Black Friday where speculators with Grant tried to corner the gold market and the Whiskey ring which was a diversion of tax revenues between government, politicians, and whiskey distillers.
Answer:
Government intervention
Explanation:
In settings that involves monopoly or negative externalities, the government has to intervene. Government intervenes in market when resources are not allocated fairly. The reasons for government intervention is to maximize social welfare and they do this by breaking up monopolies and regulating negative externalities such as pollution. Without government intervention businesses would produce negative externalities with facing any consequences. And some organization would have monopolistic powers and this would lead to reduces innovation, lower trades and reduced resources.
Answer:
$11,000 under applied
Explanation:
To compute the under or over applied overhead, we need to find out the predetermined overhead rate
Predetermined overhead rate = Total estimated manufacturing overhead ÷ Estimated machine hours
= $4,100,000 ÷ 500,000
= $8.2
Then, the overhead applied is;
= Actual machine hours × Predetermined overhead rate
= 495,000 × $8.2
= $4,059,000
Now, the under applied or over applied overhead is
= Actual annual overhead cost - Applied overhead
= $4,070,000 - $4,059,000
= $11,000 under applied
Answer:
Debit equipment for the amount of $140,000
Explanation:
Based on the information we were told that the industries purchased an equipment for the amount of $140,000 in which the equipment is expected to be use over the next 10 years which means that Recording this transaction would include a DEBIT to equipment for the amount of $140,000 which is the amount that was used to purchased the equipment.
Hence, we are going to Dr Equipment for $140,000
The primary benefit of assembly lines is that they allow workers and machines to specialize at performing specific tasks, which can increase productivity. Large-scale assembly lines can allow for mass production of goods that would not be possible if products were made from start to finish by a single worker.
