Answer: 61,390 liters
Explanation:
If materials were added at the beginning, they will be 100% accounted for at the end of the process.
Equivalent Units = Units started and completed + Ending inventory
= Units completed - Beginning WIP + Ending inventory
= 59,110 - 2,900 + 5,180
= 61,390 liters
Answer: The operating income is $<u>76 comma 500</u> when 11 comma 000 units are sold.
Explanation:
Selling price = $12 / unit
Variable cost of production = $3 / unit
Selling and Admin cost = $1.5 / unit
Fixed cost for 11 comma 000 units are $ 6 comma 000.
For 11 comma 000 units,
Sales = 12 x 11000 = $132000
cost of production = 3 x 11000 = $33000
Selling and Admin cost = 1.5 x 11000 =$16500
Fixed cost = $6000
Operating Income = Sales - Cost of Production - Selling and Admin cost - Fixed cost
Operating income = 132000 - 33000 - 16500 - 6000 = $76,500
The operating income is $<u>76 comma 500</u> when 11 comma 000 units are sold.
Answer:
the overhead amount recorded is $139,500
Explanation:
The computation of the overhead amount recorded is shown below:
= Overhead application rate × direct material cost
= 155% × $90,000
= $139,500
Hence, the overhead amount recorded is $139,500
We simply applied the above formula so that the correct value could come
Answer:
Income elasticity of demand for snarfblatts is 1.
Explanation:
the consumer spends 20% of the income on snarfblatts, thus the percentage change in consumption of the snaerblatts is equal to the percentage in income, that is:
Elasticity = % change in demand of snarfblatts/% change in income
= 1
Therefore, Income elasticity of demand for snarfblatts is 1.
Answer:
qualified available
Explanation:
Qualified available Market refers to the situation when only customers with specific criteria are able to make a purchase. In most cases, those criteria revolved around age, gender, or group membership.
Alcochol is an example of qualified available market because it created a situation which only allow consumers older than 21 to make a purchase.
Other example would be Waxing salon. Large portion of waxing salons only allow female customers to purchase their service (since the workers are also females and feel uncomfortable to give their service to male customers.)