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3 years ago

Why is Feeney called a hero/saint?

Business

1 answer:

Deffense [45]3 years ago

5 0

Answer:

In 1982, he decided he would commit to giving away his billions during his lifetime. He is broke now. Gave away and donated over $8million. His motto was "giving while living "

Explanation:

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In its first month of operations, Novak Company made three purchases of merchandise in the following sequence: (1) 190 units at

NikAS [45]

Answer:

Instructios are below.

Explanation:

Giving the following information:

Purchases:

190 units at $5

300 units at $7

395 units at $9

Assuming there are 250 units on hand

1) FIFO (first-in, first out). Under the FIFO method, the ending inventory cost is calculated using the cost of the last units incorporated.

Ending inventory= 250*9= $2,250

2) LIFO (last-in, first-out). Under LIFO method, the ending inventory cost is calculated using the cost of the firsts units incorporated.

Ending inventory= 190*5 + 60*7= $1,370

7 0

3 years ago

Suppose researchers at the University of Wisconsin discover a new vitamin that increases the milk production of dairy cows. If t

finlep [7]

If the demand for milk is relatively inelastic, the discovery will lower both price and total revenues.

Option - b

Explanation: 

Reducing prices to gain sales is a famous advertising tool. This type of situation arises mostly with every day products and services. If the quantity is increased, the demand will be inelastic this will lower both price and total revenue. Total revenue is reduced as price is reduced when demand is inelastic. When demand is inelastic, instead of reducing total revenue it could be hiked by raising price instead of reducing price.

Inelastic demand: In Economics, inelastic demand is even when the price of the product increases or decreases, the purchase rate of the product will be the same.

5 0

3 years ago

In 2000 Amelia was being paid $7,200 per week. The CPI was 0.418 in 2000. In 2020 Amelia found a job paying $35,000 per week. Th

AleksAgata [21]

Answer:

Explanation:

Real wage is defined as the nominal wage divided by the general price level, CPI. It is also the purchasing power of nominal wage.

Nominal wages are the wages received by a worker in the form of money.

Given:

In 2000:

Amelia nominal salary = $7,200 per week. CPI = 0.418

In 2020:

Amelia nominal salary = $35,000 per week

CPI = 2.40

Where CPI is an inflation measure.

Real salary = salary /(1 + inflation rate)

Inflation rate = (CPI2 - CPI1)/CPI1 × 100

Real salary I = salary/CPI

Real salary in 2000 = 7200/0.418

= $17224.88 per week

Real salary in 2020 = 35000/4.74

= $7384 per week

Nominal salary in 2000 compared to that in 2020,

Finding the difference = $7200 - $35000

= -$27800 per week

Real salary in 2000 compared to that in 2020,

Finding the difference = $17224.9 - $7384

= $9840.9 per week

7 0

3 years ago

A company has a net sales of 847000 and cost of goods sold of 561500. Its net income is 101200. The company's gross margin and o

SVETLANKA909090 [29]

Answer:

Gross profit margin = 33.7%

Operating expenses = $184,300

Explanation:

The gross margin is the percentage of sales value is earned as gross profit.

Gross profit = Sales - cost of goods sold

=847,000 -561,500 =$285,500

Gross profit margin = (Sales - cost of goods sold)/sales × 100

= (847,000 -561,500/847,000) × 100

= 33.7%

Operating expenses represent the amount of indirect cost expenditures which cannot be traced to the cost of the goods sold . This include administrative expenses like rent, insurance e.t.c

Operating expense = Gross profit - Net income

= (847,000 -561,500) - 101,200

= 184,300

5 0

3 years ago

Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer

HACTEHA [7]

Answer:

Cost of goods sold= $7,395,300

Direct material cost= $3,727,200

Direct labor cost= $3,137,300

Explanation:

A. Calculation to Determine Cost of goods sold using this formula

Cost of goods sold = Sales - Gross Profit

Let plug in the formula

Cost of goods sold= $ 12,755,000 - 5,359,700

Cost of goods sold= $7,395,300

Therefore Cost of goods sold will be $7,395,300

B. Calculation to Determine Direct material cost using this formula

Direct material cost= Material purchased - Indirect materials - Material Inventory, end of period

Let plug in the formula

Direct material cost= 4,251,600 - 185,500 - 298,900

Direct material cost= $3,727,200

Therefore Direct material cost will be $3,727,200

c. Calculation to determine Direct labor cost using this formula

Direct labor cost= Total manufacturing cost - Direct material costs - other factory overhead - Indirect labor

Let plug in the formula

Direct labor cost= 8,122,000 - $3,727,200 - 834,900 - 422,600

Direct labor cost= $3,137,300

Therefore Direct labor cost will be $3,137,300

8 0

3 years ago