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zlopas [31]
3 years ago
11

Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overh

ead applied: $120,000; Beginning Work in process inventory: $30,000; Ending Work in process inventory: $12,000 Multiple choice question.
Business
1 answer:
vfiekz [6]3 years ago
4 0

Answer:

cost of goods manufactured= $278,000

Explanation:

Giving the following information:

Direct materials: $40,000

Direct labor: $100,000

Manufacturing overhead applied: $120,000

Beginning Work in process inventory: $30,000

Ending Work in process inventory: $12,000

<u>To calculate the total manufacturing costs, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000

cost of goods manufactured= $278,000

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It means that it produces less than the output at which the average total cost is minimized

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The substitution effect of an increase in the price of Raisin Bran refers to Select one: a. the decrease in the demand for Raisi
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Answer:

the fact that the higher price of Raisin Bran relative to its substitutes, such as Cheerios, causes consumers to buy less Raisin Bran.

Explanation:

the substitution effect arises when as a result of a rise in the price of a good, the good becomes more expensive relative to its substitutes. Consumers not consume less of the good and more of the substitute. This leads to a movement up along the demand curve for that goods and not a movement along the demand curve for the good and not a shift of the demand curve.

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The income effect is when an increase in price lowers consumer's purchasing power, holding money income constant.

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2 years ago
If the equilibrium price of avocados is $4 and the government issues a price ceiling of $4.50, what is likely to happen in the m
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A surplus of avocados will result from the price ceiling.

Explanation:

A price ceiling is when the government or an agency of the government sets the maximum price for a good or service.

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The correct answer is option B.

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<h3>What is Franchisee?</h3>

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