Answer: The free enterprise economy seeks to maintain economic freedom. As mentioned earlier, the goal is for businesses to be able to make their own decisions with little government interference. Efficiency - The goal of efficiency is to make the best use of the resources that are available.
Many companies make other goals a priority over profit maximization. Additionally, some aspects of running a business that meets social and environmental obligations take away from the sole focus of profit maximization.
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Answer:
$9,920
Explanation:
The computation of the desired beginning inventory as on June 1 is shown below:
Inventory as on June 1 = Given percentage of the cost of goods sold in the month of June
= 10% × (40% × $248,000)
= 0.10 × $99,200
= $9,920
As the cost of goods sold is 40% of sales so we considered this thing and according to it we find out the beginning inventory
Answer:
b. $311,600
Explanation:
For the computation of total contribution margin first we need to find out the contribution margin per unit which is shown below:-
Contribution Margin per Unit = Contribution Margin ÷ Units Sold
= 319,200 ÷ 8,400
= $38
Total Contribution Margin = Contribution Margin per Unit × Units Sold
= $38 × 8,200
= $311,600
Therefore for computing the total contribution margin we simply applied the above formula.
