The cost of goods manufactured is $34,000
What is cost of goods manufactured?
The cost of goods manufactured is the cost of the units of finished goods manufactured during the period under review.
The cost of goods manufactured is determined as opening work-in-process plus labor direct costs, direct materials cost, applied manufacturing overhead and thereafter we deduct the ending work in process, note that the estimated overhead is applicable since the materials are computed using the purchase cost
cost of goods manufactured=$13,000+$16,000+$10,000+$17,000-$22,000
cost of goods manufactured=$34,000
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Answer:
Efficiency requires that one lighthouse is built since the willingness to pay of all the residents together is larger than the cost of providing the lighthouse
Explanation:
Since the lighthouse is a public good, according to the coase theorem, if the combined willingness to pay for the lighthouse of all of the people living on the islands is higher than the cost of the lighthouse, then a lighthouse should be built.
The total willingness to pay is:
The population willingness to pay is higher than the cost of building one lighthouse ($2000) but lower than the cost of building two lighthouses ($4000). Therefore, efficiency requires that one lighthouse is built since the willingness to pay of all the residents together is larger than the cost of providing the lighthouse.
Answer:
Unit sales level multiplied by a constant unit contribution margin.
Explanation:
The change in period-to-period operating income when using variable costing can be explained by the change in the Unit sales level multiplied by a constant unit contribution margin.
Hope this helps!
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