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3 years ago

Faughn Corporation has provided the following data concerning manufacturing overhead for July:

1 answer:

6 0

Answer: D. Manufacturing overhead was underapplied by $10,000; Cost of Goods Sold after closing out the Manufacturing Overhead account is $253,000

Explanation:

The Manufacturing overhead applied is less than the actual manufacturing overhead incurred by:

= 79,000 - 69,000

= $10,000

Manufacturing overhead is therefore underapplied as the amount applied is too low to cover the amount incurred.

The Cost of Goods sold after closing out is:

= Cost of goods sold before closing out + Underapplied manufacturing overhead

= 243,000 + 10,000

= $253,000

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Riverbed Corporation issued 1,900 shares of $10 par value common stock upon conversion of 950 shares of $50 par value preferred

masya89 [10]

Answer:

The answer is given below;

Explanation:

Preference stocks 950*50 Dr.$47,500

Paid in capital in excess of par-preference shares Dr.$ 13,300

(64-50)*950

Common Stocks 1,900*10 Cr.$19,000

Paid in capital in excess of par-common stocks Cr.$41,800

(64*950)-(1900*10)

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3 years ago

What is the diffrence between actual and proposed selling price

Orlov [11]

Actual means the real selling price for the product paid by the customer whereas proposed selling price is the price which was suggested to be set for the product.

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4 years ago

Suppose the price of gasoline in July 2004 averaged $1.35 a gallon and 15 million gallons a day were sold. In October 2004, the

Alenkinab [10]

Answer:

0.15

Inelastic

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price

Midpoint change in quantity demanded = change in quantity demanded / average of both demands

change in quantity demanded = 14 million - 15 million = -1 million

average of both demands = (14 million + 15 million ) / 2 = 14.50 million

Midpoint change in quantity demanded = -1 million / 14.50 million = -0.069

midpoint change in price = change in price / average of both price

change in price = $2.15 - $1.35 = $0.80

average of both prices = ( $2.15 + $1.35 ) / 2 = $1.75

midpoint change in price = $0.80 / $1.75 = 0.457

-0.069 / 0.457 = 0.15 demand is inelastic

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

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3 years ago

What does woolworths do to help the people

Margaret [11]

Donate surplus food from food stores to communities who need the support.

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2 years ago

The optimal point on a production possibilities curve is achieved where Multiple Choice large amounts of capital goods are produ

Yuki888 [10]

Generally, on a production possibilities curve, the optimal point is achieved where each good is produced at a level where marginal benefits equal marginal costs.

<h3>What is an optimal point?</h3>

On a graph, this refers to the best or most favorable point on a graph curve etc

Hence, on the a production possibilities curve, the optimal point is achieved where each good is produced at a level where marginal benefits equal marginal costs.

Therefore, the Option B is correct.