Answer:
$2,400
Explanation:
Total production Cost:
= Direct materials and direct labor + Indirect materials and indirect labor + Insurance on manufacturing equipment
= $7,000 + $2,000 + $3000
= $12,000
Amount should be reported as inventory in the company’s year-end balance sheet:
= (Total production Cost ÷ Units manufactured) × (Units manufactured - Units sold)
= ($12,000 ÷ 1,000) × (1,000 - 800)
= $12 × 200
= $2,400
Answer:
$115,000
Explanation:
Data provided as per the question is below:-
Beginning balance = $81,000
Direct material issued = $27,000
Direct labor incurred = $7,000
The computation balance Process Inventory is shown below:-
Balance in the Work-in-Process Inventory = Beginning balance + Direct material issued + Direct labor incurred
= $81,000 + $27,000 + $7,000
= $115,000
Eli has created $1,000 of gross domestic
product. This can be calculated by using the formula of GDP using the income
approach.
GDP = Net Income + Indirect Business
Taxes + Depreciation
In this problem, we can only compute the
Net Income, therefore it would eventually equal to GDP.
To compute the Net Income, you need to
subtract all the expenses from the revenue which is $3,500.
<span>$3,500 - $1,200 - $800 - $500 = $1,000</span>
In this case, Kellogg's would be in the GROWTH stage of the product life cycle. They are gaining market share and sales are increasing.
