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belka [17]
3 years ago
6

In 1913, pork chops cost an average of 20.9 cents per pound ($0.209). How much would those 1913 pork chops cost in 2012 dollars?

2
Business
1 answer:
valina [46]3 years ago
3 0

Answer and Explanation:

The price of pork chops per pound in 2012 is $3.57 according to Statista. This is a remarkable increase from 20.9 cents or $0.209 per pound from 1913.

Today pork chops cost even more at an estimated price of $4.25 per pork chop pound. A whooping 2033% increase from 1913. This is a good example of how much inflation has affected prices of goods in the last 100 years.

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Guns R Us overstated its ending inventory in the current year by $5,000. The company incorrectly reported $100,000 of net income
soldi70 [24.7K]

Answer:

B. Cost of goods sold will be too low by $5,000.

Explanation:

Overstatement in closing inventory has two effects. First in income statement, that the cost of goods sold is decreased by the same amount that is overstated. Second is overstatement of Inventory value in the asset section of balance sheet. According to the given scenario The effect of this event should be as cost of goods sold will be too low by $5,000.

4 0
3 years ago
In preparing the April bank reconciliation for Oscar Company, it was discovered that on April 10 a check was written to pay deli
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Explanation:

The correction of error is shown below:-

Expense of decrease delivery and cash by $9.

Therefore, to correct this error, which affect the cash is undercharged and delivery expenses to be overcharged. So, the company will decrease the delivery expenses and increase cash by $9, it came by deducting the 45 from $54 and recorded amount is 54.

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3 years ago
1. Give a brief description of the Business and Industry Endorsement.
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siness and Industry Endorsement.

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3 years ago
On August 10,2019 ABC sells 16 mini trenchers to a farm co-op in western Minnesota. ABC provides a 4% volume discount on the min
cestrela7 [59]

Answer:

If it was likely or probable that the farm co-op would meet the benchmark and get the discount (or rebate), then the journal entry should recognize that. But since it is very doubtful that the benchmark will be met, then the journal entry should be made without considering any type of discount.  

I looked for a similar question in order to find the missing numbers:

each trencher is sold at $3,600 and costs $2,000

August 10, 2019, 16 mini trenchers sold to farm co-op

Dr Accounts receivable 57,600

    Cr Sales revenue 57,600

Dr Cost of goods sold 32,000

    Cr Inventory 32,000

5 0
3 years ago
Locus Company has total fixed costs of $121,000. Its product sells for $67 per unit and variable costs amount to $57 per unit. N
Trava [24]

Answer:

13,915 units

Explanation:

With regards to the above, we need to determine first the target or desired profit.

Desired profit = $121,000 × 15% = $18,150

The next step is to calculate the contribution margin, which is the difference between selling price and variable cost.

Contribution margin = Sales - Variable cost

Contribution margin = $67 - $57

Contribution margin = $10 per unit

Target sales is therefore;

Target sales = (Fixed cost + Target profit) / Contribution margin

Target sales = ($121,000 + $18,150) / $10

Target sales = $139,150 / $10

Target sales = 13,915 units

8 0
3 years ago
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