Answer:
$700 (not given in the options)
Explanation:
When the policy is purchased with a payment made in advance, the entries recorded are
Debit prepaid insurance $8,400
Credit Cash account $8,400
After the first month, the expense incurred is
= 1/12 × $8,400
= $700
Entries then required
Debit Insurance expense $700
Credit Prepaid Insurance $700
The question is incomplete. Here is the complete question
Suppose the demand for Digital Video Recorders (DVRs) is given by Q = 250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does the quantity demanded for DVRs change if the p rises by $40? A) drops by 10,000 DVRs B) increases by 16,000 DVRs C) drops by 2,500 DVRs D) increases by 4,000
Answer:
Drops by 10,000 DVRs
Explanation:
The demand for digital video recorders is expressed by
Q= 250- .25p+4pc
Where
Q represents the quantity demanded by the customers
P represents the price of DVR
pc represents the price of cable television
Since the factor of p in the expression above is negative, this implies that the quantity of DVR demanded in the market will reduce
If the price of DVR increase by $40, then the quantity demanded will reduce by
= 0.25×40×1000
= 10×1000
= 10,000 units
Hence the quantity of DVRs drops by 10,000 DVRs if the price is increased to $40
Answer:
Taking $1 from Carl and giving it to Andy would increase society's total utility.
Explanation:
Since Andy's income is less than other three people when a $1 taken from Carl would increase Andy's utility more than the loss in utility of Carl. Thats why total utility would increase.
Answer:
The answer is cost accounting system.
Explanation:
Cost accounting is a tool that allows you to estimate the actual price of the products, which allows you to establish a profit margin for each unit sold. Depending on the activity of the company, several techniques are used such as production costing, process costing, standard costing, absorption costing, etc.
Answer:
- Materials - 100,400
- Conversion - 95,600
Explanation:
Equivalent Units = Units Completed and Transferred out + Ending Work in Progress.
Materials Equivalent Units
Ending Work in Progress = 90% * 16,000
= 14,400 units
Equivalent Units = 86,000 + 14,400
= 100,400 units
Conversion Equivalent Units
Ending Work in Progress = 60% * 16,000
= 9,600 units
Equivalent Units = 86,000 + 9,600
= 95,600 units
