Answer:
$0.35
Explanation:
The computation of the price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
So, Change in quantity demanded would be
= Q2 - Q1
= 40 - 30
= 10
Now, Average of quantity demanded
= (40 + 30) ÷ 2
= 35
Change in price
= P2 - P1
= $35 - $15
= $20
And, the average of price would be
= ($35 + $15) ÷ 2
= $25
Cross price elasticity of demand = (10 ÷ 35) ÷ ($20 ÷ $25)
= 0.28 ÷ $0.8
= $0.35
Answer:
$1,600
Explanation:
Best deals incorporation has a total of 10 units in the ending merchandise inventory on December 31
The units were bought in the month of November at a price of $160 for each unit
The replacement cost of the item is $162
Inventory is always recorded when the cost is low
Therefore, the amount that is to be reported as the merchandise inventory can be calculated as follows
=10 units × $160
= $1,600
Hence the amount reported as the merchandise inventory on the balance sheet is $1,600
Presto will record the acquisition cost of the equipment as $22,250 (21,500+430+320) which is the total cost for making the fixed asset ready for operation. The Generally accepted accounting principle requires a company to record all of the acquisition cost of a fixed asset. Thus, Presto company must capitalize all cost related to the fixed asset.
Answer:
For conversion costs, the equivalent units of production are 1,610 units. The right answer is B
Explanation:
According to the given data we have the following:
begging work in progress = 280 units
units started=1450 units
Therefore, total input= 280 units + 1450 units
Total input = 1730 units
There is end work in process of 120 units
Therefore, the equivalent units of production are=Total input-end work in process
The equivalent units of production=1,730 units-120 units
The equivalent units of production=1,610 units
For conversion costs, the equivalent units of production are 1,610 units
Answer:
The answer is D. Income statement
Explanation: