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Ronch [10]
3 years ago
10

Chess Top uses the perpetual inventory system. On May 1st, the beginning inventory consisted of 480 units that cost $65 each. Du

ring the month, the company made two purchases: May 3rd, 720 units at $68 each May 20th, 360 units at $70 each. Chess Top also sold 800 units on May 10th , Using the LIFO method, what is the amount of cost of goods sold for themonth
Business
1 answer:
Lyrx [107]3 years ago
5 0

Answer:

the amount of the cost of goods sold is $55,120

Explanation:

The computation of the cost of goods sold for the month is shown below:

Since 800 units were sold out of which 360 units would sold at $70 and the remaining units i.e. 440 units would be sold at $68

= 360 units × $70 + 440 units × $68

= $25,200 + $29,920

= $55,120

Hence, the amount of the cost of goods sold is $55,120

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In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, plan
alina1380 [7]

Answer:

B) 1,160.

Explanation:

First we must calculate planned aggregate expenditures (PAE) and then determine where Y = PAE:

PAE = consumption + planned investment + government spending + net exports = 100  + 0.75(Y - 40) + 50 + 150 +20 = 100 + 0.75Y - 30 + 50 + 150 + 20 = 290 + 0.75Y

Now we must determine where Y and PAE intercept:

Y = 290 + 0.75Y

Y - 0.75Y = 290

0.25Y = 290

Y = 290 / 0.25 = 1,160

*Planned aggregate expenditure = total planned spending, it differs from GDP because GDP includes unplanned investment.

PAE = C + Ip + G + NX   while  GDP = C + I + G + NX

5 0
2 years ago
Productivity may best be defined as
AleksandrR [38]
<span>The answer is C. Productivity is the ratio of outputs to inputs. This answer is correct because productivity is a measure of efficiency, and is not a measure of quantity, profit (revenue), or quality. Productivity is the measure of effectiveness in converting inputs to outputs.</span>
3 0
2 years ago
Read 2 more answers
How useful is GDP as an economic indicator? Answer in 4-6 sentences.
kherson [118]

Answer:

it represents the value of all goods and services produced over a specific time period within a country's borders.

Economists can use GDP to determine whether an economy is growing or experiencing a recession.

Investors can use GDP to make investments decisions

a bad economy means lower earnings and lower stock prices.

Explanation:

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4 0
2 years ago
"Christie and Jergens formed a partnership with capital contributions of $300,000 and $400,000, respectively. Their partnership
Katen [24]

Answer:

The Christie and Jergens's respective shares are $92,500 and $42,500.

Explanation:

For computing the Christie and Jergens's respective shares, first, we have to compute the remaining income which is to be shared between these two partners. The computation is shown below:

= Net income - salary - interest on total capital

= $135,000 - $60,000 - 10% × ($300,000 + $400,000)

= $135,000 - $60,000 - $70,000

= $5,000

So, the remaining income would be divided equally between the partners

Now

Christie shares = Salary + interest on capital + remaining income

                         = $60,000 + ($300,000 × $10%) + $2,500

                         = $60,000 + $30,000 + $2,500

                         = $92,500

And, the Jergens shares  =  interest on capital + remaining income

                                          = ($400,000 × $10%) + $2,500

                                          = $40,000 + $2,500

                                          = $42,500

3 0
3 years ago
Responsible drivers assess their personal fitness to drive before getting behind wheel Discuss 3 questions you should ask yourse
algol [13]

Explanation:

  • Q1.Can my eyes capture things within the normal distance?
  • Q2. Am I feeling normal without any illness?
  • Q3. Is hearing fine?

Answer for Q1: I would list down things that I could see from normal distance, objects on my left and right and would ask my family member to cross check.

Answer for Q2: Driving with heavy fever, or other illness sometimes make driving difficult. So it risks both passenger and driver's life.

Answer for Q3: I would self check with normal hands-free. I would check one ear at a time.

7 0
3 years ago
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