Strategic efforts to supply consumers with environmentally friendly merchandise are called.

A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is a:

Salsk061 [2.6K]

A group of sellers who agree to restrict their collective output in order to drive up prices above marginal costs is known as a:

Cartel

According to the given question, we are asked to show the term which can be best used to describe a group of sellers who make an agreement to reduce their collective output so that price of goods would increase above their marginal costs.

As a result of this, we can see that this group of people in the business world are known as cartel because they behave unethically so that they could have increased profit on sales.

Read more here:

brainly.com/question/15294015

3 0

2 years ago

Match each hypothetical country’s aging structure to its most likely economic situation.

worty [1.4K]

It should be noted that the aging structure data is important as it allows the rate of growth to be associated with the population in a country.

Your information is incomplete. Therefore, an overview of the topic will be given. There are typically three age structures which are:

The children who are under 15 years old.
The working-age who are between 15 - 64 years.
The elderly ones who are 65 years and older.

It should be noted that an aging population lower the labor-force participation and slows down economic development in the country.

Learn more about aging population on:

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7 0

3 years ago

Stine Company uses a job order cost system. On May 1, the company has a balance in Work in Process Inventory of $3,500 and two j

Naddika [18.5K]

Answer:

Stine Company

1. Summary Journal Entries:

Debit Work in Process $10,400

Credit Materials $10,400

To record materials requisitioned for production.

Debit Work in Process $12,500

Credit Direct Labor $12,500

To record direct labor time tickets.

Debit Work in Process $7,500

Credit Manufacturing overhead $7,500

To record manufacturing overhead applied to production.

Debit Finished goods inventory $7,540

Credit Work in Process $7,540

To record the transfer of Job No. 429 to finished goods inventory.

2. Work in Process Inventory Control

Account Titles Debit Credit

Beginning balance $3,500

Direct materials 10,400

Direct labor 12,500

Overhead 7,500

Finished Goods Inventory $7,540

Ending Balance 26,360

Job Sheets Job 429 Job 430 Job 431 Total

Beginning WIP $2,000 $1,500 $3,500

Direct materials 2,500 3,500 $4,400 10,400

Direct labor 1,900 3,000 7,600 12,500

Manufacturing overhead (60%) 1,140 1,800 4,560 7,500

Finished Goods Inventory $7,540 (7,540)

Work in Process $9,800 $16,560 $26,360

Explanation:

a) Data and Computations:

Balance in Work in Process Inventory = $3,500

Job No. 429 $2,000

Job No. 430 $1,500

Job Materials Labor Time

Number Requisition Slips Tickets

429 $2,500 $1,900

430 3,500 3,000

431 4,400 $10,400 7,600 $12,500

General use 800 1,200

Total $11,200 $13,700

Total manufacturing overhead:

Indirect materials $800

Indirect labor $1,200

Total $2,000

5 0

3 years ago

Revenue recognition over time and at a point in time under ASC Topic 606 (LO3-4) MSK Construction Company contracted to construc

lions [1.4K]

Answer:

MSK Construction Company

a) Journal Entries:

Debit Contract Cost $290,000

Credit Cash Account $290,000

To record the cost of the contract incurred for the 1st year.

Debit Accounts Receivable $260,000

Debit Unbilled Contract $90,000

Credit Contract Revenue $350,000

To record the contract revenue for the first year.

Debit Cash Account $240,000

Credit Accounts Receivable $240,000

To record the receipt of cash for the first year.

Debit Contract Cost $150,000

Credit Cash Account $150,000

To record the cost of the contract incurred for the 2nd year.

Debit Accounts Receivable $265,000

Credit Contract Revenue $175,000

Credit Unbilled Contract $90,000

To record the contract revenue for the 2nd year.

Debit Cash Account $265,000

Credit Accounts Receivable $265,000

To record the receipt of cash for the 2nd year.

Explanation:

Contract price = $525,000

Contract data:

20X1 20X2

Costs incurred during the year $290,000 $150,000

Estimated additional cost to complete 145,000 —

Billings during the year 260,000 265,000

Cash collections during the year 240,000 285,000

Revenue Recognition over time based on costs:

Total estimated cost = $435,000 ($290,000 + 145,000)

Revenue in the 1st year = ($290,000/435,000 * $525,000) = $350,000

Revenue in the 2nd year = $175,000 ($525,000 - $350,000)

Revenue Recognition at point in time when control is transferred:

Revenue in the 1st year = $0

Revenue in the 2nd year = $525,000

5 0

3 years ago

Some ways aptitude can be learned include

juin [17]

Answer: formal education

experience

Explanation:

Aptitude could be described as the capability to learn a particular job or skill. The vital way of learning and aptitude is by formal education experience. Formal education experience is a structured system of learning whereby the students are trained by teachers for a certain period of time. The environment are a classroom type which involves the student making use of various learning material, the learning process cuts across various fields of life.

7 0

3 years ago