Answer:
Check the explanation
Explanation:
May June
Budgeted sales 10800 14400
(600*18) (800*18)
Less: cost of good sold 5970 7960
(9.95*600) (9.95*800)
Gross margin 4830 6440
Less: Operating expenses
Selling expenses (6%*Sales) 648 864
Fixed administrative expenses 1200 1200
Total operating expenses 1848 2064
Budgeted Net Operating Income 2982 4376
Unit product cost
Material $4
Direct labor (9*.3) 2.7
Variable manuafcturing overhead 1.25
Fixed overhead 2
Unit product cost $9.95
Answer:
recorded on March 31, 2021.
Explanation:
As we know that if there is an accural basis so the revenue is recognized and recorded when it is earned here the receipt of cash is not material for recording the revenue
Since in the given situation, the date of completion of the contract is considered for recording date of revenue as per the accrual basis
So March 31, 2021 should be considered
A. 1% increase in the price of the good causes the supply curve to shift upward by 4 percent.
Answer:
<u>A) private-sector entrepreneurs can expropriate the profits generated by the efforts of private and public entities.</u>
Explanation:
- As there exist four basic structures of the market economy in the form of perfect competition, imperfect competition, oligopoly, and monopoly.
- Thus without any legal system of trade in the market economy, the profits that are generated by the public and private sectors can be taken away by these entities as a large number of small firms tends to compete in the market against each other with there homogenous products.
- Thus under such circumstances, the market economy would deprive all the profits made by the other forms in the market and put barriers to entry for others. Buyers thus will be deprived of the quality products.
