Answer: $74100
Explanation:
Based on the information given, the amount of cash expected to be collected in October will be calculated thus:
October, credit sales will be:
= 60% x $247000
= $148200
Since the amount that'll be collected in October will be 50% of the credit sales. This will be:
= 50% × $148200
= $74100
When milk has an absolute advantage in the production of two goods over Tommy, Milk IS MORE PRODUCTIVE IN PRODUCING BOTH GOODS THAN TOMMY.
A country or an individual is said to have absolute advantage in producing a good if the person can produce the good more efficiently economic wise.
Answer:
C) Central banks finance large government budget deficits
Explanation:
Hyperinflation is when general price level rise at accelerating high rates. This leads to loss in real value of currency, people tend to substitute it by other stable currency holdings.
An important cause of Hyperinflation is Deficit Financing. This means government generating funds, by bank issuing (printing) new currency. It is done to cover the deficit, the excess of government expenses over its revenues.
Increase in currency money supply, by borrowing from central bank - raises Aggregate Demand & general price level at a very rapid rate, i.e Hyperinflation
The correct answer is retailing.
Retailing is the process of selling goods and services to individuals for their personal use. You have stores, which are considered to be retailers of particular goods and services, and then you have customers who go there to buy those goods and services.
Answer:
1. Total cost of purchases for the month
- = actual purchases x actual price = 200,000 pages x $0.175 per page = $35,000
2. Materials price variance
- = (actual unit cost - standard unit cost) x actual quantity used = ($0.175 - $0.17) x 185,000 = $925 unfavorable
3. Materials quantity variance
= (actual quantity used - standard quantity allowed) x standard price = (185,000 - 170,000) x $0.17 = $2,550 unfavorable
4. Net materials variance
- = materials price variance + materials quantity variance = $925 + $2,550 = $3,475 unfavorable
Explanation:
Actual purchase price $0.175 per page
Standard quantity allowed for production 170,000 pages
Actual quantity purchased during month 200,000 pages
Actual quantity used during month 185,000 pages
Standard price per page $0.17 per page
