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2 years ago

According to Adam Smith, a country has an absolute advantage in the production of a product when it _____.

1 answer:

3 0

According to Adam Smith, a country has an absolute advantage in the production of a product when it : is more efficient than any other country at producing it.

<h3>What is production?</h3>

Production can be defined as the process of manufacturing goods or product.

A country can have an advantage in the production of a product over other country when the country is good at what the produce and they are efficient in producing the product because they produce a desired result , with this other country will be attracted to what this country produce.

Inconclusion a country has an absolute advantage in the production of a product when it : is more efficient than any other country at producing it.

Learn more about production here:brainly.com/question/16755022

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Scott Corporation produces a part for use in the production of one of its products. The per-unit costs associated with the annua

denpristay [2]

Answer:

It is cheaper to buy the part. The company will save $5,000.

Explanation:

Giving the following information:

UNitary production cost:

Direct Materials $10.50

Direct labor $24.00

Variable factory overhead $ 5.50

Total avoidable Fixed factory overhead= (12*1,000) - 5,000= 7,000

Larson Company has offered to sell 1,000 units of the same part to Scott Corporation for $42 per unit.

First, we need to calculate the total cost of making the units:

Total cost= (10.5 + 24 + 5.5)*1,000 + 7,000= $47,000

Now, the total cost of buying them:

Buy= 1,000*42= $42,000

It is cheaper to buy the part. The company will save $5,000.

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3 years ago

Variable costs as a percentage of sales for Lemon Inc. are 71%, current sales are $551,000, and fixed costs are $207,000. How mu

MAVERICK [17]

Answer: a.$10,904 increase

Explanation:

Operating income before sales increase:

= Sales - Variable costs - Fixed costs

= 551,000 - (71% * 551,000) - 207,000

= -$47,210

Operating income after sales increase:

Sales increases to:

= 551,000 + 37,600

= $588,600

= 588,600 - (71% * 588,600) - 207,000

= -$36,306

Difference:

= -47,210 - (-36,306)

= Increase of $10,904

7 0

2 years ago

On October 31, 2016, the following data was accumulated to assist the accountant in preparing the adjusting entries for Dependab

strojnjashka [21]

Journal entries record all transactions for a business. Transactions made on October 31, 2016 are recorder in the journal.

<h3>What is journal entry?</h3>

A journal entry is used to record a business transaction in the accounting records of a business.

The following journal entries are as follows-

A). Accounts Receivable Dr. $9,670

To Fees Earned Cr. $9,670

(Accrued fees earned)

B). Supplies Expenses Dr. $2270

To supplies Cr. $2270

(Supplies used $3,180- $910)

C). Wages expenses Dr. $1,220

To wages payable Cr. $1,220

(Accrued wages)

D). Unearned rent Dr. $3,160

To Rent revenue Cr. $3,160

(Rent earned 9,480/3 months)

E). Depreciation expenses Dr. $1,610

Accumulated Depreciation - Equipment $1,610

(Depreciation expenses)

Above mentioned are the journal entries to be made for Dependable Realty.

Learn more about the journal entries here:-

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3 0

1 year ago

Rick is a new product manager for a large biochemical firm. He is currently working on a proposal for a new chemical solvent and

serg [7]

Answer: Rick is a new product manager for a large biochemical firm. He is currently working on a proposal for a new chemical solvent and knows that introducing the new product can be risky because it might fail. He also knows that <u>not introducing new products</u> is risky as well.

Explanation: Launching new products to the market is essential if a company wants to survive. The development of new products is linked to the ability of a company to remain competitive and the longevity of a business. since as time passes new products are created better than the previous ones leaving them obsolete.

7 0

3 years ago

Which person is most creditworthy? <br><br> A. Nancy <br> B. Sylvia <br> C. Fiona <br> D. Uli

pav-90 [236]

Fionna is the answer

8 0

3 years ago

Read 2 more answers