Answer: B
The government cannot control interest rates and that is the reason is why the government cannot completely control the business cycle. This is so because interest rate controls the rate of consumer spending, borrowing and spending. Say interest is low, people will borrow more and spend more and this will have an impact in the rate of employment. Hence, in short if the government cannot control interest rate, everything depending on it, the economic cycle cannot be determined.
Answer:
<u><em>Part 1. </em></u>
- <em>Average cost per day of a three-day pass</em> = $53.33/day per person
- <em>Marginal cost of adding the third day </em>= $190 - $160 = $30 per person
<em />
<em><u>Part 2.</u></em>
- <em>Group's marginal cost of switching from the two-day pass to the three-day pass</em> = $180
Explanation:
The total <em>cost</em> is the <em>admission charge</em> ($60) plust the cost of the pass ($100 or $130).
For a <em>two-day pass</em> that is: $60 + $100 = $160, per person
For a <em>three-day pass</em> that is: $60 + $130 = $190, per person
<u><em>Part 1. The average cost per day of a three-day pass per person. </em></u>
The <em>average cost</em> is the total cost divided by the number of days.
- <em>Average cost</em> = $160/3days = $53.33/day per person
The <em>marginal cost of adding the third day</em> per person is found by subtracting the total cost for two days from the total cost for three days:
- <em>Marginal cost of adding the third day</em> = $190 - $160 = $30 per person
This says that althoud the average cost for the three days is $53.33 the cost of adding the third day is $30, which is much lower; thus, it is a good deal to buy a three-days pass, as they are interested in spending a lot of time there.
<u><em>Part 2. The group's marginal cost of switching from the two-day pass to the three-day pass</em></u>
<em></em>
Since the <em>marginal cost of switching from the two-day pass to the three-day pass</em> is $30 per person, the marginal cost for the 6-person group is 6 times $30:
- 6 persons × $30/person = $180.
Answer:
materials quantity variance: 1,200 unfavorable
Explanation:
std quantity 5400.00
actual quantity 6000.00
std cost $2.00
difference -600.00
quantity variance $(1,200.00)
The difference between standard and actual quantity is negative. We used more pounds than expected, the variance will be unfavorable.
600 extra pounds at $2.00 each = 1,200
Answer:
Anne Mullens committed embezzlement.
Explanation:
Embezzlement is defined as misappropriation of funds by someone with whom funds have been entrusted.
It is a theft as the money does not belong to the perpetrator. The perpetrator is only entrusted with funds.
One of the conditions for embezzlement is an existence of a fiduciary (trust) relationship between parties.
In the given case, Anne Mullens pocketed $57 cash from recorded amount instead of recording 57$ customer's payment via check. Instead she included the customer's check in the money to be taken to bank.
This is embezzlement of funds by Anne.
Entries are given.
DATE ACCOUNT TITLES DEBIT CREDIT
Dec 31,2019 No entry 0
No entry
(Considering that goodwill has an 0
infinite existence, goodwill should
not be amortised.)
Dec 31, 2019 Patent Amortization $10,000
[$75,000×(1/5)×(8/12)] patents
(To record patent amortizations for $10,000
8 months)
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