Question

In: Accounting

Explain in detail the following terms: 1. production of plastic goods. 2. Oil drilling

Explain in detail the following terms:
1. production of plastic goods.
2. Oil drilling

Solutions

Expert Solution

Ans( a)The term “plastics” includes materials composed of various elements such as carbon, hydrogen, oxygen, nitrogen, chlorine, and sulfur. Plastics typically have high molecular weight, meaning each molecule can have thousands of atoms bound together. Naturally occurring materials, such as wood, horn and rosin, are also composed of molecules of high molecular weight. The manufactured or synthetic plastics are often designed to mimic the properties of natural materials. Plastics, also called polymers, are produced by the conversion of natural products or by the synthesis from primary chemicals generally coming from oil, natural gas, or coal.  

(B)Oil drilling is the process by which tubing is bored through the Earth's surface and a well is established. A pump is connected to the tube and the petroleum under the surface is forcibly removed from underground. Oil drilling is a highly-specialized business that grew into the largest industry on the planet by the early 21st century.


Related Solutions

Please explain oil and gas revenue in detail.
Please explain oil and gas revenue in detail.
7.11. Consider production ratios of 2:1:1, 3:2:1, and 5:3:2 for oil, gasoline, and heating oil. Assume...
7.11. Consider production ratios of 2:1:1, 3:2:1, and 5:3:2 for oil, gasoline, and heating oil. Assume that other costs are the same per gallon of processed oil. a. Which ratio maximizes the per-gallon profit if oil costs $80/barrel, gasoline is $2/gallon, and heating oil is $1.80/gallon? b. Suppose gasoline costs $1.80/gallon and heating oil $2.10/gallon. Which ratio maximizes profit? c. Which spread would you expect to be most profitable during the summer? Which during the winter?
explain the 3 principles of taxonomy and what thoes terms mean in detail 1. identification 2.classification...
explain the 3 principles of taxonomy and what thoes terms mean in detail 1. identification 2.classification 3.nomenclature
Explain whether the following goods and services are private, public, mixed or merit goods in terms...
Explain whether the following goods and services are private, public, mixed or merit goods in terms of their rivalry and excludability 2.1. A game reserve (2) 2.2. A cell phone (mobile phone) (2) 2.3. Private security services (2) 2.4. Education (2) 2.5. The National Defence Force
.     Explain the following:       a)   Using a production possibilities schedule and assuming consumer goods and capital goods, explain...
.     Explain the following:       a)   Using a production possibilities schedule and assuming consumer goods and capital goods, explain how your positions on the curve can determine your location of the economic growth in the future. Use diagrams.       b)   Why do we have increasing opportunity cost in real world and what does it mean in terms of the shape of the production possibilities curve? Carefully explain.       c)   How does a production possibilities schedule show scarcity choice and opportunity cost? Using a diagram, carefully explain. 2.   Explain...
Problem 1: Oil Production Data: The Data in the following are the annual world crude oil...
Problem 1: Oil Production Data: The Data in the following are the annual world crude oil production in millions of barrels for the period 1880-1988. The data are taken from Moore and McCabe( 1993, p. 147). Here is the code help you to paste the data into your R. data5<-'year barrels 1880 30 1890 77 1900 149 1905 215 1910 328 1915 432 1920 689 1925 1069 1930 1412 1935 1655 1940 2150 1945 2595 1950 3803 1955 5626 1960...
Problem 1: Oil Production Data: The Data in the following are the annual world crude oil...
Problem 1: Oil Production Data: The Data in the following are the annual world crude oil production in millions of barrels for the period 1880-1988. The data are taken from Moore and McCabe( 1993, p. 147). Here is the code help you to paste the data into your R. data5<-'year barrels 1880 30 1890 77 1900 149 1905 215 1910 328 1915 432 1920 689 1925 1069 1930 1412 1935 1655 1940 2150 1945 2595 1950 3803 1955 5626 1960...
Please explain those terms in detail. 1) Corporate finance 2) Financial statements 3) Taxes and Cash...
Please explain those terms in detail. 1) Corporate finance 2) Financial statements 3) Taxes and Cash Flows.
Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic...
Cost of Goods Sold Budget Delaware Chemical Company uses oil to produce two types of plastic products, P1 and P2. Delaware budgeted 17,300 barrels of oil for purchase in June for $68 per barrel. Direct labor budgeted in the chemical process was $129,400 for June. Factory overhead was budgeted at $211,800 during June. The inventories on June 1 were estimated to be: Oil $9,100 P1 6,100 P2 5,200 Work in process 7,500 The desired inventories on June 30 were: Oil...
Cost of Goods Sold Budget Wilmington Chemical Company uses oil to produce two types of plastic...
Cost of Goods Sold Budget Wilmington Chemical Company uses oil to produce two types of plastic products, P1 and P2. Wilmington budgeted 16,200 barrels of oil for purchase in June for $65 per barrel. Direct labor budgeted in the chemical process was $126,400 for June. Factory overhead was budgeted $189,500 during June. The inventories on June 1 were estimated to be: Oil $8,800 P1 5,900 P2 5,100 Work in process 7,300 The desired inventories on June 30 were: Oil $9,700...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT