Answer: When a firm is in a constant-cost industry, a decrease in demand will result in economic <u>losses.</u> This will cause <u>exit from</u> the industry, resulting in <u>a decrease</u> in supply over time. This long-run adjustment eventually cause the price level to <u>decrease</u> so that it eventually <u>occur at a higher level than</u> before the demand shift. There will be firms <u>fewer</u> in the industry. The long-run industry supply curve will be <u>downward shifting.</u>
The correct option is C. The valuation of the cost of goods sold which is recorded in its book as $5,900 and stock available for sale is $3,900 under the FIFO method.
<h3>
Why is the FIFO method used for Inventory Valuation?</h3>
FIFO will enable you to claim a higher average cost-per-piece on newer inventory, which can help you save money on taxes if your inventory costs are declining over time. Because it assumes that older products are no longer in use, FIFO does not necessitate as much documentation as LIFO.
Calculation Cost of Goods Sold (COGS) under FIFO Method:
COGS = 800 x 2 + 700 x 3 + 300 x 3 + 1300 x 1 =
COGS = $5,900
The calculation for Stock available for Sale:
Stock available for Sale = 700 x 1 + 800 x 4
Stock available for Sale = $3,900
Thus, the Cost of Goods Sold is $5,900, and the stock available for sale is $3,900 under the FIFO method.
Learn more about FIFO here:
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Answer:
B) yes no yes
Explanation:
Particulars Product X Product Y Product Z
Units Produced 2,000 2,500 3,500
Sales value at split-off $15 $19 $20
Add: Processing cost $5 $7 $7
Sales after processing $24 $24 $29
Profit after
processing further $24- $15 - $5 $24 - $19 - $7 $29 - $20 - $7
= $4 = - $2 = $2
Yes No Yes
Since revenue after split off is from Product X and product Z, Product Y is creating negative profit that is loss from further processing.
Correct option
B) yes no yes
The answer to this question is <span>Business Impact Analysis (BIA)
</span><span>Business Impact Analysis (BIA) will gathered up data from every business functions that a company made and evaluate it to determine whether the company performance is currently meeting the standards that set in order to achieve all its goal.</span>