Answer:
Value of closing inventory = $25771.04
Explanation:
To calculate the value of ending inventory under a periodic average cost method, we will calculate the average price per unit of inventory at the end of the month. To calculate the average price per unit, we simply divide the total cost of the inventory by the total number of units for the month.
Average cost per unit = Total cost of all units for the month / Total units available for the month
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<u>Total cost of all units:</u>
Beginning inventory (485 * 66) 32010
Purchase 1 (725 * 69) 50025
Purchase 2 (364 * 71) <u> 25844</u>
Total 107879
<u>Total Units</u>
Beginning Inventory 485
Purchase 1 725
Purchase 2 <u>364</u>
Total 1574
Average cost per unit = 107879 / 1574
Average cost per unit = $68.54
Units of closing inventory = 1574 - 1198 = 376 units
Value of closing inventory = 376 * 68.54
Value of closing inventory = $25771.04
Answer:
The correct answer is: ratio of consumption to income.
Explanation:
The average propensity to consume is a measure to show the percentage of income that is spent on consumption of goods and services. It is calculated by the ratio of consumption and income.
It can also be calculated as 1 - APS. Here, APS is the average propensity to consume which is the ratio of savings to income.
Answer:
$140,420
Explanation:
The demand function is q = -720p + 20,500.
The price is $17
q = -720 ($17) + 20500 = 8260
The quantity sold is 8260
Revenue = price × quantity sold
= $17 × 8260 = $140,420
Answer:
Y=38.8
Y will increase by 38.8
Y=246+38.8
Y=284.8
Explanation:
Y=A. F(K, L)
Y=A. K^0.3, L^0.7
Then
Y=246
A=1
K=2000
N or L=100
Solutions
200=1(2000^0.3, 100^0.7)
Now the question says both k & N are increased by 0.20
Therefore
Y=1(2400^0.3, 120^0.7)
Y=1(10.3 + 28.5)
Y=38.8
