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marysya [2.9K]
2 years ago
7

An artist buys scrap metal from a local steel mill as a raw material for her sculptures. Last​ year, she purchased $7,000 worth

of scrap metal. With the steel she produced 10 authentic sculptures that she sold for $1,000 each to a local art dealer. The art dealer then sold all of the sculptures to art collectors for an average of​$1,200 each.
The total value added of the art dealerart dealer is $__. ​(Enter your response as an​ integer.)
Business
1 answer:
Lyrx [107]2 years ago
8 0

Answer:

$2000

Explanation:

The total value added by the art dealer would equal the amount of profit that the art dealer made off of the sale of all the sculptures created by the artist. Therefore to calculate this we must subtract the amount that the artist sold each sculpture for ($1000) from the amount that the art dealer sold each sculpture for ($1200) and then multiply the remainder by the amount of sculptures (10) like so:

$1200 - $1000 = $200

$200 * 10 = $2000

Therefore the total added value of the art was $2000.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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If the substitution effect of the real interest rate on saving is larger than the income effect of the real interest rate on sav
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Answer:

rise, fall

Explanation:

In the case when the subsitution effect with respect to the real rate of interest should be saved and more than the income effect on the real rate of interest so if there is an increased in the real rate of interest so there is an increase in the consumption also there is the fall in the savings

Also, if there is a more income effect, the consumption should rise and the savings would decline

Therefore the rise and fall should be considered to fill the blanks

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2 years ago
There were 14,058 million shares of this preferred stock outstanding throughout the year. determine the total dividends that ban
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<span>Bank of America, with 14,058 million common shares outstanding in 2015, and with dividends of $0.05 paid 4 times per share in 2015, the dividends paid overall in 2015 was $2,812 million.</span>
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2 years ago
Accountants do not speak in terms of increases and decreases. Rather, they use technical terminology. Thus, to __________ an acc
aksik [14]

Answer:

The first gap is for Debit

The second gap is for credit

Explanation:

In accounting, Debit side(Dr) is always on the left side and credit side(Cr) is always on the right side.

The table is usually like 'T'

Debit side increases asset and expenses while credit decreases assets and expenses.

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4 0
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Acadia, Inc. recorded restructuring charges of $235,542 thousand during fiscal 2017 related entirely to anticipated employee sep
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A. $205,899 thousand

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cash flow effect = restructuring charges - the company’s balance sheet included a restructuring accrual

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4 0
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Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the
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Answer:

total equivalent units for materials = 6,310

Explanation:

700 units in beginning work in process:

  • materials: 70% complete, $8,700, completed 490 equivalent units, not completed 210 units
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units started in to production 6,400

units transferred out 5,600

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conversion costs added $269,600

equivalent units for materials:

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2 years ago
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