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2 years ago

Which statement best explains the law of supply?

Business

2 answers:

Julli [10]2 years ago

8 0

Answer:

<h3>The answer is A</h3>

Explanation:

The quantity supplied by producers increases as prices rise and decreases as prices fall.

oee [108]2 years ago

5 0

(P.S. - in the future you will get better help when you add the possible answer choices!)

The law of supply states that, all other things equal/consistent) an increase in price will result in an increase in supply.

This is because as the price of a product goes up and up, more and more companies will be willing to sell it. The inverse is also true.. as the price goes down, fewer companies will bother selling the item.

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The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde

lakkis [162]

Answer:

1.Cost of direct material used =$168000

2.cost of direct labor used =$100000

3.Cost of goods manufactured =$396800

4.cost of goods sold =$422100

5.Gross profit = $577900

6.Under applied factory overhead =$84000

Explanation:

Direct labour= (D/L)

Direct material = (D/M)

Factory overhead =( FOH)

Raw material used = material (open) +purchased -material (end)

= 30000+194000-56000

= 168000.

Entry: Dr work in process 168000

Cr raw material 168000

Manufacturing cost = Raw material used + direct labor cost + factory overhead.

= 168000+100000+(16000+23000+100000) = $407000.

COGM= Manufacturing cost+work in process (open)-work in process (end)

= 407000+9900 - 20100 = $396800.

Applied factory overhead= direct labor * predetermined rate

= 100000*55% = $55000.

entry: Dr work in process 55000

Cr Applied factory overhead 55000.

Cost of goods sold = Cost of goods manufactured + finished goods (open) -finished goods (end).

= 396800+59000-33700 =$422100.

T-account

Raw material Work in process

Dr___________Cr__ __ DR ___________CR

30000-- (open) 9900 ----

194000--- (D/L) 100000 ---

---- 56000 (FOH) 55000 --- 20100

---- bal figure 168000 168000 -- bal fig 312800.

Actual factory overhead = $139000

Applied factory overhead =$55000

Under applied factory overhead = 84000.

Sales = 1000000

Less cost of goods sold = (422100)

Gross profit 577900

6 0

3 years ago

What does a Human Resources manager do

Sveta_85 [38]

Hello There!

A human resource manager is a person within a business/company or possibly an other organization and they handle and supervise personnel matters. These could include hiring, training and even firing.

7 0

2 years ago

Most four-year colleges want to see that you have participated in community service and extracurricular activities because?

yKpoI14uk [10]

It reflects positively on the college and it shows that you have respect for others are willing to help as well.

4 0

3 years ago

You were recently hired by RLM Inc. It is your job to prepare reports and analyze financial information related to the company.

Alex73 [517]

Answer:

d. management

Explanation:

Based on the job tasks described within the question it seems that you were recently hired as a management accountant. This role focuses on (like mentioned in the question) preparing reports and analyzing as much financial information as possible in order to best inform yourself, so that you can help you make the best and most strategic decisions for the organization. Which seems to by why RLM Inc. has hired you.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0

2 years ago

Abel Corporation uses activity-based costing. The company makes two products: Product A and Product B. The annual production and

Snezhnost [94]

Answer:

depreciable amor 10.95 dollars per Activity 2 base cost object.

Explanation:

$\frac{Activity\: Pool}{Activity \: base}= Activity\:Rate$

totoal expected cst: 35,040

activity 2 expected cost dirver Total 3,200

Activity rate: $35,040 cost pool / 3,200 driver expected amount = $10.95

7 0

2 years ago