Answer:
The cost of goods manufactured for June was $139,000
Explanation:
The cost of goods manufactured for June was shown below:
= Opening work in progress + direct material cost + direct labor cost + manufacturing overhead cost applied to work in progress - ending work in progress
= $22,000 + $55,000 + $28,000 + $51,000 - $17,000
= $139,000
The actual manufacturing overhead cost is irrelevant as it is not related to the work in progress that's why it is not be considered in calculation part.
Hence, The cost of goods manufactured for June was $139,000
If the statement above asks whether it is true or false. The answer would be true. It is because when you have common knowledge, it is not needed for it to be quoted for it is already common among people and it is already a knowledge of which people knows about without searching or asking about it. Quotation marks are only used when you try to quote or say things that are from the original author, information or who or where it came from and it's not yours. With common knowledge, there is no need to use them for it is already known by a lot of people and are too obvious for it to be asked of.
Answer:
0.22 and substitutes goods
Explanation:
The computation of the cross-price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
where,
Change in quantity demanded is
= Q2 - Q1
= 180,603 - 194,108
= -13,505
And, the average of quantity demanded is
= (180,603 + 194,108) ÷ 2
= 187,356
Change in price is
= P2 - P1
= $2.43 - $3.36
= -$0.93
And, the average of price is
= ($2.43 + $3.36) ÷ 2
= 2.895
So, after solving this, the cross - price elasticity is 0.22
Since the cross - price elasticity is positive that reflect the goods are substitutes to each other
