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Greeley [361]
3 years ago
15

Bramble Corporation had January 1 and December 31 balances as follows. 1/1/17 12/31/17 Inventory $112,000 $133,000 Accounts paya

ble 55,000 64,000 For 2017, cost of goods sold was $592,000. Compute Bramble’s 2017 cash payments to suppliers.
Business
1 answer:
melisa1 [442]3 years ago
8 0

Answer:

$604,000

Explanation:

Given that,

                                  Opening            Closing

Inventory                   $112,000           $133,000

Accounts payable     $55,000           $64,000

Cost of goods sold = $592,000

Cost of goods sold = Opening stock + Purchases - Closing stock

Purchases = Cost of goods sold - Opening stock + Closing stock

                  = $592,000 - $112,000 + $133,000

                  = $613,000

Bramble’s 2017 cash payments to suppliers:

= Opening accounts payable + Purchases - Closing accounts payable

= $55,000 + $613,000 - $64,000

= $604,000

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When the marginal revenue curve intersects the horizontal axis A. demand is relatively inelastic. B. demand is perfectly elastic
konstantin123 [22]

Answer:

D. demand is unitary elastic.

Explanation:

A unitary elastic demand means that the quantity demanded will change proportionally to any change in the price of the product or service. E.g. price decreases by 10%, then quantity demanded will increase by 10%.

The marginal revenue curve represents the additional revenue generated by selling one more unit. As the marginal revenue curve approaches 0, it means that selling one additional unit generates lower revenues.

8 0
3 years ago
Look around your room or in your house and find five different objects and identify where they were made. In at least 100 words,
gizmo_the_mogwai [7]

Answer:

Throughout my home, there are many objects that were made in many different places. These objects, though they may seem pedestrian, are highly significant in their ability to help and serve. One of these objects includes my television. This trade occurred at Best Buy, where I gave $5,000 U.S dollars in turn for a continuous flow of information. I have since been positively impacted, as I am always aware of my surroundings (I.e. news) and I can keep up with the latest shows. Another example is my refrigerator. My refrigerator allows me to, once again, connect to the internet and keep in touch with those around me. This product has also impacted me, as it makes life much easier. When at the grocery, I am able to search on my phone and look inside to see what I may, or may not, need.

Explanation:

4 0
2 years ago
Equilibrium price is $10 in a perfectly competitive market. For a perfectly competitive firm, MR = MC at 233 units of output. At
Anika [276]

Answer:

Continue operating; $699

Explanation:

The equilibrium price is $10.

MR = MC at 233 units of output.

At this output level, ATC is $12, and AVC is $9.

The AFC or average fixed cost

= ATC - AVC

= $12 - $9

= $3

The total fixed cost

= AFC\ \times Q

= \$ 3\ \times\ 233

= $699

The equilibrium price is able to cover the average variable cost so the firm should continue production in the short run.

4 0
3 years ago
a. If Canace Company, with a break-even point at $960,000 of sales, has actual sales of $1,200,000, what is the margin of safety
lutik1710 [3]

Answer:

Results are below.

Explanation:

Giving the following information:

Break-even point in sales= $960,000

Actual sales= $1,200,000

<u>To calculate the margin of safety in dollars and as a percentage, we need to use the following formulas:</u>

Margin of safety= (current sales level - break-even point)

Margin of safety= (1,200,000 - 960,000)

Margin of safety= $240,000

Margin of safety ratio= (current sales level - break-even

point)/current sales level

Margin of safety ratio= 240,000 / 1,200,000

Margin of safety ratio= 0.2 = 20%

8 0
2 years ago
to answer this question. In week 1 the inventory manager discovers, much to his horror, that instead of 65 tacos in inventory, t
rodikova [14]

Answer:

D.110

Explanation:

They had 6.5 instead of 65.

Number of production shortage

65/6.5=10

Now this is equal to 10 × 10 + 10

=110

8 0
3 years ago
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