Answer:
Ramapo Company
The factory overhead allocated per unit of Dinks is:
= $56.94.
Explanation:
a) Data and Calculations:
Product Number of Units Direct Labor Machine
Hours Per Unit Hours Per Unit
Blinks 1,048 4 7
Dinks 2,236 5 6
Fabrication Assembly
Estimated overhead $82,200 $102,000
Machine hours:
Blinks 7,336
Dinks 13,416
Total machines hours 20,752
Direct Labor hours:
Blinks 4,192
Dinks 11,180
Total machines hours 15,372
Total factory overhead Blinks Dinks
Fabrication department $29,058 $53,142
Assembly department 27,816 74,184
Total allocated overhead $56,874 $127,326
Units produced 1,048 2,236
Factory overhead per unit $54.27 $56.94 ($127,326/2,236)
One large bakery still receives flour in 25-pound bags from their own company's warehouse. They use an average of 5500 bags a year. The production step that uses these bags use 35 bags per day while the usage is 16 bags per day. It costs $12.00 to configure the machines for each run. Annual carrying costs are $7.50 per bag. What will be their average number of bags on hand if they request the EPQ bags in each order
Answer:
48.87 bags
Explanation:
First, we need to calculate the EPQ as follow
EPQ = [tex]\sqrt{\frac{2 D S }{H(1-d/p)}}[/tex]
Where
D = Annual Demand = 5500
S = Setup cost = $12
H = Carrying cost = $7.5
d = Daily usage = 16
p = Daily production = 35
Placing value sinthe formula
EPQ = [tex]\sqrt{\frac{2 X 5500 X 12 }{7.5(1-16/35)}}[/tex]
EPQ = [tex]\sqrt{\frac{132000 }{4.07142857}}[/tex]
EPQ = [tex]\sqrt{32421.05}[/tex]
EPQ = 180.06
Now Calculate the average number of bags in hand as follow
Average Number of Bags = [tex]\frac{EPQ}{2} X ( 1 - d/p )\\[/tex]
Placing values in the formula
Average Number of Bags = [tex]\frac{180.06}{2} X ( 1 - 16/35 )\\[/tex]
Average Number of Bags = 48.87
Wesley lives in a country with little protection under the law for conducting business or bringing his ideas about a revolutionary new car tire to the market with patent production. Because of the economic conditions what will Wesley most likely do
Answer:
B. Find a country where he can develop his tire idea and have it protected under strong patent laws.
Explanation:
Wesley is looking in a country that offers little protection for the business of bringing newer ideas to market. Due to the poor economic conditions of the nation, Wesley should try and look for another country that can support his ideas and provide him protection.Fixed expenses are $17,000 per month. The company is currently selling 800 units per month. The marketing manager would like to introduce sales commissions as an incentive for the sales staff. The marketing manager has proposed a commission of $5 per unit. In exchange, the sales staff would accept a decrease in their salaries of $6,000 per month. (This is the company's savings for the entire sales staff.) The marketing manager predicts that introducing this sales incentive would increase monthly sales by 200 units. What should be the overall effect on the company's monthly net operating income of this change?
Answer:
There is a cost-saving of $1,000 per month as a result of the change. This cost-saving increases the monthly net operating income by $1,000.
Explanation:
a) Data and Calculations:
Fixed monthly expenses = $17,000
Current sales units per month = 800
Proposed sales commission per unit = $5
Decrease in salaries per month = $6,000
Increase in sales units per month = 200
Change
Before After Difference
Fixed monthly expenses $17,000 $11,000 $6,000
Variable cost per month 0 5,000 -5,000
Total cost per month $17,000 $16,000 $1,000
Sales units per month 800 1,000 200 units
b) The effect on the company's monthly net operating income is a reduction in the total cost per month by $1,000. There is also an increase in the units sold per month by 200 units. If the selling price is determined, the net operating income will also increase by the product of the contribution margin per unit and 200.
How does unemployment impact a society
People living in a society judge a person very quickly If the person is unemployment society starts to judge and they start to dominate who is unemployment
To decrease unemployment we need to respect each work but the people living in a society starts to judge people and that's the great weakness of the people so if Unemployment is decreased in the country, than there would be positive impact
i hope i have give my answer according to my thoughts
Maverick law office currently orders ink refills 120 units at a time. The firm estimates that carrying cost is 40% of the $10 unit cost and that annual demand is about 480 units per year. The assumptions of the basic EOQ model are thought to apply. For what value of ordering cost would its current action (order quantity) be optimal
Answer:
Economic order quantity (EOQ)= 49 units
Explanation:
Giving the following information:
Demand= 480 units per year
Order cost= $10
Holding cost= 10*0.4= $4
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
Economic order quantity (EOQ)= √[(2*D*S)/H]
D= Demand in units
S= Order cost
H= Holding cost
Economic order quantity (EOQ)= √[(2*480*10) / 4]
Economic order quantity (EOQ)= √(2,400)
Economic order quantity (EOQ)= 49 units
Blade Breeze Company manufactures ceiling fans and uses an activity-based costing system. Each ceiling fan has 20 separate parts. The direct materials cost is $70, and each ceiling fan requires 2.50 hours of machine time to manufacture. Additional information is as follows:
Activity Allocation Base Predetermined Overhead Allocation Rate
Materials handling Number of parts $ 0.08
Machining Machine hours 7.20
Assembling Number of parts 0.35
Packaging Number of finished units 2.80
What is the cost of machining per ceiling fan? (Round any intermediate calculations and your final answer to the nearest cent.)
A) $18.00
B) $70.00
C) $144.00
D) $196.00
Answer:
Machining= $18
Explanation:
Giving the following information:
Each ceiling fan requires 2.50 hours of machine time to manufacture.
Machining Machine hours 7.20
To calculate the cost of machining per ceiling fan, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Machining= 2.5*7.2
Machining= $18
If money is your political voice, how loud is your voice? Who has the loudest voice?
Answer:
i....I honestly don't know I've tried online but it shows nothing sorry
The Campbell Company is considering adding a robotic paint sprayer to its production line. The sprayer's base price is $1,080,000, and it would cost another $19,000 to install it. The machine falls into the MACRS 3-year class (the applicable MACRS depreciation rates are 33.33%, 44.45%, 14.81%, and 7.41%), and it would be sold after 3 years for $626,000. The machine would require an increase in net working capital (inventory) of $18,500. The sprayer would not change revenues, but it is expected to save the firm $436,000 per year in before-tax operating costs, mainly labor. Campbell's marginal tax rate is 30%. Cash outflows, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answers to the nearest dollar.
What is the Year-0 net cash flow?
Answer:
$1,117,500
Explanation:
The net cash flow required immediately( year zero) to get the project underway comprises the sprayer's base price, its installation cost as well as the net working capital of $18,500.
The above-highlighted items are the ones cash outflows required in year zero while other ones are cash inflows or outflows required subsequently.
The net cash flow in year zero is computed thus:
Year-0 net cash flow=$1,080,000+$19,000+ $18,500
Year-0 net cash flow=$1,117,500
The ultimate goal of contract damages is: Multiple Choice Put the nonbreaching party where it was before the contract was formed. Return any costs incurred by the nonbreaching party. Put the nonbreaching party where it was prior to breach. Put the nonbreaching party in the best position possible. Give the nonbreaching party the benefit of its bargain.
Answer:
Give the nonbreaching party the benefit of its bargain.
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
There are different types of contract in business and these includes: fixed-price contract, cost-plus contract, bilateral contract, implies contract, unilateral contract, adhesion contract, unconscionable contract, option contract, express contract, executory contract, etc.
Mutual assent is a legal term which represents an agreement by both parties to a contract. When two parties to a contract both have an understanding of the parameters, terms and conditions surrounding a contract, it ultimately implies that they are in agreement; this is generally referred to as mutual assent.
In contract law, damages can be defined as an amount of money that is paid to a claimant (innocent party) as a compensation for a breach of contractual agreement and it's based on the amount of interest he or she has vested in the contract. Thus, it covers the incurred by the nonbreaching party (claimant or innocent party) due to a breach of contract by the other party.
Hence, the ultimate goal of contract damages is to give the nonbreaching party the benefit of its bargain.
Outsourcing is the: Group of answer choices use of computers to obtain value-creating data from the Internet. selling of a value-creating activity to other firms. spinning off of a value-creating activity to create a new firm. purchase of a value-creating activity from an external supplier.
Answer: purchase of a value-creating activity from an external supplier.
Explanation:
Outsourcing refers to the business practice whereby a company hires the service of another party for the creation of goods and the rendering of services which were done traditionally by the employees of the company.
Outsourcing is the purchase of a value-creating activity from an external supplier. It's usually done by.conoanues in order to reduce cost or focus on more important parts of producttion.
Lap Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in a particular department consisted of 80,000 units, 100% complete with respect to materials and 25% complete with respect to conversion costs. The total dollar value of this inventory was $226,000. During the month, 150,000 units were transferred out of the department. The costs per equivalent unit for the month were $2.00 for materials and $3.50 for conversion costs. The cost of the units completed and transferred out of the department was:
Answer:
Lap Corporation
The cost of the units completed and transferred out of the department was:
= $825,000.
Explanation:
a) Data and Calculations:
Beginning work in process inventory = 80,000 units
Degree of completion = 100% materials and 25% conversion
Cost of beginning work in process = $226,000
Units transferred out = 150,000
Materials Conversion Total
Costs per equivalent unit $2 $3.50
Cost of units transferred out $300,000 $525,000 $825,000
= (150,000 * $2) (150,000 * $3.50)
If Chester's current cash balance is $26,337 (000) and Cash Flows From Operations next period are unchanged from this period, which of the following activities will expose Chester to the most risk of needing an emergency loan?
a. Issues 10,000 shares of stock at the current stock price
b. Sells $10,000,000 of their Long-Term Assets
c. Purchases assets at a cost of $25,000,000
d. Retires $10,000,000 in Long-Term Debt
Answer:
The correct option is c. Purchases assets at a cost of $25,000,000.
Explanation:
An emergency loan can be described as a loan that can obtained on short notice by a borrower in to cover unexpected costs.
From the options, purchasing assets at a cost of $25,000,000 will leave Chester in a serious liquidity position as the it will take 94.92% [i.e. ($25,000,000 / $26,337,000) * 100] of its current cash balance and leave the company with just $1,337 current cash balance.
Because the next period's Cash Flows From Operations are expected to be the same as this period's, purchasing assets at a cost of $25,000,000 puts Chester at the greatest danger of needing an emergency loan.
Therefore, the correct option is c. Purchases assets at a cost of $25,000,000.
There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the following costs: Consumers' Willingness to Pay Shen: $35 Manuel: $50 Poornima: $40 Valerie: $25 Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45 Each firm has the capacity to produce only one haircut. For efficiency, should be given.
Answer:
a. 4 haircuts
b. $10
Explanation:
a. Calculation to determine For efficiency how many haircuts can be given?
Basd on the information given For efficiency only 4 haircuts can be given reason been that every of consumer are willing to pay in order to cover the producers costs.
b. Calculation to find out how large will be the total surplus
Total surplus =($35 Manuel+$50 Poornima+$40 Valerie+$25 Firms)-(25 Firm B+ $40 Firm C+$30 Firm D+ $45)
Total surplus =$150-$140
Total surplus =$10
ThereforeTotal surplus is $10
In a given year, if we sell 100 pounds of apples and 100 pounds of oranges, then the contribution to GDP from selling the oranges will be the same as the contribution to GDP from selling the apples.
a. True
b. False
Answer:
B
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Consumption spending includes spending by households on goods and services. Consumption spending includes :
spending on durables - e.g. laptop
spending on nondurables - e.g. clothes, food
spending on services - e.g. payment of hospital bill
the purchase of a textbook by a student is an example of consumption spending on durable goods
Investment - It includes purchases of goods and services made by businesses in the production of goods and services
Government spending - It includes government consumption expenditure and gross investment.
The GDP would differ because the prices of oranges and apples are different
For example, if the price of an apple is $4 and the price of an orange is $1.
The contribution of apples to GDP =$4 x 100 = $400
The contribution of oranges to GDP =$1 x 100 = $100
Acoma Co. has identified one of its cost pools to be quality control and has assigned $140,400 to that pool. Number of inspections has been chosen as the cost driver for this pool; Acoma performs 30,000 inspections annually. Suppose Acoma manufactures two products that consume 12,600 (Product 1) and 17,400 (Product 2) inspections each.
Assume that Acoma manufacturers only the two products mentioned and they consume 100 percent of the company’s quality inspections. Using activity proportions, determine how much quality control cost will be assigned to each of Acoma’s product lines.
Answer:
Acoma Co.
Product 1 Product 2
Quality control cost assigned $58,968 $81,432
Explanation:
a) Data and Calculations:
Cost of quality control = $140,400
Number of annual inspections = 30,000
Cost per inspection = $4.68 ($140,400/30,000)
Product 1 Product 2 Total
Number of inspections 12,600 17,400 30,000
Proportion of inspections 42% 58% 100%
Quality control cost assigned $58,968 $81,432 $140,400
($4.68 * 12,600) ($4.68 * 17,400)
(42% * $140,400) (52% * $140,400)
The following monthly data are available for Bonita Industries. which produces only one product: Selling price per unit, $42; Unit variable expenses, $14; Total fixed expenses, $42000; Actual sales for the month of June, 5000 units. How much is the margin of safety for the company for June
Answer:
70%
Explanation:
Margin of safety is the amount of sales a company makes in excess of the breakeven point
Margin of safety = (actual sales - break-even sales) / actual sales
Breakeven quantity are the number of units produced and sold at which net income is zero
Breakeven quantity = fixed cost / price – variable cost per unit /
$42000 / (42 -14) = 1500
(5000 - 1500) / 5000 = 70%
You have been tasked with advising the dictator of a nation over what he should do to increase the countries GDP. He suggests printing money and increasing the growth rate of the money supply. He wants to give this newly printed currency to his soldiers and best political supporters. You know this will not increase GDP in the long run because:
I. Money is neutral
II. Increasing the growth of the money supply only causes inflation in the long run
III. He would only increase GDP in the long run if he distributed the money equally to all citizens
IV. He would only increase GDP in the long run only if he printed a large enough sum of money
a. I and II only I
b. II, and III only
c. I, II, III, and IV
d. III only
Answer: a. I and II only
Explanation:
Money is neutral which means that even if you change to supply of money in an economy, it will not translate to an increase in GDP because only the nominal values of things will change (as a result of inflation) while the real values of things like GDP will remain the same.
Increasing the growth of money supply by printing money would also cause inflation in the long run because the money will lose its value like goods do when their supply is increased even though demand does not. A weaker currency needs more units to buy a good which is where the inflation will come from.
Bonita Industries uses flexible budgets. At normal capacity of 21000 units, budgeted manufacturing overhead is $168000 variable and $360000 fixed. If Bonita had actual overhead costs of $546000 for 26000 units produced, what is the difference between actual and budgeted costs
Answer:
$22,000 Favorable
Explanation:
The computation of the difference between actual and budgeted cost is given below:
Budgeted Variable Manufacturing Overhead Per Unit is
= $168,000 ÷ 21,000 units
= $8
The Fixed Overhead = $360,000
Now
For 26,000 Units, total Overhead Should be:
Variable = 26,000 × 8 = $208,000
Fixed = $360,000
Total = $568,000
And,
Actual Overhead Cost = $546,000
So,
Difference between Actual and Budgeted Cost is
= $568,000 - $546,000
= $22,000 Favorable
What is the plan of action used by management to identify how resources will be allocated, how the company will market in its competitive environment, and how the firm will attain its goals?
Answer: c. Strategy
Explanation:
Strategy refers to the means a person hopes to use in order to get something done. A company's strategy therefore will tell how the company will attempt to reach its goals.
It will tell the plan of action that the company will use and how resources will be allocated to satisfy the requirements of the plan. It will also tell how the company hopes to market its goods so as to gain an advantage in the market and generally everything else that the company needs to meets its goals.
At December 31, Hawke Company reports the following results for its calendar year.
Cash sales $1,432,910
Credit sales $3,376,000
In addition, its unadjusted trial balance includes the following items.
Accounts receivable $1,022,928 debit
Allowance for doubtful accounts $11,560 debit
Required:
Prepare the adjusting entry for this company to recognize bad debts
The adjusting entries for acknowledging the bad debts would be:
a). Bad Debts Expense $50 640
Allowance for Doubtful Accounts $50 640
b). Bad Debts Expense $48089.1
Allowance for Doubtful Accounts $48089.1
Bad debts:
Bad debts are described as debts that are unable to be recovered from their respective debtors.The key reasons for this could be:
The debtor is bankrupt and cannot pay the amount.The debtor flees away and thus, can't be compelled to pay.The given amounts are obtained as follows:
a). Given that,
Bad debts is 1.5% of credit sales.
Credit Sales = $3,376,000
Bad debts = 1.5% of $3,376,000
∵ Bad debts = 1.5/100 * $3,376,000
= $50 640
b). Given that,
Bad debts = 1 % of total sales.
Total Sales = Credit sale + Cash sale
= $3,376,000 + $1,432,910
= $4808910
Bad debts = 1% of 4808910
∵ Bad debts = 1/100 * $4808910
= $48089.1
Learn more about 'Journal entries' here:
brainly.com/question/17439126
There are hundreds if not thousands of wineries. Each winery tries to emphasize how their product is superior to others, though they are all close substitutes. Barriers to entry are low in this industry, and profits for new entrants are small. Which industrial model best fits the wine market
Answer: Monopolistic competition
Explanation:
Based on the information given in the question, the industrial model that best fits the wine market is a monopolistic competition.
Monopolistic competition refers to a form of imperfect competition whereby there are many producers that are competing against each other. They sell differentiated products, therefore the products are not perfect substitutes
In a monopolistic competition, the barriers to entry are low in this industry, and profits for new entrants are small. The firms in the industry possess some market power and therefore can charge a price that's higher price than a competitor. It should also be noted that a zero economic profit is earned in the long run.
As more units of an item are purchased, everything else equal, marginal satisfaction from consuming additional units will tend to Select one: a. decrease at the same rate for all consumers. b. decrease but at different rates for different people. c. increase at the same rate for all consumers. d. increase but at a decreasing rate for all consumers.
Answer:
b
Explanation:
Marginal satisfaction is the additional satisfaction received from consuming an additional unit of a good or service. It is the change in total satisfaction by increasing the quantity consumed by one unit
Marginal satisfaction usually declines as more units of the products is consumed
An example illustrating diminishing marginal satisfaction.
Imagine a traveller arriving from the desert where he hadn't had a drink of water in days .he is offered his first glass of water. the first cup of water he drinks would give him the highest utility. As more and more cups of water is drank, marginal utility decreases. At the point where he is fully satisfied, he stops drinking water and marginal utility becomes zero.
the decrease in marginal satisfaction of this traveller would be slower than the decrease in marginal satisfaction of a person working in an air conditioned office with easy assess to water
A cost is considered controllable at a given level of managerial responsibility if Group of answer choices it is a variable cost, but it is uncontrollable if it is a fixed cost. it changes in magnitude in a flexible budget. the cost has not exceeded the budget amount in the master budget. the manager has the power to incur the cost within a given time period.
Answer:
the manager has the power to incur the cost within a given time period.
Explanation:
A cost can be defined as an amount of money that is incurred by a business firm to create goods or services for its customers.
Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
In Financial accounting, a fixed cost can be defined as predetermined expenses in a business that remain constant for a specific period of time regardless of the quantity of production or level of outputs. Some examples of fixed costs in business are loan payments, employee salary, depreciation, rent, insurance, lease, utilities, etc.
On the other hand, variable costs can be defined as expenses that are not constant and as such usually change directly and are proportional to various changes in business activities. Some examples of variable costs are taxes, direct labor, sales commissions, raw materials, operational expenses, etc.
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, a cost is considered controllable at a given level of managerial responsibility, if the manager has the power to incur the cost within a given time period. Thus, he or she can control a cost if it can be incurred within a specific period of time.
Sheffield Corp. has old inventory on hand that cost $21000. Its scrap value is $30000. The inventory could be sold for $70000 if manufactured further at an additional cost of $21000. What should Sheffield do?
Answer:
Sell the inventory for $30000 scrap value
Explanation:
In the first place, if the old inventory is disposed of at $30,000 and cash inflow of $30,000 would be received
However, if manufactured by further by incurring an additional cost of $21,000,the incremental income is computed thus:
incremental income=sales value-scrap value-additional cost
Remember scrap value is a lost benefit if the inventory is processed further and not sold in its current state.
incremental income=$70,000-$30,000-$21000
incremental income=$19,000(less than cash flow when disposed of at scrap value, hence, the inventory should be sold at $30,000)
what is the different between consumer and customer?
Answer:
The customer is one who buys product produce while the consumer is one who takes benefit or uses the product.
The most recent financial statements for Xporter, Inc., are shown here:
Income Statement Balance Sheet
Sales $5,700 Current assets $ 3,900
Current liabilities $ 2,200 Costs 4,200
Fixed assets 8,100 Long-term debt 3,750
Taxable income $1,500 Equity 6,050
Taxes (34%) 510 Total $12,000 Total $12,000
Net income $ 990
Assets, costs, and current liabilities are proportional to sales. Long-term debt and equity are not. The company maintains a constant 40 percent dividend payout ratio. As with every other firm in its industry, next year’s sales are projected to increase by exactly 15 percent. What is the external financing needed?
Solution :
Expected sales = current sales x (1 + projected sale next year increase)
= 5,700 x (1 + 15%)
= $ 6555
Expected cost = current cost x (1 + projected sale next year increase)
= 4200 x (1 + 15%)
= $ 4830
Taxable income = 1500 x ( 1 + 15%)
= $ 1725
Taxes (34%) = 510 x (1+15%)
= $ 586.5
Net income = sales - cost - taxes
= 6555 - 4830 - 586.5
= $ 1138.5
Calculation of total asset :
Current asset = 3,900 x 1.15
= $ 4485
Fixed asset = 8100 x 1.15
= $ 9315
Total asset = 4485 + 9315
= $ 13800
Calculation of total liabilities
Current liabilities = 2200 x 1.15
= $ 2530
Long term debt = $ 3,750
Equity = $ 6050 + (1138.5 x 0.50 )
= $ 7189
Total liabilities = $ 2530 + $ 3,750 + $ 7189
= $ 13, 469
Therefore the external financial needed is = $ 13800 - $ 13, 469
= $ 331
StarZinc Company produced 200 defective units last month at a unit manufacturing cost of $50. The defective units were discovered before leaving the plant. StarZinc can sell them as is for $35 or can rework them at a cost of $40 and sell them at the regular price of $100. The total relevant cost of reworking the defective units is:______.
a. $7,800.
b. $5,000.
c. $8,500.
d. $9,100.
Answer:
See below
Explanation:
The cost of producing the defective units is irrelevant to the decision as to rework or to sell the defective units
Option 1
Rework
Sales revenue from sales (200 × $100) = $20,000
Relevant cost 40 × 200
$8,000
Net cash flow
$12,000
Option 2
Outright sale
Revenue from outright sales $35 × 200
$7,000
Starzinc should rework the defective units at it will produce a net cash flow of $12,000
At the end of the first year of operations, 21,500 units remained in the finished goods inventory. The unit manufacturing costs during the year were as follows:
Direct materials $30
Direct labor 18
Fixed factory overhead 22
Variable factory overhead 14
Required:
Determine the cost of the finished goods inventory reported on the balance sheet under (a) the absorption costing concept and (b) the variable costing concept.
Answer and Explanation:
The computation of the cost of the finished goods inventory reported is as follows:
Absorption costing is
= ($30 + $18 + $22 + $14) × 21,500 units
= $1,806,000
And,
Variable costing is
= ($30 + $18 + 14) × 21,500
= $1,333,000
In this way the cost of the finished goods inventory should be determined
When Joe maximizes utility, he finds that his MRS of X for Y is greater than Px/Py. It is most likely that: Group of answer choices Joe is not consuming good X. Joe's preferences are incomplete. Joe's preferences are irrational. Joe is not consuming good Y.
2 Income statement data for Starr Canning Corporation are as follows: 2009 2008 Sales $1,400,000 $1,200,000 Cost of goods sold 850,000 730,000 Selling expenses 205,000 240,000 General expenses 140,000 100,000 Income tax expense 82,000 50,000 Required a. Prepare an income statement in comparative form, stating each item for both years as a percent of sales (vertical common-size analysis)
Answer and Explanation:
The preparation of the income statement in comparative form is presented in the attachment below
The vertical analysis refers to analysis made to the financial statements. In the balance sheet, the item with respect to the common base for the other items should be expressed in total assets while for the income statement it should be total revenues
Since we have to make the income statement so the same should be expressed in total revenues
:
