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Vilka [71]
3 years ago
8

The cost of goods sold for Michaels Manufacturing in the current year was $233,000. The January 1 finished goods inventory balan

ce was $31,600, and the December 31 finished goods inventory balance was $24,200.
1. Cost of goods manufactured during the period was ________.

a. $288,800

b. $233,000

c. $225,600

d. $240,400
Business
1 answer:
VMariaS [17]3 years ago
8 0

Answer: d. $240,400

Explanation:

To calculate the Cost of Goods sold for the year we simply add the Opening Balance of Finished goods to the Cost of Goods for the year and then subtract the Finished goods balance at year end (ending).

That would be,

= 233,000 + 31,600 - 24,200

= $240,400

$240,400 is the Cost of Goods sold for the year so Option D is correct.

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During the months of January and February, Solitare Corporation sold goods to two customers. The sequence of events was as follo
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Answer:

The total revenue Solitare would report over the two months is $99 with a gross loss of $11.74

Explanation:

Particulars                                                  Amount ($)

Sales (January & February)

- Wizard Inc                                                     $50

- Spyder Corp                                                 $50

Less: Discount allowed to Wizard Inc           <u>$1       </u>    ($50 * 2%)

Net Sales                                                         $99

Less: Cost of goods sold (60.6+50.14)          <u>$110.74</u>

Gross Loss                                                       <u>$11.74</u>

8 0
3 years ago
Madison Taylor, RHIA, will be attending an AHIMA conference on information governance Friday from 7:00 PM to 9:00 PM and Saturda
omeli [17]

Answer:

28%

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Hence, 8.5/30 = 28.3 =28%( to the nearest whole number).

4 0
3 years ago
James is the new manager of operations at Springfield Motors. To his dismay, he finds the employees coming in late to work, taki
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Answer: Option B                  

                               

Explanation: In simple words, positive reinforcement means motivating someone to perform a job more efficiently and frequently by offering them some reward for doing so. While punishment refers to penalizing someone for any offense.

In the given case, James has been offering the incentives to his employees but have also made a clause to withhold them in case of unprofessional behavior.

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3 years ago
Can I have a short 150 words paragraph about following?
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Answer:

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GDP is used to measure the Economic welfare or standard of living in the people when it is measured per capital terms. The short coming with GDP is that it does not show the true economic welfare or standard living of people in the society as GDP is calculated as whole for whole population prevalipre in the country which includes all level of income people. In any country there will be rich , poor and middle class.

Using GDP for finding social welfare it tells whether the country standard of living is increasing or not but it will not tell specially abpab poor and middle class. Any country standard of living goes up only if the poverty in the country eradicate. Thus GDP have a short coming of not finding the true social welfare or standard of living which is in the society.

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