Cost of goods sold

quantity demanded of goods and services at a given time. Demand has an inverse relationship as the law of demand states: as price increases, Qd decreases and as prices decreases, Qd increases. The relationship is negative therefore the demand curve is a downward curve with a negative slope. If a carpet costs 10kwd, there is 20Qd. When the prices decreases to 5KWD, Qd increases to 40. When price increases to 15KD, Qd for carpets decreases to 10. Supply is the quantity supplied of goods and…

in a 32oz soft drink. Too much caffeine can cause kids and adults to get headaches, upset stomachs, to have trouble concentrating and focusing, have trouble sleeping, and it can increase heart rates/ blood pressure. Currently, soft drinks are being sold more and more at schools. For example, 16.4 percent of elementary schools, 45 percent of middle schools, and 76.8 high schools have vending machines that sell sugary and caffeinated sodas on their campuses(CDC). Schools are a place to learn not…

Elizabeth L. Cline’s book Overdressed: The Shockingly High Cost of Cheap Fashion unravels the global garment industry, consumerism, and America’s reckless love for cheap and fast fashion. This book is relative to most humans on this earth since most of us wear clothes, and all have to acquire them somewhere. Elizabeth Cline begins with the confession that she too, had once been a naughty and thoughtless consumer. During the summer of 2009, Cline found herself at a Kmart and purchased seven pairs…

Financial Accounting may be defined as the science and art of recording and classifying business transactions and preparing summaries of the same transactions and preparing summaries of the same for determining profit or loss and the financial position of the concern. The object of is to find out the profitability and to provide information about the financial position of the concern. Its purpose is to provide information for others to the value of a company. It is concerned with record –…

investors; it reveals information concerning revenues and expenses that are a result of regular business operations. Medtronic’s total revenue has been steadily increasing in the last three years; it has increased by $821million However, the total cost of revenue increased by $1.04 billion. The non-operating section of the income statement reveals incomes and expenses that are not linked to a company’s normal business activities, such as: the sale of a factory and its equipment (Raiborn, 2010).…

it is very labor intensive, time consuming, and cost prohibited at times. In car restoration there are some challenges that the average person may not think is worth it, specifically finding a car and the time and money involved in restoring it. Locating a project car can be difficult at times and of course there is the cost to acquire the car. It is imperative to have some good outsourced specialty shops available to you. Some things are just too cost prohibited to undertake as a restorer. The…

where a perfectly competitive market exist for intermediate products which makes it optimal for both decision making and performance evaluation to set transfer prices at competitive market prices. A perfectly competitive market exist when products sold are all the same and no individual buyer or seller can affect market prices. Transfer prices are recorded at market prices therefore divisional performance is likely to represent the real economic contribution of the division to total company…

Number of Sellers Very large num¬ber of sellers Single seller Large number of sellers Few Big sellers 2. Nature of Product Products sold by the sellers is identical Product sold by seller is unique and bears no close substitutes Very closely related and good substitutes of each other Products are homo¬geneous under Pure Oligopoly and differentiated under Differentiated Oligopoly 3. Entry and Exit of Firms Firms are free to enter and exit There…

generally accepted objective of joint costs allocation is profit maximization (Hilton et al., 2004; Horngren et al., 2011). The approach adopted by these authors is: 1. List the product combinations that may be obtained from the common process. 2. Estimate the respective selling prices of each product. 3. Estimate the separable costs of to make the products marketable. 4. Determine the product combination with the maximum profit. With the estimation of separable costs, Noreen et al. (2010) point…

zealously by them. This is because 19million Brits visit eBay over a month. Not only that, they also purchase more items per capita than any other place around the globe. • A yacht is known to be the most expensive sold on eBay; in 2006 a 405-foot yacht including a movie theater and a helipad was sold for $168 which obviously surpasses the $4.9 private jet which ranks as the second most expensive. Selling on eBay is not difficult. To sell anything online, first list it and then ship…