Fanning Manufacturing Company was started on January 1, Year 1, when it acquired $83,000 cash by issuing common stock. Fanning immediately purchased office furniture and manufacturing equipment costing $7,700 and $27,200, respectively. The office furniture had an eight-year useful life and a zero salvage value. The manufacturing equipment had a $3,500 salvage value and an expected useful life of three years. The company paid $12,000 for salaries of administrative personnel and $15,800 for wages to production personnel. Finally, the company paid $11,940 for raw materials that were used to make inventory. All inventory was started and completed during the year. Fanning completed production on 4,400 units of product and sold 3,480 units at a price of $15 each in Year 1. (Assume that all transactions are cash transactions and that product costs are computed in accordance with GAAP.) Required:
Determine the total product cost and the average cost per unit of the inventory produced in 2018.

Consider how health insurance affects the quantity of health care services performed. suppose that the typical medical procedure has a cost of $160, yet a person with health insurance pays only $40 out of pocket. her insurance company pays the remaining $120. (the insurance company recoups the $120 through premiums, but the premium a person pays does not depend on how many procedures that person chooses to undergo.) consider the following demand curve in the market for medical care. use the black point (plus symbol) to indicate the quantity of procedures demanded if each procedure has a price of $160. then use the grey point (star symbol) to indicate the quantity of procedures demanded if each procedure has a price of $40. q d at p=$160 q d at p=$40 0 10 20 30 40 50 60 70 80 90 100 200 180 160 140 120 100 80 60 40 20 0 price of medical procedures quantity of medical procedures demand if the cost of each procedure to society is truly $160, the quantity that maximizes total surplus is procedures. economists often blame the health insurance system for excessive use of medical care. given your analysis, the use of care might be viewed as excessive because consumers get procedures whose value is than the cost of producing them.

%of the world's population controls approximately % of the world's finances (the sum of gross domestic products)" quizlket

Which of the following tasks would be a line cook's main responsibility? oa. frying french fries ob. chopping onions oc. taking inventory of stocked dry goods od. paying invoices