Billy Baroo Company uses a job order cost system. The following information was found in the Work-in-Process account for the month of July. Date Description Amount [DR. or (CR.)]
July 1 Balance $13,500
July 31 Direct labor 41,000
July 31 Direct materials 58,000
July 31 Factory overhead 32,800
July 31 Transfer to finished goods (86,000 )

Billy Baroo applies overhead to production at a predetermined rate of 80% based on the direct labor cost. Job #23, the lyjob still inprocessattheendofJuly, has been chargedwith direct aboro $12,000 Direct material charged to Job#23 was:

$37,700

Explanation:

Ending balance in WIP = 13,500 + 41,000 + 58,000 + 32,800 - 86,000

Ending balance in WIP = $59,300

Direct material charged to Job #23 = $59,300 - $12,000 - ($12,000*80%)

Direct material charged to Job #23 = $59,300 - $12,000 - $9,600

Direct material charged to Job #23 = $37,700

answer; measurable outcome;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.