The amount of interest capitalized for 2021 is $ 112,000.
If the question clarity is as in the explanation below.
Let's assume that $500,000 on January 1 equals $500,000 in spending.
and March 1600 means that the spending for March 1 is $ 600,000.
& July 31480,000 indicates that the spending for July 31 is $ 480,000.
& September 30600,000 denotes a $ 600,000 expenditure on September 30. December 31.
300,000 meaning the expense as of December 31 is $ 300,000.
Then use the IAS 23 borrowing cost principle for single funding with periodic withdrawal to get the cost capitalised;
Five hundred thousand dollars were drawn down on January 1.
(8% times $500,00x12/12) Equals $40,00 in borrowing costs
Six hundred thousand dollars were taken out on March 1.
(8% × 600,000 X 11/12) = $44,000 in borrowing costs
Four hundred eighty thousand dollars were taken out on July 31.
(8% x 480,00 X 5/12) = $16,000 in borrowing costs
Six hundred thousand dollars were taken in on September 30.
(8% x 600,000 X 3/12) = $12,000 in borrowing costs
Dec. 1 brought in $300,000.
(8% x 300,000 X 0/12) Equals $0 in borrowing costs
$112,000 will be the total capitalised interest in 2021.
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Upscale retailers, such as Saks Fifth Avenue, feature customer service as their significant point of difference and use that difference to
compete with less expensive stores. This is known as
Multiple Choice
target costing.
nonprice competition.
upscale marketing.
exclusive distribution
Given that the upscale retailers are more concerned with the customer service as the way of competition, this is regarded as exclusive distribution
What is exclusive distribution?
The term exclusive distribution can be defined as the level of product that can be said to be available that has the power of being able to limit the outlets that the consumers of a product would have.
This is what would make it able for them to be able to find the product that they need. This is also going to help to preserve the product as well as help in the preservation of the image of the brand.
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If the cost of an item of inventory is $60 and the current replacement cost is $75, the amount included in inventory according to the lower of cost or market is.
The lower of cost or market (LCM) rule states that a corporation must record the cost of inventory at the lower of the original cost and the current market price.
How do you calculate lower of cost or market value?Inventory Valuation at the Lower of Cost or Market (LCM)Find out the inventory's previous purchase cost first.Next, figure out the replacement cost of the inventory.Comparing net realizable value to replacement cost and net realizable value less a typical profit marginInventory costs should be compared to replacement costs. A business must record the cost of inventory at whatever cost is lower—the original cost or its current market price—according to the lower of cost or market rule.This problem often occurs when inventory deteriorates, becomes outdated, or when market prices fall. According to the lower of cost or market (LCM) technique, a company's inventory is valued and recorded on the balance sheet at the lower of its historical cost or its market value.The price at which the inventory was purchased is referred to as the historical cost.This problem often occurs when inventory deteriorates, becomes outdated, or when market prices fall. A good's worth might change over time. The amount included in the inventory will be $60.00 as the cost of a single item of inventory is $60.00 and the current market price, which is the replacement cost, is $75.00.To learn more about lower of cost or market refer
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murphy incorporated, which produces a single product, has provided the following data for its most recent month of operation: number of units produced 14,900 variable costs per unit: direct materials $ 151 direct labor $ 72 variable manufacturing overhead $ 8 variable selling and administrative expenses $ 12 fixed costs: fixed manufacturing overhead $ 923,800 fixed selling and administrative expenses $ 357,600 the company had no beginning or ending inventories. required: a. compute the unit product cost under absorption costing. b. compute the unit product cost under variable costing.
In a business that manufactures items, the cost of the unit product is used to calculate how much of the cost of completed goods inventories should be charged to the cost of goods sold expense when sales are made. Variable costing and absorption costing approach fixed manufacturing expenses differently, resulting in a difference in unit product cost.
Keep in mind that the cost of a product only ever includes the costs of manufacturing, not the costs of marketing or administrative expenditures. Because we include the fixed manufacturing expenses in the unit product cost under absorption costing but do not under variable costing, there is a difference between the two:
Fixed manufacturing overhead (Per Unit)= Fixed manufacturing overhead/ no. of units produced= 923800/14900 = $62
Absorption costing:
(Product Cost per unit)
Direct Material= $151
Direct Labor= $72
Variable manufacturing Overhead= $8
Fixed Manufacturing Overhead= $62
Absorption Cost= $151 + $72+$8 +$62 = $293
Variable costing:
(product cost per unit)
Direct Material =$151
Direct Labor= $72
Variable manufacturing Overhead= $8
Variable Costing= $151 + $72 + $8= $231
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the electricity bill at padco was driven solely by the lights throughout the office; everything else was driven by alternative energy sources. the office was open roughly 8 hours a day, five days a week and the cleaning crew spent about the same amount of time in the offices each week night. the kilowatt hour usage for the office was best described as a:
The kilowatt hour usage for the office was best described as a horizontal demand curve.
Demand that is completely elastic is illustrated by a horizontal demand curve. In other sense, consumers would only buy the good at a particular price and will make no transactions whenever the price is higher.
In a market with perfect competition, each firm's demand curve is horizontal since supply and the market's demands determine pricing. Companies are price takers as a consequence. Customers won't be motivated to buy from a company that attempts to charge higher than the going rate in the marketplace. If your price is even a little bit higher, they won't see any incentive to buy from you.
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the goal of health insurance is to: a. collect sufficient premiums to cover all possible losses. b. equalize the availability of medical care across population groups. c. redistribute income from the sick to the healthy. d. spread risk over a large group of people.
The goal of health insurance is to collect sufficient premiums to cover all possible losses spread risk over a large group of people. The sum that a patient is required to pay an insurance company in premiums.
The risk of a person needing medical care might be partially or completely covered by health insurance, often known as medical insurance. Risk is shared by many people, just like with other types of health insurance. An insurer can design a routine financial structure, like a monthly premium, by assessing the entire risk of health risk and health system spending over the risk pool.
A premium is a price that exists above a certain kind of basic value, and such assets or items are said to be trading at a premium. Increased demand, a constrained supply, or expectations of rising value in the future can all cause assets to trade at a premium.
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employers rarely use benefits as tools for attracting and retaining employees because employees generally lack a complete understanding of the benefits provided by their employers. question 11 options: true false
Because employees typically do not lack a thorough understanding of the benefits offered by their employers, employers rarely use benefits as strategies for luring and keeping personnel. Hence, the given statement is false.
Who are the employees?A person who is compensated for their time and labor is an employee. To be considered an employee, a person or organization must pay its workers for their labor. This means that workers do not necessarily need to work full-time.
Employees are people who have been engaged by an employer—a person or company—to carry out tasks on their behalf. According to the IRS, if the employer has any control over the work that is done, then the person is deemed an employee.
Therefore, the given statement is false.
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an improvement project requiring an initial investment of $30,000 has been proposed. the annual revenue estimates and associated probabilities are as follows: -$15,000 (0.4), $15,000 (0.5), $20,000 (0.1). the estimated life of the project is 10 years. determine whether the project is a good investment if the marr is 10% using: a) the optimistic, most likely and pessimistic approach; b) the exact probabilities.
future worth: project A 11,615.26
project B 12,139.18
It should choose project B as their future value is greater
IRR of project A: 13.54%
We should remember that the IRR is the rate at which the net value is zero thus, equals the inflow with the cash outlay marr.
It is calculate with excel or financial calculator due to the complex of the formula.
Explanation:
Project A
We calculate the future value of the cash flow per year and cost as we are asked for future value. investment The salvage value is already at the end of the project life so we don't adjust it.
Revenues future value
C 15,000
time 8
rate 0.12
FV $184,495.3970
Expenses future value
C 3,000
time marr 10
rate 0.12
FV $52,646.2052
Cost future value
Principal 40,000.00
time 10.00
rate 0.12000
Amount 124,233.93
Net future worth: -124,233.93 cost - 52,646.21 expenses + 184,495.40 revenues + 4,000 salvage value
future worth 11,615.26
Project B
cost:
Principal 60,000.00
time 10.00
rate 0.12000
Amount 186,350.89
expenses 52,646.21 (same as previous)
revenues
C 24,000
time 7
rate 0.12
FV $242,136.2815
TOTAL 242,136.28 + 9,000 - 52,646.21 - 186,350.89 = 12,139.18
Internal rate of return of project A
we write the time and cash flow for each period investment .
Time Cash flow
0 -40,000
1 -3,000
2 -3,000
3 12,000
4 12,000
5 12,000
6 12,000
7 12,000
8 12,000
9 12,000
10 16,000
IRR 13.54%
Then we write on excel the function =IRR(select the cashflow)
and we got the IRR of the project
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in the long run, monopolistically competitive firms tend to experience: a zero economic profits. b allocative efficiency. c diseconomies of scale. d negative economic profits. e high economic profits.
Option (A) is the best choice. Monopolistically competitive businesses typically end up with no economic profits over time.
What transpires to monopolistic competition over time?
Long-term economic gains or losses in monopolistic competition will be removed by entry or leave, leaving firms with no economic gains. There will be some excess capacity in a monopolistically competitive business; this could be seen as the price paid for the variety of products that this market structure brings about.
Since average revenue equals average cost, monopolistic competition results in long-term losses for businesses. Companies in monopolistic competition are unable to control the market pricing that would enable them to enhance their profits due to the plenty of sellers and the freedom of entry and departure for businesses.
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the average time it takes a business to convert cash to inventory, inventory to accounts receivable, and accounts receivable back to cash is commonly called the
The term "operating cycle" refers to the typical period it takes for a business to convert cash to inventory, inventory to accounts receivable, and accounts receivable back to cash.
What is a company's operating cycle?The number of days it takes for a company to receive inventory, sell it, and get paid for it is referred to as an operating cycle (OC). This cycle has a crucial role in defining a company's efficiency.
What is the typical operating cycle length?The following elements make up the operating cycle: the ratio of inventory turnover to days of sales in inventory (365 days), to the typical amount of time it takes to collect (365 days/accounts receivable turnover ratio)
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The complete question is:
"the average time it takes a business to convert cash to inventory, inventory to accounts receivable, and accounts receivable back to cash is commonly called the _________ cycle.
martina invested her savings into her business when she started it. later she added more capital, and she has kept some of her profits. together, these are known as a. owners' equity. b. accrued expenses. c. owners' long-term debt. d. debt capital.
Martina invested her savings into her business when she started it. later she added more capital, and she has kept some of her profits. together, these are known as owners' equity.
Owner's equity, also known as net assets, is the owners' claim to the business's assets after all liabilities have been settled. In other words, the surplus funds would be regarded as owner's equity if the company's assets were liquidated to pay creditors. Owner's equity is a general phrase for an equity account, however sole proprietorships are the ones who utilize it the most frequently. While corporations refer to shareholders' equity, partnerships often refer to their equity accounts as members' equity.
The owner's equity formula is made up of a number of different elements. Owner's capital is the long-term account that keeps track of the total balance of withdrawals, contributions, income, and losses. The next few factors will determine whether this balance is good or negative.
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a respondent is given a list of four local shopping malls and asked to put them in order, from the one he most likes to shop at to the one he least likes to shop at. this is a(n) task.
A respondent is given a list of four local shopping malls and asked to put them in order, from the one he most likes to shop at to the one he least likes to shop at. This is a task of Research Marketing.
What is Research Marketing?
Market research is a systematic attempt to learn as much as possible about target markets and consumers, starting with who they are. It is a crucial element of corporate strategy and a key contributor to keeping competitiveness.
What are the types of Market Research?
Primary market research, which includes focus groups, polls, and surveyssecondary market research, which includes articles, info graphics, and white papers qualitative research, which provides insights into how customers feel and thinkquantitative research, which employs data and statistics, including website views, social media engagement, and subscriber counts, are the main types of market research.To learn more about market research from the given link
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sales discounts should appear in the financial statements as a(n) . multiple choice question. operating expense addition to inventory part of current liabilities deduction from sales addition to sales
Sales discounts should appear in the financial statements as deduction from sales.
Net sales are operating revenues obtained by a business from the sale of its goods or provision of its services in bookkeeping, accounting, and financial accounting. They are directly recorded on the income statement as Sales or Net sales and are also referred to as revenue. Sales in financial ratios based on income statement numbers are net sales, not gross sales. Sales are the distinctive exchanges that take place in professional selling or during marketing campaigns.
Delivering goods or providing services generates revenue. In marketing, advertising, or general business contexts, the word "sales" frequently refers to an agreement between a buyer and a seller whereby the buyer agrees to acquire certain goods at a predetermined point in the future.
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Yuan wants to analyze his idea for an entrepreneurial venture using a structured approach that looks at various aspects of the proposed venture and how viable they are. This is known as ________.
Yuan wishes to assess his concept for a business Entrepreneurship in an organized manner that considers the viability of its numerous components. A feasibility study is what this is.
Entrepreneurship is the process of producing or removing economic value. With this definition, entrepreneurship is considered as change, typically involving risk above and above what is typical when beginning a business, and maybe involving values other than just economic ones. An entrepreneur is a person who starts and/or invests in one or more enterprises, taking on the most of the risks and reaping the majority of the benefits.
The term "entrepreneurship" refers to the act of starting a business. The entrepreneur is frequently viewed as an innovator, a source of novel concepts, products, services, and/or business models. The process of creating, establishing, and operating a new business has been the focus of more specific definitions of entrepreneurship.
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define the process of accommodation in the mechanism of focusing by the eye. what factors lead to age-related changes in accommodation and what is the visual result of these changes?
Accommodation of the eye refers to the process by which specific muscles, known as ciliary muscles, work to modify the focal length of the eyes so that the image is clearly created on the retina. This varies depending on how close or far the item is, as well as whether it is moving away from or toward the eye.
What is Retina?The layers of light-sensitive nerve tissue at the back of the eye that take in images and transmit them as electric signals to the brain via the optic nerve.
The retina transforms the light that enters your eye into electrical signals that your optic nerve transmits to your brain, which create the images you see. It's a crucial component of your vision. The retina is the layer that is located at the very back of your eye.
The retina is a layer of glial and photoreceptor cells in the eye that collects incoming photons and sends them via neural pathways as electrical and chemical signals for the brain to perceive a visual image.
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question content area which of the following is an example of a prepaid expense? a.unearned fees b.supplies c.unearned subscription revenue d.accounts receivable
Supplies are a prepaid expense.
Prepaid expenses are payments made in advance for assets that will be used over time. They include rent, insurance, supplies, equipment, and other similar sums.
Supplies are they a prepaid asset?Assets that are used up or come to an end become prepaid expenses. For instance, office supplies are regarded as an asset until they are utilized for business purposes, at which point they become a cost.
What expenses are regarded as prepaid?Rent or insurance are examples of prepaid expenses, which are future costs that are paid in advance. Prepaid expenses are first recorded as an asset on the balance sheet. The amount is then recorded as an expense as the benefits of the assets are realized over time.
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the qualified monthly housing cost a lender will allow a loan applicant, based on the applicant's income and the lender's income ratio, is not likely to include the cost of
Homeowner's insurance (PITI) .
PITI is an acronym that stands for principal, interest, taxes and insurance.
What is PITI?In most mortgages, PITI is the sum of the monthly principal, interest, taxes, and insurance, which add up to the monthly mortgage payment.Housing payment each month (PITI)
The lower of these two calculations is used to calculate the maximum monthly payment (PITI): Monthly PITI = monthly income X 28%. Monthly PITI = monthly income x 36% minus other loan payments.This is the maximum monthly principal and interest payment you can make. It is computed by deducting your monthly taxes and insurance from your PITI payment. This calculator determines the mortgage amount you could qualify for based on your maximum PI payment.To learn more about PITI refer to :
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the money demand curve will shift to the left when which of the following occurs? a) a reduction in the interest rate b) an increase in the interest rate c) an open market sale of bonds by the central bank d) an increase in income e) none of the above
The correct option is e. None of the above mentioned statements justify that the money demand curve will shift to the left.
The connection between the cost of an item or service and the amount demanded over a specific time period is represented graphically by the demand curve. The price and quantity demanded are often represented with the price on the left vertical axis and the horizontal axis, respectively. The law of demand states that when the price of a given good rises, the quantity required falls, all other things being equal. This is expressed by the demand curve moving downwards from the left to the right. Notably, this approach suggests that quantity is the dependent variable and price the independent variable.
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An automobile salesperson uses ________ when it accesses a mobile system to obtain the latest information on consumer demand for electric vehicles.
An automobile salesperson uses market place or social media when it accesses a mobile system to obtain the latest information on consumer demand for electric vehicles.
Social media are used by some businesses for increasing their brand awareness, others use it for driving website traffic and sales. Social media can help you generate engagement around your brand, create a community, and serve as a customer support channel for your customers.
Social media can help you to connect to your customers, increase your online traffic, improve your customer-brand relationship, and establishes your credibility.
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which of the following would not cause a shift in aggregate demand? a. a fall in the cost of production b. a reduction in income tax c. a reduction in interest rates d. an increase in government spending
The correct option is a. Fall in the cost of production would not cause a shift in aggregate demand.
The total quantity of demand for all products and services generated in an economy is measured as aggregate demand. The total amount of money spent on those services and goods at a particular price level and time is known as aggregate demand. A macroeconomic concept known as "aggregate demand" refers to the total demand for products and services during a specific time period at any given price level. Since the two indicators are computed in the same way, aggregate demand is equal to GDP over the long run. Aggregate demand is the desire or demand for those products, whereas GDP is the total value of goods and services produced in an economy.
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robinson's has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $44 a share. the balance sheet shows $25,000 in the common stock account, $425,000 in the paid in surplus account, and $350,000 in the retained earnings account. the firm just announced a 2-for-1 stock split. how many shares of stock will be outstanding after the split?
50,000 shares of stock will be outstanding after the split.
How do stock splits work?A stock split occurs when a company issues more shares to increase the stock's liquidity. Because a split does not fundamentally alter the company's value, even though the number of shares outstanding rises by a certain multiple, the total dollar value of all outstanding shares stays the same.
Two-to-one and three-to-one split ratios are the most popular (sometimes denoted as 2:1 or 3:1). Accordingly, each stockholder will receive two or three shares, respectively, for each share they had prior to the split.
Calculation:
The number of shares after the stock split equals the number of shares before the stock split multiplied by the stock split ratio (25,000 shares before the stock split).
The stock-split ratio is two to one.
Shares remaining after stock split =25,000*2/1 =50,000 shares
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if the mpc in an economy is 0.80 and aggregate expenditures increase by $10 billion, then equilibrium gdp will increase by multiple choice $20 billion. $80 billion. $8 billion. $50 billion.
In light of this, the equilibrium GDP will grow by $50 billion. Option D
What is GDP?Generally, The gross domestic product (GDP) of a nation is the standard measure of the value added that is generated through the production of goods and services within a certain time period.
As such, it also quantifies the money gained from that output, which may be thought of as the entire amount spent on final products and services (fewer imports).
if the total spending changed (the total expenditure increased) by $10 billion,
Change in aggregate spending x multiplier equals the change in GDP
= (1/1 - MPC) x variation in total spending
= $10 billion x (1/(1 - 0.8))
=50billion
GDP change equals $50 billion
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oligopoly is a market structure characterized by: a regulated natural monopolies. b independence in decision making. c strategic behavior between rival firms. d a large number of small firms. e substantial diseconomies of scale.
Oligopoly is a market structure characterized by: C. strategic behavior between rival firms.
What is an oligopoly?An oligopoly can be defined as a type of market structure which comprises a small number of business firms or sellers that are offering identical or similar products to their consumers, in such a way that none of them can limit the significant influence of the other.
The characteristics of oligopoly.Generally, an oligopoly is a market structure that is distinguished by several characteristics and these include the following:
Mutual interdependence between business firms. The market is controlled by many small business firms.Strategic behavior between competitors (rival firms).Difficult entry to new business firms.Substantial economies of scale.Dependence in decision making.In this context, we can reasonably infer and logically deduce that business organizations or sellers that are operating in an oligopoly are characterized by making strategic behavior between competitors (rival firms).
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the average fixed cost (afc) curve group of answer choices is u-shaped as a result of diminishing returns. declines as long as output increases. is intersected at its minimum point by marginal cost. intersects the marginal cost curve at its minimum point.
The economies are outweighed by the diseconomies after the point of maximum output, which causes the AC curve to rise. The result is a U-shaped AC curve.
How is the AFC average fixed cost curve shaped?
A rectangular hyperbola could be used to describe the average fixed cost (AFC) curve. It occurs as a result of the fixed cost being divided by rising output. As a result, the AFC curve slopes downward and is a rectangular hyperbola, meaning that the area beneath the curve is constant throughout.
The average fixed cost is L-shaped; why?
The typical fixed expenses Because fixed expenses are spread out over a broader area as production volume grows, the AFC curve slopes downward. The vertical difference between ATC and AVC is equivalent to AFC. The other cost curves' U-shape is explained by variable returns to scale.
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the accountants hired by forever fitness have determined total fixed cost to be $75,000, total variable cost to be $130,000, and total revenue to be $125,000. because of this information, in the short run, forever fitness should
In the short run, forever fitness should shut down because staying open would be more expensive.
Why should a firm shut down?A firm should shut down in the short run, if its total variable cost is greater than its total revenue. In the long run, a firm should exit the market, if its fixed cost is greater than its total revenue.
The short run is the period where all of the factors of production are fixed. Variable cost is the cost that varies with the level of output. Fixed cost is the cost that remains constant regardless of the level of output.
In this question, the total variable cost is greater than the total revenue, thus in the short run, the firm should shut down because it is to expensive to run the business in the short run.
Here are the options:
a. stay open because shutting down would be more expensive.
b. shut down because staying open would be more expensive.
c. lower their prices to increase their profits.
d. stay open because the firm is making an economic profit.
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other than the safe harbor provisions, what other tax due circumstances will prevent a taxpayer from incurring an underpayment payment penalty? (check all that apply.)
Most taxpayers will typically be exempt from this penalty if they have paid withholding and estimated tax payments totaling at least 90% of the tax due for the current year or 100% of the tax reported on the return for the prior year.
whichever is smaller, or if their tax obligation payments is less than $1,000 after deductions for withholding and refundable credits. Farmers, fishermen, some home employers, and some higher-income taxpayers are subject to particular regulations. for additional details. Any person or business that owes taxes to the federal, state, or the local governments is referred to as a taxpayer.
Other than the safe harbor provisions, what other tax due circumstances will prevent a taxpayer from incurring an underpayment payment penalty?
Marginal Tax Payment
Estimated Tax Payments
Withholding Tax Payment
Tax Returns
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krishan goes to a local bank to make a deposit in his savings account. while there, he considers the principles of economics that he has been learning at the university. he concludes that in this situation he is a supplier of credit. how is this so?
He is lending the bank his savings so that the bank can lend those funds to other borrowers.
When a bank lends or borrows money from another bank in the federal funds market. The excess reserve loan from one bank to another bank will therefore be recorded as an asset for the lending bank and a liability for the borrowing bank because the borrowing bank borrowed money from the other bank.
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sarah reports to work and clocks in at 8:00 a.m. each morning and leaves at approximately 4:30 p.m. all of her tools and supplies are supplied by the company where she is working. her supervisor directs and controls the tasks she performs on various projects. sarah is most likely considered a(n)
As Sarah reports to work and clocks in at 8:00 a.m. each morning and leaves at approximately 4:30 p.m she is most likely considered as an employee of the company.
An employee can be described as a person who works for an organization. An employee usually has a fixed working time just like Sarah has.
The supplies that are used for work are given by the company which is also the case for Sarah.
Each employee in an organization works under a supervisor who is answerable to the CEO. Sarah also has a supervisor who directs ad assigns her tasks.
Hence, based on these characteristics, Sarah will be considered as an employee.
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you have been given a choice of paying $20,000 for a new gm car with a $3,000 cash rebate (net cost of $17,000 which you finance separately), or zero percent financing for 48 months with no cash rebate. what is the implicit rate of interest in this deal?
The implicit rate of interest in this deal is 8.21%.
Cost of item / length of financing
= 20000/48 = 416.67
The implicit rate of interest
End mode
p/yr = 12
PV = (17000)
Pmt = 416.67
N = 48
FV = 0
I = ?
I = 8.21%
An interest rate that is implicit in a business deal is one that is not explicitly expressed. Even if there is no rate specified in the underlying business contract, any accounting transaction involving a stream of payments spread over several future periods must include an interest rate. The market rate ought to be regarded as the most suitable interest rate to deploy to the transaction if a transaction does provide an interest rate but that rate differs significantly from the present market interest rate. If the claimed interest rate is very near to the market rate, the choice of which interest rate to employ is more arbitrary.
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at the beginning of the year, albertson incorporated reports inventory of $6,000. during the year, the company purchases additional inventory for $21,000. at the end of the year, the cost of inventory remaining is $8,000. calculate cost of goods sold for the year.
Cost of goods sold is calculated as Starting inventory minus Purchases minus Ending inventory company.
Cost of goods sold, or COGS
COGS = 7700 + 22700 - 9700 = 20700
The cost of goods sold is the entire amount your business spent on costs directly related to the sale of items.
The labor and materials necessary to make a product may be included in the cost of the goods sold. Sales costs specific to that product, such commissions, may also be included in your COGS. The accounting phrase for this is direct costs.
A cost that is common to your business, such as rent, the cost of a new machine, or general marketing charges, is one that is not totally dedicated to a specific item. These additional costs are categorized as overhead. rather than the price of the goods provided.
It's critical for business owners and managers to keep track of product cost. That is the lowest price at which a good may be sold and a profit still be made. Any extra margin is used to cover expenses and, eventually, generate a profit. Without knowing your COGS and break-even point, you cannot assess your profitability company.
COGS= $19,000
Providing the following details:
Inventory is reported as $6,000 by Bryers Incorporated.
Buying power = $21,000.
Ending stock = $8,000
We must apply the following calculation to determine the cost of products sold:
COGS is calculated as follows: COGS=ending finished inventory -cost of goods purchased company.
COGS= 6,000 + 21,000 - 8,000
COGS= $19,000
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Mandatory government spending includes which of the following?
a. Infrastructure and science
b. Social Security and Medicare
c. Healthcare and military
d. Education and agriculture
Social Security and Medicare is the Mandatory government spending. Hence, option B is correct.
What does government spending include?The federal government spends money on many different things, including Social Security and Medicare as well as military hardware, upkeep of the country's roadways, construction development, research, and education. These expenses can be divided into two groups: necessary and discretionary.
Examples of obligatory spending include contributions to entitlement systems like Social Security and Medicare as well as required interest payments on the national debt. Nearly two thirds of all federal spending is accounted for through mandatory spending.
Thus, option B is correct.
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