Answer:
The cost of goods manufactured equals 650,000.
Explanation:
Based on the following details:
Beginning inventory= $250,000
Cost accumulated during the period= $500,000
Ending work in process inventory= $100,000.
To find the cost of goods manufactured, apply this formula:
cost of goods manufactured= beginning WIP + cost incurred - Ending WIP
cost of goods manufactured= 250,000 + 500,000 - 100,000
cost of goods manufactured= 650,000
Answer:
15.18%
Explanation:
To calculate the nominal annual rate
The first step is to determine EFF% with this formula
EFF% = [1 + (Nominal rate percentage/Number of months in a year)]^Number of months in a year
Let's substitute into the formula
EFF% = [1 + (15%/12)]^12
EFF% = (1 + 0.0125)^12
EFF% = (1.0125)^12
EFF% = 1.1608 × 100%
EFF% = 116.08%
The second step is to find Rnom for quarterly compounding at 116.08% using this formula
Rnom compounding quarterly = (1 + (R/4))^4
Let's plug into the formula
Rnom compounding quarterly = (116.08%)^(1/4) Rnom compounding quarterly = 1 + R/4
Thus,
Rnom compounding quarterly = 15.18%
Therefore, Anne Lockwood should offer her customers a nominal rate of 15.18% compounded quarterly
Answer:
a) Kate will yield 100 tomatoes and no heads of lettuce.
b) Jim will yield 0 tomatoes and 180 heads of lettuce.
Explanation:
Due to better climatic conditions for growing tomatoes at Kate's plot, she should prioritize those for superior quality. Additionally, her lettuce yield per square foot is lower than Jim's (3 heads compared to his 6). This means Kate could cultivate 60 heads and Jim could produce 120 heads of lettuce on 20 square feet (double). Thus, she should skip lettuce cultivation due to both quality and quantity considerations.
The same reasoning applies to Jim's tomato production. If he grows tomatoes, he’ll only manage 60 at a 20-square-foot plot, in contrast to Kate's 100. Therefore, he should refrain from growing tomatoes.
