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AveGali [126]
2 years ago
7

GeonHouses, a leading manufacturer and supplier of crockery, charges three dollars for each soup bowl. The cost of manufacturing

each soup bowl is one dollar. In this scenario, the difference between the price GeonHouses charges per soup bowl and the cost of making it is referred to as _____.
Business
1 answer:
vagabundo [1.1K]2 years ago
8 0

The difference between the price that GeonHouses charges its customers and the cost of manufacturing a bowl of soup is <em>C. captured value.</em>

The captured value represents the difference between the $3 selling price and the $1 cost of manufacturing a bowl of soup for customers.

This captured value is also known as the gross profit.  Based on the gross profit, GeonHouses deduct its expenses and taxes to determine the actual net income.

The $2 difference is not an <em>abstract, modified, or differentiation value.</em>

Data and Calculations:

Selling price per bowl of soup = $3

Manufacturing cost per bowl = $1

Captured value = $2 ($3 - $1)

Thus, the $2 difference is a captured value for GeonHouses.

Learn more: brainly.com/question/21637154

Options for this question are:

A. abstract value

B. modified value

C. captured value

D. differentiation value

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The purpose of advertising is _____. to convince consumers that they can benefit from a product or service to entertain consumer
maksim [4K]

The correct question should be:

The purpose of advertising is _____.

a.) to convince consumers that they can benefit from a product or service.

b.) to entertain consumers.

c.) to take money from consumers communicate the facts about the product.

Answer: to convince consumers that they can benefit from a product or service.

Explanation:

Advertising aims at highlighting the benefits of consuming a particular product/service to a consumer.

Advertising is a marketing technique where a company pays to showcase the qualities of their product/services to their target consumers.

3 0
3 years ago
Development associates (da) agrees to buy five acres of land from eastside properties for $15,000. eastside fails to go through
Nana76 [90]
$2,000 is the amount of money that the Development associates may recover. When the Eastside fails to go through with the deal on the agreed date, when the market price of the land is $17,000 then the price of the land on the agreed date is only $15,000. So the DA may recover the $2,000.
8 0
3 years ago
When using the specific identification inventory method, cost of goods sold equals the ______.
aleksandrvk [35]

With the <em>specific identification inventory method</em>, the Cost of Goods Sold equals the <em>exact costs of the items sold.</em>

The <em>specific identification inventory method</em> tracks each sold item to record its cost.  The Cost of Goods Sold includes only the actual cost of the items sold and not an average or assumed cost.

The <em>specific identification inventory method</em>  is not like the:

  • FIFO (First-in, First-out) method that assumes that items sold are from the first inventories in the store
  • LIFO (Last-in, First-out) method that assumes that items sold are from the last inventories in the store
  • Weighted-average method that takes the average cost for all the items in store to determine the cost of goods sold.

Thus, the <em>specific identification method</em> ensures that the Cost of Goods Sold equals the actual cost of the goods.

Read more: brainly.com/question/18522650

4 0
2 years ago
True or false: Merchandise inventory is generally converted to cash more quickly than accounts receivable.
Makovka662 [10]

Answer:

False

Explanation:

Merchandise inventory is the stock that company have to kept in its godown while the account receivable is that when company sold the goods on credit basis to the customer

So here the company could received the payment within 12 months it can be in within month also

So the given statement is false

3 0
2 years ago
Roberts Supply, Inc. provides the following data taken from its third quarter budget: Sep $83,000 $67,000 $59,000 Jul Aug ter Ca
Bumek [7]

Answer:

The answer is 1000 dollars.

Explanation:

In this question we are asked to calculate the cash closing balance as at 30 september. The opening cash balance that is 10000 dollars is given and, data related to the receipt and payments made in the quarter ended at september is also provide in the question.

We can easily calculate the cash balance as at 30 september with the help of accounting equation given below.

Closing Balance = Opening balance + Cash collections- Cash payments

                            = 10,000+ 209,000- 218,000*

                            = 1000$

* It include sum of all capital expenditures, operating expenses and purchases of direct material.

5 0
3 years ago
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