Which situation best describes the role of businesse in the circular flow of goods

Flexible Budgeting At the beginning of the period, the Fabricating Department budgeted direct labor of $9,280 and equipment depr

andriy [413]

Answer:

$11,000

Explanation:

Fabricating Department budgeted direct labor = $9,280

Depreciation remains constant at any level of production.

Budgeted labor rate = Budgeted direct labor ÷ Hours of production

= $9,280 ÷ 640

= $14.5 per hour

Direct labor cost = completed hours of production × Budgeted labor rate

= 600 × $14.5

= $8,700

Budget for the Fabricating Department at 600 hours of production:

Budgeted cost = Direct labor cost + Equipment depreciation

= $8,700 + $2,300

= $11,000

4 0

2 years ago

a. The Gap purchased inventories totaling $10,438 million during fiscal 2015. Use the financial statement effects template to re

BartSMP [9]

Question Completion:

The GAP is a global clothing retailer for men, women, children, and babies. The following information is taken from The Gap's fiscal 2015 annual report.

Selected Balance Sheet Data ($ millions)

2015 2014

Inventories $1,901 $1,861

Accounts Payable 1,140 1,145

Answer:

The Gap

a) Cost of Goods Sold: $10,398

The cost of goods sold increases the Expenses and reduces the Net Income in the Income Statement.

b) The cash paid to suppliers is $10,443.

Explanation:

Data and Calculations:

Accounts Payable

Beginning balance $1,145

Purchases 10,438

Payment 10,443*

Ending balance 1,140

*Payment = Beginning balance Plus Purchases Minus Ending balance.

Cost of Goods Sold:

Beginning Inventories $1,861

Purchases 10,438

Ending Inventories (1,901)

Cost of goods sold $10,398

6 0

2 years ago

The minimum possible value of the "Frequency of Championships" Herfindahl-Hirschman Index is:__________.

Virty [35]

Answer:

1/N

Explanation:

Herfindahl-Hirschman Index is used to measure the market concentration and market competitiveness of firm(s).

A major advantage of this index is that it is easy to calculate while using small amount of data required for calculation.

It been used by government agencies such as the U.S. Department of Justice for cases involving mergers and acquisition.

Since we are concerned with the minimum possible value we divide $\frac{1}{N}$ .

7 0

2 years ago

Why scarcity and choice are basic economic problems faced by every Society??

Ksju [112]

The basic economic problem is that of scarcity and choice. This is because people have infinite wants in the face of limited resources, therefore decisions have to be made. The basic economic problem ensures that every society has to decide what to produce, how best to produce it, and for whom to produce it.

3 0

2 years ago

Silver Screen Cinemas Inc. and Digi Now Inc. are two companies that own and run movie theaters in malls and other commercial are

Gennadij [26K]

Answer: Option B is correct.

Explanation:

The option A is incorrect because Silver screen cinemas are competing on prices which shows that it will charge lower prices than the supplier who is offering differentiated products and is in similar line of business.

Option B is correct because though both of these companies are in similar type of industry but their customer segments are different from each other. Digi Now Inc. is offering services to upper class whereas the Silver Screen Cinemas Inc. is offering to people who have lower purchasing power.

Option C is incorrect because Digi Now Inc. is offering services to upper class, which means it will charge higher prices for superior customer services. Silver Screen Cinemas Inc. will charge lower prices for lower level of customer services.

Option D is incorrect because one is competing on quality whereas the other is competing on cost. So it is impossible for the one who is competing on cost to offer everything to everyone.

8 0

2 years ago