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yanalaym [24]
3 years ago
15

Recently, the level of gdp has declined by $60 billion in an economy where the marginal propensity to consume is 0.75. aggregate

expenditures must have fallen by select one:
a. $45 billion.

b. $30 billion.

c. $15 billion.

d. $60 billion.
Business
1 answer:
Paha777 [63]3 years ago
8 0

Answer:

a. $45 billion.

Explanation:

The aggregate expenditures must have fallen by = 0.75*$65 billion

                                                                                   = $45 billion

Therefore, The aggregate expenditures must have fallen by $45 billion.

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Answer:

Required 1

Debit : Finished Goods  $53,600

Credit : Work In Process $53,600

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Debit : Cash $60,000

Debit : Cost of Goods Sold $55,000

Credit : Sales $60,000

Credit : Finished Goods $55,000

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Debit : Overheads $4,000

Credit : Cost of Sales $4,000

Explanation :

Hi, I have attached the full question as a pdf below

<u>Manufacturing Costs Calculations :</u>

Job 101  = $19,200 + $28,800 + ($420,000/60,000 x1,000) = $55,000

Job 102  = $14,400 + $11,200 + ($420,000/60,000 x4,000) = $53,600

<u>Closing Overheads :</u>

Actual Overheads = $45,000

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Therefore,

Overheads are over-applied ( by $4,000) and must be deducted from cost of sales

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