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wolverine [178]
3 years ago
11

A toy company creates a new toy that suddenly become very popular. The toys in the stores sell out immediately, and the factorie

s have not finished making the next batch of toys yet.
What will happen to the price of the toys?


A. The price will go down because demand will drop.

B. The price will go up because supply is low.

C. The price will go up because demand is low.

D. The price will go down because supply has dropped.
Business
1 answer:
shtirl [24]3 years ago
3 0
Your answer would be B. The price will go up because supply is low.
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Explain whether each of these expenses of a textile mill is a fixed cost or a variable cost, and why. (a) repairs to a leaking r
Gekata [30.6K]

Answer:

Fixed costs are those costs that do not vary with the level of production. While, variable cost are those costs that change with the level of production or per unit consumption.

(a) Repairs to a leaking roof- Fixed cost as it has nothing to do with the level of production.

(b) Cotton- Variable cost as it depends on the number of units produced.

(c) Food for the miller's cafeteria- Variable as it depends on production. The more you produce the more workers you need and thus more is the food requirement.

(d) Night security guard-  Fixed cost as it does not change with the number of units produced by the textile mill.

(e) Electricity- Variable cost as it depends on the units of electricity consumed. The more you produce the more electricity will be consumed.

7 0
3 years ago
Read 2 more answers
Fairfield company's raw materials inventory transactions for the most recent month are summarized here: beginning raw materials
astraxan [27]

<u>Calculation of raw materials cost added to the work in process inventory account during the period:</u>

Raw materials issued using materials requisition 1445 for Job 101  = $25,000

Add: Raw materials issued using materials requisition 1446 for Job 102 = $35,000

Add: Materials requisition 1447 used on multiple jobs 1= $30,000

Total raw materials cost added to the work in process inventory account during the period =<u> $90,000</u>


4 0
3 years ago
E16-4. On January 1.2013, when its $30 par value common stock was selling for $80 per share, Plato Corp. issued $10,000,000 of 8
coldgirl [10]

Answer:

A. Dr Cash Account $10,800,000

Cr To Bonds Payable $10,000,000

Cr To Premium Payable $800,000

B.Dr Bonds Payable account $3,000,000

Dr Premium on bonds payable Debited $2,700,000

Cr To Common Stock $7,500

Cr Additional paid in capital $5,692,500

Explanation:

(a) Preparation of the journal entry to record the original issuance of the convertible debentures

Dr Cash Account $10,800,000

Cr To Bonds Payable $10,000,000

Cr To Premium Payable $800,000

($10,000,000*8/100=$800,000)

(Being issue of share on convertible debenture)

b.Preparation of the journal entry to record the exercise of the conversion option, using the book value method

Dr Bonds Payable account $3,000,000

Dr Premium on bonds payable Debited $2,700,000

Cr To Common Stock $7,500

Cr Additional paid in capital$5,692,500

($3,000,000+$2,700,000-$7,500)

(Being maintain the record of outstanding conversation of debenture)

Calculation for for BONDS CONVERTED

First step is to calculate the amortization for 2013

Amortization for 2013=$10,000,000/20

Amortization for 2013=$500,000

Second step is to calculate the amortization for 2014

Amortization for 2014=$10,000,000/20

Amortization for 2014=$500,000

Third step is to Calculate the premium on bonds payable

Premium on bonds payable=$10,000,000−($500,000+$500,000)

Premium on bonds payable=$9,000,000

Now let calculate the bonds converted

Bonds converted=$9,000,000×30/100

Bonds converted=$2,700,000

Calculation for COMMON STOCK

First step is to calculate the number of bonds

Number of bonds=$10,000,000/1000

Number of bonds=10,000

Second step is to calculate Price for the bond

Price for the bond=10,000×5

Price for the bond=50,000

Third step is to Calculate for Stock Split

Stock Split=50,000/2

Stock Split=25,000

Now let calculate the common stock

Common stock=25,000×30/100

Common stock=7,500

Calculation for BONDS PAYABLE

Bonds Payable=10,000,000×30/100

Bonds Payable=3,000,000

6 0
3 years ago
Read 2 more answers
A Corporation manufactures canoes in two departments, Fabrication and Waterproofing and uses a weighted-average process cost sys
Xelga [282]

Answer:

Explanation:

The journal entry is shown below:

Finished goods A/c Dr XXXXX

  To Work in progress A/c - Waterproofing XXXXX

(Being the completion of the production is recorded)

Since there are 2 steps to make the finished good. The first one is raw material and then process the raw material which we called work in progress account, After processing the product, the goods are ready to the sale which we called finished product.  

So, we debited the finished goods account and credited the work in progress account

6 0
3 years ago
The following budget data pertain to the Machining Department of Yolkenverst Co.: Maximum capacity 62,000 units Machine hours pe
Marysya12 [62]

Answer:

Yolkenverst Co.

Machining Department

For the current year the department has a fixed overhead production volume variance, rounded to the nearest whole dollar, of:

= $7,148.

Explanation:

a) Data and Calculations:

Maximum capacity 62,000 units

Machine hours per unit 2.50

Variable factory overhead $ 4.20 per machine hour

Fixed factory overhead $ 432,500

Planned capacity units to be produced = 50,840 units (62,000 * 82%)

Actual capacity units produced = 50,000 units

Production volume variance = 840 units (50,840 - 50,000)

Fixed factory overhead rate of maximum capacity = $6.96 ($432,500/62,000)

Standard fixed overhead rate based on planned capacity = $8.51 ($432,500/50,840)

Fixed overhead production volume variance = production volume variance * standard fixed overhead rate based on planned capacity

= 840 * $8.51

= $7,148.4

= $7,148

7 0
2 years ago
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