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san4es73 [151]
3 years ago
6

​​Marlin lives in a country where individuals may own their own property and the factors of production, however, the government

lays very heavy taxes on individuals and businesses and uses the taxes to provide life-long pensions to each citizen in accordance with their economic need. The government also provides almost free medical and dental services and education through college. This kind of economic system could best be described as ________.
Business
1 answer:
Anna11 [10]3 years ago
6 0

Answer:

The correct answer is mixed.

Explanation:

In a mixed economy, most economic decisions are resolved through the interaction of sellers and consumers in the market (supply and demand law). However, the State has an essential complementary role.

Therefore, in this mixed system, most decisions are made by private agents of the economy (households and businesses), who decide what, how and where to produce. But at the same time, the actions of the State are also present, covering market failures, such as providing the public with public goods or redistributing wealth through taxes and subsidies to establish a more equitable society.

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Bunker makes two types of briefcase, fabric and leather. The company is currently using a traditional costing system with labor
WARRIOR [948]

Answer:

$93,750

Explanation:

Required: "<em>Calculate the overhead assigned to the fabric case using the traditional costing system based on direct labor hours."</em>

<em />

Total estimated overhead costs (A) = 150,000

Total labor hours (B) = 15,000 + 9,000 = 24,000

Overhead allocation rate (C) = A/B = 150,000/24,000

Overhead allocation rate (C) = $6.25 Per labor hour

Total labor hours used by Fabric case (D) = 15,000 Hours

Overhead assigned to the fabric case (C*D) = $6.25 Per labor hour * 15,000 Hours = $93,750

5 0
3 years ago
Exercise 8-7 At December 31, 2018, Concord Corporation Company had a credit balance of $18,800 in Allowance for Doubtful Account
Marina86 [1]

Answer:

Dr Allowance $13,500

Cr Accounts Recivable $13,500

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

Dr Cash $3,500

Cr Accounts Rec $3,500

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

Explanation:

Preparation of the journal entries to record the 2019 transactions of Concord Corporation Company

Dr Allowance $13,500

Cr Accounts Recivable $13,500

(To record amount written off)

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

(To reverse write-off)

Dr Cash $3,500

Cr Accounts Rec $3,500

(To record collection of writeoff)

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

[$30,700-($18,800-$13,500+$3,500)]

8 0
3 years ago
Padco averages $15 million worth of inventory in all of its worldwide locations. They operate 51 weeks a year and each week aver
Phoenix [80]

Answer:

Option (d) is correct.

Explanation:

Given that,

Average inventory in all of its worldwide locations = $15 million

Operate in a year = 51 weeks

Weekly cost of goods sold = $3 million

Annual cost of goods sold:

= Weekly cost of goods sold × Number of weeks in a year

= $3 million × 51 weeks

= $153 million

Inventory turnover:

= Cost of goods sold ÷ Average inventory

= $153 million ÷ $15 million

= 10.2 turns

4 0
3 years ago
You plan to save $2,400 a year and earn an average rate of interest of 5.6 percent. How much more will your savings be worth at
mixas84 [53]

Answer:

If the deposits are made at the beginning of the year, the future value will increase by $18,821.1.-

Explanation:

Giving the following information:

Annual deposit= $2,400

Interest rate= 5.6%

Number of periods= 40

<u>First, we will calculate the future value when the deposits are made at the end:</u>

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {2,400*[(1.056^40) - 1]} / 0.056

FV= $336,091.14

<u>Now, if the deposits are made at the beginning:</u>

FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}

FV= 336,091.14 + [(2,400*1.056^40) - 2,400]

FV= 336,091.14 + 18,821.10

FV= $354,912.24

Difference= 354,912.24 - 336,091.14

Difference= $18,821.1

If the deposits are made at the beginning of the year, the future value will increase by $18,821.1.-

8 0
3 years ago
What is the real advantage to a franchise? They already have all of their signs and menus prepared. When a company is able to of
11111nata11111 [884]

Answer:  When a company is able to offer a good product and enjoy strong customer demand, a franchise owner not only is able to take advantage of the corporate identity but its strong customer base, as well.

A franchise is a kind of a license which allows the party who acquires it (franchisor) access to an business' (franchisor's) proprietary knowledge and processes  in order to sell products or provide services under the franchisor's name.

A franchisee associates itself with a well proven business model and gains access to the franchisor's customer base. Additionally, the franchisor provides  assistance by training the franchisee and his personnel to provide a uniform product or service experience to customers across all the stores.

All these factors help in eliminating business risk and this constitutes a real advantage to a franchise.

6 0
3 years ago
Read 2 more answers
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