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n200080 [17]
2 years ago
10

The opportunity cost of an item is?​

Business
1 answer:
Tanzania [10]2 years ago
3 0

Answer:

The idea behind opportunity cost is that the cost of one item is the lost opportunity to do or consume something else; in short, opportunity cost is the value of the next best alternative. Click to see full answer Herein, what is opportunity cost give example? Opportunity cost is the profit lost when one alternative is selected over another.

Explanation:

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Jones Company incurred the following costs while producing 100 chairs: Units produced 100 chairs Direct materials $10 per unit D
Vikentia [17]

Answer:

The answer is: The ending balance in Finished Goods Inventory is $1,200

Explanation:

First we have to calculate the cost per chair produced, to do this we will find the total cost and divide by the number of chairs produced:

Units produced  100 chairs

  • Direct materials  $10 per unit  x 100 = $1,000
  • Direct labor  15  per unit  x 100 = $1,500
  • Variable manufacturing overhead 3 per unit x 100 = $300
  • Total fixed manufacturing overhead  $2,000

Total costs are $4,800 / 100 chairs = $48 per chair produced

There are 25 chairs left in finished goods inventory (FGI) = 100 - 75 = 25

The ending balance in FGI is = 25 chairs x $48 per chair = $1,200

3 0
3 years ago
A shoe company's ads feature the members of a popular country music band. Product sales increase significantly among the band's
ruslelena [56]

Answer: (B) Reference group

Explanation:

 A reference group is basically refers to the individual and the group that is specifically used for the comparison purpose. It is one of the type of group that share a common attitude, beliefs and the behavior for making the various types of decisions.

 According to the given question, a shoe's company is one of the most popular music band as the products sales of the company significantly increase. Then, from the fans point of views the band is refers to the reference group.

 Therefore, Option (B) is correct answer.  

4 0
3 years ago
Carlita began 2014 with a taxes payable account balance of $3,000. On December 31, 2014, its taxes payable account balance is $7
aleksandr82 [10.1K]

Answer:

$2,000

Explanation:

The computation of the amount pay to the tax authorities during the year is shown below;

Let us assume the accrued payment be $6,000

Let us assume the amount pay to the tax authorities be X

Beginning Taxes payable account balance + Accrued payment - X = Ending taxes payable account balance

$3,000 + $6,000 - X = $7,000

$9,000 - X = $7,000

So, the X is

= $9,000 - $7,000

= $2,000

hence, the amount pay to the tax authorities is $2,000

4 0
3 years ago
A comparable sold ten months ago for $350,000. Appraiser Andy concludes that property values have increased by 5% per year. What
astraxan [27]

The adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.

<h3>Data and Calculations:</h3>

Value of property 10 months ago = $350,000

Increase in property values = 5%

Adjustment in property = $17,500  ($350,000 x 5%)

<h3>What is adjustment in property value?</h3>

This is the change in the value of property as a result of an increase or decrease in the values of comparable properties within the locality.

Thus, the adjustment in the property value should be <u>$17,500 increase</u> so that the property is valued at $367,500.

Learn more about adjustment in property values here: brainly.com/question/15397430 and brainly.com/question/7142333

7 0
2 years ago
Approach Company, which applies overhead to production on the basis of machine hours, reported the following data for the period
Aliun [14]

Answer: 10400 unfavorable

Explanation:

Firstly, we should note that the fixed overhead volume variance is the difference between the standard fixed overhead for actual output and the budgeted fixed overhead.

Budgeted fixed overhead = 780000

The standard fixed overhead for the actual output will be:

= Actual output × Number of hour per unit × the standard fixed overhead rate

= 14800 × 4 × 13

= 769,600

Then, the fixed overhead volume variance will be:

= 769600 - 780000

= 10400 Unfavorable

6 0
3 years ago
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