Answer:
$147,400
Explanation:
The computation of the cost of goods manufactured is shown below:
= Direct materials used + Direct labor cost + Manufacturing overhead cost + beginning work-in-process inventory - ending work-in-process inventory
= $56,400 + $30,100 + $52,400 + $29,000 - $20,500
= $147,400
We considered the applied manufacturing overhead cost instead of actual manufacturing cost
Answer:
The answer is e. the trader who commits to purchasing the commodity on the delivery date.
Explanation:
The long position in a forward position agrees to buy the stock when the contract expires. The long futures position is an unlimited profit, unlimited risk position that can be entered by the futures speculator to profit from a rise in the price of the underlying
The Contribution Margin per unit (CM) can be calculated
from the difference of Selling Price per unit (SP) and Total Expenses per unit
(TE).
First, let’s calculate the value of SP:
SP = Sales / Units sold
SP = $1,043,400 / 22,200 units sold
SP = $47
Second, calculate all expenses:
Direct materials per unit = $234,948 / 27,970 units
manufactured = $8.4
Direct labor per unit = $131,459 / 27,970 units
manufactured = $4.7
Variable manufacturing overhead per unit = $240,542 / 27,970
units manufactured = $8.6
Variable selling expenses per unit = $113,220 / 22,200
units sold = $5.1
TE = $26.8
Therefore the CM is:
CM = SP – TE
CM = $47 - $26.8
CM = $20.2 per unit
The correct answer to this open question is the following.
Although there are no options attached, we can say the following.
What I would do is to allow employees to select the vendors and products to sell. However, for this action to be successful, I would establish clear criteria to be followed by employees so they can select from that criteria what the can and can't offer.
I think a certain degree of autonomy is important for the employee to be better involved in the selling of products. It is like taking into consideration its skill and abilities and let them use them in the workplace. But as I wrote above, employees have to have some parameters in which they can decide the best option. Those parameters will be approved by top management.
Answer:
Mixed economic system
Explanation:
A mixed economy is an economy systems that combine both the attributes of capitalism and socialism. That is some of enterprises of the economy are owned and controlled by the government while the rest are left in the hands of private individuals. In some instances, both of them participate in a sector of the economy. For example, in the Nigeria's electricity sector, the federal government generates electricity while private individuals distribute it.
Further explanation for a better understanding:
Basically, there three types of economic system: capitalism, socialism and mixed economy.
Capitalism is an economic system in which the control of trade and industry is in the hands of private individuals. That is, these private individuals are the owners of means of production and the profit that may be derived from them. It believes that the government should not have any hand in running the economy but just concentrate on politics. The main characteristic of the system is that price is used in allocating the resources of the economy.
Socialism is an economic system in which the control of trade and industry of country is left in the hand of the community as a whole which is the government. That is, the means of production, distribution, and exchange are owned and controlled by the government. The main characteristic of the system is that government determines how resources are allocated in the economy.
A mixed economy combines both capitalism and socialism as explained above.
I wish you all the best.
