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d1i1m1o1n [39]
3 years ago
5

Explain briefly why the private market for public goods is typically characterized by underprovision. Under what situations will

we expect the private market to overcome this problem (at least partially)?
Business
1 answer:
Dafna1 [17]3 years ago
3 0

Answer:

Exclusivity of the goods and services

Explanation:

The private market suffers as a result of the underprovision of the public goods. When this situation takes place, there is a tendency for the private market to try to develop ways to make the goods excludable. The phenomenon results in an additional problem such as the free rider problem. This is a case where an investment has  a personal cost that is raised. The provision of public goods works when individuals value the benefits of and costs to others in making their consumption choices.

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In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
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Answer: $28,000

Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

= Real estate taxes + Capped state income tax

= 18,000 + 10,000

= $28,000

6 0
3 years ago
Pup tents use 4 direct labor hours (DLH) per unit and Pop-up tents use 3 direct labor hours per unit. Compute the overhead cost
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a) The computation of the single plantwide predetermined overhead rate for Tent Master is $6 per DLH ($252,000/42,000).

b) The computation of the overhead cost per unit for Pup and Pop-up Tents for Tent Master is computed as follows:

                               Pup Tents     Pop-up Tents

Overhead cost     $24 ($6 x 4)    $18 ($6 x 3)

c) The computation of the product cost per unit for Pup and Pop-up Tents is as follows:

Per Unit      Selling     Direct     Direct  Overhead     Product

                    Price   Materials   Labor    per unit    Cost / Unit

Pup tent       $ 78         $ 20      $ 45        $24             $89

Pop-up tent    73             25         30         $18             $73

d) The computation of the gross profit per unit (selling price per unit minus the product cost per unit) of Pup and Pop-up Tents is as follows:

Per Unit      Selling     Direct    Direct  Overhead   Product    Gross Profit

                    Price   Materials  Labor    per unit   Cost / Unit  (Loss) per unit

Pup tent      $ 78       $ 20      $ 45         $24             $89     ($11) ($78 - $89)

Pop-up tent   73          25          30          $18             $73       $0 ($73 - $73)

<h3>What does a product cost?</h3>

The determination of the product cost includes the costs of direct materials, direct labor, and overhead.  The overhead cost is allocated to each unit based on a predetermined overhead rate (budgeted overheads/budgeted usage) or using an activity-based costing technique.

<h3>Data and Calculations:</h3>

Budgeted overhead costs = $252,000

Budgeted direct labor hours = 42,000

<h3>Question Completion:</h3>

Tent Master produces Pup tents and Pop-up tents. The company budgets $252,000 of overhead cost and 42,000 direct labor hours. Additional information follows:

Per Unit      Selling Price  Direct Materials  Direct Labor  DL Hours

Pup tent          $ 78                   $ 20                   $ 45            4

Pop-up tent       73                       25                      30            3

<h3>Required: </h3>

1. Compute a single plantwide overhead rate assuming the company allocates overhead costs based on 42,000 direct labor hours.

2. Pup tents use 4 direct labor hours (DLH) per unit and Pop-up tents use 3 direct labor hours per unit. Compute the overhead cost per unit for each product.

3. Compute the product cost per unit for each product.

4. For each product, compute the gross profit per unit (selling price per unit minus the product cost per unit).

Learn more about calculating the predetermined overhead rates at brainly.com/question/26372929

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Answer:

4%

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Profit on special order = 7847.7     or   7848 Selling price 11 Variable cost   special material 0.72 Cost of goods sold 6.69 Selling and administrative cost 1.02 Total variable cost per unit Particulars Per Unit 64500 Units Sales 19 1225500 Less: Variable cost     Cost of Goods Sold (521805-130935) 6.06 390870 Sales commission (Sales*4%) 0

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