Martha can produce 90 quilts or 180 batches of chocolate chip cookies in a month. Jane can produce 6 quilts or 18 batches of cho
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Answer:
The bid amount should be $13,200,264.
Explanation:
An oil and gas producing company owns 42,000 acres of land in a southeastern state.
It operates 630 wells which produce 18,000 barrels of oil per year and 1.7 million cubic feet of natural gas per year.
The revenue from the oil is $1,800,000 per year and for natural gas the annual revenue is $581,000 per year.
Total Annual Revenue
= Revenue from oil + Revenue from gas
= $1,800,000 + $581,000
= $2,381,000
The bid amount should be the present worth of total annual revenue.
Present Worth of total annual revenue
=
=
=
=
=
=
= $13,200,264
Answer:
$12,480
Explanation:
Given:
Amount paid for direct material = $12,240
production workers' wages = $10,700
Lease payments and utilities on the production facilities amounted = $9,700
general, selling, and administrative expenses = $3,800
Units produced = 6,800 units
Units sold = 4,200
Unit price of a unit = $7.30
Now,
Per unit Cost of production =
or
Per unit Cost of production =
or
Per unit cost of production = $4.80
Also,
Units left in the inventory = Total units produced - Units sold
= 6,800 - 4,200
= 2,600
Thus,
Amount of finished goods inventory on the balance sheet at year-end
= units left in the inventory × Per unit cost of production
= 2,600 × $4.80
= $12,480