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2 years ago

Adding the market value of all final and intermediate goods and services in an economy in a given year would result in?

1 answer:

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When the market value of all final and intermediate goods and services in an economy are added up in a given year, this would lead to <u>Double Counting. </u>

<h3>What is double counting?</h3>

Double counting is a problem in Gross Domestic Product calculation where intermediate goods are added to final goods to determine the country's productivity.

Adding intermediate goods is a faux pass because the value of intermediate goods are included in the final goods and services price so there is no need to add them again.

If they are added, then the value of the intermediate goods would have been counted twice or double. This is where double counting comes from.

For instance, when making bread, flour is an intermediate good. The bread already includes the cost of this flour so adding the cost of the flour would mean inflating the true cost of the bread.

In conclusion, this is double counting.

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The annual demand of product Y is 1908 units. The ordering cost is $45 per order. Holding cost is $15 per unit per year. Calcula

Flauer [41]

Answer:

Option E

The annual ordering cost is more than $1150

Explanation:

The ordering costs include all the clerical, administrative and transportation costs associated with placing an order.

Annual ordering cos = ordering cost per order × number of order

No of order = Annual demand/order quantity

= 1908/67= 28.47 orders

Annual ordering cost = 28.47× 45= $1281.49

Annual ordering cost =$1281.49

The annual ordering cost is more than $1150

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3 years ago

Companies that use job-order costing ______. Multiple choice question. make unique products use a series of standardized process

tamaranim1 [39]

Companies that use job-order costing make unique products.

<h3>What is job-order costing?</h3>

Job order costing can be defined as a costing method that is used to calculate the cost of each unique item produce or the cost of producing each unique product that is different from the ones in the market.

Example companies can make use of job-order costing when they produce a unique bag or shoe for their customer.

Since this product they produce for this customer is unique, the manufacturer can tend to use job order costing to determine the price or selling price they will to charge the customer.

A company can use a job order cost method if it produce products with unique characteristics.

Inconclusion companies that use job-order costing make unique products.

Learn more about job-order costing here: brainly.com/question/24516871

7 0

3 years ago

Joe Jones is aware of wrongdoing and unethical behavior within the manufacturing company where he works. Before Jones blows the

irina1246 [14]

Answer:

D. Will the Jury award be worth it?

Explanation:

Jones asking himself if whistle blowing is the only way to stop unethical behavior and wrong doing before making decision whether or not to whistleblow is important, as if there are alternative measures to be taken that would mitigate those actions, it might be better to take those alternatives.

Same thing with whether he has documentary evidence to back up his accusatory statements and the reason for whistleblowing.

But the one thing that shouldn't have bearing on his decision is if the Jury award would be worth it. Whether or not there's an award for whistleblowing shouldn't be the determinant or driving factor that decides whether or not he should whistleblow. Its unethical to consider the monetary aspect or award gotten from whistleblowing.

7 0

3 years ago

A deadweight loss is a consequence of a tax on a good because the tax

mamaluj [8]

Answer:

b. induces buyers to consume less, and sellers to produce less.

Explanation:

Because of the increase of tax on each good, it will cause a deadweight loss. At higher tax rates we consumers tend to consume less, the decrease in demand will inevitably decrease the supply therefore sellers will produce less.

4 0

3 years ago

Manufacturing cost data for Orlando Company, which uses a job order cost system, are presented below. Indicate the missing amoun

marusya05 [52]

Answer:

(a) $54796 (b) $58,800 (c) $ 15100 (d) $117916 (e) $ 352916 (f) $ 374216

(g) $326316 (h) $ 82824.18 (i) $ 64276.82 (j) $234500 (k) $1900

Explanation:

The calculations are as follows.

Case A Case B Case C

Direct materials used $ (a) 54796 $91,200 $69,000

Direct labor 52,200 143,800 (h) 82824.18

Manufacturing overhead applied 42,804 (d)117916 (i)64276.82

Total manufacturing costs 149,800 (e) 352916 216,100

Working

The following formula is used to find the missing values :

Total MFG Cost= DM + DL+ MFG OH

a) 149800- 42804-52200= 54796

d) Ratio of MfgOH to DL= 42,804/52,200= 0.82

Mfg Overhead for Case 2= 0.82* 143,800= 117916

e) 91,200+ 143,800+ 117916= 352916

h+i) Conversion Costs for Case 3= 216100-69000=147100

Mfg OH is 82% of DL

Total Conversion Cost will be 1.82

1.82x= 147100

x= 147100/1.82

x= 82,824.18

h)DL= 82824.18

i) MFG OH= CC- DL= 147100- 82824.18= 64276.82

Work in process 1/1/14 (b) 58,800 21,300 18,400

Total cost of work in process 208,600 (f) 374216 (j)234500

Working

The following formula is used to find the missing values

Total WIP Cost- Total MFG Cost= Opening WIP

b)Total WIP Cost- Total MFG Cost= 208600-149800= 58,800

f) Total MFG Cost+ WIP= 352916 + 21,300 =374216

j) Total MFG Cost+ WIP=216,100 + 18,400= 234500

Work in process 12/31/14 (c) 15100 11,900 (k)1900

Cost of goods manufactured 193,500 (g) 326316 232,600

Working

The following formula is used to find the missing values

Total WIP-CGS= Ending WIP

c) Total WIP-CGS= 208600-193500 = 15100

g) Total WIP- Ending WIP= 374216- 11,900 = 326316

k) Total WIP-CGS=234500- 232,600 = 1900

After filling in the blanks:

Case A Case B Case C

Direct materials used $ (a) 54796 $91,200 $69,000

Direct labor 52,200 143,800 (h) 82824.18

Manufacturing overhead applied 42,804 (d)117916 (i)64276.82

Total manufacturing costs 149,800 (e) 352916 216,100

Work in process 1/1/14 (b) 58,800 21,300 18,400

Total cost of work in process 208,600 (f) 374216 (j)234500

Work in process 12/31/14 (c) 15100 11,900 (k)1900

Cost of goods manufactured 193,500 (g) 326316 232,600

6 0

3 years ago