Answer:
The correct answer is letter "C": A drought in Kansas is not significant enough to affect the worldwide price of grain.
Explanation:
In case a drought affects only the farms in Kansas, there will be less supply of grains growing in Kansas but customers may ask for the grains from other regions not affected by the drought. <em>Therefore, Kansas farmers' profits will be decreased but it will not affect the worldwide price of grains.</em>
Answer:
$
Sales (2,500,000 x$0.10) 250,000
Less: Material cost(2,500,000 x $0.03) 75,000
Annual lease rental <u>70,000</u>
Profit <u>105,000</u>
Explanation:
Profit equals annual sales minus material cost minus annual lease rental. Since the annual sales volume are 2,500,000 gloves at a price of $0.10 per pair, the total sales value will be $250,000. Material costs $0.03 per pair, thus, the total material cost will be $0.03 x 2500,000 pairs. Annual lease rental of $70,000 is treated as a fixed cost.
Answer:
Concurrent validation
Explantion:
Concurrent validation is employed to establish documented proof that a facility and process will function as they are intended, on the basis of information gotten during actual use of the process.
Concurrent validity is a type of proof that can be assembled to justify the use of a test for predicting other outcomes.
Answer:
$56,600.00
Explanation:
The amount the company spent on purchase of additional equipment during year 1 can be ascertained using the formula below:
amount spent on additional equipment=ending balance of equipment-(beginning balance-cost of equipment sold)
ending balance of equipment is $304,700
beginning balance is $341,200
cost of equipment sold is $93,100
amount on additional equipment=$304,700-($341,200-$93,100)=$56,600.00