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Citrus2011 [14]
1 year ago
9

Comparing how many dollars it takes to attend college each year to annual earnings on a job represents the use of money as a?

Business
1 answer:
kirill115 [55]1 year ago
3 0

Unit of Account.

One of the main qualities of cash is that it fills in as a unit of record. Cash as unit of record is something that can be utilized to esteem labor and products, record obligations, and make computations that is all there is to it is an estimation for esteem. It has three significant qualities which are:

Diversity:- It very well may be separated so that it's part is equivalent to it's unique worth.

Fungible:- One of the unit is equivalent to some other piece of the unit with no adjustments of significant worth.

Countable:- It very well may be counted and exposed to numerical tasks.

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The price of a camera decreases from $200 to $180, and in response to the price change the quantity demanded increases from 60 t
bonufazy [111]

The price of a camera decreases from $200 to $180, and in response to the price change the quantity demanded increases from 60 to 70 units. Therefore, demand for cameras in this price range is inelastic.

An economic word known as "inelasticity" describes an item or service's unchanging quantity when its price varies. When prices rise, consumers' purchasing patterns essentially stay the same, and when prices fall, those same purchasing patterns still hold true. This is known as inelastic demand. When an item or service's quantity remains constant when its price increases, it is said to be "inelastic. "When a good or service's price increases or decreases, consumers' purchasing patterns essentially stay the same. The same is true when the price of the good or service decreases. The demand for an item or service that is totally inelastic would not fluctuate regardless of price; however, no such good or service exists. Elastic contrasts with inelastic.

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7 0
1 year ago
Koebel Corp uses a job order costing system with manufacturing overhead applied to products on the basis of direct labor hours.
Lynna [10]

Answer: See explanation

Explanation:

a. Calculate the predetermined overhead rate Overhead Rate per hour

Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:

= $ 921,600/51,200

= $ 18

(b) Calculate how much manufacturing overhead will be applied to production

Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:

= $ 18 × 48,900 direct labor hours

= $ 880,200

(c) Is overhead over- or underapplied? By how much?

The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.

Therefore, the amount of overhead that was underapplied will be:

= $ 902,900 - $ 880,200

= $ 22,700

(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?

Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.

4 0
3 years ago
If actual output exceeds potential output, the economy: Group of answer choices is experiencing an inflationary gap. may be in a
Lostsunrise [7]

A. Experiencing an inflationary gap; when actual output exceeds potential output the price level rises because employers have to raise wage rates to entice more people into the labor market and employers have to pay more for other inputs that become more expensive to produce.

What is an output gap?

The difference between an economy's actual and potential output is measured economically as the "output gap." The maximum amount of products and services that an economy can produce at its peak efficiency, or when it is operating at capacity, is known as potential output. Potential output is frequently referred to as the economy's production capacity. An output gap suggests that an economy is running at an inefficient rate—either overworking or underworking its resources.­

How it causes inflation?

Potential output, which is often defined as the level of output consistent with no pressure for prices to rise or fall, is frequently used by policymakers to measure inflation. The production gap serves as a quick indicator of the relative importance of the demand and supply sides of the economy in this situation. Thus, the output gap is a crucial link between the real side of the economy, which generates goods and services, and inflation. It quantifies the strength of inflation pressure in the economy.

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4 0
2 years ago
Ceteris paribus, a 10 percent increase in income results in a 50 percent decline in the quantity of potatoes purchased. this imp
Liula [17]
The answer to this question is B. Substitute 
8 0
3 years ago
Read 2 more answers
George has the following capital gains and losses for 2019: $6,000 STCL, $5,000 28% gain, $2,000 25% gain, and $6,000 0%/15%/20%
sattari [20]

Answer:

E) The net capital gain is composed of $1,000 25% gain and $6,000 0%/15%/20% gain.

Explanation:

Calculation to determine what the net capital gain is composed of

Based on the information information given the amount of $6,000 STCL will have to offsets the $5,000 28% gain which is represent the highest tax rate gain while -$1,000 of 25% gain which is the amount that remain as loss will as well offsets the next highest tax rate gain.

Hence

Net capital gain= $6,000 STCL - $5,000 28% gain

Net capital gain= - $1,000 of 25% gain

Therefore the net capital gain is composed of

$1,000 25% gain and $6,000 0%/15%/20% gain.

3 0
3 years ago
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