<u>Smallville will import 2000 units. </u>
Using the equations given, calculate supply and demand for that price and then find the difference between the 2 to see if you will need to import to meet supply or export to get rid of extra supply.
Find demand at the given price:
p =5000-.5Q
3000 = 5000- .5Q (subtract 5000 from both sides)
-2000 = -.5Q (now divide by -.5 on both sides)
Q = 4000
So at the Price of $3000, quantity demanded (Q) will be 4000
Now, find quantity supplied at the same price:
P = 1.5Q
3000 = 1.5 Q (divide both sides by 1.5)
Q= 2000
Compare these two numbers. At a price of $3000, we know there will be a <u>demand of 4000 </u>units and a <u>supply of only 2000 </u>units. To meet demand, Smallville must import 2000 units.
Answer:
Image distance = 60 cm
Explanation:
Object distance from a convex lens = 20 cm
Focal length of convex lens = 15 cm
Use the following relation between the object distance, focal length and image distance.
Therefore,
Image distance = 60 cm
Answer:
Using FIFO to calculate inventory amounts when costs are rising:
Unit Unit Cost Total Cost
Jan. 1 Beginning inventory 58 $ 50 $ 2,900
Apr. 7 Purchase 138 52 7,176
Jul. 16 Purchase 208 55 11,440
Oct. 6 Purchase 118 56 6,608
522 $ 28,124
b) Less Cost of Sales 444 $ 23,756
a) Ending Inventory 78 56 $ 4,368
c) Sales 444 68 $30,192
Cost of Goods Sold 444 $23,756
d) Gross Profit $6,436
Explanation:
FIFO is one of the methods for computing inventory. It is First in, First Out based on the concept that goods that were purchased first would be the first to be sold. When there are rising prices and goods are of perishable nature, it makes sense to sell the goods that were bought first.
Answer:
The answer is: Stone can report $8,750 as deferred income tax liability
Explanation:
Deferred income tax liability: income tax owed by a business that is put off into future years because a difference exists between GAAP accounting (in this case book depreciation) and income tax accounting.
The deferred tax liability is based on the difference on depreciation. Since 20x9 is Stone Co.'s first year of operations, the depreciation difference in this year must equal the net future depreciation difference.
To calculate the deferred tax liability balance we take the difference in depreciation and multiply it by the future tax rate: $25,000 x 35% = $8,750.
Answer:
The answer is B.
Explanation:
To be risk averse means not wanting to take risk or not chosing higher returns with unknown risks. but rather going for lower returns with known risks.
Moe receives a job offer of $40,000.
Now let's calculate the expected returns using the percentage given and the corresponding amount.
25perecent of $30,000 + 50percent of $40,000 + 25percent of $50,000
$7,500 + $20,000 + $12,500
$40,000
The expected value from the data and the salary given are the same, so he should accept the job if he is risk averse.
