Answer:
The amount of raw materials transferred to work in process is $98,000.
Explanation:
Given that, at the beginning of its business operations, Fortune Company had a raw material inventory of $ 16,000 and that, during the business year, it acquired another quantity of raw materials for $ 92,000, the total of raw materials in the company's stock had a total value of $ 108,000 (16,000 + 92,000).
Now, if at the end of the balance the value of the raw materials was $ 10,000, the amount of raw material that was incorporated into the production process was a value of $ 98,000 (108,000 - 10,000).
Answer:
$162,000
Explanation:
The amount of cost of goods manufactured is computed as
= Labor cost + Direct materials purchased + overhead costs - ending balance of materials - ending balance of work in process
= $57,000 + $25,000 + $88,000 - $3,000 - $5,000
= $162,000
Hence, the cost of goods manufactured is $162,000
Answer:
Critique of advertising.
Explanation:
Advertising is a marketing strategy used by organizations or individuals to convince or persuade a consumer to buy their products.
It is used to promote goods and services using a multimedia channel such as television, radio, billboards etc.
Critique of advertising postulates that adverts usually urge or prompt consumers to buy products even when they don't need it.
Answer:
C. 1.25
Explanation:
Mathematically;
Capacity utilization rate= actual output per hour / operating level rate per hour
Actually output per hour= 500units
Operating level rate per hour= 400
Hence,
Capacity utilization rate= 500/400
Capacity utilization rate= 1.25
Answer:
a. Revenue provides only outward flows of cash.
b. Revenue is a subdivision of Assets.
d. Expenses are part of Total Assets.
Explanation:
Revenue is the income a business receives from its regular trading activities. It is the money realized from the sale of goods and services to customers. A company may have different sources of revenue such as interests received, sales, or disposal of assets.
Revenue is cash coming to the business or cash inflows. cash outflows is money leaving the company. Expenses are an example of cash outflows.
