Answer:
The lowest selling price Geneva should accept for this purchase order is $20 per unit
Explanation:
Geneva produced dolls with Variable manufacturing costs $20 per unit.
Geneva receives a purchase order to make 5,000 dolls as a one-time event and this order is during a period when Geneva does have sufficient excess capacity.
Fixed cost did not change and there was no Variable selling and administrative costs for this order.
The lowest selling price Geneva should accept for this purchase order = Variable manufacturing costs = $20 per unit
Answer:
$10,900
Explanation:
The computation of net operating income (loss) for the month under variable costing is shown below:-
Sales = Selling price × Units sold
= $116 × 8,600
= $997,600
Variable cost = (Direct material + Direct labor + Variable manufacturing overhead + Variable selling and administrative expenses) × Units sold
= ($19 + $61 + $7 + $11) × 8,600
= $98 × 8,600
= $842,800
Contribution Margin = Sales - Variable cost
= $997,600 - $842,800
= $154,800
Fixed cost = Fixed manufacturing overhead + Fixed selling and administrative expense
= $135,000 + $8,900
= $143,900
Net operating income = Contribution Margin - Fixed cost
= $154,800 - $143,900
= $10,900
Therefore for computing the net operating income we simply applied the above formula.
Answer:
A) $7,000
Explanation:
Smith can deduct the $5,000 he donated to the church he attends. The art work donated to the local museum must be deducted at its basis, which is $2,000. Since he only purchased the painting 4 months before, the price increase will be considered a short term capital gain. Donated short term capital gain property must be deducted at basis.
The $1,000 he donated to the needy family is not deductible, since it wasn't a qualifying organization.
Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as economizing behavior.
<h3>What is Economics?</h3>
Economics is a social science that examines the decisions that people, businesses, governments, and nations make regarding the distribution and consumption of products and services.
Economics is the study of how individuals divide up finite resources between individual and group uses for production, distribution, and consumption.
Economics has two subfields: macroeconomics and microeconomics. Efficiency in exchange and production is the main focus of economics. Both the Consumer Price Index (CPI) and the Gross Domestic Product (GDP) are frequently used economic statistics.
To spot prospective trends or predict the future of the economy, economists use economic indicators like the GDP and the consumer price index.
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<span>D) A numerical rating that expresses how likely you are to repay your debts.</span>
