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Mice21 [21]
3 years ago
12

Lopez Corporation incurred the following costs while manufacturing its product.

Business
1 answer:
grandymaker [24]3 years ago
8 0

Answer:

$358,150

Explanation:

Cost of goods manufactured is calculated in a Schedule of Manufacturing Costs as follows :

Cost of goods manufactured = Beginning Work In Process + Total Manufacturing Costs - Ending Work In Process

where,

Total Manufacturing Costs :

Materials used in product              $124,260

Depreciation on plant                     $69,650

Property taxes on plant                   $21,750

Labor costs of assembly-line        $120,570

Factory supplies used                     $25,810

Total                                               $362,040

therefore,

Cost of goods manufactured = $13,700 +   $362,040 - $17,590 = $358,150

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416,000 people each receive an average refund of $3,600, based on an interest rate of 3 percent, what would be the lost annual i
victus00 [196]

Answer:

$44,928,000

Explanation:

The fact that 416,000 received a refund of $3,600 each means that the tax authority would lose the interest income that could have been generated on the total refund amount based on a 3% interest rate of return.

Lost annual income=number of people who got refund*average refund per person*interest rate of return

number of people who got refund=416000

average refund per person=$3,600

the interest rate of return=3%

Lost annual income=416,000*$3,600*3%

Lost annual income=$44,928,000  

6 0
3 years ago
The Haskins Company manufactures and sells radios. Each radio sells for $76.00 and the variable cost per unit is $40.00. Haskin'
nevsk [136]

Answer:

The answer is $36.00

Explanation:

Contribution margin per unit is when variable cost per unit is subtracted from selling price per unit. Contribution is that part of revenue that was not used by variable costs and was used to cover fixed costs

selling price per unit = $76.00

variable cost per unit = $40.00

Therefore, contribution margin per unit is $76.00 - $40.00

= $36.00

5 0
3 years ago
The ABC Auto Supply Company of Burlington, Vermont, uses an e-commerce software program on its website to allow customers such a
timama [110]

Answer: B2B ( Business to business)    

Explanation:

The Business to business (B2B) is one of the marketing process in which the products are promoted to the other organization or any business by using the various types of business operations or functions.

The business to business marketing plays an important role as it allow various types of organization for expanding the business in the market.

According to the given question, the ABC auto supply is one of the firm that are basically using the E commerce software that allow the users or consumers for ordering their auto parts.

Therefore, The ABC company is basically follows the B2B business model.

4 0
3 years ago
What is the four parts of SWOT analysis
forsale [732]
<span>strengths, weaknesses, opportunities and threats.</span>
4 0
3 years ago
Which term best completes the outline?
Strike441 [17]

Answer:

C. Market.

Explanation:

An economy is a function of how money, means of production and resources (raw materials) are carefully used to facilitate the demands and supply of goods and services to meet the unending needs or requirements of the consumers.

Hence, a region's or country's economy is largely dependent on how resources are being allocated and utilized, how many goods and services are to be produced, what should be produced, for whom they are to be produced for and how much money are to be spent by the consumers to acquire these goods and services.

Basically, there are four (4) main types of economy and these are;

I. Mixed economy.

II. Command economy.

III. Traditional economy.

IV. Free market economy.

A free-enterprise system also referred to as capitalism or free market can be defined as a type of economy in which prices, products and services are being determined by the market rather than the government. Thus, a free-enterprise system is devoid (free) of government regulations, interference or control because the market (enterprises) are the ones who are saddled with the responsibility of determining the market forces.

Simply stated, a free-enterprise system is a type of economy that is completely driven by demand and supply of goods and services.

The four (4) main elements or characteristics of a free enterprise system includes the following;

a. Profit: businesses are all out to generate revenue and profit through the sales of finished goods.

b. Economic freedom: means of production of goods and services are controlled by the people rather than the government. Thus, the producers are free to make their economic choices or decisions such as deciding on how much is to be charged on a product.

c. Private ownership of properties: the various factors of production are owned and allocated by the people. Thus, citizens have rights to the ownership and use of private property.

d. Competition: there are many buyers and sellers of homogeneous products, as well as free entry and exit in the market. Thus, consumers are free to make their economic choices or decisions such as deciding on which product to buy, which goods interest them, where to shop for goods, etc.

In conclusion, a market is characterized by the following economy;

I. Economic freedom

II. Competition between businesses

III. Decisions motivated by profit

5 0
3 years ago
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