Answer:
$243,900
Explanation:
Calip corporation reported the following results for the month of October
Sales= $413,000
Cost of goods sold= $169,100
Total variable sling expenditure= $20,700
Total fixed selling expense= $17,900
Total variable administrative expense= $13,100
Total fixed administrative expense= $30,400
The contribution margin can be calculated by subtracting the total cost of goods sold from the sales
= $413,000-$169,100
= $243,900
Hence the contribution margin for October is $243,900
Answer:
$162,000
Explanation:
The amount of cost of goods manufactured is computed as
= Labor cost + Direct materials purchased + overhead costs - ending balance of materials - ending balance of work in process
= $57,000 + $25,000 + $88,000 - $3,000 - $5,000
= $162,000
Hence, the cost of goods manufactured is $162,000
Explanation:
To find - Fill in the type of cost that best completes each sentence.
Profits equal total revenue minus ______________ .
The term __________ refers to costs that involve direct monetary payment by the firm.
_____________ is falling when marginal cost is below it and rising when marginal cost is above it.
The cost of producing an extra unit of output is the _____________ .
__________ is always falling as the quantity of output increases.
The opportunity cost of running a business that does not involve cash outflow is a(an) ____________ .
Proof -
Profits equal total revenue minus TOTAL COST
.
The term EXPLICIT refers to costs that involve direct monetary payment by the firm.
AVERAGE VARIABLE COST is falling when marginal cost is below it and rising when marginal cost is above it.
The cost of producing an extra unit of output is the MARGINAL COST.
AVERAGE FIXED COST is always falling as the quantity of output increases.
The opportunity cost of running a business that does not involve cash outflow is a(an) IMPLICIT COST.
Answer:
$2200000
Explanation:
Given: Beginning inventory= $500000.
Inventory purchased= $2000000 with discount of 10%.
Freight cost= $200000.
Ending Inventory= $300000.
Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
⇒ Cost of goods sold= 
Opening parenthesis
⇒ Cost of goods sold= 
∴ Cost of goods sold= 
Hence, $2200000 is the company’s 2017 cost of goods sold.
Vertical distance is simply known as vertical separation. It is the distance between two vertical positions. The vertical distance between the total cost and the total variable cost curves differs by an amount which is constant as output changes.
The vertical distance between the total cost and the total variable cost curves is known too be equal to total fixed cost.
Total variable cost (TVC) often increases as output increases. Average fixed cost (AFC) is simply defined as the fixed costs of production (FC) and it is divided by the quantity (Q) of output produced.
Fixed costs are known as those costs that need to be incurred in fixed quantity even with the level of output produced.
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