A _____ is a report based on research of compensation rates for workers performing similar jobs in other organizations.

greg, a landscaper, is planning on opening his own landscaping company. he currently earns $40,000 per year working for his u

Oxana [17]

Answer:

The total economic cost is $40,500 per year

Explanation:

The total economic cost per year is equal to the sum of:

* The opportunity cost relating to sacrificing the current work Greg is working on which is equal to his yearly salary of : $40,00.

* The opportunity cost relating to sacrificing the interest income earned on $10,000 saving, which he is now used for purchasing equipment, which is calculated as: 10,000 * current rate of savings = 10,000* 5% = $500 ( total cost of equipment is not included because e could sell the equipment for what he paid later on).

=> So, total economic cost per year is $40,000 + $500 = $40,500.

5 0

3 years ago

If businesses are producing at capacity, and the nation is experiencing almost full employment (a very low rate of unemployment

Ivanshal [37]

Answer:

The correct answer to the following question is D) interest rates would be increased by the government when there is almost full employment in the economy.

Explanation:

When in the economy, business are producing close to productivity and in the nation there is almost full employment , then it can be said that the economy is booming . Which means there is good amount of money supply in the economy and people are spending robustly and that means the demand is high , which ultimately tells that the prices of goods and services are high.

So to cut the prices, government will increase the interest rate which will lead to the increase in cost of borrowing, and that will cause decrease in money supply and demand will ultimately fall, which leads to decrease in prices of goods and services.

3 0

3 years ago

For 2018, Broadview Company had revenues in excess of expenses. Which statement describes Broadview's closing entries at the e

Llana [10]

Answer:

D. Revenues will be debited, expenses will be credited, and retained earnings will be credited.

Explanation:

It is provided that, revenues are much more than expenses, therefore the net difference of revenues and expenses will be transferred to retained earnings.

Retained earnings balance will increase as the net income is more.

Therefore, retained earnings will be credited.

further to reverse and close the entire revenues and expenses account it will be reversed, that is

Revenues will be debited and expenses will be credited.

Therefore, correct answer is

D. Revenues will be debited, expenses will be credited, and retained earnings will be credited.

3 0

3 years ago

Forester Company has five products in its inventory. Information about the December 31, 2021, inventory follows. Product Quantit

sleet_krkn [62]

Answer:

Forester Company

1. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to individual products, is:

= $47,800

2. The carrying value of inventory at December 31, 2021, assuming the LCM rule is applied to the entire inventory, is:

= $49,800

3. Assuming inventory write-downs are common for Forester, the necessary year-end adjusting entry based on requirement 2 is:

Debit Cost of goods sold (Inventory write-down) $5,200

Credit Inventory $5,200

To write down the inventory value from $55,000 (purchase costs) to $49,800 (replacement costs).

Explanation:

a) Data and Calculations:

Product Quantity Unit Cost Unit Replace- Unit Selling LCM Value

ment Cost Price

A 1,000 $ 14 $ 16 $ 20 $14,000 ($14*1,000)

B 800 19 15 22 12,000 ($12*800)

C 700 7 6 12 4,200 ($6*700)

D 600 11 8 10 4,800 ($8*600)

E 800 18 16 17 12,800 ($16*800)

Total 3,900 $47,800

Total costs = (1,000*$14 + 800*$19 + 700*$7 + 600*$11 + 800*$18)

= ($14,000 + 15,200 + 4,900 + 6,600 + 14,400)

= $55,000

Tota replacement costs = (1,000*$16 + 800*$15 + 700*$6 + 600*$8 + 800*$16)

= ($16,000 + 12,000 + 4,200 + 4,800 + 12,800)

= $49,800

Total market value = (1,000*$20 + 800*$22 + 700*$12 + 600*$10 + 800*$17)

= ($20,000 + 17,600 + 8,400 + 6,000 + 13,600)

= $65,600

Total cost = $55,000

Total replacement cost = $49,800

Inventory write-down = $5,200

6 0

3 years ago

A private not-for-profit entity estimated its Allowance for Contractual Adjustment. During the next year, the hospital found tha

cupoosta [38]

A private not-for-profit entity estimated its Allowance for Contractual Adjustment. During the next year, the hospital found that the actual total of contractual adjustments applied to receivables on hand at the end of the previous year was $4,000 higher than the estimate. How should the difference be reported

8 0

2 years ago