Answer:
In the absence of technological innovation, massive capital investments yielded diminishing marginal returns.
Explanation:
The economy of the Soviet Union was a command economy where the government decided how resources would be allocated. The four factors of production are land, labor, capital and entrepreneurship. In a command economy, entrepreneurship is virtually nonexistent, so that leaves three factors: land, labor and capital.
The government allocated a lot of resources into increasing the capital factor, but capital factor will always yield diminishing marginal returns unless new technological innovations are developed. During many years, the Soviet Union was the technological leader of the world, but as time passed and with a complete absence of entrepreneurship, technological advances halted.
Dividing tasks between employees always eliminates the possibility of collusion, but this is wrong.
Segregation of duties is important for effective internal control because it reduces the risk of errors or improper conduct. Preventing collusion helps fight fraud.
Separation of duties is an important practice to reduce the occurrence of errors and fraud by ensuring that employees do not have the opportunity to commit or conceal errors or fraud in the performance of their duties. That is internal control.
Separation of duties reduces the risk of fraud or misconduct as each affected employee has access controls and restrictions in place. Task division is delegating different steps of the process to different people to delegate important functions.
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Answer: $3,570,000
• assets installation, shipping and installation costs.
Explanation:
The The total cost of Alexander's new equipment will be calculated thus:
= $3,400,000 + $170,000
= $3,570,000
The coat of the new equipment consist of (assets installation, shipping and installation costs).
Answer:
700 units
Explanation:
FC1 : Fixed Costs from process 1
VC1 : Variable cost per unit from process 1
FC2 : Fixed Costs from process 2
VC2 : Variable cost per unit from process 2
FC1 = $50,000
VC1 = $700 per unit
FC2 = $400,000
VC2 = $200 per unit
To calculate the break-even (quantity) point we must equate the TC1 (Total cost of process 1) to TC2 (Total cost of process 2)
TC1 = TC2
FC1 + VC1(y) = FC2 + VC2(y) where y is the break-even units
50,000 + 700y = 400,000 + 200y
500y = 350,000
y = 350,000 / 500
y = 700 Units
Assuming that you wanted to know how to journal this, it would be :
Dec. 31
Debit Credit
Income Summary $ 188,000
Retained Earning $ 188,000
