ON Amazon:
Key Goods or Services/Features: Describe the key goods and services your selected organization provides. Include information about where, why, and for whom they are provided. Separate the financial interest of the company into financial and nonfinancial features. For example: Are they a manufacturer offering their own financing to customers? Is the company currently facing any financial woes? Explain how these features of the organization (e.g., major products or services, customers, location) help set the boundaries for business decisions.
In: Finance
A for joint venture with B, purchased goods costing Rs.
2,00,000. B sold the goods for Rs. 2,80,000. Unsold material
costing Rs. 10,000 was taken over by A at Rs. 8,000. A is entitled
to get 1% commission on purchases. B is entitled to get 2%
commission on sales, profit on venture will be:
A) Rs. 80,000
B) Rs. 80,800
C) Rs. 81,200
D) Rs. 80,400
In: Accounting
Anna spends her income on green goods (G) and brown goods (B). Initially, Anna's income is $30, the price of green goods is $2, and the price of brown goods is $1. The government introduces a new regulation that increases the price of brown goods to $5.
Her utility function is as before: U(G,B) = G^2B
Her marginal utility for green goods is: MUg = 2GB
Her marginal utility for brown goods is: MUg = G^2
a)Draw a clearly labeled graph showing the effect of the policy. The graph should include the initial, final, and decomposition baskets, as well as the corresponding indifference curves and budget lines.
b) Anna's compensating variation equals = $__?__
c) Anna's equivalent variation equals = $__?__
In: Economics
When should a country export goods and when should a country import goods
When do you think tariffs and or quotas should be put in place?
Do you think President Trumps strict trade policies will benefit the country and why
In: Economics
State governments are considering taxing online purchases of goods through Amazon. Should sales taxes on goods purchased through Amazon be paid to the government by consumers or producers? brief explanation please
In: Economics
A small country imports industrial goods and exports agricultural goods. Both industry and agriculture are perfectly competitive. A new minimum wage law raises wages in industry but not in agriculture. However, all workers displaced from industry as a result of the new, higher wage find employment in agriculture. Is an import tax on industrial goods the best way to deal with any resulting problems? Why (not)?
USE OF APPROPRIATE DIAGRAMS TO ANSWER EACH QUESTION IS
ENCOURAGED.
In: Economics
Exercise 14-15 Schedule of cost of goods manufactured and cost of goods sold LO P1, P2
Beck Manufacturing reports the information below for
2017.
| Raw Materials Inventory | |||
| Begin. Inv. | 12,500 | ||
| Purchases | 55,000 | ||
| Avail. for use | 67,500 | ||
| DM used | 49,000 | ||
| End. Inv. | 18,500 | ||
| Work in Process Inventory | |||
| Begin. Inv. | 17,400 | ||
| DM used | 49,000 | ||
| Direct labor | 31,700 | ||
| Overhead | 61,000 | ||
| Avail. for mfg. | 159,100 | ||
| Cost of goods mfg | 146,300 | ||
| End. Inv. | 12,800 | ||
| Finished Goods Inventory | |||
| Begin. Inv. | 21,400 | ||
| Cost of goods mfg | 146,300 | ||
| Avail. for sale | 167,700 | ||
| Cost of Goods Sold | 147,300 | ||
| End. Inv. | 20,400 | ||
Required:
1. Prepare the schedule of cost of goods
manufactured for the year.
2. Compute cost of goods sold for the year.
Part 1
| Beck Manufacturing |
| Schedule of cost of goods manufactured |
| For year ended Dec 31, 2017 |
| ? | ? |
| ? | ? |
| ? | ? |
| Total manufacturing costs | ? |
| ? | ? |
| Total cost of work in progress | ? |
| ? | ? |
| Cost of goods manufactured | $ |
Part 2
| Beck manufacturing | ||||||||||||
| Partial income statement | ||||||||||||
For year ended Dec 31, 2017
|
In: Accounting
Under sale of Goods Act 1930. Who is unpaid seller, what are his rights against Goods and has he any remedy against the buyer personally?
(more then 200 words)
In: Economics
Jake's Sporting Goods sells sporting goods and apparel in Omaha, NE. On October 17, Jake’s purchased $50,000 of sporting goods from Cincinnati Wholesale Distributors with terms FOB shipping point and 1/10, n/EOM. On October 18, Jake’s purchased $45,000 of sporting goods from the Chicago Sports Wholesalers with terms FOB destination and 3/15, n/30. Both suppliers hired KC Trucking Company to deliver the goods.
The trucks carrying these goods collided on the bridge over the Missouri River between Omaha and Council Bluffs. Both drivers were "fished" out of the river and were not hurt. However, all of the merchandise was destroyed. Both suppliers have sent Jake's Sporting Goods invoices and are expecting payment. The date is October 25.
Advise Jake on what he should do and how much he should pay. Show your calculations and include a description of the advantages of using various shipping terms.
In: Accounting
Exercise 3-6 (Static) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3]
The following data from the just completed year are taken from the accounting records of Mason Company:
| Sales | $ | 524,000 |
| Direct labor cost | $ | 70,000 |
| Raw material purchases | $ | 118,000 |
| Selling expenses | $ | 140,000 |
| Administrative expenses | $ | 63,000 |
| Manufacturing overhead applied to work in process | $ | 90,000 |
| Actual manufacturing overhead costs | $ | 80,000 |
| Inventories | Beginning | Ending | ||
| Raw materials | $ | 7,000 | $ | 15,000 |
| Work in process | $ | 10,000 | $ | 5,000 |
| Finished goods | $ | 20,000 | $ | 35,000 |
Required:
1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.
In: Accounting