The right answer for the question that is being asked and shown above is that: "Year 2006." <span>A period of economic stability began in the 1980s. In 2001, prices began to increase. In 2007, an economic crisis caused prices to fall. The </span><span>date that would be considered the peak of this cycle is that Year 2006</span>
Answer:
d. $413,000
Explanation:
Sales = $1,160,000
Less: Cost of Goods Sold (1,160,000*70%) = <u>($812,000)</u>
Gross Profit = 348,000
Note: Since gross profit margin is 30% of the sales, the cost of goods sold must be 70% of sales.
Beginning inventory on Jan.1, 2016 = $340,000
Purchase inventory from Jan.1, 2016 to May 1,2016 = <u>$885,000</u>
Total Inventory = $1,225,000
Less: Cost of Goods sold = <u>($812,000)</u>
Estimated Inventory on May.1 2016 = $413,000
Answer:
The amount of overhead debited to Work in Process Inventory should be: a. $182,00
Explanation:
The Overheads are Applied in the Manufacturing Costs as:
Budgeted Rate × Actual Activity for the Month
At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)
In our Case, the predetermined overhead rate is 70% of direct labor cost
<em>Thus we need to find the Direct Labor Cost first</em>:
Total Labor Costs $360,000
<em>Less </em>Indirect Labor Costs<em> </em>$100,000
Direct Labor Cost $260,000
<em>Therefore Overheads applied would be determined as:</em>
= $260,000 × 70%
= $182,000
Answer:
The correct answer is letter "C": Different choices about the right simplifications to use in economic analysis.
Explanation:
Economic Analysis refers to the study of economic situations within a region using different tools for that purpose that will let determine what the possible solutions and consequences of taking decisions of those situations could be. That is why in the case the two economists after analyzing the effects of the tax reform bill decided not to implement it.
Answer:
The correct total time is nineteen (19) days instead of twenty-one days.
Explanation:
Given the analysis of time for the project in parenthesis, it is feasible to merge some of the activities together by carrying them out simultaneously.
For example:
In the course of arranging and confirming the training facility to use which will last for 3 days, the development of the training material that ought to last for 5 days is brought down to a 2 days work because the initial 3 days for arrangement becomes vacant pending the reply on the final day. This brings the total days from 8 to 5.
Other days remain thus:
• Send an e-mail message to all department managers (1 day)
• Print copies of handout (2 days)
• Develop a set of PowerPoint slides (5 days)
• Conduct a practice training session with the instructor (2 days)
• Conduct the user training sessions (4 days).
Hence, total days are as follow:
5 +1 + 2 + 5 + 2 + 4 = 19 days.
