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asambeis [7]
3 years ago
8

A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: Select one: a. Cost of goods sold. b.

Cost of goods purchased. c. Cost of goods available. d. Beginning merchandise inventory. e. Ending merchandise inventory.
Business
1 answer:
velikii [3]3 years ago
8 0

Answer:

(B) Cost of goods purchased

Explanation:

While a merchandising company buys goods from its suppliers (goods purchased) and adds this to its opening inventory to determined the quantity of goods it has available for sale (goods available for sale), a manufacturing firm makes the goods to be sold (goods manufactured) and add to its opening inventory of finished goods to determine the same metric (quantity of goods available for sale).

This relationship can be seen when the trading account of both firms are compared.

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The Maybe Pay Life Insurance Co. is trying to sell you an investment policy that will pay you and your heirs $31,000 per year fo
Whitepunk [10]

Answer: 6.51%

Explanation:

To get the interest rate at which the deal will be fair

Annual payment per year/ cost × 100

Perpetuity = D/r

476000 = 31000/r

r = 31000÷ 476000

r = 0.06512

r = 0.06512 × 100

r = 6.512%

Where D is the dividend

r is the rate

3 0
3 years ago
Nikola Motors has a quick ratio of 2.00; $38,250 in cash; $21,250 in accounts receivable; some inventory; total current assets o
Margarita [4]

Answe2.55 times

Explanation:

Current assets represent the resources of short-term nature which a business expects to convert back to cash between a year. They include inventory, receivables.

Inventory turnover is the average number of days it takes a Nikola Motors to sell its its stock and replenish it. This can be determined by either working it out in number of times the stock is sold and replenished or the length of days its takes to do same.

The formula for both are given below:

Inventory turnover( no of times) = Cost of goods sold / average inventory

                                                <em>    = x number of times</em>

Inventory days = (Average inventory/ Cost of goods sold) *365 days

                           <em> = number of days</em>

<em>Note: The inventory figure was not given in the question, but we can work it out;</em>

Current assets= cash + inventory + receivables

85,000 = 38,250 + 21,250 + y                           <em>Lets "y "demote inventory</em>

y = 85,000 - 38250 - 21, 250

y= 25,500

<em />

<em>Also we need to work out cost of sold;</em>

Cost of goods sold = 65% × 100,000

                                = 65,000

<em>Now we can work out the inventory turnover;</em>

Inventory turnover =  65,000/25,500

<em>                             </em>  =  2.55 times

Nikola Motors is seling and replacing its inventory 2.55 times

7 0
3 years ago
On July 31, 2017, Crane Company had a cash balance per books of $6,355.00. The statement from Dakota State Bank on that date sho
Ivan

Question Completion:

Prepare a bank reconciliation statement as of July 31, 2017.

Answer:

<h3>Crane Company</h3>

Bank Reconciliation Statement as of July 31, 2017

Balance as per bank statement         $7,905.80

Add Uncredited deposits                      1,309.30

Less Checks outstanding                      1,979.10

Balance as per adjusted cash book  $7,236.00

Explanation:

a) Data and Analysis:

July 31, 2017:

Cash balance per books of $6,355.00

Bank statement balance = $7,905.80

Reconciling items:

1. Bank service charge$19.00

2. Direct EFT receipt $1,630.00  

3. Uncredited deposits $1,309.30

4. Understated check No. 2480 $45

5. Checks outstanding $1,979.10

6. NSF charge of $685.00 (W. Krueger)

Cash Book Adjustment as of July 31, 2017

Balance as per cash book        $6,355.00

add: Direct EFT receipt                1,630.00

less: Bank service charge                 19.00

Understated check No. 2480          45.00

NSF charge                                    685.00

Adjusted Cash Book balance  $7,236.00

3 0
2 years ago
Larry is a hard-working college freshman. One Saturday, he decides to work nonstop until he has answered 200 practice problems f
OverLord2011 [107]

Answer:

  • The marginal gain from Larry's second hour of work is 60 problems
  • The marginal gain from Larry's fourth hour of work is 20 problems
  • The best combination is 1 hour of working problems + 3 hours of reading

Explanation:

To get the <em><u>marginal gain</u></em> we subtract from the latest hour, in this case the second hour (140), the production from the previous hour (80). 140-80=60. <em>It's always the same, the latest minus the previous one.</em>

So let's do the same for the fourth hour:

Noon................200 problems

minus

11:00 AM..........180 problems

200-180= 20 problems

Now to know how many hours he should spend working on problems and reading, let's compare:

An hour of reading equals to 70 problems made; (because working on 70 problems raises a student’s exam score by about the same amount as reading the textbook for 1 hour).

hours of working problems         problems solved

0............................................................0

1.............................................................80

2............................................................140

3............................................................180

hours reading                    problems equivalent to hours read

4...............................................(4*70)=280

3...............................................(3*70)=210

2...............................................(2*70)=140

1................................................(1*70)=70

finally let's add up the two combinations (0 and 4, 1 and 3, 2 and 2, 3 and 1)

0 and 4_______________0+280= 280

1 and 3________________80+210=290

2 and 2_______________140+140=280

3 and 1________________180+70=250

<em>And the best combination is 1 hour of working problems + 3 hours of reading=</em><em>290</em>

3 0
3 years ago
Suppose the demand function for good X is given by:
fiasKO [112]

Answer:

Explanation:

Q(8) =15 - 0.5 x 10 - 0.8 x 8 = 15-5-6.4=3.6

Q(10) =15 - 0.5 x 10 - 0.8 x 10 =15-5-8= 2

Cross Elasticity = -0.2 / 0.8 = -0.4

7 0
3 years ago
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