Answer:
Cost of goods sold= $816
Explanation:
Giving the following information:
Acme-Jones Corporation uses a weighted-average perpetual inventory system.
August 2: 24 units were purchased at $23 per unit.
August 18: 40 units were purchased at $25 per unit.
On August 29: 34 units were sold.
Weighted-average= (23 + 25)/2= $24
Cost of goods sold= 34*24= $816
Answer:
The correct word for the blank space is: competitive.
Explanation:
Pricing strategies are methods companies use at the moment of setting the prices of their products. The most common pricing strategies are:
- Cost-plus pricing.<em> Involves recognizing the production costs and adding a percentage of those costs which represents the profit of the firm.
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- <u>Competitive pricing</u>.<em> Implies establishing the price of a product similar to what competitors in the market have set.
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- Value-based pricing.<em> It requires setting the price of goods and services based on what consumers think the price should be.
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- Price skimming.<em> Involves pricing a product high at first and changing the price according to market fluctuations.
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- Penetration pricing.<em> Implies setting the price of a product low to wipe out competitors and raising it after they completely disappeared.</em>
Answer:
Explanation: B Food Products & Processing Systems
The first step in making a choice is to define the issue at hand. When making judgments, related costs and benefits should be evaluated. When making judgments, extraneous costs and advantages should be overlooked.
Answer:
1. a. Only major materials and components.
Only the major materials and components are include as direct materials because these are the materials that directly needed for production.
b. Only hourly production workers (aka assembly workers).
The direct labor has to be those people who are directly involved in production which in this case is the assembly workers. Managers and Supervisors are not integral so are not direct labor.
c. Both big items that cannot be traced (e.g., factory rent) and small items that are not worth tracing (e.g., glue, grease).
All other items involved in production should be included as manufacturing overheads including big items and small items that cannot be traced.
2.
Rent for the factory building ⇒ <u>Manufacturing Overhead (OH).</u>
Cost of engines used in production ⇒ <u>Direct materials (DM).</u>
Depreciation on production equipment ⇒ <u>Manufacturing Overhead (OH). </u>
Cost of lubricant used in production. ⇒<u> Manufacturing Overhead (OH). </u>
Production supervisor's salary. ⇒ <u>Manufacturing Overhead (OH). </u>
Assembly workers' wages. ⇒ <u>Direct Labor.</u>
