Solution:
Instructions Journalize the April transactions:
Date Account Titles and Explanation
4/30 Work in Process—Cooking
Work in Process—Canning
Raw Materials Inventory
4/30 Work in Process—Cooking
Work in Process—Canning
Factory Labor
4/30 Work in Process—Cooking
Work in Process—Canning
Manufacturing Overhead
4/30 Work in Process—Canning
Work in Process—Cooking
Cooking and out the debits
Debit Credit
22,800
10,900 33,700
9,400
7,230 16,630
33,800
28,100 61,900
55,900
55,900
Opportunity cost is what you give up to do something
if you go to the concert, you spent $45 dollars but lose the opportunity to sell the ticket
if you sell the ticket illegally, you get $75 at the cost of not seeing the concert
the opportunity cost of attending the concert=75+45=$120
the opportunity cost is 120 dollars
Answer:
$16.50
Explanation:
Note: The complete question is attached as picture below
We know that there is a total of 90 units of oil and 30 units is consumed in period 0.
So, in period 1, the consumption amount will be = 90-30=60 units.
So, Q1 = 192 - 8P
For 60 units, the price will be 60 = 192 - 8P
8P = 192 - 60
8P = 132
P = 132 / 8
P = 16.5
So, the price in period 1 is $16.50
Answer:
The total cost of operating a truck would be $18000 as calculated below.
Explanation:
The total costs of operating the truck is a combination of fixed costs of $5500 per year and variable of $0.50 per mile ,hence the total cost function is given as:
TC=5500+0.50X
Where represents the number of miles driven per year.
Since X=25000 miles
TC=$5500+($0.50*25000)
TC=$5500+$12500
TC=$18000
The understanding here is that wages paid to the two employees working with the truck is already embedded in the fixed costs of $5500 per year, otherwise that would been given as a distinct cost entirely.
Answer:
$28,800
$25920
Explanation:
Depreciation expense using the double declining method = Depreciation factor x cost of the asset
Depreciation factor = 2 x (1/useful life)
2018 = 2/5 x 72,000 = 28,800
Book value = 72,000 - 28800 = 43,200
2019 = 2/5 x 43200 = 17280
Book value = 43200 - 17280 = 25290
