Answer:
Explanation:
worker's production rate = 60/3 = 20units per hour
monthly capacity 160 x 20 = 3200 units.
capacity needed to produce 2000000 units
= 2000000/3200
= 625
therefore, since they already have 500 workers, they need to hire 125 more workers.
b) At the end of October they will have 2 million inventory.
c) Average inventory in each of the months has been listed in the attachment below.
Answer:
True
Explanation:
Using FIFO,
Under First in First out method, items that were purchased first will be availed for sale first. In this case, the opening stock of 5 at $10 items will be sold first. An additional 7 units will be required from the next batch of purchases at $11.
The costs of the first 12 units will be
=(5 x 10)+ (7 x 11)
=50 +77
=$127
With LIFO, the items acquired last will be sold first. In this case, the 12 items sold will come the batch of 15 purchased at $11 in the months
Using LIFO, the cost of goods available for sale.
=12 X $11
=132
The difference is the costs of goods available for sale is $ 5, with FIFO having a lower cost. It means FIFO profits will be $5 more.
Answer: $250
Explanation:
From the question, we are told that Elmo Johnson was late on his property tax payment to the county and that he owed $7,500 and paid the tax four months late.
We are further told that the county charges an annual penalty of 10%. The amount of the penalty for the four-month period goes thus:
Annual penalty = 10% × $7500
= 0.1 × $7500
= $750
Since he is four months late and there are twelve months in a year, this will be:
= $750 × 4/12
= $750 × 1/3
= $750/3
= $250
Answer:
B. Manufacturing overhead was overapplied by $20,000; Cost of goods sold after closing the manufacturing overhead account is $431,000.
Explanation:
Manufacturing overhead refers to the factors or conditions that keeps a facotry running. These include electricity, deprecaition on factory, etc.
In the case of the queetion above, the manufacturing overhead has been over applied by $20,000 (i.e: $73,000 - $53,000). This over application of the manufacturing overhead has also affected the cost of goods sold after closing out the manufacturing overhead account
Since the overapplied amount is $20,000, we deduct the overapplied amount from the cost of sales ($471,000) to get the actual costs of goods sold after closing out the manufacturing overhead account.
We then have ($451,000 - $20,000) = $431,000.
Therefore, the cost of goods sold after closing the manufacturing overhead account is $431,000.
Cheers.
Answer:
The new equilibrium will have a lower level of price and the GDP will be $9 trillion
Explanation:
The law of the demand explain the movements of the aggregate demand, the new equilibriun will have a lower level of price and the real GPD of $9 trillion. The change in the level of price depends on elasticities of the agregate demand and the agragate supply.
