Answer:
b. a 15 percent decrease in the price.
Explanation:
Differential in quantity / differential in price
0.12 Demand /X Price = 0.8
X supply = 0.12 / 0.8
price = 0.15
Answer:
$7.2 and $10
Explanation:
The computation of the standard cost per unit for direct material and for direct labor is shown below:
Direct materials standard cost per unit is
= 3 lbs × 2.4
= $7.2
And, Direct labor standard cost per unit is
= $15 × 40 ÷ 60
= $10
All the other information which is mentioned in the question is not relevant. Hence ignored it
Answer:
cash 16,930
note receivable 15,000
interest revenue 1, 930
Explanation:
Pozzi works his accounting under cash basis. This means it do not recognize any interest revenue over the past of time. It will recognize the gain on the loan entirely at maturity, when the cash is received.
Therefore his journal entry at maturity will be:
a debit to cash forthe received amount
a credit to note receivable, to write-off the balance
and a credit to interest revenue to recognize this gain.
Answer:
$7,815
Explanation:
As per Perpetual LIFO inventory valuation method the inventory purchased at last will be sold first and the value of ending inventory can be calculated as follows. The inventory sold has been deducted from the purchased inventory in that period first and then has been deducted from the previous period to arrive at the cost of ending inventory;
January: 8 units x $180 = $1,440
February: 20 units x $185 = $3,700
May: 11 units x $190 = $2,090
September: 3 units x $195 = $585
Cost of Ending Inventory of 42 units is $7,815
A sales representative calls on a prospective business customer only to find that the customer has an established relationship with another supplier that seems to be working well. the customer is not interested in considering other suppliers. the customer is currently in a STRAIGHT REBUY situation.