1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
KATRIN_1 [288]
3 years ago
15

During its first year of operations, JKL Company paid $11,065 for direct materials and $11,200 for production workers' wages. Le

ase payments and utilities on the production facilities amounted to $10,200 while general, selling, and administrative expenses totaled $3,300. The company produced 7,550 units and sold 4,700 units at a price of $6.80 a unit. What is JKL's cost of goods sold for the year?
a. $32,465
b. $15,915
c. $20,210
d. $25,565
Business
1 answer:
DENIUS [597]3 years ago
3 0

Answer:

c. $20210

Explanation:

The formula for COGS is as follows;

COGS= cost of opening inventory  + purchases - cost of closing inventory.

Lets first calculate total production cost of 7550 units.

Total production cost= material cost + labor cost + production overheads.

(Important: selling and administrative expenses are not part of cost of goods sold).

TPC= $11065 + $11200 + $10200

TPC= $32465

Now we calculate production cost per unit in order to find the cost of closing inventory.

Production cost/unit= $32465÷7550

Production cost/unit= $4.3

The company produced 7550 units but sold only 4700 of them therefore the difference represents the closing inventory.

Cost of closing inventory = $4.3×2850

cost of closing inventory = $12255

If we subtract cost of closing inventory from total production cost we will get Cost of goods sold (COGS).

COGS= $32465 - $12255

COGS= $20210

You might be interested in
Despite some optimism about the seeds of recovery, the Congressional Budget Office (CBO) sees joblessness rising. The CBO sees u
Xelga [282]

Answer:

The resulting rise in unemployment is mostly a rise in __cyclical____ unemployment because it is related to the state of the economy.

Explanation:

Frictional unemployment occurs as a result of workers' search for or transition to new jobs.  It is brief and does not leave a mark on the economy.  Structural unemployment comes about when the skills of workers do not match the requirements of employers.  Therefore, workers require retraining and reskilling.  Cyclical unemployment relates to the macro-economic situation that is prevailing during periods of recession.

5 0
3 years ago
Integrated marketing communications involves carefully coordinating a company's many communications channels to deliver a clear,
olga nikolaevna [1]

Answer:

True

Explanation:

The above statement is true as integrating marketing communication is a system that helps businesses to coordinate effectively within the organisations. Integrated marketing communication consists of various communication channels that assist to deliver a message in the most effective way possible. It also helps to form compelling messages for customers.

7 0
3 years ago
Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe
My name is Ann [436]

Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe that there​ aren't any jobs available. You would be counted as<u>  </u> <u>discouraged worke</u>r

Explanation:

<u>Suppose that you are available to go to work but have not looked for a job for at least the last four weeks because you believe that there​ aren't any jobs available. You would be counted as</u>

A <u>discouraged worke</u>r is an individual who has given up looking for employment even though they are perfectly eligible to take up a job but to the repeated failure in finding a job  they have then ceased their search for finding an employment.

Discouraged workers have stopped looking for employment opportunities because they feel that their is no job that suits their qualifications

Since they have stopped searching they are not included in the labor force hence when we see the statistics for unemployment these people are not included there also .So they are called <u>Discouraged Workers</u>

<u> The correct formula for calculating the unemployment​ rate</u>

<u>(</u>

<u> D) Neither formula is used to calculate the unemployment rate</u>

The formula for Unemployment rate is

==> U=Unemployed People/Labor force*100

<u></u>

7 0
3 years ago
A company has net income of $187,000, a profit margin of 8.6 percent, and an accounts receivable balance of $126,370. Assuming 6
NARA [144]

Answer:

35.35  days

Explanation:

For the computation of company’s days’ sales in receivable first we do the following calculations

As we know that

Profit margin = Net income ÷ Sales

0.086 = 187,000 ÷ Sales

Sales = 2,174,418.605

So,

Credit sales = Sales × Sales percentage

= 2,174,418.605 × 0.6

= 1,304,651.163

Receivables turnover ratio = Credit sales ÷ Receivables

= 1,304,651.163 ÷ 126,370

= 10.3241

Now

Days sales in receivables = 365 ÷ Receivables turnover

= 365 ÷ 10.3241

= 35.35 days

4 0
3 years ago
Traditionally, ________ were always set up as non profit corporations.
riadik2000 [5.3K]
The answer is:

Traditionally, SOCIAL ENTERPRISES were always set up as non profit corporations.
4 0
4 years ago
Other questions:
  • Anemployer may choose to match money employees invest in a
    5·1 answer
  • When you use the direct organizational plan for a routine message, you present the details before the primary idea?
    5·1 answer
  • On January 1, 2021, Splash City issues $320,000 of 8% bonds, due in 15 years, with interest payable semiannually on June 30 and
    10·1 answer
  • Sanderson Sofas, a family-owned corporation, issued 6.75% bonds with a face amount of $12 million, together with 2 million share
    6·1 answer
  • On October 1, 2009, the Nintendo Wii's Japanese price dropped from ¥25,000 to ¥20,000. In the three months after the price drop,
    11·1 answer
  • Suppose Joe purchases the factory using $200,000 of his own money and $200,000 borrowed from a bank at an interest rate of 6 per
    11·1 answer
  • Megatrends stock will generate earnings of $2 per share this year. The discount rate for the stock is 10%, and the rate of retur
    12·1 answer
  • Pleaseeeeeeeeeee follow on the gram at FelineKrew!!!!
    6·2 answers
  • Hunter is going to receive $3,000 in one year and he wants to know its equivalent value today. The process of determining the an
    8·1 answer
  • Critically analyse howexternalnfactors affect entrepreneurship . Support your answer with contemporary examples
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!