Answer:
The cost of goods available for sale is $74100.
Explanation:
The cost of goods available for sale is the total cost of the inventory that a business has available during a period of time for sale. The cost of goods available for sale is calculated by adding the beginning inventory with the cost of goods purchased.
The cost of goods purchased during the year = 60400 - 3000 - 1100 + 600 = $56900
The cost of goods available for sale = Beginning inventory + cost of goods purchased
The cost of goods available for sale = 17200 + 56900 = $74100
Answer:
innovation
Explanation:
Technology is defined as human innovation in action that involves the generation of knowledge and processes to develop systems that solve problems and extend human capabilities.
To innovate is to make changes in something established, especially by introducing new methods, ideas, or products.
<span>Your task is to take this and construct a graphical representation of the data. in doing so, you determine that as the price of soup rises, the quantity of soup demanded decreases. This confirms the Law of Supply and Demand which states that the supply is inversely proportional to the demand. Simply speaking, whenever there is an increase in the price, the supplier tends to produce an excess supply even though the demand is low to generate a greater profit.</span>
Answer:
a) attached below
b) P( profit ) = TR(q) - TC(q)
c) attached below
d) -$5000 ( loss )
Explanation:
Given data:
Fixed Cost = $10,000
Material cost per unit = $0.15
Labor cost per unit = $0.10
Revenue per unit = $0.65
<u>a) Influence diagram to calculate profit </u>
attached below
<u>b) derive a mathematical model for calculating profit.</u>
VC = variable cost per unit , LC = per unit labor cost , MC = per unit marginal cost, TC = Total cost of manufacturing , FC = Fixed cost, q = quantity, TR = Total revenue, R = revenue per unit
VC = LC + MC
TC (q) = FC + ( VC * q )
TR (q) = R * q
P( profit ) = TR(q) - TC(q) ------------ ( 1 )
c) attached below
<u>d) If Cox Electrics makes 12,000 units of the new product </u>
The resulting profit = -$5000
q = 12
P = TR ( q ) - TC ( q )
= ( R * q ) - ( Fc + ( Vc * q ) )
= ( 0.65 * 12000 ) - ( 10,000 + ( 0.25 * 12000 )
= -$5200
I think the labor market is the nominal market in which workers find paying work, employers find willing workers, and wage rates are determined.
