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grandymaker [24]
2 years ago
12

Information for Pidris Metalworks as of December 31 follows. Prepare (a) the company's schedule of cost of goods manufactured fo

r the year ended December 31; (12 Points).(b) prepare the company's income statement that reports separate categories for selling and general and administrative expenses. (12 Points).
Business
1 answer:
Julli [10]2 years ago
7 0

Answer: hello your question is incomplete attached below is the missing data. ( first image )

answer:

Attached below

Explanation:

A) company's schedule of cost of goods manufactured for year ended

attached below is the required schedule ( second Image )

B) Company's income statement

attached below is the company's income statement ( Image 3 and 4 )

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8 0
2 years ago
If a perfectly competitive firm with constant returns to scale was reorganized as a​ monopoly, its monopoly price would be​ ____
ikadub [295]

Answer:

The correct answers are: greater​ than; less than.

Explanation:

In the perfect competition model, the nature of the scale returns poses serious problems, whatever the case considered. Sise assumes that the returns of scale are increasing, the supply of companies is infinite; if they are constant, the offer is null, infinite or indeterminate (equilibrium case); if they are decreasing, the profit of the companies is strictly positive in the balance '. In the latter case, if they could do so, companies would be interested in dividing themselves, without any limit, into entities as small as possible.

5 0
3 years ago
If price is greater than average variable cost and less than average total cost at the profit-maximizing quantity of output in t
navik [9.2K]

Answer:

produce at an economic loss.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

In a perfectly competitive market in long-run equilibrium, a long-run equilibrium avails firms the opportunity to adjust all inputs and all fixed costs are maximized. Also, it's characterized by free entry and exit, as such there isn't a fixed number of firms. This simply means that, since the number of firms in a long-run equilibrium can change, a firm must exit the market as a result of losses i.e when the firm is unable to cover its fixed costs in the long-run while new firms are allowed entry into the market when it anticipates potential profits or gains.

However, the firms always strive to maximize profits by increasing their level of output, such that P = MC. Also, the firms wouldn't be willing to leave or enter into the market because they are not making any profit, such that P=AC.

In a nutshell, in the long run equilibrium P=MR=MC and P=AC.

Hence, if price is greater than average variable cost and less than average total cost at the profit-maximizing quantity of output in the short run, a perfectly competitive firm will produce at an economic loss.

Additionally, Average Total Cost (ATC) can be defined as the overall cost of production divided by total output of production. It is calculated by dividing total cost by total output of production or by adding TVC and TFC.

8 0
2 years ago
Q 5.36: Badger Enterprises purchased aluminum from JG Metals. When Badger Enterprises recorded this transaction, they made entri
disa [49]

Answer: periodic inventory system

Explanation:

The type of inventory system used by Badger Enterprises is the periodic inventory system. The periodic inventory system is an inventory whereby updates are usually done on periodic basis.

In the periodic inventory system, physical count of inventory is done at specific intervals. This is the method used by the company in the question.

5 0
3 years ago
Owens Corporation uses a process costing system. For March, the beginning work in process inventory consisted of 60,000 units th
Black_prince [1.1K]

Answer:

C) $4.02

Explanation:

The computation of cost per equivalent unit for processing cost for March is shown below:-

As we know that

Beginning work in process inventory units + Units started into production  = Ending work in process inventory units + Units completed and transferred out

60,000 + 190,000 = Units in ending work in process inventory + 200,000

Units in ending work in process inventory is

= 60,000 + 190,000 - 200,000

= 50,000

To complete the beginning work in process inventory:-      

Processing:                                                     24,000

60,000 units ×(100% - 60%) a

Units started and completed                          140,000

(200,000 − 60,000) b

Ending work in process inventory Processing:

50,000 units × 20% c                                      10,000

Equivalent units of production                        174,000

Cost added throughout the period e            7,00,000

Equivalent units of production f                     174,000

Cost per equivalent unit e ÷ f                             $4.02

5 0
3 years ago
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