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1 year ago

Which of these people is part of the labor force?

Business

1 answer:

MA_775_DIABLO [31]1 year ago

7 0

The people that is part of the labor force is option D: an auto mechanic

The best example of frictional unemployment is option D: a company moving to another state, leaving its workforce without jobs

The ways that the economy is affected when the unemployment rate goes up are option B and C:

Sales tax rates go down.
Less money is spent on investments.

The most likely result of incomes not rising as quickly as inflation is option B: The unemployment rate rises as more people look for jobs.

The way the standard of living in the United States generally changed over the past 100 years is option B: It has gotten much better.

<h3>What do the terms "labor force" and "work force" mean?</h3>

The labor force is the whole population that is actively seeking employment. It is measured in terms of the number of days and is independent of wage rates. The workforce is the total number of people who are really employed.

Short-term unemployment includes frictional unemployment. When someone actively seeks a job or a new career, they are said to be in a frictional state of unemployment. Unemployment that is only intermittent isn't always a terrible thing. In fact, since it's voluntary, frictional unemployment may be a sign of a strong economy.

Hence, the term "workforce" or "labor force" refers to the group of people who are either employed or unemployed and an auto mechanic is a good example of it.

Learn more about labor force from

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Panarin Company entered into two contracts on the same date with Hjalmarsson Corporation. Panarin has provided the following ana

Nookie1986 [14]

Answer:

a. The 2 contracts should be combined.

b. $123,000 for Contract A

$82,000 for Contract B

c. Revenue should be recognized when control of goods has transferred to the customer.

Explanation:

Part a:

Answer: Yes. The 2 contracts should be combined.

Reasoning:

5-step revenue recognition model indicates identification of contracts with customer in the first step, identification of performance obligations of the contract in the second step, transaction price determination in the third step, allocation of transaction price to the performance obligations to the fourth step and recognition of revenue as the performance obligations in the fifth step. Therefore, two contracts should be combined.

Part b:

Calculate the amount of revenue should P associate with each of the contracts.

There are two performance obligations:

Goods from contract A ($120,000 + ($5000 x 60%)) = $123000

Goods from contract B ($80,000 + ($5000 x 40%)) = $82000

Reasoning: It is given that the stand-alone prices for Contract A is $120,000 and Contract B is $80,000. Contract price of Contract A is $125,000. Thus, the additional $5,000 should be split between the 2 contracts. Hence, the performance obligations for goods from contract A is $123,000 and goods from contract B is $82,000.

Part C:

Revenue should be recognized when control of goods has transferred to the customer.

Reasoning:

Performance obligation is satisfied when transfer the good or service to the customer. Recognize revenue when the performance obligation is satisfied is the fifth step of the 5-step revenue recognition model. Hence, revenue should be recognized when control of goods has transferred to the customer.

7 0

3 years ago

In 2018, Wilma Way’s sole proprietorship, WW Bookstore, generated $120,000 net profit. In addition, Wilma recognized a $17,000 g

kiruha [24]

Answer:

A. $120,000 is subject to self-employment tax

B. Wilma’s 2018 self-employment tax is $16,955

C. Wilma's allowable Section 199A deduction is $21,500

D. The taxable income from her bookstore activity is $107,982

Explanation:

A. The income from normal business activities are eligible for self employment tax, therefore $120,000 is subject to self-employment tax.

B. To calculate Wilma’s 2018 self-employment tax we have to make the following calculation:

Wilma’s 2018 self-employment tax=($120,000×92.35%)×15.30%

Wilma’s 2018 self-employment tax=$16,955

C. Assuming $43,000 of W-2 wages and $90,000 unadjusted basis of tangible depreciable property, the computation of Wilma's allowable Section 199A deduction would be as follows:

In this case would be 50% of W2 wage, therefore:

Wilma's allowable Section 199A deduction=$43,000×50%=$21,500

D. The taxable income from her bookstore activity=Gross Income-50%self-employment tax-Wilma's allowable Section 199A deduction

Gross Income=$120,000+$17,000+$960=$137,960

50%self-employment tax=$16,955×50%=$8,478

Wilma's allowable Section 199A deduction=$21,500

Therefore, The taxable income from her bookstore activity= $137,960-$8,478-$21,500=$107,982

7 0

3 years ago

Barry owns a 50 percent interest in B&B Interests, a partnership. His brother, Benny, owns a 35 percent interest in that sam

omeli [17]

Answer:

$10,000 loss

Explanation:

Barry bought a property for $60,000. He sells it for $100,000 to a company he owns 50% of. 50% of $100,000 = $50,000. He bought it for $60,000 and sold it for $50,000... that's a $10,000 loss. But they did say they are keeping the property for resale so there still may be hope :D

5 0

3 years ago

Based on this graph, why are there upper and lower limits for the $?

REY [17]

This graph is indicating a fixed exchange rate that prevents the foreign exchange rate from moving outside of the upper and lower limits.

Answer: Option D.

<u>Explanation:</u>

A fixed exchange rate, now and again called a pegged exchange rate, is a kind of swapping scale system in which a cash's worth is fixed or pegged by a money related authority against the estimation of another money, a container of different monetary forms, or another proportion of significant worth, for example, gold.

In this case, the exchange rate is fixed because the limits are fixed in this case.

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3 years ago

Chromatics, Inc., produces novelty nail polishes. Each bottle sells for 3.60. Variable unit costs are as follows:

devlian [24]

Answer:

Margin of safety= 9,000 units

Explanation:

Giving the following information:

Each bottle sells for 3.60.

Variable unit costs are as follows:

Acrylic base- .75

Pigments- .38

Other ingredients- .35

Bottle, packing material- 1.15

Selling commission- .25

Fixed overhead costs are 12000 per year. Fixed selling and administrative costs are 6720 per year. Chromatics sold 35000 bottles last year.

First, we need to calculate the variable cost per unit and total fixed costs:

Unitary variable cost= 0.75 + 0.38 + 0.35 + 1.15 + 0.25= $2.88

Total fixed costs= fixed overhead + fixed selling and administrative= 12,000 + 6,720= 18,720

Now, we can calculate the break-even point in units:

Break-even point= fixed costs/ contribution margin

Break-even point= 18,720 / (3.6 - 2.88)= 26,000 units

Margin of safety ratio= (current sales level - break-even point)

Margin of safety ratio= 35,000 - 26,000= 9,000 units

8 0

3 years ago