Answer:
Option (A) is correct.
Explanation:
Given that,
Units sold = 6,000 units
Sales = $565,000
Selling and administrative expenses = $67,000
Operating income:
= Sales - Cost of Goods Sold - Selling and administrative expenses
= $565,000 - ($305,000 + $14,000 + $43,000 - $42,000) - $67,000
= $565,000 - $320,000 - $67,000
= $178,000
Therefore, the operating income for the year is $178,000.
Answer: secondary data
Explanation:
The type of data above is refered to as a secondary data. Secondary data simply refers to the data that have already been gotten or collected from the past.
Unlike the primary data, which is collected by the individual, secondary data have already been done in the past. Since he first reviewed existing data on seasonal spending collected by the government, this is a secondary data
Equilibrium quantity will increase; the effect on price is ambiguous.
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Explanation:</u></h3>
When there is a situation in which the supply and the demand for any product is equal then it is said to be Equilibrium quantity. When there is an intersection where the supply and demand curves meets each other it give rise to the state of equilibrium.
In the given example, there are two cases such as the price of the milk will rise which is published in newspaper and the production efficiency of the milk is improved with a new and improved pasteurization process. From these two effects we can conclude that Equilibrium quantity will increase; the effect on price is ambiguous.
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