Answer:
$700
Explanation:
The computation of work-in-progress transferred to the finished goods is given below:
We know that
= Work-In-Process inventory, April 1 + Direct materials used in production + Direct labor costs incurred + Manufacturing overhead costs - Work-In-Process Inventory, April 30
= $200 + $125 + $300 + $250 - $175
= $700
Hence, this is a correct answer
Answer: Option (c) is correct.
Explanation:
Given that,
Alternatives for a person if he do not attend his neighbor's barbecue:
(1) Watch television with some friends = he value this at $17
(2) Read a good novel = he value this at $14
(3) Go in to work = he could earn $16 during the barbecue
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
Therefore, the opportunity cost of going to his neighbor's barbecue is the enjoyment he get from watching television with some friends because this is the highest valued alternative forfeited.
15,000 residents are employed full time while 8,000 work part tine
Answer:
(a) $2,040
(b) $1,020
Explanation:
(a) Under the accrual method of accounting revenue is recognized in the month when product is delivered,
Revenue is recognized on the March income statement from this order:
= Units Delivers × Unit price
= 136 × $15
= $2,040
(b) Revenue is recognized on the April income statement from this order:
= Units Delivers × Unit price
= 68 × $15
= $1,020
Answer:
The firm's ability to respond and adapt to financial adversity and unexpected needs and opportunities.
Explanation:
Financial adversity refers to difficulty is obtaining fund to take opportunities and meet needs including debt settlement.
The statement of cash flows shows how much cash flows and out of an organisation and how regular and stable they are. It therefore allows user to evaluate financial flexibility of the organisation.