From the graphs presented for both the perfect competition and monopoly, the price for 5 purses in perfect competition is $30 and that in the monopoly is $50. The price is obviously lower in the perfect competition than in monopoly by $20. Thus, the answer would be letter C.
Answer:
$100
Explanation:
The computation is shown below;
We know that
Cost of material used = Beginning balance of raw material inventory + purchase made during the month - ending balance of raw material inventory
$900 = Beginning balance of raw material inventory + $1,000 - $200
$900 = Beginning balance of raw material inventory + $800
So, the Beginning balance of raw material inventory would be
= $900 - $800
= $100
Answer:
Estimation of the non-value-added Cost:
a) Cost of automating the insertion process:
Machine time cost = 15/60 x $8 = $2
Material cost = 7.5 x $10 = $75
Total automation cost = $77
b) Cost of redesigning the gear:
Cost per setup hour = $50 x25% = $12.50
c) Movement cost:
Cost for movement = $20 x 6 = $120
d) Inspection cost:
Cost of inspection = 16,000 x $12 = $192,000
Explanation:
Non-Value Added activities, according to goleansixsigma.com, "are the process steps that do not meet one or more of the following criteria: 1) The step transforms the item toward completion (something changes). 2) The step is done right the first time (not a rework step). 3) The customer cares (or would pay) for the step to be done."
A non-value-added cost is a production expense that does not increase the amount customers are willing to pay for the finished product. Examples are inspection cost, movement cost, and automation cost.
Health insurance, rent,and bank account
The entry to record the issuance of a note receivable is debit Notes Receivable and credit Cash.
<h3>
What is Note Receivable ?</h3>
A note receivable is an asset account tied to an underlying promissory note, which details in writing the payment terms for a purchase between a “payee” (typically a company, and sometimes called a creditor) and the “maker” of the note (usually a customer or employee, and sometimes called a debtor).
The journal entry for interest on a note receivable is to debit the interest income account and credit the cash account.
Notes receivable are a balance sheet item that records the value of promissory notes that a business is owed and should receive payment for. A written promissory note gives the holder, or bearer, the right to receive the amount outlined in the legal agreement.
Learn more about Note Receivable on:
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