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3 years ago

_________ occurs when a good or service is produced at the lowest possible cost.

Business

2 answers:

Sergio [31]3 years ago

8 0

Answer:

The correct answer is letter "C": Productive efficiency.

Explanation:

Productive Efficiency is a point where an economy cannot increase the output of a good or service without lowering another product's production level. An economy operating along its <em>Production Possibility Frontier</em> (PPF) has been optimizing its efficiency in production.

<em>Productive Efficiency is achieved with the lowest possible cost of producing goods. In such a case, economists and companies try to manufacture goods using the fewest available resources.</em>

kolbaska11 [484]3 years ago

3 0

Answer:

The correct option is C,productive efficiency

Explanation:

Allocative efficiency occurs when goods are produced to reflect the preferences of the consumers.This means that the producers are not concerned about deploying their resources in the most efficient manner as the overriding point is the satisfaction of customers' expectations.Hence option B is wrong.

Voluntary exchange refers to process of suppliers and customers engaging in business transactions with freewill.

However,productive points to effective and efficient allocation of resources to yield maximum output and at the lowest possible cost per unit.No doubt option C is the correct answer.

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Data-driven decision making is a process of

maxonik [38]

Planning, collecting, analyzing, and using data to improve your work. l

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3 years ago

Argon Chemicals had a total overhead amount of $47,200 during the month of June. Of that total, 58% was related to the factory,

andreyandreev [35.5K]

Answer:

(C ) debit; $27,376.

Explanation:

The 58% portion related to factory expenses and should be charged to Manufacturing Overhead (DR) as an indirect expense. This should be absorbed as part of production costs.

The Balance of 42% will be charged as general depreciation on office building.

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3 years ago

Russell Enterprises acquired a franchise from Michael Incorporated for $300,000. The franchise agreement is for a period of six

Alexeev081 [22]

Answer:

The reported book value of the franchise will be $200000

Explanation:

An intangible asset is an asset that lacks a physical substance. The value of an intangible asset is amortized just as the value of a tangible/physical asset is depreciated.

The straight line amortization charges a constant amortization expense through out the expected useful life of the intangible asset.

The formula to calculate the straight line amortization per year is,

Amortization expense per year = Cost / Expected Useful life

Amortization expense per year = 300000 / 6 = $50000 per year

The book value of an asset is the value after deducting the accumulated depreciation/amortization from the cost.

Book value = cost - accumulated depreciation or amortization

Book value = 300000 - (50000 * 2) = $200000

5 0

3 years ago

Sam's business will cost $49,500 to set up and run for the first year. Sam then expects an annual operational expense total of $

BabaBlast [244]

Answer:

Within 2 years

Explanation:

1st year of Sam's business:

Operational expense = $30,500

Profit = $45,000

Business set up costs = $49,500

Overall business profit (Loss) = $(4,500)

2nd Year of Sam's business:

Since the profit will be increased by 5.5%, the new profit after operational expenses will be $45,000 + $(45,000 x 5.5%) = $47,475

Therefore, the overall profit = Last year's loss + This year's profit = $(-4,500+47,475) = $42,975

Therefore, he can achieve the overall profit within 2 years' of operation.

4 0

3 years ago

Companies can and often do use different costing methods for financial reporting and tax reporting. An exception to this is the:

nignag [31]

Answer:

LIFO conformity rule.

Explanation:

LIFO refers to the Last in first out method. In this inventory system, the firm sells last units at first stage and then sells according to that

According to the given situation, the LIFO conformity rule requires that the taxpayer follow the same inventory cost flow as used for tax reporting purposes in the financial statement.

Therefore the correct answer is LIFO conformity rule.

7 0

3 years ago