All categories

4 years ago

The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.

Business

1 answer:

nasty-shy [4]4 years ago

7 0

Answer:

Clarkson Company

Income statement for the year ended June 30, 2020

Sales Revenue $555,000

Less Costs of Goods Sold :

Opening Finished Goods Inventory $96,100

Add Cost of Goods Manufactured $390,520

Less Closing Finished Goods Inventory ($19,900) ($466,720)

Gross Profit $83,280

Explanation:

First prepare a Schedule of Manufacturing Costs to determine the Cost of Goods Manufactured.

Schedule of Manufacturing Costs

Factory Insurance $4,700

Raw Materials ($48,100 + $96,500 - $39,700) $104,900

Factory Machinery Depreciation $16,100

Factory Utilities $28,700

Direct Labor $139,350

Plant Manager’s Salary $61,100

Indirect Labor $24,560

Factory Property Taxes $9,610

Factory Repairs $1,500

Add Opening Work In Process Inventory $19,900

Less Closing Work In Process Inventory ($19,900)

Cost of Goods Manufactured $390,520

You might be interested in

Lawrence Summers served as secretary of the treasury in the Clinton administration and as director of National Economic Council

babunello [35]

Answer:

A) taking the cost into account because money spent on pollution reduction is not available for other worthy activities.

Explanation:

The economic approach tries to find solutions for problems optimizing the use of economic resources, therefore reducing costs and increasing benefits for every dollar spent.

Resources are scarce and that includes everyone, from a normal individual, to the richest person in the world, or the richest country in the world. The economic approach states that we should all try to maximize the benefits we obtain while exchanging resources. For example, if we need to study for a text and we know that solving problems helps us to learn more than just reading, then we should spend more time solving problems than reading because that way we can increase our benefits.

The US government and every other government in the world works on a budget and the money it spends doing A, will not be spent doing B. So the government must decide which actions to take in order for maximizing the benefits of the population (i.e. choose between A or B depending on which causes the greatest common good).

4 0

3 years ago

What if Jennifer were to invest $2.750 today, compounded semiannually, with an annual interest rate of 5.25%. What amount of int

KIM [24]

Answer:

d. $146.27

Explanation:

For computing the interest earned, first we have to calculate the future value which is shown below:

Future value = Present value × (1 + rate)^number of years

where,

Present value = $2,750

Rate = 5.25% ÷ 2 = 2.625%

Number of years = 1 year × 2 = 2 years

So, the future value

= $2,750 × (1 + 2.625%)^2

= $2,750 × 1.0531890625

= $2,896.27

Now the interest earned would be

= $2,896.27 - $2,750

= $146.27

7 0

3 years ago

From the list on your right select the letter that contains the word, phrase, name, etc that best matches the word, phrase, name

Sholpan [36]

Answer:

A - Intellectual Property Rights - can be used for innovations

B - A good is non excludable but could be rivalrous or non rivalrous. - Free rider problem

C - An example of "There is no such thing as a fee lunch" National Defense

D - Overproduction - Negative externality

E - Excludable Rivalrous

F - The area of the triangle in a demand and supply model which is formed as a result of negative or positive externality. - Magnitude of market failure

G - Non excludable and Rivalrous - Free rider problem

H - Market output will be lower than the socially efficient / optimal level of output. - Positive externality

I - At the intersection of marginal social cost curve and the demand curve.

J - The level of output where negative externality is equal to positive externality - Market producing socially optimal level of output.

K - Decline in production due to external factors such as bad news coverage about a product. Negative externality

L - A positive or negative side effect of an action that affects the wellbeing of a bystander or Third party. Externality

M - Subsidy positive externality

N - Both excludable and non rivalrous Congested non troll road

O- Taxation - national defense

Explanation:

When the market is producing optimal level of output then there will be no negative or positive externality. The positive externality is one when a firm cannot attain the full benefits of the decision made by them. Negative externality is one in which there is some undesirable impact of the market condition on the production.

8 0

3 years ago

When interacting with a customer who has a rational style and keeps communication brief, your best strategy is to

kakasveta [241]

The best strategy which a person should use when interacting with a customer who has a rational style and keeps communication brief is:

Ask open-ended questions to obtain information.

<h3>What is Communication?</h3>

This refers to the exchange of information between two or more people where feedback is given through a medium.

With this in mind, we can note that because the customer has a rational style and communicates in a straightforward manner, then the best strategy would be to ask open-ended questions to obtain information.