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3 years ago

What are financial obligations or money that a business needs to pay others in the future called?

Business

1 answer:

garik1379 [7]3 years ago

6 0

Answer:

Liabilities

Explanation:

In economic terms, liabilities are the obligations that are to be paid by one authority to another in the future. They are owned by the company which is left to be settled in the future. The liabilities can be paid off through the means of money, goods, or services. They also include loans, revenues, and accrued expenses.

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Assume the following: The standard price per pound is $2.00. The standard quantity of pounds allowed per unit of finished goods

adell [148]

Answer:

Direct material price variance= $12,500 unfavorable

Explanation:

Giving the following formula:

The standard price per pound is $2.00.

The actual quantity of materials purchased and used in production is 50,000 pounds.

The actual purchase price per pound of materials was $2.25.

<u>To calculate the direct material price (spending) variance, we need to use the following formula:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 2.25)*50,000

Direct material price variance= $12,500 unfavorable

6 0

3 years ago

If your answer is zero, enter "O". a. Under a 2017 divorce agreement, Joan is required to pay her ex-husband, Bill, $2,340 a mon

scoundrel [369]

Answer:

$2,400 in 2019 are deductible as alimony.

Step-by-step explanation:

Hillary get divorced in the year = 2016

She has to pay her ex-spouse $200 per month until her son reaches 18 years of age in 7 years.

His son will reach of the age of 18 = 2016 + 7 = 2023

She has to pay $200 till 2023 and $120 thereafter.

Her payments are deductible as alimony in 2019 would be = $200 × 12

= $2,400

$2,400 in 2019 are deductible as alimony.

4 0

3 years ago

Beth is a retired teacher who lives in dallas and does some consulting work for extra cash. at a wage of $40 per hour, she is wi

Ipatiy [6.2K]

Price Elasticity of Supply. The price elasticity of supply is calculated as the percentage change in quantity divided by the percentage change in price.
Using the Midpoint Method
PES = ((Q2-Q1) / ((Q2 + Q1) / 2)) / ((P2-P1) / ((P2 + P1) / 2))
PES = (((10) - (7)) / (((10) + (7)) / 2)) / (((50) - (40)) / (((50) + (40)) / 2))
PES = 1.59
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%
answer:
the elasticity of beth's labor supply between the wages of $ 40 and $ 50 per hour is approximately 1.59
In this case, to 1% rise in price causes an increase in quantity supplied of 1.59%

4 0

3 years ago

Suppose a worker in Peru can produce 11 lamps or 4 dressers in a day and a worker in Canada can produce 15 lamps or 6 dressers i

wolverine [178]

Answer:

4/11 and 6/15 dressers.

Explanation:

Absolute advantage is the ability of a country to produce more of a product given the same resources than another country per unit time. It also applies when a country is able to produce same amount of goods with another country given less inputs.

So a country that produces more goods uses a more efficient process to get more output.

In this scenario a worker in Peru can produce 11 lamps or 4 dressers in a day and a worker in Canada can produce 15 lamps or 6 dressers in a day. Canada has absolute advantage in producing lamps and dressers, so importing these items will not be beneficial.

To get a balance where both countries will benefit a lamp will have to go for a ratio of each countrie's product to the opportunity cost.

That is for Peru to produce 4 dressers it will have opportunity cost of 11 lamps. So the ratio is 4/11.

Also for Canada to produce 6 dressers it will have opportunity cost of 15 lamps. So the ratio is 6/15.

Lamp should trade for between 4/11 to 6/15 dressers for both countries to benefit.

4 0

3 years ago

company manufactures pillows. the operating budget was based on production of pillows, with machine-hours allowed per pillow.

MatroZZZ [7]

a. The budgeted variable overhead is $468,750.

b. The variable overhead spending variance is $38,100 Favorable

c. The variable overhead efficiency variance is $30,000 Favorable

<h3>What is variable overhead?</h3>

Variable overhead is a cost of running a business that varies with operational activity. Variable overheads rise and fall in lockstep with production output. Overheads, such as administrative overhead, are often a set cost.

The variable manufacturing overhead controllable variance reflects how effectively the company stuck to its budget. The difference between the planned fixed overhead at normal capacity and the standard fixed overhead for the actual units produced is the fixed factory overhead volume variance.

a. The budgeted variable overhead for 2017 = Budgeted hours * Variable overhead rate per hour

= (25000*0.75)*$25 = $468,750

b. Variable overhead spending variance = (SR - AR) * AH = ($25 - $23) * 19050 = $38,100 Favorable

c. Variable overhead efficiency variance = (SH - AH) * SR = (27000*0.75 - 19050) * $25 = $30,000 Favorable

Learn more about budget on:

brainly.com/question/8647699

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4 0

1 year ago