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2 years ago

1. Which of the following accounts are NOT likely appear in a job order cost system of a service business

Business

1 answer:

Burka [1]2 years ago

8 0

A finished Goods account would most likely not appear in a job order cost system of a service business.

Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.

The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.

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Cash dividends of $45,000 were declared during the year. Cash dividends payable were $10,000 at the beginning of the year and $1

gogolik [260]

Answer:

The amount of cash for the payment of dividends during the year is B. $40,000

Explanation:

To Determine the amount of cash for the payment of dividends during the year, we open a Dividends Payable T - Account and find the amount via missing figure approach as follows:

Debits :

Cash (Balancing figure) $40,000

Ending of year Dividends Payable $15,000

Totals $55,000

Credits :

Beginning of year Dividends Payable $10,000

Dividends declared during the year $45,000

Totals $55,000

4 0

3 years ago

A country has reached a level of economic development where the manufacturing of both semidurable and nondurable consumer goods

liubo4ka [24]

Answer: Takeoff stage

Explanation: In Rostow's five-stage model of economic growth states various factors of the required economic condition necessary for that country to develop. One such stage is the takeoff stage. i.e.

Take-off stage states

(a)In this particular period Urbanization will increases.

(b)Industrialization proceeds as technological progress will take place.

(c) Secondary sector expands .

It should be also duly noted that during this stage,Textiles and apparel are usually the first "take-off" industry .

Hence, a country where the manufacturing of both semi durable and non durable consumer goods has just begun. Also, the goods demanded relate to equipment and supplies to support manufacturing has reached the takeoff stage in Rostow's five stage model of economic growth.

5 0

2 years ago

There were a total of 90 people in the households, 10 of the people were children under 16, 10 of the people were retired but st

Vlad1618 [11]

Answer:

The unemployment rate is 42.85.

Explanation:

The formula to calculate the unemployment rate is:

Unemployment Rate = (Unemployed People / Total Labor) x 100 -- (1)

where total labor is the sum of the unemployed people and employed people.

Unemployed People = 10 Retired persons + 5 stay-at home parents + 10 persons with no job + 5 persons who wanted job

Unemployed People = 30

Labor Force = Employed people + Unemployed people

Labor Force = 40 + 30

Labor Force = 70

Putting the values in equation 1,

Unemployment Rate = ( 30/ 70) x 100

Unemployment Rate = 42.85

7 0

3 years ago

Use the cost and revenue data to answer the questions. Quantity Price Total Revenue Total Cost 15 90 1350 900 30 80 2400 1500 45

borishaifa [10]

Answer:

What is marginal revenue when quantity is 30 ? 30?

= ($2,400 - $1,350) / (30 - 15) = $900 / 15 = $70

What is marginal cost when quantity is 60 ? 60?

= ($3,150 - $2,250) / (60 - 45) = $900 / 15 = $60

If this firm is a monopoly, at what quantity will profit be maximized?

quantity: 45 units

a monopoly maximizes its accounting profit when marginal revenue = marginal cost, in this case they both equal $50 per unit when total output is 45 units

If this is a perfectly competitive market, which quantity will be produced?

quantity: 45 units

a perfectly competitive firm maximizes its accounting profit when marginal revenue = marginal cost, in this case they both equal $50 per unit when total output is 45 units

Comparing monopoly to perfect competition, which statement is true?

The consumer surplus is smaller with a monopoly.
The monopoly's price is higher.

In a monopoly, output is smaller than the perfectly competitive output. The price charged by a monopolist is also higher. This also results in lower consumer surplus with a monopoly.

Explanation:

Quantity Price Total Revenue Total Cost

15 90 1350 900

30 80 2400 1500

45 70 3150 2250

60 60 3600 3150

75 50 3750 4200

90 40 3600 5400

3 0

2 years ago

The lender usually has the right to collect the principal, but is NOT allowed to collect the interest if the loan is:

Elena-2011 [213]

Answer:

This question is incomplete, the options are missing. The options are the following:

a) For consumer purposes

b) For commercial purposes

c) Usurious

d) An online contract

And the correct answer is the option C: Usurious.

Explanation:

To begin with, in the area of law, the term known as "Usury" is refer to the practice that focuses on making the lender richer in unethical ways so therefore that this practice is considered to be the one that makes inmoral monetary loans that try to affect the borrower in order to benefit the lender. One example of the use of this term could be the case in where the lender charges or try to charges a higher interest rate to the borrower than the one that is prohibited by law as a maximun rate.

3 0

3 years ago