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UNO [17]
2 years ago
5

A combination of high crude oil prices and government subsidies for ethanol have led to a sharp increase in the demand for corn

in recent years. How will this increase in demand for corn influence (a) the price of corn; (b) the quantity of corn supplied; (c) the cost of producing soybeans and wheat, crops that are often produced on land suitable for production of corn; (d) the price of cereals, tortillas, and other products produced from corn; and (e) the price of beef, chicken, and pork, meats produced from animals that are generally fed large quantities of corn
Business
1 answer:
Firlakuza [10]2 years ago
3 0

Answer:

a) Increase

b) Increase

c) Increase

d) Increase

e) Increase

Explanation:

a) The price of corn

The increase in the demand for corn will cause an increase in the price of corn

b) The quantity of corn supplied

The quantity of corn supplied will increase rapidly in the short run before equilibrium will be established in the market

c) The cost of producing soybeans and wheat crops will Increase due to the High demand for corn hence the supply will decrease as well

d) The price of cereals and other products produced from corn will Increase as well

e) The price of beef and other meat gotten from animals that fed on Corn will Increase as well because the cost of their feed will increase

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It is argued that LIFO should not be allowed to compute net income because a. it does not match costs to revenues, especially wh
Bogdan [553]

Answer:

d. it causes profits to be understated when prices are rising and allows a company to dodge taxes.

Explanation:

The LIFO method should not be permitted to determine the net income as in this case the profits would be understated at the time when price is increased due to this it permits the company to dodge taxes as the inventory consumed in the production process also the high inventory value would be involved in the cost of sales that represent the high cost, this result in lower profits and taxes

Hence, the option d is correct

8 0
3 years ago
Prepare the journal entries for Mayhem Manufacturing:
Rama09 [41]
Organization Expenses Dr 7,500
Cash 7,500

June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000

June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000
6 0
3 years ago
Byrd Company decided to analyze certain costs for June of the current year. Units started into production equaled 14,000 and end
Molodets [167]

Answer: Option (C) is correct.

Explanation:

Units Started into the production = 14,000 Units

Ending work in process = 2,000 units

Transferred Units = Units in the starting - Ending work in process

                              = 14,000 units - 2,000 Units

                              = 12,000 Units

Equivalent units = Transferred units + Ending work in process in units × % of Completion

                            = 12,000 Units + 2,000 Units × 25% complete

                           = 12,000 + 2,000 × 0.25

                           = 12,000 units + 500 units

                            = 12,500 units

Total Conversion cost = $52,500

Conversion\ cost\ per\ Equivalent\ unit=\frac{Total\ Conversion\ cost}{Equivalent\ Units}

Conversion\ cost\ per\ Equivalent\ unit=\frac{52,500}{12,500}                                                          

                                                                        = $4.2

5 0
3 years ago
Benjamin Garcia's start-up business is succeeding, but he needs $210,000 in additional funding to fund continued growth. Benjami
Dima020 [189]

Answer:

Missing word <em>"Because the stock will be sold directly to an investor, there is no spread; the other flotation costs are insignificant"</em>

<em />

Fair Price is based on the current valuation of business and that is $840,000 in this case.

Fair Price = Current Value of Business/Number of Outstanding Shares

Fair Price = $840,000 / 37,000 shares

Fair Price = 22.7027027

Fair Price = $22.70.

Number of Additional Shares = Additional Funding Required/Fair Price Per Share =

Number of Additional Shares = $210,000 / $22.70

Number of Additional Shares = 9251.101321585903

Number of Additional Shares = 9251 shares

So, since additional funding of $210,000 is required, Benjamin will have to sell 9,251 shares as additional shares to the Angel.

6 0
3 years ago
Parker Industries is a small company with a big name! Parker Industries is actually a one-person company that imports strands of
Tamiku [17]

Answer:

Total fixed costs= $150

Explanation:

Giving the following information:

Parker's only overhead is a storage unit for the inventory that costs $125 a month and a $25 monthly fee for website hosting.

<u>A cost is categorized as fixed because it does not vary with production (in relevant ranges).</u>

In this case, the only two cost that is fixed is the storage and website hosting.

Total fixed costs= 125 + 25= $150

7 0
3 years ago
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