The following information is available for the manufacturing operations of Argon Ltd. for the month of January:
Direct materials purchased
$40,000
Direct labour cost
$20,000
Direct labour hours
1,000
Factory overhead rate per direct labour hour
$12
Opening inventory January 1
Ending inventory January 31
Direct materials
$25,000
$20,000
WIP
$15,000
$10,000
Finished goods
$45,000
$40,000
a) What is the Cost Of Goods Manufactured?
b) What is the Cost Of Goods Sold?
Answers
a) Cost of goods manufactured (COGM) is a calculation used to determine the manufacturing expenses linked with producing goods that are ready for sale.
COGM is calculated by taking the sum of total manufacturing costs and adding it to the beginning inventory balance, then subtracting the ending inventory balance. The calculation of COGM is as follows:
Beginning WIP inventory + Manufacturing costs incurred - Ending WIP inventory = Cost of goods manufactured.
Calculation of COGM:$15,000 + $52,000 - $10,000 = $57,000
Therefore, the Cost of Goods Manufactured is $57,000.
b) Cost of goods sold (COGS) is a company's cost of producing and delivering a product to the point of sale, including all expenses directly incurred from the product's sale, such as overhead, materials, and labor. COGS is the expense of creating a product or providing a service sold to a customer. The calculation of COGS is as follows:
Beginning finished goods inventory + Cost of goods manufactured - Ending finished goods inventory = Cost of goods sold.
Calculation of COGS:$45,000 + $57,000 - $40,000 = $62,000
Therefore, the Cost of Goods Sold is $62,000
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Related Questions
What days are BIM classes held?
Answers
Classes take place on Mondays and Wednesdays from 4:00-6:00 pm EST, at The Plan Room located at 1815 W Broadway.
Have a Nice Day.
the original cost of the asset less the accumulated depreciation is the
Answers
Answer:
Book value
Explanation:
The Net Cost is the derived after the accumulated depreciation is deducted from original cost of the asset.
The Net cost is what is been derived after taking into account depreciation on the assets.
In other word, the Net cost refers to the gross cost of an object which is reduced by any expenses incurred from owning the object.
The Net cost will be derived after the gross cost of an office equipment minus the its salvage value.
Therefore, the Net Cost is the derived after the accumulated depreciation is deducted from original cost of the asset.
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A well known bank stores enough money during the weekends to satisfy its customers needs. The expected average withdrawal during the weekend is $550 with a standard deviation of $70. When they looked at a sample of the last 36 weekend transactions, they found the average withdrawal to be $600. At α=0.05, is there evidence that the mean withdrawal has increased during weekends? (Z0.05=1.645, Z0.025=1.96)
Answers
Answer:
The mean withdraw has increased during weekend.
Explanation:
Assume that the withdraw amounts are normal distributed. To test whether the mean withdrawal has increased during weekends, we take a z-test. The z-test is possible because the observed sample (weekend transactions) is greater than 30.
The null hypothesis (\(H_{0}\)) is when the mean withdrawal is greater than 550. The alternative hypothesis (\(H_{A}\)) is when the mean withdrawal is equal to 550 or smaller. At an alpha of 0.05% is selected with a two-tailed test, , there is 0.025% of the samples in each tail, and the alpha has a critical value of 1.96 or -1.96. If the z-value is greater than 1.96 or less than -1.96, the null hypothesis is rejected.
z-value = (600-550) / 70 / 36^(1/2) = 0.1190
At α=0.05, the z-value < 1.96 and > -1.96, the null hypothesis is not rejected. Therefore, the mean withdraw has increased during weekend.
please help me with this match the column if i get perfect answer then i will give brainliest
Answers
Answer:
what do you need help on
Explanation:
Sam is getting his bachelor's degree. During some of his course work, he honed his research skills and learned to exhibit confidence while presenting to an audience. Which career has Sam most likely been preparing for?
Printing Technology
Telecommunications
Performing Arts
Journalism
Answers
Answer:
Journalism
Explanation:
Answer:
journalism
Explanation:
A project has fixed costs of $3,500 per year, depreciation charges of $500 a year, annual revenue of $27,000, and variable costs equal to two-thirds of revenues. a. If sales increase by 17%, what will be the percentage increase in pretax profits? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Answer is complete and correct. Pretax profit increase 30.60 % b. What is the degree of operating leverage of this project? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Degree of operating leverage
Answers
The degree of operating leverage for this project is 1.80
To calculate the percentage increase in pretax profits, we first need to determine the current pretax profit.
Given:
Fixed costs = $3,500 per year
Depreciation charges = $500 per year
Annual revenue = $27,000
Variable costs = (2/3) * revenue
Variable costs = (2/3) * $27,000 = $18,000
Total costs = Fixed costs + Depreciation charges + Variable costs
Total costs = $3,500 + $500 + $18,000 = $22,000
Pretax profit = Revenue - Total costs
Pretax profit = $27,000 - $22,000 = $5,000
Now, let's calculate the new pretax profit after a 17% increase in sales:
New revenue = $27,000 + 17% * $27,000
New revenue = $27,000 + 0.17 * $27,000
New revenue = $27,000 + $4,590 = $31,590
New variable costs = (2/3) * New revenue
New variable costs = (2/3) * $31,590 = $21,060
New total costs = Fixed costs + Depreciation charges + New variable costs
New total costs = $3,500 + $500 + $21,060 = $25,060
New pretax profit = New revenue - New total costs
New pretax profit = $31,590 - $25,060 = $6,530
Now, we can calculate the percentage increase in pretax profits:
Profit increase = (New pretax profit - Pretax profit) / Pretax profit * 100
Profit increase = ($6,530 - $5,000) / $5,000 * 100
Profit increase = $1,530 / $5,000 * 100
Profit increase = 30.60%
Therefore, the percentage increase in pretax profits is 30.60%.
To calculate the degree of operating leverage, we can use the formula:
Degree of Operating Leverage = Contribution Margin / Pretax Profit
Contribution Margin = Revenue - Variable Costs
Contribution Margin = $27,000 - $18,000 = $9,000
Degree of Operating Leverage = $9,000 / $5,000
Degree of Operating Leverage = 1.80
Therefore, the degree of operating leverage for this project is 1.80 (rounded to 2 decimal places).
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QUESTION 8 of 10: In a percentage lease, the landlord receives a
a) Assets
b) Expenses
c) Accounts payable
O d) Revenue
Submit
Answers
Answer:
d)revenue
Explanation:
the landlord receives a percentage of revenue earned from any business in addition to the base rent.
In a percentage lease, the landlord receives a revenue. Option d is correct.
What is percentage lease?A percentage lease is defined as one in which the tenant pays a base rent plus a percentage of any money generated while operating a company on the rental property.
A percentage lease pays the landlord a percentage of any business's revenue in addition to the base rent.
In comparison to a standard lease, the base rent is usually lower. The lower base rent is balanced out by the higher upside potential of a percentage lease.
Therefore, option d is correct.
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the prisoners' dilemma provides insights into the a. benefits of government ownership of monopoly. b. difficulty of maintaining cooperation. c. benefits of avoiding cooperation. d. ease with which oligopoly firms maintain high prices
Answers
The prisoners' dilemma provides insights into the difficulty of maintaining cooperation.
The prisoner's dilemma is a scenario in which two parties that are cut off from one another and unable to communicate must decide whether or not to cooperate. When both sides decide to work together, everyone benefits the most.
According to game theory, a scenario known as a prisoner's dilemma occurs when two selfish players are forced to make a decision that is not in their best interests. The prisoner's dilemma also demonstrates that simple collaboration is not always advantageous.
In the scientific literature, The Prisoner's Dilemma (PD) is one of the most well-known ideas. By offering participants the option to defect or cooperate in a particular social environment or issue, the task is used to explore various sorts of social interactions.
Hence the correct option is B
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What two factors influence an economic school of thought?(1 point)
Answers
Answer:
Free-market, or laissez-faire, economics and Keynesian theory.
Explanation:
The economic school of thought can largely be influenced by prevailing societal values and the historical context in which the theory is developed.
There are many factors that might influence an economic school of thought, but the two key elements are often prevailing societal values and historical context. Prevailing societal values can drastically influence an economic philosophy.
Furthermore, the historical context in which an economic thought emerges is crucial. Economists develop their theories in response to the economic challenges and realities of their time. The Great Depression deeply influenced Keynesian economics, and the stagflation of the 1970s prompted a shift towards monetarism.
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Help plz , needs to be turned in
Answers
Answer:that should be based on your class and teacher try checking your syllabus
Explanation:
Why is it important to track your expenses? What would happen if you didn't monitor your bank account on a regular basis?
Answers
tracking your expenses and monitoring your bank account on a regular basis is an important part of managing your finances and staying in control of your money.
Tracking your expenses is important for several reasons. First, it allows you to have a clear understanding of where your money is going and helps you to identify areas where you may be overspending or could potentially save money. This knowledge can be invaluable when creating a budget and making financial decisions.Second, tracking your expenses helps you to stay on top of your financial obligations, such as bills and debt payments, and avoid late fees or penalties that can negatively impact your credit score.
Third, monitoring your expenses can help you identify potential fraudulent charges or errors on your bank account or credit card statements, which can save you money and protect you from identity theft.If you don't monitor your bank account on a regular basis, you run the risk of missing important information about your finances. For example, you may not notice a fraudulent charge until weeks or months later, which can make it more difficult to resolve the issue and may result in financial losses. Similarly, if you forget to make a payment or don't realize that you've overspent, you may incur late fees or interest charges that can add up over time.
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Creating an online website what are good ideas to help me brainstorm
Answers
A few ideas for the website are:
An easy-to-update CMSResponsive designHelpful navigationStrong brand identityContact informationSecurity featuresWhat is a small file deposited on a hard drive by a website containing information about customers?
Answers
A small file deposited on a hard drive by a website containing information about customers and their web activities is called cookies.
Cookies allow websites to record the comings and goings of customers, usually without their knowledge or consent. It is a small text file that a website can place on your computer's hard drive in order to collect information about your activities on the site.
Cookies improve your browsing experience by allowing sites in order to remember your preferences or by letting you avoid signing in each time when you visit certain websites.
Hence, cookies are small pieces of text sent to your browser by a website you visit.
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the negative impact of the coronavirus on businesses
Answers
Answer:
UNEMPLOYMENT..
main cause..
The ability of banks to create money has its source in which of the following A. the 100 percent reserve requirement B. fractional-reserve banking (i.e. less than 100 percent reserve requirement) C. the ability of the government to mint as much currency as it wishes D. the banks' ability to issue currency (bank notes) of their own
Answers
The ability of banks to create money has its source in fractional-reserve banking. The right answer is B.
A small amount of bank deposits must be available for withdrawal in a system referred to as fractional reserve banking. The ability of banks to hold some deposits in reserves and use the remaining deposits to make loans is what allows for money creation in a fractional reserve banking system. Banks only need to have a particular sum of cash on hand in order to offer loans with the money people deposit.
Fractional reserves enable lending, which stimulates economic growth. Most economies nowadays employ fractional reserve banking in their financial systems. As there is always a possibility that withdrawals could surpass the amount of reserves on hand, banks with low fractional reserves are more susceptible to bank runs.
The correct answer is option B.
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According to the video, some workers who work for themselves, such as Actors, Musicians, or Writers, may have what
sort of worker represent them to potential customers?
O an Agent
O a Headhunter
an Employer
a Mentor
Answers
Answer:
an Agent
Explanation:
just answered it and got correct
Answer: Agent
Explanation: just got it right on edge
Explain how a change in banking policy may impact a life decision that you will one day, or maybe have in the past, come across. This can include, among other decisions, a major purchase, a decision regarding schooling, or a decision to start a business.
Answers
Banks act as intermediaries between those with excess funds and those in need of funds. Banks offer low-interest loans to a huge number of customers. They also help the sector by offering low-interest loans to industrialists.
Banks are the economic backbone of the country. Banks act as a go-between for people who have extra cash and others who don't. They pay interest to depositors and charge interest to individuals who take out bank loans. The bank's major source of income is the difference between interest rates. Banks collect private savings and lend them to entrepreneurs and manufacturers. Bank loans facilitate trade.
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Describe the "four functions of money". What is a Double Coincidence of Wants and why does that make barter a less desirable system of obtaining goods and services?
Answers
The four functions of money are medium of exchange, unit of account, store of value, and standard of deferred payment. Double Coincidence of Wants refers to the requirement of finding someone who has what you want and wants what you have in a barter system, which makes it less desirable for obtaining goods and services.
The four functions of money are essential aspects that describe the role and purpose of money in an economy. Firstly, money serves as a medium of exchange, facilitating transactions by acting as a universally accepted intermediary. Instead of relying on direct barter, where goods are exchanged for goods, money allows individuals to trade goods and services more easily.
Secondly, money acts as a unit of account, providing a common measure for the value of goods and services. It enables individuals to assign numerical values and compare the worth of different items or transactions. This function allows for efficient pricing, record-keeping, and financial calculations.
Additionally, money functions as a store of value, enabling individuals to save and preserve their wealth over time. Unlike perishable or non-durable goods, money retains its value and can be held for future use or investment. Money's stability as a store of value allows individuals to accumulate wealth and make plans for the future.
Lastly, money serves as a standard of deferred payment, allowing for the settlement of debts and obligations over time. It provides a mechanism for individuals to make purchases on credit, borrow, lend, or engage in financial contracts. By accepting money as a means of payment, parties can defer the fulfillment of transactions and establish future payment obligations.
Double Coincidence of Wants refers to the requirement of finding two parties in a barter system who have what each other wants. In a barter economy, individuals would need to find someone who has the exact goods or services they desire and is simultaneously interested in acquiring what they have to offer. This can be challenging and time-consuming, leading to transactional inefficiencies. Money eliminates the need for this double coincidence of wants, as it serves as a universally accepted medium of exchange, enabling individuals to acquire goods and services more easily and efficiently.
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100 points please help. let’s say eur/usd is trading at=1.1872. So if I have a forex account worth 100$ and I use a leverage of 1:100 I have 10000$ of buying power so if buy a mini lot of eur/usd. Do I only need to pay 10k or the quote price which would be 11872$ that I need to pay?
Answers
Answer:
With 100:1 leverage a trader can open a position 100 times greater than they could without leverage. For example, if the cost to purchase . 01 lots of EUR/USD is normally $1000 and the broker offers 100:1 leverage, then the trader must put up only $10 as margin.
Explanation:
The Apple iphone was a new product (innovation) which enjoyed very quick success (rapid diffusion) in the marketplace. For this discussion (Discussion 3), you are to explain why this new product was successful so rapidly. You are to justify your explanation by discussing which of the Diffusion Factors (described in Chapter 7) allowed for the iphone's rapid diffusion. Note some terms - New products = innovations and the dispersion of innovations = to the distribution and spread of the new products into the marketplace (obviously dispersion requires marketplace acceptance of the new products).
As stated earlier, the latter part of Chapter 7 discusses 10 (ten) factors that impact the rate (speed) of new product (innovation) diffusion (distribution). Examples of these 10 factors are:
(1) the type of product being dispursed (e.g., is the product involving to consumers, is it a homogeneous product, etc.).
(2) the consumer market segment characteristics (e.g., young, education, affluent consumers or not).
(3) the marketing effort (resources put into marketing communications and other promotional activities).
(4) whether the product fulfills a felt need in the marketplace (e.g., is it easy for consumers to see that the product provides benefits that address a strongly felt need).
(5) whether the product is compatable with other products and consumer lifestyles.
(6) the perceived risks of the innovation (new product).
etc.
Answers
The rapid diffusion of the iPhone can be attributed to factors such as its innovative product design, fulfillment of marketplace needs, compatibility with consumer lifestyles, and effective risk management strategies.
The rapid success of the Apple iPhone can be attributed to several diffusion factors that facilitated its quick adoption and acceptance in the marketplace. One key factor is the type of product being dispersed. The iPhone introduced a revolutionary combination of a smartphone, music player, and internet device, appealing to a wide range of consumers. Its innovative features and sleek design made it highly desirable, driving its rapid diffusion.
Another factor is the marketing effort invested by Apple. The company implemented a comprehensive and aggressive marketing strategy, utilizing effective marketing communications and promotional activities. This created widespread awareness and generated excitement around the iPhone, accelerating its adoption.
The iPhone also fulfilled a felt need in the marketplace. It provided a convenient and user-friendly solution for communication, internet access, and multimedia consumption. Consumers quickly recognized the benefits it offered, addressing their need for a compact and versatile device, which contributed to its rapid diffusion.
Additionally, the iPhone's compatibility with other products and consumer lifestyles played a significant role. It seamlessly integrated with iTunes, allowing users to easily sync and manage their media content. Its app ecosystem further enhanced its compatibility, offering a wide range of applications that catered to various consumer interests and needs.
While perceived risks are an important factor, the iPhone managed to mitigate them effectively through its reputation for quality, user-friendly interface, and Apple's strong brand image. This reduced the barriers to adoption and accelerated the diffusion of the product.
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Under what circumstance would a country have a comparative advantage in
the production of a certain good?
A. It has a lower opportunity cost for production of that good.
B. It has a more highly skilled work force.
C. It has well-developed industrial capacities.
D. It uses an assembly line to produce that good.
Ap3x
Answers
Answer: [A] It has a lower opportunity cost for production of that good.
Explanation: It has a lower opportunity cost for production of that good. Comparative advantage comes when a country gives up less than others to engage in a particular type of production.
Answer:
It has a lower opportunity cost for production of that good.
Explanation:
Which type of chart or graph shows data with distinct x and y values?
O a bar graph
O a scatter plot
O a line chart
O a pie chart
Answers
Answer:
A. a bar graph is the answer
5. Determine the working practices in traditional,
iterative and Agile
developments that offer the greatest impact
Answers
Agile development offers the greatest impact by promoting collaboration, adaptability, and continuous improvement. It involves cross-functional teams, iterative and incremental development, and continuous feedback, leading to faster response to changes, higher customer satisfaction, and improved product quality.
Traditional Development:
Sequential Approach: Traditional development follows a sequential approach where each phase (requirements gathering, design, development, testing, deployment) is completed before moving to the next. This provides structure and clarity to the development process.Detailed Planning: Traditional development emphasizes extensive upfront planning, including defining requirements and creating comprehensive project plans. This helps in identifying potential risks and estimating project timelines and resources.Formal Documentation: Traditional development relies on extensive documentation, including requirements documents, design specifications, and test plans. This ensures clear communication and provides a reference for future maintenance and enhancements.Iterative Development:
Incremental Approach: Iterative development breaks the project into smaller increments or iterations. Each iteration includes analysis, design, development, and testing. This allows for continuous feedback and refinement throughout the development process.Prototyping: Iterative development often involves creating prototypes to gather user feedback and validate requirements. This helps in refining the final product based on iterative user feedback.Feedback and Adaptability: Iterative development encourages frequent feedback from stakeholders and end-users. This feedback is used to make necessary adjustments, address issues, and incorporate changes in subsequent iterations.Agile Development:
Cross-functional Teams: Agile development emphasizes collaborative and cross-functional teams, including developers, testers, and stakeholders. This enables continuous communication, shared ownership, and faster decision-making.Iterative and Incremental Development: Agile follows an iterative and incremental approach with short development cycles called sprints. Each sprint delivers a potentially shippable product increment, allowing for flexibility and adaptability to changing requirements.Continuous Feedback and Improvement: Agile development promotes continuous feedback through techniques like daily stand-up meetings, frequent demonstrations, and retrospectives. This helps in identifying areas for improvement and adjusting the development process accordingly.Among these approaches, Agile development often offers the greatest impact due to its emphasis on collaboration, adaptability, and continuous improvement. By involving cross-functional teams, enabling iterative and incremental development, and fostering continuous feedback, Agile allows for quicker response to changes, higher customer satisfaction, and improved overall product quality.
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A credit union
Question 3 options:
is larger than most banks
promotes good spending habits among its members
will allow anyone to join
provides financial service at a higher cost than a bank
Answers
Answer: A credit union promotes good spending habits among its members.
Express the elements in pointwise which are required in employment notice
Answers
It's too short. Write at least 20 characters to explain it well.
which of the following is a disadvantage of being a first-mover in the market? a. large outlays associated with creating a new product b. inability to accurately predict performance standards c. the chances that products will be protected by patents d. high switching costs consumers may experience e. costs of marketing plan implementation
Answers
The one that is a disadvantage of being a first-mover in the market is option A. large outlays associated with creating a new product
Who is a first-mover in the market?A first-mover in the market is a company that is the first to introduce a new product, service, or technology to the market. They often have the advantage of being the first to establish a customer base, create brand recognition, and gain market share.
Therefore, the correct answer is as given above. It could be concluded that a disadvantage of being a first-mover in the market is large outlays associated with creating a new product
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Question 2(Multiple Choice Worth 5 points)
(02.06 MC)
In general, what kind of people earn the most money?
O People with skills that are in high demand and high in supply
O People with skills that are in high demand but low in supply
O People with skills that are in low demand and low in supply
People with skills that are in low demand but high in supply
Answers
They earn the most money since skills also follow the law of supply and demand, so consumers are willing to pay more due to low supply
Over a particular period, an asset had an average return of 10.5 percent and a standard deviation of 19.1 percent. what range of returns would you expect to see 68 percent of the time for this asset?
Answers
To determine the range of returns that we would expect to see 68 percent of the time for the given asset, we need to use the concept of the standard deviation. A standard deviation of 19.1 percent tells us how much the returns of the asset have varied from the average return of 10.5 percent over the particular period.
To find the range of returns that we would expect to see 68 percent of the time, we use the empirical rule. This rule states that for a normal distribution, approximately 68 percent of the data falls within one standard deviation of the mean. Therefore, we can expect that returns for the given asset will fall within one standard deviation of the average return of 10.5 percent.
To calculate this range, we can add and subtract the standard deviation from the average return. So, the range of returns that we would expect to see 68 percent of the time for this asset is:
10.5% +/- 19.1% = -8.6% to 29.6%
This means that approximately 68 percent of the returns for the given asset should fall within the range of -8.6 percent to 29.6 percent. However, it's important to note that this is just an estimate, and the actual returns could be higher or lower than this range.
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If you wanted to compare economic well-being over time and across countries, the data you would use is: Group of answer choices per capita GDP inflation real per capita GDP real GDP
Answers
Answer:
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation. It's used to compare the standard of living between countries and over time.
if a trucking company were operating at capacity, but had an opportunity to fill a one-time high volume special order, which of the following ramifications could occur? select one: a. lost revenues from regular customers b. long-term revenue loss from customers who change service to competitors c. questions from regular customers about commitment to service d. all of the above
Answers
If a trucking company were operating at capacity but had an opportunity to fill a one-time high-volume special order
lost revenues from regular customerslong-term revenue loss from customers who change service to competitors questions from regular customers about commitment to serviceOption D.
What is a high-volume special order?Generally, When a consumer wishes to buy a product that is not in stock at the time, a special order transaction is normally carried out.
For any number of reasons, the item might be unavailable or out of stock. Any merchandisable item in the store's inventory is eligible to be a special order item.
If a trucking firm was at capacity but had the chance to fulfill a one-time, large-volume special order, it may lose out on income from recurring clients.
long-term income loss from clients switching to rivals' services; concerns from loyal customers regarding service commitment;
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