Answer:
A price ceiling set at $6 will be binding and will result in a shortage of 8 units.
Explanation:
In order for a price ceiling to be binding, it must be set below the equilibrium price level. In this case, $6 is below the equilibrium price of $10. It will produce a shortage of 8 units because the quantity supplied by producers will be only 6 units, while the quantity demanded by consumers will be 14 units.
Binding price ceilings always produce a deadweight loss which is represented by the area between the demand curve and the supply curve left to the equilibrium price.
Answer:
$44,268
Explanation:
Calculation for What is the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours
First step is to calculate the Plant-wide Overhead Rate using this formula
Plant-wide Overhead Rate = Total Overhead / Total Direct Labor Hours
Let plug in the formula
Plant-wide Overhead Rate = $632,400 / 4,800 hours
Plant-wide Overhead Rate = $131.75
Now let calculate the total manufacturing overhead for the current product order
Using this formula
Current product order Total Manufacturing Overhead = Plant-wide Overhead Rate * Direct Labor Hours
Let plug in the formula
Current product order Total Manufacturing overhead= $131.75 *336 hours
Current product order Total Manufacturing overhead= $44,268
Therefore the total manufacturing overhead for the current product order if the firm uses a plantwide rate based on direct labor-hours will be $44,268
An inventory refers to a detailed list of materials and goods in stock. These items are to be later sold or repaired. It is important to perform an inventory and to take photos of the equipment for taxing purposes, i<span>n case of possible damage or theft, and when deciding whether to purchase additional equipment.</span>
Answer:
1. 166,000
2. 188,000
Explanation:
The budgeted accounts receivable balance on September 30 and Budgeted cash receipts for october n be calculated as follows
July
Opening -
Credit sales 240,000
Collection
20% of July 48,000
Closing 192,000
August
Opening 192,000
Credit sales 220,000
Total 412,000
Collection
20% of August 44,000
70% of July 168,000
Total receipts 208,000
Closing 200,000
September
Opening 200,000
Credit sales 180,000
Total 380,000
Collection
20% of september 36,000
70% of august 154,000
10% of july 24,000
Total receipts 214,000
Closing 166,000
October
Opening 166,000
Credit sales 200,000
Total 366,000
Collection
20% of October 40,000
70% of september 126,000
10% of august 22,000
Total receipt 188,000
Closing 178,000
The answer to your question is systems analysts.
