Answers
Answer:
more
Explanation:
As the economy increases, the need for property rights also increases, it's pretty widely accepted that property rights provide incentives to participate in the market.
Related Questions
The basic economic questions that any provider of goods must ask are:
• What will be produced?
• Who will produce it?
• For whom will it be produced?
In which type of economy are these decisions made solely by the
government?
A. Mixed
B. Free
C. Command
D. Traditional
Answers
Answer:
C. Command
Explanation:
In a command economy, the government owns and controls all the factors of production. All the factors of production are owned and controlled by the government. The government does all the productions through its agencies.
The government prepares central economic plans that guide the country's economic activities. The central plans indicate what goods and services will be produced, their quantities, and prices. The plans also dictate how distributions will be done in the country.
Johnson Company calculates its allowance for uncollectible accounts as 10% of its ending balance in gross accounts receivable. The allowance for uncollectible acccounts had a credit balance of $10,000 at the beginning of 2021. No previously written-off accounts receivable were reinstated during 2021. At 12/31/2021, gross accounts receivable totaled $166,700, and prior to recording the adjusting entry to recognize bad debts expense for 2021, the allowance for uncollectible accounts had a debit balance of 18,300.
Required:
1. What was the balance in gross accounts receivable as of 12/31/2020?
2. What journal entry should Johnson record to recognize bad debt expense for 2021?
3. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021. Determine the amount of accounts receivable written off during 2021
4. If Johnson instead used the direct write-off method, what would bad debt expense be for 2021?
Required 3 Required 1 Required 2 Required 4
What was the balance in gross accounts receivable as of 12/31/2020? Balance in gross accounts receivable
Record entry Clear entry View general journal .. Assume Johnson made no other adjustment of the allowance for uncollectible accounts during 2021.
Determine the amount of accounts receivable written off during 2021. Amount of accounts receivable written off Required 2 Required 4 If Johnson instead used the direct write-off method, what would bad debt expense be for 20211? Bad debt expense for 2021
Answers
Answer:
1. $100,000
2. 2021
Dr Bad debt expense $34,970
Cr Allowance for uncollectible account $34,970
3. $28,300
4. $28,300
Explanation:
1. Calculation for What was the balance in gross accounts receivable as of 12/31/2020
Balance in gross accounts receivable as of 12/31/2020=$10,000/ 10%
Balance in gross accounts receivable as of 12/31/2020 = $100,000
Therefore the balance in gross accounts receivable as of 12/31/2020 will be $100,000
2. Preparation of the journal entry that Johnson should record to recognize bad debt expense for 2021
2021
Dr Bad debt expense $34,970
Cr Allowance for uncollectible account $34,970
(10%*$166,700 + $18,300)
3. Calculation to Determine the amount of accounts receivable written off during 2021
2021 Accounts receivable written off = $10,000 - (-$18,300)
2021 Accounts receivable written off= $28,300
Therefore the amount of accounts receivable written off during 2021 will be $28,300
4. In a situation where Johnson used the direct write-off method, what would bad debt expense be for 2021 will be $28,300 calculated as : [$10,000 - (-$18,300) ]
=$28,300
Therefore the Bad debt expense under direct write off method will be $28,300
Solving for dominant strategies and the Nash equilibrium
*Fill in the blanks please :) *
Suppose Paolo and Sharon are playing a game in which both must simultaneously choose the action Left or Right. The payoff matrix that follows shows the payoff each person will earn as a function of both of their choices. For example, the lower-right cell shows that if Paolo chooses Right and Sharon chooses Right, Paolo will receive a payoff of 5 and Sharon will receive a payoff of 4.
The only dominant strategy in this game is for _________ to choose __________.
The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses __________ and Sharon chooses _______.
Answers
Question Completion:
Matrix payoff:
Sharon
Left Right
Paolo Left 8, 3 4, 4
Right 5, 3 5, 4
Answer:
The only dominant strategy in this game is for ___Paolo______ to choose ____Right______.
The outcome reflecting the unique Nash equilibrium in this game is as follows: Paolo chooses ____Right______ and Sharon chooses __ Right_____.
Explanation:
a) Paolo's dominant strategy is the strategy that always provides the greater utility to Paolo, no matter what Sharon's strategy is. In this case, the dominant strategy for Paolo is to choose RIGHT always.
b) The Nash Equilibrium concept determines the optimal solution in a non-cooperative game in which each player (e.g. Paolo and Sharon) lacks any incentive to change their initial strategies. This implies that each player can achieve their desired outcomes by not deviating from their initial strategies since each player's strategy is optimal when considering the decisions of the other player.
Imprudential, Inc., has an unfunded pension liability of $573 million that must be paid in 20 years. To assess the value of the firm’s stock, financial analysts want to discount this liability back to the present. If the relevant discount rate is 6.6 percent, what is the present value of this liability?
Answers
Answer:
$159.59 million
Explanation:
The present value of the liability is the future value of the obligation which in this case is $573 million discounted at the 6.6% appropriate discount chosen by the analyst as shown below:
PV=FV/(1+r)^n
PV=the present value of the obligation=the unknown
FV=$573 million
r=discount rate=6.6%
n=number of years before the liability becomes due=20
PV=$573 million/(1+6.6%)^20
PV=$573 million/1.066^20
PV=$573 million/3.590410405
PV=$159.59 million
Lincoln Company purchased merchandise from Grandville Corp. on September 30, 2021. Payment was made in the form of a noninterest-bearing note requiring Lincoln to make six annual payments of $4,400 on each September 30, beginning on September 30, 2024. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Round your final answer to nearest whole dollar amount.) Required: Calculate the amount at which Lincoln should record the note payable and corresponding purchases on September 30, 2021, assuming that an interest rate of 9% properly reflects the time value of money in this situation.
Answers
Answer: $16,613
Explanation:
As the noninterest-bearing note required Lincoln to make six annual payments of $4,400, this is an annuity because it is a constant figure.
The amount that should be recorded is the present value of this amount.
Present value of annuity = Annuity * ( 1 - ( 1 + rate) ^ -no. of periods) / rate
= 4,400 * ( 1 - ( 1 + 9%)⁻⁶) / 9%
= $19,738
This present value is for September 30, 2023. It needs to be discounted further to September 30, 2021.
= 19,738 / (1 + 9%)²
= $16,613
Under absorption costing, which of the following costs would not be included in finished goods inventory?
Oa. variable and fixed factory overhead cost
Ob. variable and fixed selling and administrative expenses
Oc. direct labor cost
Od. direct materials cost
Answers
Answer: variable and fixed factory overhead cost
Explanation:
Beth, an employer, wants to hire someone for a strenuous job that requires a great deal of training, which will take place over the course of several years. The applicant who appears most qualified is 58 years old; however, Beth is concerned that the applicant will not be able to handle the physical demands of the position in the long run. Further, she is concerned that the applicant will only continue working for several more years before she retires. Does Beth hire the applicant anyway
Answers
Answer:
Beth should not hire the applicant.
Explanation:
Based on common hiring practices, Beth should not hire the applicant. Mainly due to the applicant's age. It costs a company a large amount of money to properly train an employee in order to have them be as efficient as possible when working for the company. This is regardless of their current experience, therefore if a candidate is as old as this particular candidate and is already thinking of retiring then it will be a waste of company resources to hire the individual candidate. Instead, Beth should go for someone with the same experience/skills but will instead be with the company for the long term.
Nigel belongs to a wealthy family. He has always enjoyed trying out new gadgets and devices that are launched in the market. Since he is financially well-off, he likes to experiment with expensive products and is comfortable with the risks and uncertainties associated with these products. Based on this description, Nigel most likely belongs to the group of:
Answers
Incomplete question. The Options;
a. Candidates for elected office
b. Early majority
c. Technology diffusers
d. Innovators
Answer:
b. Early majority
Explanation:
Recall we are told that Nigel loves trying new tech and is "financially well-off", so he falls under the category of those who are termed early majority who quickly try/adopt new technologies.
Also, the early majority are usually "comfortable with the risks and uncertainties associated with" new tech products, thus they are less worried about not deriving value for their money.
On the first day of January, Harris Company borrowed $3,000 on a one-year note payable bearing interest at 5% per year. The note specifies that principal and interest must be paid in full at the end of the one-year period. On June 30, the adjusted trial balance will show Interest Payable of
Answers
Answer: $75 Credit
Explanation:
Based on the information given in the question, there will be a debit of interest expense and also a credit of interest payable. This will be in the amount of:
= $3000 × 5% × 6/12
= $3000 × 0.05 × 0.5
= $75
Debit: Interest expense $75
Credit: Interest expense $75
The answer is $75 credit.
The cash account shows a balance of $85,000 before reconciliation. The bank statement does not include a deposit of $4,600 made on the last day of the month. The bank statement shows a collection by the bank of $1,880 and a customer's check for $640 was returned because it was NSF. A customer's check for $900 was recorded on the books as $1,080, and a check written for $158 was recorded as $194. The correct balance in the cash account was
Answers
Answer:
$86,024
Explanation:
The computation of the corrected balance in the cash account is as follows:
Unadjusted cash balance $85,000
Add: Collection by bank $1,880
Less: NSF Check -$640
Less: Error in recording customers check ($1,080 - $900) -$180
Add: Error in recording check ($194 - $158) -$36
Adjusted cash balance $86,024
A company that makes shopping carts for supermarkets and other stores recently purchased some new equipment that reduces the labor content of the jobs needed to produce the shopping carts. Prior to buying the new equipment, the company used 6 workers, who together produced an average of 100 carts per hour. Workers receive $11 per hour, and machine cost was $40 per hour. With the new equipment, it was possible to transfer one of the workers to another department, and equipment cost increased by $12 per hour, while output increased by 4 carts per hour. a. Compute labor productivity under each system. Use carts per worker per hour as the measure of labor productivity. (Round your answers to 3 decimal places.)
Answers
Answer:
A. Labor productivity before=16 cart per workers-hour
Labor productivity After=26 cart per workers-hour
B. Multifactor productivity Before=0.94 carts per hour
Multifactor productivity before=0.94 carts per hour
Explanation:
A. Computation of labor productivity under each system
Labor productivity Before=100 carts per hour/6 workers
Labor productivity Before=16 cart per workers-hour
Labor productivity After=(100 carts per hour+4 carts per hour)/4 workers
Labor productivity After=(104carts per hour /4 workers
Labor productivity After=26 cart per workers-hour
B. Computation of the multifactor productivity under each system.
Multifactor productivity Before=100 carts per hour/(6 workers*$11 per hour)+$40 per hour
Multifactor productivity Before=100 carts per hour/($66 per hour+$40 per hour)
Multifactor productivity Before=100 carts per hour/$106 per hour
Multifactor productivity Before=0.94 carts per hour
Multifactor productivity before=(100carts per hour + 4carts per hour)/(4 workers * $11 per hour$)+($40 per hour+12 per hour)
Multifactor productivity before=(104carts per hour /(4 workers * $11 per hour$)+($40 per hour+12 per hour)
Multifactor productivity before=(104carts per hour /($66 per hour+$52 per hour)
Multifactor productivity before=(104carts per hour /118per hour
Multifactor productivity before=0.94 carts per hour
Berry Good LLC registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice cream products. Creamy Inc. uses the mark without Berry's consent to sell imitation frozen desserts. Berry has a cause of action against Select one: a. the U.S. Patent and Trademark office b. Creamy Inc. c. both Creamy and the U.S. Patent and Trademark office d. consumers who buy the Creamy products.
Answers
Answer:
b. Creamy Inc.
Explanation:
From the question we are informed about Berry Good LLC which registers its trademark with the U.S. Patent and Trademark office and uses it to market a distinctive line of ice cream products. Creamy Inc. uses the mark without Berry's consent to sell imitation frozen desserts. Berry has a cause of action against Creamy Inc. What happen here was a Trademark infringement on Creamy Inc part. Infringement can be regarded as violation of exclusive rights that is associated with someone trademark. This as a result of not taken authorization from the owner of the Trade mark who has the licensees
The board of directors of a corporation:________.
a) Are elected by the corporate registrar.
b) Are responsible for day-to-day operations of the business.
c) Do not have the power to bind the corporation to contracts, due to lack of mutual agency.
d) May not also be executive officers of the corporation, due to the separate entity principle.
e) Are responsible for and have final authority for managing corporate activities.
Answers
Answer:
e) Are responsible for and have final authority for managing corporate activities.
Explanation:
A corporation can be defined as a corporate organization that has facilities and owns or controls assets used for the production of goods and services in at least one country other than its headquarter (home office) located in its home country.
This ultimately implies that, a corporation is a corporate organization that owns or controls its business in two or more countries.
Some examples of multinational firms are Ap-ple, Volkswagen, Go-ogle, Shoprite, Nestlé, Accenture, Shell BP, Chevron etc.
An owner of a corporation is known as a stockholder and he or she can decide to sell the corporation through stocks or shares as a publicly traded firm.
Basically, the board of directors who are representing the stockholders of a corporation are responsible for and have final authority for managing corporate activities because they are typically considered to be a governing body saddled with oversight functions and responsibilities.
Assume that, compared with other nations, the country of New Bispo has a higher opportunity cost in the production of automobiles and a lower opportunity cost in the production of televisions. Determine whether the statements below are true or false.
a. Without trade, if the people of New Bispo want automobiles and televisions, New Bispo will produce its own automobiles and televisions.
b. With specialization and trade, New Bispo can obtain one or more automobiles from another nation by trading some of its televisions for automobiles.
c. New Bispo should specialize in producing the items in which it has a higher opportunity cost compared to other nations.
d. Without trade, the opportunity cost for New Bispo of producing more automobiles is fewer televisions.
e. With specialization and trade, the combinations of automobiles and televisions that New Bispo can consume are limited to points below the production possibility frontier.
Answers
Solution :
Statement a is TRUE.
-- As without trade, a country will consume what the country produces in its country. So the country, New Bispo will have to produce their own television and automobiles as they are operating under autarky.
Statement b is TRUE.
-- The country New Bispo has a comparative advantage than the other countries in production of television. Specialization as well as trade makes the country to exchange its best products(television) for some other goods(i.e. automobiles) and benefited from it.
Statement c is FALSE.
-- The statement is false as the when a country produces more of products in which it specializes and also has a lower opportunity cost, it provides for the maximum benefit. So by using specialization, the country can concentrate on production of a single item at a time that it can do its best.
Statement d is TRUE.
-- The opportunity cost for the production of automobiles is high for New Bispo, therefore, it indicates that a country will produce more of automobiles but it has to lower down its television production.
Statement e is FALSE.
-- The statement is false as the points that lies outside the curve can be attained with the resources and technology that are already existing if the trade occurs with the outside producer. The trade makes it enable to consume outside the production possibility frontier. So with trade and specialization, New Bispo are able to consume automobiles as well as television as they can operate beyond the PPC frontier.
Summary of opportunity cost
Answers
If you deposit $5,000 4 years from today, how much can you withdraw 10 years from today if interest is 6 percent per year compounded annually?
Answers
Answer:
the future value is $7,093
Explanation:
The computation of the future value is shown below:
As we know that
Future value = Present value × (1 + rate of interest)^number of years
= $5,000 × (1 + 0.06)^6
= $5,000 × 1.06^6
= $7,093
Hence, the future value is $7,093
AudioCables, Inc., is currently manufacturing an adapter that has a variable cost of $0.60 per unit and a selling price of $1.20 per unit. Fixed costs are $14,000. Current sales volume is 30,000 units. The firm can substantially improve the product quality by adding a new piece of equipment at an additional fixed cost of $6,000. Variable costs would increase to $0.75, but sales volume should jump to 50,000 units due to a higher-quality product. a. What is the current profit and proposed profit of the sales of AudioCables
Answers
Answer:
The answer is "$4,000 and $2,500"
Explanation:
Formula:
[tex]\text{Profit = Sales - Total cost}[/tex]
[tex]= \frac{\text{Selling price}}{unit} \times \text{volume of Sale} - ( \text{Fixed cost} + \frac{\text{Variable cost}}{unit} \times \text{volume of Sale})[/tex]
[tex]= 1.20 \times 30000 - ( 14,000 + 0.6 \times 30,000)\\\\= 36,000 -( 14,000 + 18,000)\\\\= 36,000 - 14,000 - 18,000 \\\\= 36,000 - 32,000 \\\\= \$ 4,000[/tex]
The scenario was revised by installing new audio connection equipment:
The volume of revised sales[tex]= 50,000[/tex]
Fixed cost updated [tex]= \$ 41,000 + \$ 6,000 = \$ 20,000[/tex]
Cost of the updated component [tex]= \frac{\$ 0.75}{unit}[/tex]
Unchanged purchase price/unit [tex]= \frac{\$ 1.2}{unit}[/tex]
[tex]= 1.2 \times 50,000 -(20,000 + 0.75 \times 50,000)\\\\= 60,000 -(20,000 + 37,500)\\\\= 60,000 -(57,500)\\\\= 60,000 -57,500 \\\\ =2,500[/tex]
Audio cable sales are actually profiting = 4,000
Proposal for audio cable sales profit = 2,500
Kendra Corporation uses a process-cost accounting system. The company adds direct materials and direct labor at the start of its production process; overhead cost is incurred evenly throughout manufacturing. The firm has no beginning work-in-process inventory; its ending work in process is 40% complete. Which of the following sets of percentages would be used to calculate the correct number of equivalent units in the ending work-in-process inventory?
a. Materials, 100%; labor, 100%; overhead cost, 40%.
b. Materials, 100%; labor, 100%; overhead cost, 100%.
c. Materials, 100%; labor 40%; overhead cost, 40%.
d. Materials, 40%; labor, 40%; overhead cost, 60%.
e. Materials, 40%; labor, 40%; overhead cost, 100%.
Answers
Answer:
a. Materials, 100%; labor, 100%; overhead cost, 40%.
Explanation:
The work in Process have already passed the mark at which Materials and Labor are added, that is the start of its production process so these are both 100% complete. Overheads are 40 % complete, which is the extent of work done on them since they occur evenly.
Question #1
A business organization that has members is a(n)
O Sole proprietorship
O Corporation
O Partnership
O LLC
Answers
Answer:
O LLC
Explanation:
Owners of a limited liability company, LLC are called its members. An LLC is formed by at least one member but has no upper limit. Members of an LLC may opt to get involved in managing business affairs. They enjoy unlimited liabilities to the debts of the entity. LLC members can be compared to the shareholders of a corporation.
Which of the following is an example of Brazil undertaking importing?
a.Brazil buys made-in-China products to sell in its domestic market.
b.China buys raw materials such as iron ore from Brazil.
c.Brazilian companies invest heavily in the housing industry in the country.
d.Chinese companies invest in Brazilian industry.
Answers
Wrong
A good example of Brazil undertaking importation is A. Brazil buys made-in-China products.
The products are made in China and imported into Brazil by businesses, institutions, and individuals resident in Brazil.
Importation does not involve the following options:
Option b, whereby "China buys raw materials such as iron ore from Brazil." For Brazil, this is an export. Option c, whereby "Brazilian companies invest heavily in the housing industry in the country." This is domestic investment for Brazil. Option d, whereby "Chinese companies invest in Brazilian industry." This is known Foreign Direct Investment (FDI).Thus, when Brazilian persons import products and services from another country, they are classified as imports and not exports or domestic investments.
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On discovering an improperly adjusted drill press, Jack Joyner, Director of Quality Control, ordered an inspection of every fifth casting drilled during the evening shift. Less than 1% of the sampled castings were defective; so, Jack released the evening shift's production to assembly. This is an example of _______________.
Answers
Answer:
Inferential statistics
Explanation:
Here, every fifth casting drill during evening shift is selected to identify the defectiveness of the casting. That is, every drill is considered as the sample. It is clear that the inference about the population is made. That is, less than 1% of the casting was defective, hence, it is concluded that is an example of inferential statistics
The cost of equipment purchased by Sheridan, Inc., on June 1, 2020, is $107,100. It is estimated that the machine will have a $6,300 salvage value at the end of its service life. Its service life is estimated at 7 years, its total working hours are estimated at 50,400, and its total production is estimated at 630,000 units. During 2020, the machine was operated 6,480 hours and produced 59,400 units. During 2021, the machine was operated 5,940 hours and produced 51,800 units.
Compute depreciation expense on the machine for the year ending December 31, 2020, and the year ending December 31, 2021, using the following methods. (Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to decimal places, e-g. 45,892.)
2020 2021
(a) Straight-line
(b) Units-of-output
(c) Working hours
(d) Sum-of-the-years'digits
(e) Double-declining-balance (twice the straight-line rate) $
Answers
Answer:
(a) Straight-line
depreciable value = $107,100 - $6,300 = $100,800
depreciation expense per year = $100,800 / 7 = $14,400
depreciation expense 2020 = $14,400
depreciation expense 2021 = $14,400
(b) Units-of-output
depreciable value = $107,100 - $6,300 = $100,800
depreciation expense per unit = $100,800 / 630,000 = $0.16
depreciation expense 2020 = $0.16 x 59,400 = $9,504
depreciation expense 2021 = $0.16 x 51,800 = $8,288
(c) Working hours
depreciable value = $107,100 - $6,300 = $100,800
depreciation expense per working hour = $100,800 / 50,400 = $2
depreciation expense 2020 = $2 x 6,480 = $12,960
depreciation expense 2021 = $2 x 5,940 = $11,880
(d) Sum-of-the-years' digits
depreciable value = $107,100 - $6,300 = $100,800
depreciation expense 2020 = $100,800 x 7/28 = $25,200
depreciation expense 2021 = $100,800 x 6/28 = $21,600
(e) Double-declining-balance (twice the straight-line rate)
depreciation expense 2020 = $100,800 x 2/7 = $28,800
depreciation expense 2021 = $72,000 x 2/7 = $20,571
The study of the role consumers play in a economic system is called what
Answers
Answer: Can i get OWA OWA
Explanation:
Economists develop models to A. capture every detail of the real world. B. justify the assumptions they make about%E2%80%8B people's behavior. C. make their arguments more realistic. D. help us understand economic phenomena in the real world.
Answers
Answer:
D
Explanation:
An economic model is a caricature of reality. It allows users to observe, understand and predict economic phenomena. Economic models don't capture every detail of the real world
Examples of economic models include :
the production possibility frontierthe Keynesian IS/LM modelthe Mundell-Fleming model.The Production possibilities frontiers is a curve that shows the various combination of two goods a company can produce when all its resources are fully utilised.
The PPC is concave to the origin. This means that as more quantities of a product is produced, the fewer resources it has available to produce another good. As a result, less of the other product would be produced. So, the opportunity cost of producing a good increase as more and more of that good is produced.
Which phrase best completes the diagram?
Effective Strategies for Managing Credit
?
Paying more than the minimum monthly payment
Replacing high-interest loans with low-interest loans
O A. Paying bills on time
B. Frequently filing for bankruptcy
C. Spending over credit limits
D. Avoiding all credit cards
Answers
Answer: mine is a bit different the question mark at the top is at the bottom for me but the answer on the top for me is paying bills on time
Explanation:
So I say A
The best phrase for Effective Strategies for Managing Credit is replacing high interest loans with low interest loans and paying bills on time.
What is credit?It is a process in which one party provides any sum of money or resources to the other party on the basis of trust. The latter pays the sum after some time on a given specific date.
Credit can be both interest bearing or non interest bearing.
What are effective strategies for managing credit?Regular credit checkStrict credit termsInvest in TrainingReplace high interest bearing loans with low interest bearing loansRegular payment of billsManaging credit scoreWhat is Interest?Interest is the type of amount which is paid when a sum of amount is given to someone as credit, to provide credit facility one receives some amount which is interest.
Hence option A is the correct answer,
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How can a manager use a value chain to improve a company?
Answers
To improve a company's value chain, its value chain management team identifies each part of its production process and where improvements can be made. These improvements can either reduce costs or improve production capacity.
Mohawk Machining, which uses a process-costing system, adds material at the beginning of production and incurs conversion cost evenly throughout manufacturing. The following selected information was taken from the company's accounting records: Total equivalent units of materials: 8,000 Total equivalent units of conversion: 7,400 Units started and completed during the period: 6,500 On the basis of this information, the ending work-in-process inventory's stage of completion is:_____.
A- 80%.
B- 70%.
C- 60%. - 40%.
D- some other percentage not listed above.
Answers
Answer:
C. 60%
Explanation:
Equivalent unit of Materials = 8,000.00
Equivalent unit of Conversion = 7,400.00
Units started and completed = 6,500.00
Since Materials are entered in the beginning it means that out of 8000 Units of Materials 6500 units are in Units started and completed and remaining 1500 Units are in Closing inventory. It also means that 1500 units are in Closing Inventory of Conversion and Equivalent production of conversion part of 1500 Units are 900 Units (7400-6500).
Let % Completion be x
X% of 1500 = 900
X = 900*100/1500
X = 60%.
Mocha Company manufactures a single product by a continuous process, involving three production departments. The records indicate that direct materials, direct labor, and applied factory overhead for Department 1 were $100,000, $125,000, and $150,000, respectively. The records further indicate that direct materials, direct labor, and applied factory overhead for Department 2 were $55,000, $65,000, and $80,000, respectively. In addition, work in process at the beginning of the period for Department 1 totaled $75,000, and work in process at the end of the period totaled $60,000.
The journal entry to record the flow of costs into Department 2 during the period for direct materials is:________.
A. Work in Process--Department 2 55,000
Materials 55,000
B. Work in Process--Department 2 150,000
Materials 150,000
C. Materials 55,000
Work in Process--Department 2 55,000
D. Work in Process--Department 2 100,000
Materials 100,000
Answers
Answer:
A. Work in Process--Department 2 55,000
Explanation:
The journal entry is shown below:
Work in Process - Department 2 Dr $55,000
To Materials $55,000
(Being the recording of the flow of cost for the direct material is done)
Here the work in process would be debited as it increased the asset and credited the material as it decreased the asset
Therefore the first option is correct
Sue views hot dogs (H) and hot dog buns (B) as perfect complements in her consumption, and the corners of her indifference curves follow the 45-degree line: H-B. Suppose the price of hot dogs is $5 per package (8 hot dogs), the price of buns is $3 per package (8 hot dog buns), and Sue's budget is $48 per month. What is her optimal choice under this scenario?
A. 6 packages of hot dogs and 6 packages of buns.
B. 6 packages of hot dogs and 8 packages of buns.
C. 8 packages of hot dogs and 8 packages of buns.
D. 8 packages of hot dogs and 6 packages of buns.
Answers
Answer:
A
Explanation:
a budget constraint is the total amount of goods and services an individual can buy given the price of the products and the income of the consumer.
Sue is constrained by her income. Thus, she must spend within $48
The equation for this is :
$5H + $3B = $48
where
H = hot dogs
B = Hot dog buns
(5 x 6 ) + (3 x 6 ) = $48
A national restoration contractor has $5 million to invest in new software to become more efficient in writing estimates and reducing errors, increasing net profits for the company. There are three products under consideration, each with a cost of $5 million to implement across the company. Which product should be purchased
Answers
Answer:
Product B
Explanation:
We are informed about A national restoration contractor who has has $5 million to invest in new software to become more efficient in writing estimates and reducing errors, increasing net profits for the company. There are three products under consideration, each with a cost of $5 million to implement across the company. In this case The product he should purchased is Product B
