Suppose that the California legislature passes a law that severely restricts carbon dioxide emissions from automobiles in that
state. A group of automobile manufacturers files suit against the state of California to prevent the enforcement of the law. The
essentially the same as carbon dioxide emission standards. According to the automobile manufacturers, it is unfair to allow
ralifornia to impose more stringent regulation
automakers claim that a federal law already sets fuel economy standards nationwide and that fuel economy standards are
s than those set by the federal law. Using the information presented in the chapter,
answer the following questions. Are the plaintiffs seeking a legal remedy or an equitable remedy?

Answers

Answer 1

Answer:

The plaintiffs are seeking an equitable remedy.

Explanation:

Legal remedies basically involve monetary compensations, in other words, the non-breaching party (in this case case manufacturers) sue in order to receive money.

While equitable remedies do not involve monetary compensations, instead they seek other types of solutions.


Related Questions


what is an element of management activity in business?​

Answers

PublicityProduction and manufacturing is another element of management. Management involves coordinating employees' actions to achieve the firm's goals, organizing people to work efficiently, and motivating them to achieve the business's goals.

There are 72,922 seats in Lambeau Field where the Green Bay Packers play football. The Packers have sold out their season tickets since 1960. There were about 70,000 people on the waiting list to buy season tickets in 2018. Packers tickets are a normal good. As a result of the economic recession in 2010 during which people's incomes decreased, the:________.
a. demand for Packers tickets decreased.
b. substitution effect changed the quantity demanded.
c. quantity demanded of Packers tickets decreased.
d. demand curve for Packers tickets shifted rightward.

Answers

Answer: quantity demanded of Packers tickets decreased.

Explanation:

First and foremost, we should note that normal goods are the goods that when the income of an individual rises, the individual will buy more and in a case whereby the income reduces, the person will buy less.

Therefore, during recession when people's incomes decreased, the quantity demanded of Packers tickets decreased as well

The Phillips Curve is a graphical depiction of the

Select one:
a.
negative relationship between inflation and unemployment.
b.
positive relationship between inflation and output.
C.
negative relationship between unemployment and output
d.
negative relationship between inflation and the CPI

= negative relationship between inflation and unemployment.​

Answers

Answer:

= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.

Explanation:

= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.= negative relationship between inflation and unemployment.

A new machine comes with 200 free service hours over the first year. Additional time costs $180 per hour. What are the average and marginal costs per hour for the following quantities?
a) 125.
b) 225.
c) 325.

Answers

Answer:

a) 0, 0

b) 180 per hour, 20per hour

c) 180 per hour , 69.2 per hour

Explanation:

We are to calculate the average and marginal costs per hour of the given value above

a) Given Number of hours is 125, but we are told that the new machine comes with 200 free service hours over the first year. Then MARGINAL COST= 0 because the service can be equal to 200hours and the given 125 hours is less than that.

then AVERAGE COST = ZERO

(b) we are Given 225 number of hours

Additional time costs is given as $180 per hour.

Then we have $180 per hour as MARGINAL COST.

Total cost can be calculated as

= [$180 × (225 - 200)]

=[ $180 ×25] = $4,500

Average cost can be calculated as

ratio of Total cost to Number of hours i.e $4,500/225

= 20per hour

C)we are Given 325 number of hours

Additional time costs is given as $180 per hour.

Then we have $180 per hour as MARGINAL COST.

Total cost can be calculated as

= [$180 × (235 - 200)]

=[ $180 ×125] = $22,500

Average cost can be calculated as

ratio of Total cost to Number of hours i.e $22,500/325

= 69.2per hour

Sid Summitt is the stockholder and operator of Our Idol LLC, a motivational consulting business. At the end of its accounting period, December 31, 2017, Our Idol has assets of $502,000 and liabilities of $120,000. Using the accounting equation, determine the following amounts:______.
a. Stockholders' equity as of December 31, 2017.
$
b. Stockholders' equity as of December 31, 2018, assuming that assets decreased by $117,000 and liabilities decreased by $36,000 during 2018.
$

Answers

Answer:

a. Stockholder's equity as of December 31,2017 = Assets - Liabilities

= $502,000 - $120,000

= $382,000

b. Stockholder's equity as of December 31,2018 = $382,000-($117000 - $36000) = $229,000

You have the following information
Salam $1,000
Net profit margin= 5%.
Calculate Net Income

Answers

Answer:

$50

Explanation:

Net income will be the difference between the selling price and the Cost price.

Cost price is $1000

net profit margin is 5%, selling price will be

=$1000 + profit margin

= $1000 + (5/100 x 1000)

=$1000 + $50

=$1050

Net income = $1050 -$50

=$50

How are bonds a safer investment than stock?

A. Bonds are safer because they are loans with a guaranteed interest rate for return

B. Bonds are sager because they are paid with with taxes

C bonds are safer because they are paid by the stock market

D bonds are safer cause they qre assets with gauranteed return from the government


Can be mutiple answers​

Answers

Answer: D and B

Explanation:

The stock market is where you invest where you want to and hope the money will grow bigger by the company growing bigger. Bonds are you paying a certain amount of money and the government will pay back a little back at a time so if the government doesn't pay which is very unlikely is the reason why bonds are safer.

there’s 15 questions and this is 5.

Answers

I believe the answer is preparing a list of vegetables to purchase. That’s the only option that makes sense with his job.

Paragraphs in a business email should be 20 to 40 words long. True False

Answers

The answer would be false

Question 2 (1 point)
Joanna studied medicine in college but graduated with a bachelor's degree in
business administration. Which company might be interested in hiring Joanna?
O A pharmacy chain looking for a traveling pharmacist
A nursing home in need of orderlies
A large pediatric practice looking for an office manager
A hospital in need of nurses.




{please help me it’s due today}

Answers

Answer:

A large pediatric practice looking for an office manager

Explanation:

An office manager requires management and administrations skill to discharge their duties effectively. When working in a hospital, a medical background is critical.

A bachelor's degree in business administration prepares students to be good managers. A large pediatric practice looking for an office manager will need a business administration degree holder's skills. Since Joanna studied medicine and business administration, she should be the ideal person to work as an office manager at the pediatric center.

Ben invest $10,000 at a rate of interest of 5 percent for 40 years. Which of the following statements about the return on the investment is true?

Answers

Answer:

a. ​Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.

Multiple choice options

a. ​Ben will receive a significant amount at the end of the investment period, due to the feature of compounding.

b. ​Ben will receive no interest on his investment at the end of the investment period.

c. ​Ben will receive an interest of $5,000 at the end of ten years.

d. ​Ben will receive more money at 3 percent rate of interest instead of the existing rate.

e. ​Ben will receive more money at the end of 30 years compared to the money received at the end of 40 years.

Explanation:

Ben will be earning 5% of his investment of $10,000 every year for 40 years.

At the end of every year, the 5% earned will be added to $10,000. It means the principal and interest will increase at the end of every year. After 40 years, Ben will receive a huge amount, as indicated below.

The formula is A= p x ( 1 x r)^n

A = $10,000 x ( 1+0.05)^40

A = $10,000 x (1.05)^40

A= $10,000 x 7.039988

A= 70,399.88

A=$70,400

Ben invest $10,000 but will receive $70,400 after 40 years

There are hundreds of high school students in need of algebra tutoring services. Dozens of companies offer tutoring services, and they view the quality of the tutoring at the different companies to be largely the same.
Number of Firms (few, one, or many)
Types of product(differentiated, unique, anything, or standardized)
Entry (challenging, impossible, or easy)
Market model (perfect competition, monopoly, monopolistic competition, or oligopoly)

Answers

Answer:

Number of firms: many. There are dozens of companies offering tutoring services, so we can safely say that the number of firms in this market is many.

Types of product: standardized. Consumers of this market, who are the students, view the quality of all algebra tutoring companies as being essentially the same.

Entry: easy. The only requirement to enter this market is to be able to teach algebra, so as long as a person knows algebra, this person would in theory be able to enter the market.

Market model: perfect competition. The market of algebra tutoring services in this case is closest to perfect competition. Both buyers and sellers are plenty, so neither can excercise market power. The product offered is standardized, which means that each firm's tutoring service is a perfect substitute for the tutoring services of the other firms. Finally, barriers of entry and exit are almost non-existant.

Do you think people tailor their behavior to suit those in power more than they admit?

Answers

Answer:

yes, of course they do

Explanation:

people will always tailor their behavior wether it's against them or for them, depending on how they feel they will act a certain way

Regardless of whether something is working in their favor or against them, people will always adjust their conduct to suit their feelings.

People tailor their behavior to suit those in power more than they admit?

I concur that most people behave differently in front of influential people. They modify their actions to suit those in positions of authority. In front of influential individuals, they also refuse to acknowledge the full amount of their subordination.

From a different angle, we must recognize that those in positions of authority do so for a cause. They are required to keep society working properly and in order. Because our supervisors have coercive power over us in addition to their position, we typically perform tasks at work according to their requirements and in their preferred style.

Therefore, If we don't change our conduct to fit their needs, we risk losing our jobs. In other cases, something else that we see as being important to us might take the place of the work. The source is driven into submission or obedience by the fear of losing that "Something."

Learn more about power admit here

https://brainly.com/question/4927262

# SPJ 2

CHECKPOINT QUESTION
Which of the following statements about gossip in the organization is TRUE?
Only small amounts of information are carried on the grapevine of workplace
gossip.
Employees rely on each other for important information more than they rely on
their bosses.
Managers are excluded from using the grapevine to communicate or respond to
messages.
The grapevine can be used to prevent individual agendas and potential
miscommunications.

Answers

Answer:

Only small amounts of information are carried on the grapevine of workplace

gossip.

Explanation:

Grapevine is referred to as the circulation of unofficial information and rumors. Most of the communications in an organization is carried out through grapevine. It is informal communication of messages and information and also gossips in an organization. The grapevine communications carries more of accurate information than gossips. Only a small portion of the information consists of gossips in the functional grapevine.

. Explain the puropose of the project charter ? Explain 3 tools and techniques that can be used to develop it

Answers

Answer:

It provides a preliminary delineation of roles and responsibilities, outlines the project's key goals, identifies the main stakeholders, and defines the authority of the project manager. A project charter should: Contain the essence of the project. Provide a shared understanding of the project

Explanation:

Develop a Project Charter - Tools and Techniques

Expert Judgment: A crucial step in executing the project by taking opinions from subject matter experts, garnering valuable inputs and understanding the business case complexity related to the project. ...

Data Gathering. ...

Interpersonal and Team Skills. ...

Meetings.

Entries for Issuing Bonds and Amortizing Premium by Straight-Line Method Smiley Corporation wholesales repair products to equipment manufacturers. On April 1, Year 1, Smiley Corporation issued $20,000,000 of five-year, 9% bonds at a market (effective) interest rate of 8%, receiving cash of $20,811,010. Interest is payable semiannually on April 1 and October 1.
a. Journalize the entry to record the issuance of bonds on April 1, Year 1. For a compound transaction, if an amount box does not require an entry, leave it blank.
b. Journalize the entry to record the first interest payment on October 1, Year 1, and amortization of bond premium for six months, using the straight-line method. (Round to the nearest dollar.) For a compound transaction, if an amount box does not require an entry, leave it blank.
c. Why was the company able to issue the bonds for $20,811,010 rather than for the face amount of $20,000,000?
The market rate of interest is the contract rate of interest.

Answers

Answer:

a.  Journal Entry                   Debit                Credit

    Cash                            $20,811,010

          Bonds Payable                               $20,000,000

          Premium on Bonds Payable          $811,010

     (To record the issuance of bonds on April 1)

b.   Journal Entry                             Debit         Credit

     Interest expense                     $818,899

     Premium on Bonds payable   $81,101

     (811,010/5 * 6/12)

             Cash                                                    $900,000

      (To record the first interest payment on October 1,

       Year 1, and amortization of bond premium)

c. Company can issue at price 20,811,010 instead of 20,000,000 because coupon rate of company is higher than the effective rate of interest so company is able to issue the bonds have been issued at a premium.

Balance sheet and income statement data indicate the following:
$842,000
Bonds payable, 10% (due in two years)
Preferred 5% stock, $100 par (no change during year)
Common stock, $50 par (no change during year)
220,000
1,672,000
376,000
Income before income tax for year
Income tax for year
89,000
Common dividends paid
Preferred dividends paid
83,600
11,000
Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)?
Oa. 7.9
Ob. 4.5
Oc. 3.5
Od. 5.5

Answers

Answer:

The correct option is d. 5.5.

Explanation:

Note: This question is not properly arranged. It is therefore rearranged before answering the question as follows:

Balance sheet and income statement data indicate the following:

Bonds payable, 10% (due in two years)                              $842,000

Preferred 5% stock, $100 par (no change during year)       220,000

Common stock, $50 par (no change during year)             1,672,000

Income before income tax for year                                       376,000

Income tax for year                                                                  89,000

Common dividends paid                                                         83,600

Preferred dividends paid                                                          11,000

Based on the data presented, what is the times interest earned ratio (rounded to one decimal place)?

Oa. 7.9

Ob. 4.5

Oc. 3.5

Od. 5.5

The explanation of the answer is now given as follows:

The times interest earned ratio can be calculated using the following formula:

Times interest earned ratio = EBIT / Interest expenses ................ (1)

Where;

Interest expenses = Bonds payable * 10% = $842,000 * 10% = $84,200

EBIT = Earnings before interest and taxes = Income before income tax for year + Interest expenses = $376,000 + $84,200 = $460,200

Substituting the values into equation (1), we have:

Times interest earned ratio = $460,200 / $84,200 = 5.46555819477435

Rounded to one decimal place, we have:

Times interest earned ratio = 5.5

Therefore, the correct option is d. 5.5.

what are the similarities between scientific theory and bureaucratic theory?

Answers

Answer:

The Scientific Theory is based on using data and human strengths to increase output, while the Bureaucratic management style focuses on hierarchies and tight job roles. Regardless of the organization, the goals remain the same across the board. Every organization strives to minimize costs, while maximizing output.

What is a positive and what is a normative statement?

Answers

Answer:

normative statement: conclusions based on value judgments that cannot be tested

positive statement: conclusions based on logic and evidence that can be tested.

Hope that helps

Have a good day

This question tests your understanding of the economics of a commodity tax. Assume that in each case the demand curve slopes down from top left to bottom right and the supply curve slopes up from bottom left to top right If the government halved a commodity tax, what would not always follow?
a. The quantity traded would increase
b. The price exclusive of commodity tax that sellers receive would rise.
c. The price inclusive of commodity tax that buyers pay would fall.
d. Tax revenue would increase.

Answers

Answer:

d. Tax revenue would increase.

Explanation:

When government halved commodity tax so they divided into two parts so it is use full them to manage it separately in two different parts. So when government needs more revenue they tax some commodity on their trade. So now government collects different taxes from different parties so their tax revenue increases by that decision.

Imagine that a new technology is invented that makes it very cheap to produce highly efficient solar panels that can be put on cars stuff. Give the effect in the following markets.
a. price of solar panels
b. quantity of solar panels
c. price of oil
d. quantity of oil
e. price of tires
f. quantity of tires

Answers

Answer

Quantity of solar panels increase , Price of solar panels decrease

Quantity of tires increase, Price of tires increase

Quantity of oil decrease, Price of oil decrease

Explanation:

Supply is directly related to technological upgradation.

So, technical upgrade will increase ie rightwards shift the supply curve. Hence, quantity of solar panels will increase.

Increase in supply will create competition among sellers, so the price of solar panels will decrease

Tires are complementary goods to car solar panels. Price & quantity of complements are inversely related. Lower priced solar panels imply higher demand quantity of tires. Increase & rightwards shift in demand implies competition among buyers & tires' price increase.

Oil is a substitute good to solar panels. Price & quantity of substitutes is directly related. Lower priced solar panels imply lower oil demand quantity. Decrease & leftwards shift in demand curve implies excess supply & competition among sellers, so price of tires decrease.

On Monday, all company employees report being unable to connect to the corporate wireless network, which uses 802.1x with PEAP. A technician verifies that no configuration changes were made to the wireless network and its supporting infrastructure, and that there are no outages.
Which of the following is the MOST likely cause for this issue?
A. Too many incorrect authentication attempts have caused users to be temporarily disabled.
B. The DNS server is overwhelmed with connections and is unable to respond to queries.
C. The company IDS detected a wireless attack and disabled the wireless network.
D. The Remote Authentication Dial-In User Service server certificate has expired.

Answers

Answer:

D. The Remote Authentication Dial-In User Service server certificate has expired.

Explanation:

In the case when the employees report that the internet is not connected to the network also the technician verifies that there is no configuration changes made for the same so the most likely cause would be that the remote authentication i.e. the certificate of the dial in user server would have been expired

Therefore as per the given scenario, the last option is right

For Sunland Co., beginning capital balances on January 1, 2020, are Nancy Payne $18,900 and Ann Dody $24,000. During the year, drawings were Payne $8,700 and Dody $5,200. Net income was $28,700, and the partners share income equally.
Show the partners' capital statement for the year and show the owners' equity section of the balance sheet at December 31, 2020.

Answers

Answer and Explanation:

The preparation of the partner capital statement and the owner equity section is presented below:

Partner capital statement

Particulars           N. Payne        Ann Dody         Total

Beginning

balance                $18,900          $24,000           $42,900

Less: Drawings    -$8,700         -$5,200            -$13,900

Balance left           $10,200       $18,800              $29,000

Add: Net income

share 50% 50%     $14,350       $14,350             $28,700

ending balance       $24,550    $33,150             $57,700

Now the balance sheet is

Sunland Co,

Partial balance sheet

Dec 31,2020

Owner capital

Partner capital balance    $29,000

Add: Net income              $28,700

Total owner equity            $57,700

Mr. Dorji is not working currently
because his skills are not relevant for the jobs available in the market. What category of unemployment would Dorji fall in?

Select one:
a. Cyclical Unemployment
b. Structural Unemployment
c. Seasonal unemployment
d. Frictional Unemployment

= Structural Unemployment​

Answers

Answer:

b. Structural Unemployment

Explanation:

Structural unemployment exists due to a mismatch between jobseeker's skills and the currently available jobs in the market. This implies that the market has available job opportunities, but the current labor force may require retraining to take up the jobs effectively.

Advancements in technology may cause structural unemployment. In recent years, robots have been replacing unskilled workers. It means these workers must acquire skills through training to have a chance of getting hired elsewhere.

When consumers study consumer behavior, they should come to make better decisions. Which of the following can be helpful in enlightening consumers?
A) Consequences associated with poor budget allocation.
B) The role of emotions in consumer decision making.
C) Avenues for seeking redress for unsatisfactory purchases.
D) The effect of the environment on consumer behavior.
E) All of the above.

Answers

Answer: E) All of the above.

Explanation:

All the topics listed above can be helpful in enlightening consumers. They need to know what happens when they make poor budgeting decisions so that they can avoid it. They also need to understand the emotions involved in consumer making so that they can avoid making emotional decisions if need be.

They need to know that they can as well as where they can report purchases that were unsatisfactory and they need to understand that the environment can influence consumer behaviour so that they can make wiser decisions.

Stock Y has a beta of 1.3 and an expected return of 15.3 percent. Stock Z has a beta of 0.70 and an expected return of 9.3 percent. If the risk-free rate is 5.5 percent and the market risk premium is 6.8 percent, the reward-to-risk ratios for stocks Y and Z are and percent, respectively. Since the SML reward-to-risk is percent, Stock Y is (Click to select) and Stock Z is:_______ . (Round your answers to 2 decimal places. (e.g., 32.16))

Answers

Answer:

Reward-to-risk ratio Y =7.54%

Reward-to-risk ratio Z = 5.43%

Since the SML reward-to-risk is 6.8%

Stock Y is Undervalued

Stock Z Overvalued

Explanation:

Calculation for the reward-to-risk ratios for stocks Y is 7.54% and Z is 5.43% respectively.

Reward-to-risk ratio Y = (15.3%-5.5%)/1.3

Reward-to-risk ratio Y =7.54%

Reward-to-risk ratio Z = (9.3%-5.5%)/0.7 =

Reward-to-risk ratio Z = 5.43%

Therefore the reward-to-risk ratios for stocks Y and Z are and percent, respectively

Since the SML reward-to-risk is 6.8%

Stock Y is undervalued while Stock Stock Z on the other hand is overvalued reason been that

Reward-to-risk ratio Y is high while the Reward-to-risk ratio is low .

Which of the following answer options are your employer's responsibility? (OSHA)
(A) Develop a written hazard communication program
(B) Implement a hazard communication program
(C) Maintain a written hazard communication program

Answers

Answer: A, B, and C. ALL OF THE ABOVE!

Explanation:

They're all the correct answer.

An employer's OSHA responsibility with regard to a hazard communication program is (C) Maintain a written hazard communication program.

OSHA's HCS, 29 CFR 1910.1200 (e) specifically requires the employer to maintain a written hazard communication.

This written program includes maintenance of labels and other warning forms, safety data sheets.

It is also required that the employer should provide safety information and training, especially for its employees.

Thus, the responsibility of the employer is not to develop or implement a hazard communication program but to maintain a written hazard communication program.

Read more about employer's OSHA responsibilities at https://brainly.com/question/5337593

What are the factors that affect individual productivity?

Answers

Answer:

The factors that affect individual productivity is described below in details.

Explanation:

Important Factors Influencing Employee Productivity:

Work Environment: An employee’s work conditions affect their attitude, energy, and overall production in your organization. Processes: Processes, or their inadequacy, has a tremendous influence on organizational potency.Goals: Clearly illustrated work goals are great for boosting potency levels because they’re dimensions of productivity themselves.

A stock sells for $10 per share. You purchase 100 shares for $10 a share (i.e., for $1,000), and after a year the price rises to $17.50. What will be the percentage return on your investment if you bought the stock on margin and the margin requirement was
(a) 25 percent,
(b) 50 percent, and
(c) 75 percent? (Ignore commissions, dividends, and interest expense.)

Answers

Answer and Explanation:

The computation is shown below;

a. Rate of return

= (Selling price - purchase price) ÷ (purchase price × margin)

= ($17.50 - $10) ÷ ($10 × 25%)

= $7.50 ÷ 2.50

= 300%

b. Rate of return

= (Selling price - purchase price) ÷ (purchase price × margin)

= ($17.50 - $10) ÷ ($10 × 50%)

= $7.50 ÷ 5

= 150%

c. Rate of return

= (Selling price - purchase price) ÷ (purchase price × margin)

= ($17.50 - $10) ÷ ($10 × 75%)

= $7.50 ÷ 7.50

= 100%

The following information is available for Robstown Corporation for 20Y8:
Inventories January 1 December 31
Materials $44,250 $31,700
Work in process 63,900 80,000
Finished goods 101,200 99,800
December 31
Advertising expense $ 400,000
Depreciation expense-office equipment 30,000
Depreciation expense-factory equipment 80,000
Direct labor 1,100,000
Heat, light, and power-factory 53,300
Indirect labor 115,000
Materials purchased 556,600
Office salaries expense 318,000
Property taxes-factory 40,000
Property taxes-office building 25,000
Rent expense-factory 27,000
Sales 3,850,000
Sales salaries expense 200,000
Supplies-factory 9,500
Miscellaneous costs-factory 11,400
Required:
A. Prepare the 20Y8 statement of cost of goods manufactured.*
B. Prepare the 20Y8 income statement.*
* Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" will automatically appear if it is required. Enter all amounts as positive numbers. Be sure to complete the statement heading.

Answers

Answer:

A. Statement of cost of goods manufactured for the year ended 20Y8

Beginning Work In Process                                                               $63,900

Add Manufacturing Costs :

Materials ($44,250 + $556,600 - $31,700)          $569,150

Depreciation expense-factory equipment            $80,000

Direct labor                                                          $1,100,000

Heat, light, and power-factory                               $53,300

Indirect labor                                                          $115,000

Property taxes-factory                                           $40,000

Rent expense-factory                                             $27,000

Supplies-factory                                                       $9,500

Miscellaneous costs-factory                                    $11,400      

                                                                                                       $2,005,300

Less Ending Work In Process                                                          ($80,000)

Cost of Goods Manufactured                                                        $1,989,250

B. Income statement for the year ended 20Y8

Sales                                                                                             $3,850,000

Less Cost of Goods Sold

Opening Finished Goods                                     $101,200

Add Cost of Goods Manufactured                   $1,989,250

Less Ending Finished Goods                              ($99,800)      ($1,990,650)

Gross Profit                                                                                   $1,859,350

Less Operating Expenses

Advertising expense                                          $400,000

Depreciation expense-office equipment            $30,000

Office salaries expense                                      $318,000

Property taxes-office building                             $25,000

Sales salaries expense                                      $200,000        ($973,000)

Net Income                                                                                   $886,350

Explanation:

Part A

Statement of cost of goods manufactured is a summary of the cost incurred in the manufacturing process.

Cost of Goods Manufactured = Opening Work In Process + Total Manufacturing Costs - Closing Work In Process

Part B

Income Statement shows the profit earned during the reporting period

Profit = Gross Profit (Sales - Cost of Goods Sold) - Operating Expenses

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