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3 years ago

How does innovation promote economic growth?

1 answer:

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C. Innovation is the creation of new, original ideas. Inventors are usually described as innovative. New inventions create new markets.

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Suver Corporation has a standard costing system. The following data are available for June: Actual quantity of direct materials

Amiraneli [1.4K]

Answer:

$8.20 per pound

Explanation:

The computation of the actual price per pound is shown below:

Material price variance = (Standard price per pound - Actual price per pound) × Actual quantity purchased

-$7,000 = ($8.00 - Actual price per pound) × 35,000

$8.00 - Actual price per pound = -$7,000 ÷ 35,000

Actual price per pound = $8.20 per pound

Hence, the actual price per pound is $8.20 per pound

We simply applied the above formula so that the correct value could come

And, the same is to be considered

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3 years ago

Based on the following information, prepare the bank reconciliation for Cougar Corp. as of December 31. A. On December 31, Couga

True [87]

Answer and Explanation:

The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-

Cougar Corp.

Bank reconciliation

For the year ended December 31

Particulars Amount

Bank balance Dec 31 $24,575

Add: Deposit in transit $2,500

Less:

Outstanding checks #302 ($180)

Outstanding checks #303 ($95)

Outstanding checks #304 ($25) ($300)

Bank balance adjusted $26,775

Cash balance on 31 Dec $26,504

Add: EFT from customer $1,700

Add: Interest income $21 $1,721

Less: Posting error

($5,400 - $4,500) $900

Less: NSF check $500 $1,400

Book balance adjusted $26,775

Hence, the bank balance and the book balance are matched

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3 years ago

If a prospective home buyer simply changes his or her mind after putting up earnest money, he or she usually forfeits the money.

adell [148]

The answer for this question is true

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3 years ago

The City of Mayville had total fund balance in its General Fund of $200,000 on December 31, 2019. The City of Maysville's Genera

Svetradugi [14.3K]

Answer:

$38,000

Explanation:

Based on the information given we were told that the City General Fund balance sheet for the month of December 31, 2019 shows that inventory had the amount of $28,000 while prepaid rent has the amount of $10,000 which means that the amount of money that city will report as NOSPENDABLE fund balance in their general fund on December 31,2019 will be $38,000 calculated as ($28,000+$10,000).

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3 years ago

What is the difference between the short run and the long run?

Inessa05 [86]

Answer: Option D

Explanation: In simple words, short run refers to the time frame in which all the factors of production are fixed while in the long run all of them are variable.

This happens due to the fact that in the short run if the company goes for changing the level of inputs than the opportunity that were availing in that time period will be gone by then leading to losses as the total time frame is very less in short run.

On the other hand, firms tends to have greater life in the market and keeps developing themselves with the changing forces of market.

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4 years ago