Answer:
downward-sloping
Explanation:
The production and operations manager at a large shoe factory in Fall River, Massachusetts, notices that the total number of hours worked by production employees has increased 12 percent, while the number of pairs of shoes ready for shipping has dropped 6 percent this year over last year. This means:__________.A) the inflation rate is unchanged. B) the demand for shoes is decreasing. C) the manager's calculations cannot be correct. D) productivity has decreased. E) the gross national product has increased by 6 percent.
Answer:
The answer is D
Explanation:
The correct option is D. - productivity has decreased. Productivity is the quality of being able to produce goods and services. It is a measure of efficiency in production.
Since the number of hours worked by employees increased while while the number of shoes ready for shipping (production) dropped, this means that the efficiency has dropped.
Option A is wrong because there is no where that tells us that the price of inputs has increased.
When a perfectly competitive firm decides to shut down, Group of answer choices marginal cost is above average variable cost.
Answer:
price is below average variable cost
Explanation:
A perfect competition is characterized by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry.
In the long run, firms earn zero economic profit. If in the short run firms are earning economic profit, in the long run firms would enter into the industry. This would drive economic profit to zero.
Also, if in the short run, firms are earning economic loss, in the long run, firms would exit the industry until economic profit falls to zero.
firms should shutdown when price is less than average variable cost and exit when price is less than average total cost
The assets and liabilities of a company are $86,600 and $44,499, respectively. Stockholders' equity should equal a.$44,499 b.$131,099 c.$86,600 d.$42,101
Answer:
d.$42,101
Explanation:
We use the accounting equation to determine the Equity Balance
Accounting Equation States :
Assets = Equity + Liabilities
also,
Equity = Assets - Liabilities
therefore,
Equity = $86,600 - $44,499 = $42,101
thus
Stockholders' equity should equal $42,101
Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $2,000 of direct materials and used $3,500 of direct labor. The job was not finished by the end of September, but needed an additional $2,500 of direct materials in October and additional direct labor of $6,000 to finish the job. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost. What is the amount of job costs added to Work in Process Inventory during October
Answer:
the amount of job costs added to Work in Process Inventory during October is $20,500
Explanation:
The computation of the amount of job costs added to Work in Process Inventory during October is shown below;
= Direct material + direct labor + overhead applied
= $2,500 + $6,000 + 200% of $6,000
= $2,500 + $6,000 + $12,000
= $20,500
Hence, the amount of job costs added to Work in Process Inventory during October is $20,500
f a business has fixed costs of $1k a month, variable costs of $1k a month and has product sales of $2k a month, what statement is a correct analysis of the situation
Answer:
The correct option is b. The business is realizing $0 profit and the business is at break-even point.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
If a business has fixed costs of $1k a month, variable costs of $1k a month and has product sales of $2k a month, what statement is a correct analysis of the situation?
a. The business is realizing $2k profit and the business is at break-even point
b. The business is realizing $0 profit and the business is at break-even point
c. The business is realizing $2k loss and the business is at break-even point
d. The business is realizing $2k profit
The explanation of the answer is now provided as follows:
Total cost = Fixed cost + Variable cost = $1K + $1K = $2k
Total revenue = Product sales = $2k
Profit = Total revenue - Total cost = $2k - $2k = $0
When a business makes $0 profit, it implies that the business is at break-even point.
Therefore, the correct option is b. The business is realizing $0 profit and the business is at break-even point.
cho vay thương mại và cho vay tài chính khác nhau ở chổ nào?
A _____ is a systematic, critical, and unbiased review and appraisal of the basic objectives and policies of the marketing function and of the organization, methods, procedures, and people employed to implement the policies.
Answer:
Marketing audit
Explanation:
Marketing audit is defined as a thorough review of a company's marketing plan, strategies, objectives, and various activities being carried out to identify areas of improvement.
Audit can be conducted in 4 focus areas: pricing strategy, distribution strategy, product strategy, and promotional strategy.
Marketing audit is needed to make the marketing process of a business more efficient.
Merchandise inventory can be described as: (Check all that apply.) Multiple select question. an asset account. an expense account. an account increased with a debit. an account appearing on a balance sheet of a merchandiser. products that a company owns and intends to sell. an account appearing on a balance sheet of a service compan
Answer: • an asset account.
• an account increased with a debit.
• an account appearing on a balance sheet of a merchandiser
• products that a company owns and intends to sell.
Explanation:
Merchandise inventory refers to the account on the balance sheet which shows the total amount that's paid for products which are yet to be sold by the manufacturer. It can also be described as an:
• an asset account.
• an account increased with a debit.
• an account appearing on a balance sheet of a merchandiser
• products that a company owns and intends to sell
Answer:
Explanation:
an asset account
An account appearing on a balance sheet of a merchandiser
An account increased with a debit
Gross profit is the extra amount the company receives from the customer for merchandise sold over what the company paid to the vendor. True False
Answer:
True
Explanation:
Gross profit can be regarded as profit
that is made by a company after the deduction of the costs that is associated with producing and selling its products, it can also be explained as the costs that is associated with a company to provide its services. Gross profit usually show income statement of the company, and this is calculated by finding the difference between the cost of goods sold (COGS) as well as revenue (sales).
It should be noted that Gross profit is the extra amount the company receives from the customer for merchandise sold over what the company paid to the vendor.
Galvatron Metals has a bond outstanding with a coupon rate of 6.3 percent and semiannual payments. The bond currently sells for $949 and matures in 25 years. The par value is $1,000 and the company's tax rate is 39 percent. What is the company's aftertax cost of debt
Answer:
The right response is "4.102%".
Explanation:
Given:
Number of half years,
n = [tex]25\times 2[/tex]
= [tex]50[/tex]
Coupon per half years,
c = [tex]1000\times \frac{6.3 \ percent}{2}[/tex]
= [tex]31.5[/tex]
Price,
pv = 949
Par value,
= 1000
Now,
The YTM will be:
= [tex]rate(n,c,-pv,fv)\times 2[/tex]
= [tex]rate(50,31.5,-949,1000)\times 2[/tex]
= [tex]6.724[/tex] (%)
hence,
After tax cost of debt will be:
= [tex]YTM\times (1-tax \ rate)[/tex]
= [tex]6.724\times (1-39)[/tex]
= [tex]4.102[/tex] (%)
A seller uses a periodic inventory system, and on April 4, it sells $5,000 in merchandise on credit (when its cost is $2,400) to a customer on credit terms of 3/10, n/30. On April 5, the customer returns merchandise for a cash refund of $500.
Required:
Complete the seller's necessary journal entry.
Answer:
Periodic Inventory System
Journal Entries
April 4 Debit Accounts receivable $5,000
Credit Sales revenue $5,000
To record the sale of goods on credit, terms of 3/10, n/30.
April 5 Debit Sales returns $500
Credit Accounts receivable (cash) $500
To record the return of goods for a cash refund.
Explanation:
a) Data and Analysis:
April 4 Accounts receivable $5,000 Sales revenue $5,000 credit terms of 3/10, n/30.
April 5 Sales returns $500 Accounts receivable (cash) $500
b) The seller uses a periodic inventory system. Therefore, the cost of goods sold will not be recorded on April 4 until April 30, when there will be a physical count of inventory to determine the closing inventory. With the beginning and ending inventories together with the purchases account, the cost of goods sold can then be calculated.
A patent gives the inventor Multiple Choice property rights for 10 years. the right to keep the patented process but not the product for five years. the right to use the invention until development costs are recouped. exclusive right to manufacture, exploit, use, and sell the invention for a given time period.
Answer:
Explanation:
famoys
Berlin Ltd. uses a combined overhead rate of $2.90 per machine hour to apply overhead to products. The rate was developed at an annual expected capacity of 264,000 machine hours; each unit of product requires two machine hours to produce. At 264,000 machine hours, expected fixed overhead for Munich Ltd. is $250,800.
During November, the company produced 11,960 units and used 24,700 machine hours. Actual variable overhead for the month was $ 47,100 and fixed overhead was $ 20,000. Calculate the overhead spending, efficiency, and volume variances for November.
Answer:
Berlin Ltd.
1. Overhead spending variance
= $4,530 F
2. Overhead efficiency variance
= $2,262 U
3. Overhead volume variance
= $741 U
Explanation:
a) Data and Calculations:
Combined overhead rate per machine hour = $2.90
Annual expected capacity = 264,000
Machine hours required per unit of product = 2 hours
Total combined expected overhead = $765,600 ($2.90 * 264,000)
Expected fixed overhead = $250,800
Expected variable overhead = $514,800 ($765,600 - $250,800)
Fixed overhead per machine hour = $0.95 ($250,800/264,000)
Variable overhead per machine hour = $1.95 ($514,800/264,000)
November Usage and Production:
Production units = 11,960 units
Standard machine hours = 23,920 (11,960 * 2)
Actual machine hours used = 24,700
Actual variable overhead for the month = $47,100
Variable overhead per machine hour = $1.90688
Standard variable overhead cost = $48,165 ($1.95 * 24,700)
Actual fixed overhead = $20,000
Standard fixed overhead = $23,465 ($0.95 * 24,700)
1. Overhead spending variance = Standard overhead - Actual overhead
= ($2.90 * 24,700 - ($47,100 + $20,000))
= ($71,630 - $67,100
= $4,530 F
2. Overhead efficiency variance = (standard machine hours allowed for production – actual machine hours used) × standard overhead absorption rate per hour
= (23,920 - 24,700) * $2.90
= $2,262 U
3. Overhead volume variance = (Standard machine hours - Actual machine hours) * Standard Fixed Overhead Rate
= (23,920 - 24,700) * $0.95
= $741 U
Following the imposition of a price floor $2 above the equilibrium price, irate buyers convince Congress to repeal the price floor and to impose a price ceiling $1 below the former price floor. The resulting shortage is
Answer:
$3
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.
Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied
Shortage = $12 - $9 = $3
Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following:
For Materials Requisition Slips Labor Time Tickets
Job No. 221 $1,200 $2,100
222 1,700 2,200
223 2,400 2,900
224 2,600 2,800
General use 600 400
Totals $8,500 $10,400
Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 and two jobs in process: Job No. 221, $3,600, and Job No. 222, $4,000. During April, a summary of source documents reveals the following:
For Materials Requisition Slips Labor Time Tickets
Job No. 221 $1,200 $2,100
222 1,700 2,200
223 2,400 2,900
224 2,600 2,800
General use 600 400
Totals $8,500 $10,400
Foster applies manufacturing overhead to jobs at an overhead rate of 70% of direct labor cost. Job No. 221 is completed during the month.
Required:
Prepare summary journal entries to record the raw materials requisitioned, factory labor used, the assignment of manufacturing overhead to jobs, and the completion of Job No. 221.
Answer:
A. Dr Work in Process Inventory $7,900
Dr Manufacturing Overhead $600
Cr Raw Materials Inventory $8,500
B. Dr Work in Process Inventory $10,000
Dr Manufacturing Overhead $400
Cr Factory Labor $10,400
C. Dr Work in Process Inventory $7,000
Cr Manufacturing Overhead $7,000
D. Dr Finished Goods Inventory $8,370
Cr Work in Process Inventory $8,370
Explanation:
Preparation of summary journal entries to record the raw materials requisitioned, factory labor used, the assignment of manufacturing overhead to jobs, and the completion of Job No. 221.
a)Preparation of summary journal entries to record the raw materials requisitioned,
April 30
Dr Work in Process Inventory $7,900
($8,500+$600)
Dr Manufacturing Overhead $600
Cr Raw Materials Inventory $8,500
(To record the raw materials requisitioned)
B. Preparation of summary journal entries to record factory labor used
Dr Work in Process Inventory $10,000
($10,400-$400)
Dr Manufacturing Overhead $400
Cr Factory Labor $10,400
(To record factory labor used)
C. Preparation of summary journal entries to record the assignment of manufacturing overhead to jobs
Dr Work in Process Inventory $7,000
Cr Manufacturing Overhead $7,000
($10,000 × 70% = $7,000)
(To record the assignment of manufacturing overhead to jobs)
4. Preparation of summary journal entries to record the completion of Job No. 221.
Dr Finished Goods Inventory $8,370
Cr Work in Process Inventory $8,370
($3,600 + $1,200 + $2,100 + $1,470 = $8,370)
(To record the completion of Job No. 221)
Mystery, Inc. is contemplating selling bonds. The issue is to be composed of 800 bonds, each with a face amount of $750. How much is Mystery, Inc. able to borrow (in total) if each bond is sold at 95% of par
Answer:
$570,000
Explanation:
Calculation to determine How much is Mystery, Inc. able to borrow (in total) if each bond is sold at 95% of par
Using this formula
Total Amount borrowed=Bonds*Face value*95% of par
Let plug in the formula
Total Amount borrowed=800*$750*0.95
Total Amount borrowed=$570,000
Therefore the amount the Mystery, Inc. will be able to borrow (in total) if each bond is sold at 95% of par is $570,000
Samson Corporation had sales of $1,000,000 during 2012, of which 60 percent were on credit. On December 31, 2012, Accounts Receivable totaled $80,000, and Allowance for Bad Debts had a credit balance of $1,200. Given this information, if uncollectible receivables are estimated to be 1/2 of 1 percent of credit sales, the adjusting entry to account for uncollectible receivables as of December 31, 2012, would include a:________
A) Debit to Bad Debt Expense of $3,000
B) Debit to Bad Debt Expense of $1,800
C) Credit to Bad Debt Expense of $3,000
D) Credit to Allowance for Bad Debts of $5,000
Answer:
A) Debit to Bad Debt Expense of $3,000
Explanation:
Based on the information given the appropriatethe adjusting journal entry to ACCOUNT FOR UNCOLLECTIBLE RECEIVABLES as of December 31, 2012, would include a DEBIT TO BAD DEBT EXPENSE OF $3,000
BAD DEBT EXPENSE=$1,000,000 *.6*0.005
BAD DEBT EXPENSE=$3,000
To avoid potential liability for misconduct in corporate operations, directors can refrain from reasonable supervision of work delegated to a. none of the choices. b. corporate employees. c. corporate officers. d. board committees.
Answer:
c. corporate officers.
Explanation:
In the case when the potential obligation is to be avoided for any misconduct while having operations in the corporate so the directors could refrain from the supervision of the delegated work to the corporate officers so that the work could not harm that result in help in attains the goals & objectives
Therefore the option c is correct
The Up and Coming Corporation's common stock has a beta of 1.5. If the risk-free rate is 6 percent and the expected return on the market is 10 percent, what is the company's cost of equity capital
Answer:
12%
Explanation:
Calculation to determine the company's cost of equity capital
Using this formula
Cost of equity = risk free rate + beta*(expected return on market - risk free rate)
Let plug in the formula
Cost of equity = 6% + 1.5*(10% - 6%)
Cost of equity =6%+1.5*(4%)
Cost of equity =6%+6%
Cost of equity = 12%
Therefore the company's cost of equity capital is 12%
You estimate that you will owe $28,000 in student loans by the time you graduate. The interest rate is 5.00 percent. If you want to have this debt paid in full within 10 years, how much must you pay each month?
Answer:
the monthly payment is $296.98
Explanation:
The computation of the monthly payment is given below:
Given that
Future value be $0
The present value be $28,000
NPER is 10 × 12 = 120
RATE = 5% ÷ 12 = 0.4166%
The formula is given below:
=PMT(RATE,NPER,-PV,FV,TYPE)
After applying the above formula, the monthly payment is $296.98
Sal’s satellite company broadcasts TV to subscribers in Los Angeles and New York. The demand functions for each of these two groups are QNY = 60 - 0.25PNY QLA = 100 - 0.50PLA where Q is in thousands of subscriptions per year and P is the subscription price per year. The cost of providing Q units of service is given by C =1000 +40Q where Q=QNY +QLA What are the profit-maximizing price and quantity for the New York?
Answer:
For New York, the profit-maximizing price is $100 and the profit-maximizing quantity is 25.
Explanation:
For both Los Angeles and New York, we have:
C = 1000 + 40Q where Q=QNY +QLA
MC = dC/dQ = 40 ………………………. (1)
For New York, we have:
QNY = 60 - 0.25PNY ……………… (2)
Solving for PNY, we have:
0.25PNY = 60 - QNY
PNY = (60 / 0.25) - (1/0.25)QNy
PNY = 240 - 4QNY ………………. (3)
RNY = Revenue in New York = PNY * QNY = (240 - 4QNY)QNY = 240QNY – 4QNY^2 ………. (5)
MRNY = dRNY/dQNY = 240 - 8QNY ……….. (5)
Since profit is maximized when MC = MR, we therefore equate equations (1) and (5) and solve for QNY as follows:
40 = 240 - 8QNY
8QNY = 240 - 40
8QNY = 200
QNY = 200 / 8 = 25
Substituting QNY = 25 into equation (3), we have:
PNY = 240 - (4 * 25) = 240 - 100 = 100
Therefore, the profit-maximizing price is $100 and the profit-maximizing quantity is 25 for the New York.
Some costs that possibly could be traced directly to cost objects are nonetheless classified as indirect costs because:
Answer:
A. such costs cannot be traced to objects in a cost-effective manner
Explanation:
In the case when some cost that could be traced to cost objective are categorized as the indirect cost as such cost could not be traced with regard to the object on the cost effective as it might be possible to trace the cost but it might not be worth
So in this case it should be categorized as the indirect cost and the same is allocated to the cost object
As a manager, you have been asked to work with your employees to develop goals. What can you expect from this process? Check all that apply.
A: The advantages of setting goals and making plans always outweigh the disadvantages for every organization in any environment.
B: When deciding whether goals and plans will be beneficial, managers should consider whether the environment is more stable or more dynamic.
C: Planning can harm an organization because it distracts employees from important outcomes.
D: A benefit of goals is that they help motivate employees.
Answer:
If you can choose more than 1 answer I would choose these B and D
As a manager, when you have been asked to work with your employees to develop goals, the expectations from this process is
When deciding whether goals and plans will be beneficial, managers should consider whether the environment is more stable or more dynamic.A benefit of goals is that they help motivate employees.Thus options B and D are correct.
What is Manager?A manager is refer to an individual in an organization who is responsible for coordinating and controlling the functions of the organization and helps to perform business activities smoothly and timely.
When a manager is asked to work with employees to develop business goals this will appear as an increased motivation among employees as they feel valued for their contribution to goal setting will be taken.
As culture has a vital influence on growth and development, managers should pay attention to the environment when determining if goals and plans would be beneficial.
Therefore, options B and D are the appropriate answers.
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A company issues $15,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2020. Interest is paid on June 30 and December 31. The proceeds from the bonds are $14,703,108. Using effective-interest amortization, what will be the approximate carrying value of the bonds on Dec 31, 2020 balance sheet?
a. $14, 709, 481.
b. $15,000,000.
c. $14, 718, 844.
d. $14, 706, 232.
Answer:
Using effective-interest amortization, the approximate carrying value of the bonds on Dec 31, 2020 balance sheet is:
a. $14, 709, 481.
Explanation:
a) Data and Calculations:
Face value of bonds = $15,000,000
Bonds price = 14,703,108
Bonds discount = $296,892
Coupon interest rate = 7.8%
Effective interest rate = 8%
Interest payments on June 30 and December 31
June 30, 2020:
Interest expense = $588,124 ($14,703,108 * 4%)
Cash payment = $585,000 ($15,000,000 * 3.9%)
Amortization of discount = $3,124 ($588,124 - $585,000)
Bonds payable = $14,706,232 ($14,703,108 + $3,124)
December 31, 2020:
Interest expense = $588,249 ($14,706,232 * 4%)
Cash payment = $585,000 ($15,000,000 * 3.9%)
Amortization of discount = $3,249 ($588,249 - $585,000)
Bonds payable = $14,709,481 ($14,706,232 + $3,249)
ME company sold 200 units of its goods for $5 each. The COGS is $3 each. Prepare journal entries
for the transactions.
i) 10 days later, customer returned 50 units of goods
ii) 10 days later, customer wanted to return 50 defective units of goods, the company agreed to
reduce price to $3, so that the customer accepted the goods and not returned.
Answer:
Explanation:
Sales Returns and Allowances 250
Accounts Receivable 250
Sales Returns and Allowances 600
Accounts Receivable 600
A product returned to the seller by a customer is known as a sales return. Usually, a return is made as a result of defective or overage merchandise being ordered, shipped, or received.
What is a sale and sale return?A retailer pays only for the goods they sell and returns the unsold inventory to the wholesaler or manufacturer under a sale or return arrangement. The retailer can return unsold products under a sale or return arrangement, preventing write-offs.
Following are the necessary journal entries required to pass.
Particular Debit Credit
Sale Return A/c $250
1 Accounts Receivable A/C $250
(Being 50 units of defective goods return at $5)
2 Sale Return A/c $600
Accounts Receivable A/C $600
(Being 200 units of defective goods return at $3)
When goods are returned, the sales returns and allowances account is debited to lower sales, while accounts receivable or cash are credited to give refunds or lower what the consumer owes. To credit the inventory with the returned items, a second entry debiting inventory must be created.
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Gross Domestic Product equals $1.2 trillion. If consumption equals $690 billion, investment equals $200 billion, and government spending equals $260 billion, then:
Answer:
imports exceed exports by $50 billion.
Explanation:
Calculation to determine how much imports exceed exports
Gross Domestic Product $1.2 trillion
Less Consumption ($690 billion)
Less Investment ($200 billion)
Less Government spending ($260 billion)
($1.2 trillion-$690 billion-$200 billion-$260 billion)
Then:imports exceed exports by $50 billion
Following is the sales budget for Coore, Inc., for the first quarter of 2019.
January February March
Sales budget $168,000 $186,000 $199,000
Credit sales are collected as follows:
65 percent in the month of the sale.
20 percent in the month after the sale.
15 percent in the second month after the sale.
The accounts receivable balance at the end of the previous quarter was $107,000 ($78,100 of which was uncollected December sales)
Requried:
a. Compute the sales for November.
b. Compute the sales for December.
c. Compute the cash collections from sales for each month from January through March.
Answer:
a. Sales for November = $192,666.67
b. Sales for December = $312,400,00
c. Total cash collections are as follows:
January = $200,580
February = $201,360
March = $191,750
Explanation:
a. Compute the sales for November.
Sales for November = (Accounts receivable balance at the end of the previous quarter - Uncollected sales from December) / Collection rate two months after the sale = ($107,000 - $78,100) / 15% = $192,666.67
b. Compute the sales for December.
Sales for December = Uncollected sales from December / (Collection rate one months after the sale + Collection rate two months after the sale) = $78,100 / (10% + 15%) = $312,400,00
c. Compute the cash collections from sales for each month from January through March.
Note: See the attached excel file for the schedule of cash collections from sales for each month from January through March.
From the attached excel file, total cash collections are as follows:
January = $200,580
February = $201,360
March = $191,750
Which regulation helps ensure that employees get pensions and other welfare benefit plans from their employers?
A.
Occupational Safety and Health Act
B.
Workers’ Compensation Program
C.
Fair Labor Standards Act
D.
Employee Benefit Security
D. Employee Benefit Security.
The chart shows the lowest price of the Microsoft stock over the last year and the highest price. If you had purchased the stock at the low point and sold it as the high point, what percent increase (to the nearest whole percent) in the price of the stock would you have experienced
Answer:
The percent increase (to the nearest whole percent) in the price of the stock you would have experienced is 34%.
Explanation:
Note: This question is not complete as the Chart is not included. To complete the question, the chart is therefore provided before answering the question. See the attached image for the chart.
The explanation of the answer is now provided as follows:
From the chart, we can identify the following:
52 week range 55.61 - 74.42
The above implies that:
The low point = 55.61
The high point = 74.42
Therefore, we have:
Percent increase in the price of the stock = ((The high point - The low point) / The low point) * 100 = ((74.42 - 55.61) / 55.61) * 100 = 34%
Therefore, the percent increase (to the nearest whole percent) in the price of the stock you would have experienced is 34%.
For product costs associated with a particular product to be reported on the income statement: Group of answer choices The product must be sold. The product must be transferred to Finished Goods Inventory. The company must expect to sell the product during the next twelve months. The product must still be in Work in Process Inventory. The product may be in any of the manufacturer's inventory accounts.
