Answer: <em>Cost of Goods Manufactured = $ 660,000</em>
Explanation:
Direct Material Used $ 240,000
Direct labor $ 250,000
Manufacturing overheads applied $ 150,000
Total manufacturing Cost $ 640,000
Add: Work in process $ 40,000
Total Manufacturing cost $ 680,000
Less: Work in process $ 20,000
Cost of Goods Manufactured $ 660,000
Answer:
The answer is consumer's surplus
Explanation:
Consumer's surplus is the difference between what the consumer or buyer is willing to pay and the amount he or she eventually paid.
For example, Mr A is willing to pay $100 for a product and the producer is willing to sell for $90. After much negotiation between mr A and the seller, he eventually paid $85. What he paid was lower than what he was willing to pay before.
So the consumer surplus is $100 - $85 = $15
Answer:
The answer is ($174,000)
Explanation:
Cash flows from financing activities show the inflow and outflow of cash that are used to fund the business's operations.
Cash flow from financing activities:
Issuance of common stock......................................$79,000
Payment of dividend........($13,000)
Settlement of notes payable.................................($125,000)
Payment for treasury stock.........…...........................................($115,000)
Net cash from financing activities...............................($174,000)
Answer: Costs of items used up this period but paid for next period
Explanation:
Period Expenses for the period are transactions that should be expensed because they were used in the current period.
Therefore if a period cost is not used in the period, it is not considered a period cost even if the company pays for it in the current period which also means that if a period cost for the period is not paid in the current period but in the next one, it is still a period cost for the current period.
From the above therefore, the period cost is the cost of items used up in this period but paid for in the next one.
The land purchased might look like the obvious choice but it is not because Assets are capitalised and not expensed.
Opportunity based decision making
