Ending finished goods inventory $20,100 Cost of goods sold $145,000.
Schedule of Cost of goods manufactured: To prepare the schedule of cost of goods manufactured for the year, we need to compute the total cost of goods manufactured (COGM) for the year.
The COGM formula is:
COGM = Direct materials used + Direct labor + Manufacturing overhead applied
= 48,500 + 33,500 + 63,000
= $145,000.
So, the schedule of cost of goods manufactured is:
Raw materials inventory:
Beginning $11,100 Add:
Purchases $54,000 Available for use $65,100 Deduct:
Ending $16,600 Direct materials used $48,500
Total direct materials $29,000 Work-in-progress inventory:
Beginning $16,200 Direct materials used $48,500
Direct labor $33,500
Manufacturing overhead $63,000
Total cost of work-in-progress $161,200
Deduct: Ending $13,900
Cost of goods manufactured $147,300
Therefore, the schedule of cost of goods manufactured for the year is $147,300.
Compute cost of goods sold for the year:
Cost of goods sold (COGS) formula is:
COGS = Beginning finished goods inventory + Cost of goods manufactured – Ending finished goods inventory
= $17,800 + $147,300 – $20,100
= $145,000.
Therefore, the cost of goods sold for the year is $145,000.
Answer: 1. Schedule of cost of goods manufactured for the year:
Raw materials inventory:Beginning $11,100
Add: Purchases $54,000 Available for use $65,100 Deduct:
Ending $16,600 Direct materials used $48,500
Total direct materials $29,000 Work-in-progress inventory:
Beginning $16,200 Direct materials used $48,500 Direct labor $33,500
Manufacturing overhead $63,000
Total cost of work-in-progress $161,200
Deduct: Ending $13,900
Cost of goods manufactured $147,300 2.
Cost of goods sold for the year:
Beginning finished goods inventory $17,800
Cost of goods manufactured $147,300
Ending finished goods inventory $20,100 Cost of goods sold $145,000.
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outline any two actions regarded as discriminatory by the labour relations Act (act 66 of 1995)
This Act governs trade unions' organizational rights and promotes and facilitates collective bargaining at the workplace and at the sectoral level. It also addresses strike and lockout situations, workplace forums, and alternative dispute resolution.
What is National Labor Relations Act?The National Labor Relations Act of 1935 is a foundational statute of US labor law that guarantees private sector employees the right to organize into trade unions, engage in collective bargaining, and take collective action such as strikes. The act's centerpiece was a prohibition on company unions. This Act governs trade unions' organizational rights and promotes and facilitates collective bargaining at the workplace and at the sectoral level. It also addresses strike and lockout situations, workplace forums, and alternative dispute resolution. Maintain associational freedom and the effective recognition of the right to collective bargaining maintain the abolition of all forms of forced and compulsory labor maintain the effective abolition of child laborTo learn more about National Labor Relations Act, refer to:
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tucson fruits leased farm equipment from barr machinery on july 1, 2024. the lease was recorded as a sales-type lease. the present value of the lease payments discounted at 10% was $40.5 million. ten annual lease payments of $6 million are due at the beginning of each year beginning july 1, 2024. barr had purchased the equipment for $33 million. what amount of interest revenue from the lease should barr report in its 2024 income statement?
$ 1,725,000 amount of interest revenue from the lease should be reported in its 2024 income statement.
The interest is determined in view of the fair worth of the resource, which for this situation is the current worth of the lease payments.
2024 interest
=10% x ($40,500,000 - $6,000,000) x 6/12.
Lease payments are standard, frequently month to month, charges paid for the option to utilize a property, resource, or piece of gear.
People might go into lease arrangements for land, vehicles, PC hardware, programming, or other fixed assets.
The terms and installment plan for a leased thing or property are much of the time set out in a lawful agreement.
Time tables for lease arrangements might be short. as in month-to-month plans, or long, as is regularly the situation inside land-lease situations, which might have contracts enduring 100 years or more.
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Some social workers work in hospitals.
A. True
B.False
Answer: True
Explanation
Social workers in hospitals for many reasons. They help patients or families cope with emotional and social responses
substance secreted by the liver to emulsify fats
Answer:
bile juice
Explanation:
reckon it's bile juice
What role does credit and debit play in spending strategies?
Answer:
Explanation:
Credit can help build or decrase your credit score which affects things in the future like getting a nice house or car. People with poor spending habits tend to have a low credit score making it harder to get loans too(since the bank wont trust you ). Debit is just a fee you pay making it a bit easier since you dont have a credit score
which is not a type of utilization management? gatekeepers prescription drug review case management pre-admission certification mandatory second surgical opinion
Gatekeepers, prescription drug review, case management, and pre-admission certification are types of utilization management, while mandatory second surgical opinion is not.
Utilization management is a process used by healthcare organizations to ensure the appropriate and efficient use of medical services. It involves various strategies and techniques aimed at controlling healthcare costs while maintaining quality care.
Among the options listed, gatekeepers, prescription drug review, case management, and pre-admission certification are all types of utilization management.
1. Gatekeepers: Gatekeepers are healthcare professionals, typically primary care physicians, who serve as the first point of contact for patients. They play a role in managing and coordinating access to specialty care and other medical services.
Their involvement helps ensure that patients receive necessary and appropriate care while avoiding unnecessary or duplicative services.
2. Prescription drug review: Prescription drug review is a utilization management strategy that involves assessing and managing the use of medications. It includes activities such as formulary management, prior authorization, step therapy, and medication therapy management.
The goal is to optimize medication utilization, promote cost-effective alternatives, and prevent misuse or overuse of drugs.
3. Case management: Case management is a comprehensive approach to coordinating and managing healthcare services for individuals with complex medical conditions.
It involves assessing patients' needs, developing care plans, coordinating services across different providers, and monitoring outcomes. Case management aims to improve patient outcomes, reduce costs, and enhance the overall quality of care.
4. Pre-admission certification: Pre-admission certification, also known as prior authorization, is a utilization management process that requires obtaining approval from a healthcare insurer before a planned medical service or procedure.
It ensures that the proposed treatment is medically necessary and cost-effective, preventing unnecessary procedures and controlling healthcare expenses.
On the other hand, a mandatory second surgical opinion is not a type of utilization management. While it may be a requirement in certain healthcare systems or for specific procedures, it does not fall under the umbrella of utilization management techniques.
Mandatory second surgical opinion is a policy or practice where patients are required to seek an additional opinion from another surgeon before undergoing certain surgeries.
It aims to provide patients with more information and reduce the potential risks associated with surgical interventions, but it is not directly related to the utilization management process.
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definition of trade-offs?
Answer:
Economics is all about tradeoffs. A tradeoff is loosely defined as any situation where making one choice means losing something else, usually forgoing a benefit or opportunity. We experience tradeoffs in zero-sum situations, when a plus in one area must be a negative in anothe
Explanation:
hope its helpful for if yes mark me as brilliant
Entrepreneurial opportunities Group of answer choices are conditions in which new goods or services can satisfy a need in the market. are conditions contrary to a firm"s established strategy and segments served. present risk to the firm and should be avoided. present the potential for a firm to leverage existing products or services into new markets.
Answer:
Option A would be the correct choice.
Explanation:
These would be generally characterized as circumstances where commodities could be offered at that same slightly higher price than certain manufacturing costs. This is indeed a condition in which businessmen will operate to make massive profits.
There seem to be certainly profit-making circumstances:
There have been plenty of companies that are making profits.Even though policymakers described it.Manipulating information asymmetries.Some other options in question aren't relevant to the particular circumstance. And option A is the right one.
the following variable production costs apply to goods made by franklin manufacturing corporation: item cost per unit materials $12.00 labor 4.50 variable overhead 0.75 total $17.25
The variable production costs of Franklin Manufacturing Corporation include materials, labor, and variable overhead. The total cost per unit is $17.25. I hope this explanation helps! If you have any further questions, please feel free to ask.
The variable production costs for goods made by Franklin Manufacturing Corporation are as follows:
- Materials: $12.00 per unit
- Labor: $4.50 per unit
- Variable overhead: $0.75 per unit
- Total: $17.25 per unit
These costs represent the expenses incurred by the company in producing each unit of goods. Let's break down the cost calculation step-by-step:
1. Start with the materials cost of $12.00 per unit.
2. Add the labor cost of $4.50 per unit.
3. Include the variable overhead cost of $0.75 per unit.
4. Summing up these costs gives a total production cost of $17.25 per unit.
To further illustrate, let's consider an example:
If Franklin Manufacturing Corporation produces 100 units of goods, the total production cost would be:
$17.25 * 100 = $1725.
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Where does interest paid to the Fed go?
Interest paid to the Fed goes to the banks on deposits.
What is Interest ?In finance and economics, interest is the payment by the borrower or deposit-taking financial institution to the lender or depositor of an amount in excess of the repayment of the principal at a specified rate. It is different from a fee that a borrower can pay to a lender or a third party.Interest is the price you pay for borrowing money or the cost you charge for lending money. Interest is usually given as an annual percentage of the loan amount.This percentage is called the interest rate on the loan. Interest is the money you borrow when you borrow or receive when you lend. Consumers can earn interest by lending money (such as bonds or certificates of deposit) or by depositing money in interest-bearing bank accounts.to learn more about Interest from the given link :
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Under a contractionary taxation policy, the government can reduce the deficit by
A) increasing taxes.
B) reducing taxes.
C) increasing spending.
D) increasing inflation.
The Answer is A) increasing taxes.
Answer:
c
Explanation:
not sure but I tried may best tho
Answer:
A) increasing taxes.
Explanation:
LBC Corporation makes and sells a product called Product WZ. Each unit of Product WZ requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. Management would like you to prepare a Direct Labor Budget for June. The company plans to sell 28,000 units of Product WZ in June. The finished goods inventories on June 1 and June 30 are budgeted to be 500 and 80 units, respectively. Budgeted direct labor costs for June would be:
Answer:
$2,261,560
Explanation:
Budgeted finished goods inventory (June 1) = beginning = 500 units
Budgeted finished goods inventory (June 30) = ending =80 units
Planned sales (June) = 28,000 units
Direct labor hours = 4.1 per direct labor hour
Direct labor rate = $20 / direct labor rate
June production :
Planned sales + ending inventory - beginning inventory
(28000 + 80 - 500) units
= 27,580 units
Total Direct labor hour required for production :
27,580 × 4.1 = 113,078 labor hours
Cost of production:
Total direct labor hour × rate per hour
113,078 × $20 = $2,261,560
Leora had some money in her wallet. She spent $18.62 buying groceries and had $43.55 left. How much money did she have in her wallet before she bought the groceries?
$24.93
$35.93
$45.41
$62.17
Answer:
D. $62.17
Explanation:
To get to this conclusion you just have to add 18.62 with 43.55 to get 62.17.
Answer:
62.17
Explanation:
you add 18.62 to 43.55 and get 62.17
What is the range of this
data?
7, 2, 5, 1, 3
Answer:
1 and 7
Explanation:
The answer is 6. You have to subtract the smallest number from the biggest number.
Over to you If you were starting up a new company, what product or service would it offer? What would you include in your business plan to try to convince venture capitalists to invest?
I would start a company that offers sustainable and eco-friendly home products. In my business plan, I would emphasize the growing demand for environmentally conscious products.
Highlight the potential market size, showcase the competitive advantage of our sustainable practices, and present a solid financial projection to convince venture capitalists to invest. If I were starting a new company focused on sustainable and eco-friendly home products, I would develop a comprehensive business plan to attract venture capitalists. The plan would include several key components to highlight the potential of the business and persuade investors to support it. Firstly, I would emphasize the increasing demand for environmentally conscious products, backed by market research and consumer trends. I would highlight the potential market size and growth opportunities, demonstrating the long-term viability of the business. Next, I would outline the unique selling proposition of our products, showcasing their sustainability features, superior quality, and innovative design. This would include details about the materials used, manufacturing processes, and the overall environmental impact reduction.
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Homeowners who fail to make mortgage payments can have their house taken away through foreclosure.
A. True
B. False
Answer:
True
Explanation:
Hope this helps
Answer:
a
Explanation:
Which of the following are examples of limited resources on the part of consumers?
product and space
money and product
time and money
space and time
Answer:
The answer is time and money
Explanation:
I took the test on edge
Examples of limited resources on the part of consumers are time and money.
What are limited resources?
Limited resources are resources that can be depleted. They are of limited availability. As these resources are used, they decline.
For example, no one has an unlimited supply of money. As money is spent, the amount of money one has reduces. Also, time is limited. One has 24 hours in a day.
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Janellworked as a manager for 30 years in a leading corporation and now works with the Small Business Administration to help small businesses.Janell provides free consultation and assistance to new entrepreneursand most likely belongs to_______.
a. small-business management consultants
b. venture capitalist companies
c. the Service Corps of Retired Executives
d. angel investors
Since Janell now works with the Small Business Administration in providing consultation and assistance to new entrepreneurs, it is most likely that Janell belongs to: a. small-business management consultants.
Who are Small-Business Management Consultants?Small business consultants, like the name implies, focus on small businesses in terms of providing advice on strategies, developing business and problem solving skills in order to improve their performance.
Thus, since Janell now works with the Small Business Administration in providing consultation and assistance to new entrepreneurs, it is most likely that Janell belongs to: a. small-business management consultants.
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In December 2021, China's Haier purchased America's General Electric Appliance, maker of air conditioners, refrigators, and washers. Haier, a Chinese appliance maker, is located in Qingdao, China, and General Electric is located in Boston, Massachusettes. Consider both Gross Domestic Product (GDP) and Gross National Product (GNP) of the U.S. and China. When General Electric produces and sells new apr-fiances in 2022, U.S. GDP will increase, and China's GNP will increase U.S. GNP will increase, and China's GDP will decrease U.S. GDP will not change, and China's GDP will increase U.S. GNP will increase, and China's GDP will not change
U.S. GDP will increase, and China's GNP will increaseWhen General Electric produces and sells new appliances in 2022, it will contribute to the production and output within the United States.
This increase in production will be reflected in the U.S. Gross Domestic Product (GDP) as it measures the total value of goods and services produced within the country's borders.
On the other hand, since Haier is a Chinese company, the profits it earns from its acquisition of General Electric will be included in China's Gross National Product (GNP). GNP takes into account the income earned by the country's residents, regardless of where they are located.
Therefore, the purchase of General Electric by Haier will result in an increase in both U.S. GDP and China's GNP.
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Corn is used in the production of fuel in the US. Assume that corn and wheat are substitutes in production, also assume that the law of demand and the law of supply apply in each market. If the demand for fuel increases then we should expect (all else held constant) The price of wheat to increase The price of wheat to decrease The price of wheat to remain unaffected
If the demand for fuel increases (all else held constant), we should expect the price of wheat to increase due to the law of supply.
Corn is used in the production of fuel in the US. Assuming that, corn and wheat are substitutes in production, also the law of demand and the law of supply apply in each market. If the demand for fuel increases then we should expect (all else held constant) the price of wheat to increase. As corn and wheat are substitutes in production, an increase in demand for corn would shift the demand curve for wheat to the right, resulting in an increase in price.
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3. ______ are defined as goods or services that are required for health and safety.
Occupational Health and Safety are defined as goods or services that are required for health and safety. Information standards are guidelines governing the information that must be provided to consumers when they purchase specific goods.
What is the safety of goods?A safe product is one that delivers either no risk or a minimum tolerable level of risk, taking into account the product's typical or reasonably foreseeable use and the need to maintain a high level of consumer protection.
Occupational health and safety is a multidisciplinary discipline that deals with all elements of workplace health and safety, with a heavy emphasis on preventing workplace dangers.
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What does the concept of scarcity explain?choose three answers
The concept of scarcity explains:
why consumers are willing to pay high prices for items.why decisions must be made on how to use resourceswhy a single resource has more value than another resource.Scarcity as an economic idea "refers back to the basic reality of lifestyles that there exists most effective a finite quantity of human and nonhuman resources which the first-rate technical expertise is capable of the usage of to provide most effective restricted most amounts of each economic appropriate. shortage in economics refers to whilst the call for for a resource is greater than the deliver of that aid, as assets are limited. shortage consequences in purchasers having to make selections on how high-quality to allocate assets a good way to satisfy all simple needs and as many desires as feasible. shortage refers back to the confined availability of a useful resource in contrast to the infinite desires. shortage may be with appreciate to any natural assets or with admire to any scarce commodity. scarcity can also be called paucity of sources.
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Answer:
why consumers are willing to pay high prices for items.
why decisions must be made on how to use resources
why a single resource has more value than another resource.
Explanation:
why a product could lose significant value over time.
why people continue to purchase different products.
why consumers are willing to pay high prices for items.
why decisions must be made on how to use resources
why resources can be both renewable and nonrenewable.
why a single resource has more value than another resource.
(i took the test)
Let us assume that you have purchased a small business, and that after a few months of ownership you realize that you need to change the corporate culture vis a vis growth. You want to enhance your international presence, but you are not sure how. What steps would you take to build a plan?
To build a plan for enhancing international presence and changing the corporate culture towards growth, consider the following steps:
Assess the current corporate culture: Evaluate the existing culture and identify its strengths and weaknesses.
Set clear growth objectives: Define specific and measurable goals for expanding the business internationally
Conduct market research: Gather market intelligence on potential international markets, including customer needs, competition, cultural nuances, and regulatory requirements.
Develop an internationalization strategy: Based on the market research, devise a strategic plan outlining the entry modes, product/service adaptation, marketing approaches, and operational considerations for international expansion.
Cultivate a global mindset: Encourage employees to embrace a global perspective and foster a culture of openness to new ideas, diversity, and cross-cultural collaboration
Foster cross-cultural communication: Establish effective communication channels and practices that facilitate collaboration among diverse teams and enable the sharing of knowledge and insights across borders.
Build strategic partnerships: Identify potential partners, distributors, or alliances in target markets to leverage local expertise, networks, and resources.
Allocate resources: Allocate appropriate financial, human, and technological resources to support the international expansion efforts.
Monitor and adapt: Continuously monitor the progress of the international expansion and assess the effectiveness of the cultural changes.
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How the business can use creative thinking to solve business problems
Explanation:
Creative thinking helps you to see opportunities in the marketplace or come up with a unique solution to a problem—and isn’t this the cornerstone of any business?
Creativity is key to innovation. When issues come up, you’ll be able to think of ways over, under, or through the roadblocks.
Creativity stimulates the brain and helps us to wake up and pay attention. Noticing more of what’s around us aids in developing novel approaches to help your business stand out.
Creative thinking helps you keep your business presence fresh. You’ll be able to constantly reinvent your business in order to stay in your customers’ awareness.
Creativity helps you shift your perception so you can better understand your customers’ point of view.
Creativity gives you a higher tolerance for risk—you’re used to working through fear of failure.
Creativity improves your leadership skills. Being an effective leader means being creative in your approach and problem-solving. When you have the capacity to let go of the outcome and be open to out-of-the-box thinking, you free your business team up for generating new ideas.
Creativity helps you to broaden your vision of what it means to be successful in your business—what it can offer to the world.
Creativity strengthens your resilience. When those inevitable stressful periods come up, you’re able to bounce back faster instead of getting derailed.
Creativity invites flow and feels good, and when you feel good, you attract your ideal customers and clients.
Can you creatively think of even more ways that creativity can help your business?
MOTIVATION: ENCYCLOPEDIA PROBLEM
Drive, The Surprising Truth About What Motivates Us by Daniel H. Pink
PROBLEM: Imagine its 1995 and you sit down with a Professor of Business.
You tell the Professor ,"I’m going to describe two encyclopedias—one just out and the other to be launched in a few years. You have to predict which one will be more successful .
The first encyclopedia comes from Microsoft, a large, profitable company with a reputation for quality and track record for achieving its business objectives. Microsoft will fund this encyclopedia. It will hire and pay big salaries to the top experts in all areas to make the encyclopedia the most comprehensive and up to date. Highly paid managers will oversee the project to make sure its completed on budget and on time. Then Microsoft will sell it on CD-Roms."
" The second encyclopedia won’t come from a company. It will be created by tens of thousands of people who write and edit articles for fun. These hobbyists won’t need any special qualifications to participate and nobody will be paid a dollar to write or edit any of the articles. Participants will have to contribute their labor 20 to 30 hours a week for free. The encyclopedia itself, which will exist online, will also be free. No charge for anyone who wants to use it. "
ASSIGNMENT: Make believe you are the Professor. What is your answer? Which encyclopedia will be the largest and most popular in the world and which one will be a failure. E mail your answer--give the basis --the reason for your answer.
As a professor of business, my choice to which encyclopedia will be the most successful in the world is the second one. The second encyclopedia will be more successful than the first.
The reason behind this is that the second encyclopedia is going to be created by tens of thousands of people who write and edit articles for fun. These hobbyists don’t need any special qualifications to participate, and nobody will be paid a dollar to write or edit any of the articles. The participants will have to contribute their labor 20 to 30 hours a week for free. The encyclopedia itself will also be free. No charge for anyone who wants to use it.
The second encyclopedia is a Wikipedia model, and Wikipedia has been proven to be the most successful encyclopedia model in the world. It is accessible to everyone globally, and it contains more information than any other encyclopedia. Anyone can access and contribute to it for free, which makes it more comprehensive and up-to-date than any encyclopedia produced by a company.
Additionally, the second encyclopedia model is innovative because it creates a community around the encyclopedia. It engages people with various backgrounds, interests, and knowledge to work on a project collaboratively. Therefore, it will be the largest and most popular in the world.
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how Is productivity determined?
a.by measuring The relationship to inputs and outputs
b. by comparing the profitability of competing markets
c. by measuring the relationship between supply and demand
d. by comparing the number of hours worked by all employees
Answer:
a. by measuring The relationship to inputs and outputs
Explanation:
Productivity shows the efficiency of generating output using the available inputs. It is measured by dividing the output of a company or a production line by the inputs used. Therefore, productivity shows the relationship between inputs and outputs.
Productivity can also be measured by labor output. In this case, the output is divided by the number of labor hours used.
which point represents a profit for both x and y, but the profit for y is larger than the profit for x?
At the break-even point represents a profit for both x and y, but the profit for y is larger than the profit for x.
The break-even point is the point at which a company’s costs equal its revenue. It is a crucial aspect of business as it determines whether a company is making a profit or a loss. The break-even point is calculated by dividing the total fixed costs by the difference between the selling price and the variable cost per unit. Fixed costs are expenses that remain constant regardless of the number of units sold, such as rent, salaries, and insurance.
Once a company reaches its break-even point, any additional sales will result in profit. Companies use the break-even point to determine how many units they need to sell to cover their costs, to set pricing strategies, and to make decisions about production and marketing.
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A capital projects fund for a new city courthouse recorded a receivable of $300,000 for a state grant and a $450,000 transfer from the general fund. What amount should be reported as revenue by the capital projects fund
Answer:
$300,000
Explanation:
The grant of $300,000 happens not to have any restrictions mentioned alongside it in the question and as such will be declared or reported as revenue as an unrestricted grant. This is acceptable by the Governmental Accounting Standards Board, GASB.
Cheers
When something is grown and harvested in the same country it is distributed in, it can be considered what?
capital
international
duties
domestic
Answer:
domestic
Explanation:
In business, domestic refers to the home country of the producer or consumer. The domestic market is the market within the borders of the seller's country. Domestic contrasts with international, which refers to beyond the borders of a country.
Products that are produced and distributed within the country are domestic products. They are often referred to as local products. Domestic goods become exports if sold outside the borders of their country of origin.
The ratio of the age of three peron A, B, C are given a A : B = 1 : 2 and B : C = 1 1/2 : 1. Find A : C. If the age of C i 18 year find the age of A and B
The age of A is 6 years and B is 12 years and ratio of A:C is 1:3
Given that the ratio of A's age to B's age is 1:2, and the ratio of B's age to C's age is 3:2, we can find the ratio of A's age to C's age by finding a common ratio between A and C.
Let's assume that B's age is x years.
Then, A's age is x * 1/2 = x/2 years, and C's age is x * 3/2 = 3x/2 years.
The ratio of A's age to C's age can be calculated as follows:
A : C = x/2 : 3x/2 = 1 : 3
Since C's age is 18 years, we can find the value of x:
x = \(2* \frac{18}{3}\)
= \(2*6\)
= 12
So, A's age is \(\frac{x}{2}\) = \(\frac{12}{2}\) = 6 years, and
B's age is x = 12 years.
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