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4 years ago

Economics concerns the allocation of resources for which processes?

1 answer:

5 0

Production and Distribution. Economics is concerned with how to produce goods and services using limited resources, and most efficiently distribute these products to maximize the benefit of everyone.

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Indigo Construction Inc. agrees to construct a boat dock at the Smooth Sailing Marina for $43,700. In addition, under the terms

pogonyaev

Answer: The transaction price that Indigo should compute for this agreement = $54,260

Explanation:

First , we'll evaluate Variable consideration using expected value method.

The probability of time completion is 60%

The consideration (performance bonus) = 12,000;

∴ Expected consideration = 60% of 12000 = $7,200 

Probability of completing the project one week late = 20%

The consideration = 9600

∵ The performance bonus reduces by 2400 for delay of a week;

∴ Expected consideration = 20% of 9600 = $1920

Similarly, for a delay of 2 weeks,

Expected consideration = $1,440 

So, the total expected consideration comes to 10,560/-

Transaction price = contract cost + Variable consideration

=43700+(12000 × 0.6+ 9600 × 0.2 + 7200 × 0.2)

=$54,260

3 0

4 years ago

What do mean inter branches transaction ?

expeople1 [14]

Cat foodstuffs ahgsusysush

5 0

4 years ago

Read 2 more answers

The 2020 accounting records of Novak Corp. reveal these transactions and events.

anastassius [24]

Answer:

Statement of Cash Flows (Direct Method)

For Year Ended December 31, 2020

Particulars Amount

Cash Flows from operating activities:

Cash Receipts from:

Customers ($50800+ $190100) $240,900

Dividend Revenue $18,800 $259,700

Less: Cash payments:

For Interest -$10,000

For Income Taxes -$16,900

To suppliers for Merchandise -$115,600

For Salaries and wages -$57,100

For Operating Expenses -$28,300 -$227,900

Net Cash provided by operating activities $31,800

4 0

3 years ago

According to economists, when two people make the exactly opposite decision:

disa [49]

Answer:

b. each person evaluates the situation according to his/her individual self-interest.

Explanation:

This can be generally seen in ancient and modern form of economics where in the course of their works, they can end up countering themselves in the midst of a project.

Here, or in a case of such, a great part of economics deals and accommodates psychology an the both economics that have probably found themselves in the field are expected to evaluate the situation according to each others self interest; especially when knowing the risks, pros and negative effect of the activities that is been carried out.

Secondly, this model is a useful measurement device by which economic situations can be evaluated and also levels of competition that exist in real markets can be checked.

6 0

4 years ago

Large aircraft producers such as the Boeing Company normally use: Select one: a. Job order costing. b. Process costing. c. Mixed

insens350 [35]

Answer: Job order costing

Explanation:

The costing of work orders or job costing refers to the method for distributing and collecting production costs to a specific production unit. The costing method for job orders is implemented when the different items generated vary significantly from one another and each one has a substantial cost.

The job cost documents also perform as the conglomerate ledger for the expense of the job-in-process stock, the stock of finished products, and the charge of selling products to the supplier. Because there is a considerable difference in the produced goods, a separate department order cost report for each individual item is required for the job order pricing system.

8 0

3 years ago