Answer:
The local governing body will use the assessed taxes to fund water and sewer improvements and provide law enforcement, fire protection, education, road and highway construction, libraries and other services that benefit the community.
Answer: $178,000
Explanation:
The following information can be derived from the question:
We have to first calculate the total manufacturing cost. This will be:
Direct material 29000
Add: Direct labor 58000
Add: manufacturing overhead 82000
Then the manufacturing cost will be:
= 29000 + 58000 + 82000
= 169000
We then add the beginning work in progress and then subtract the ending work in progress. This will be:
Manufacturing cost = 169000
Add: Beginning WIP = 66000
Less: Ending WIP = 57000
= 169000 + 66000 - 57000
= $178,000
Answer:
a lot of money was spent this year
Answer: Option (d) is correct.
Explanation:
Correct option: Market price is greater than marginal cost.
In a perfectly competitive market, there are large number of buyers and sellers. So, price is determined by the market forces.
At a point of profit maximization, price is equal to the marginal cost and we have to maximize the difference of the total revenue and total cost. It was not seen in a perfectly competitive market that the price is above the marginal cost at a profit maximizing point.
Therefore, option (d) is not true.
