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3 years ago

Select which of the ways that entrepreneurs improve the economy is being described:

Business

1 answer:

8_murik_8 [283]3 years ago

4 0

Answer: (B) Demand for products

Explanation:

The demand for the products is basically refers to the process in which the amount of the specific products are get purchased for the particular price so that the one business organization increase their productivity and the other business meets its specific requirement.

There are basically five factors which determine the demand of products function in an organization are as follows:

Income of the buyer
Price
Customer choice
The actual price of the related other products
Future supply expectations

Therefore, Option (B) is correct.

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What are some Financial sources that are NOT reliable! plz help i will give 19 to the brainilest

Aleksandr-060686 [28]

Answer: See on how dependent on advertising a publication is.

Explanation:

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2 years ago

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Some countries share a common currency (e.g., those that participate in the euro), while some other countries peg their currenci

nikklg [1K]

Answer:

The potential of additional regional currencies such as the euro is very important, and for this reason, many economists support the idea. In fact, John Maynard Keynes, one of the most influential economists in history, once proposed not a regional common currency, but a common global currency.

The potential lies in the fact that regional currencies allow to coordinate a common monetary policy in several countries. This common policy means that several countries now have the same interest rates, the same rate of inflation, and the same currency itself, and all these commonalities facilitate the exchange of goods and services.

While the Euro has had drawbacks since its inception, the Euro has survived, and is now one of the strongest curriencies in the world.

If you support the concept, should those currencies be tied to regional economic blocs?

I support the concept, and I agree that they should be tied to regional economic bloc. It would not be very effective to adopt a common currency for countries that are not economically integrated in other areas.

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3 years ago

Why is body language an important indicator in business meeting

Andrews [41]

Answer:

Body language is necessary to read other people's true feelings and intentions. It helps you connect with them and build better relationships. In a meeting context, it helps to see the reactions of the participants: a facial expression can reveal a point of view before a word is spoken

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3 years ago

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Prepare adjusting entries for the following transactions.

g100num [7]

Answer:

1. Debit Depreciation expense $1,340

Credit Accumulated depreciation $1,340

2. Debit Interest expense $275

Credit Accrued Interest $275

3. Debit Supplies expense $450

Credit Supplies Account $450

4. Debit Unearned Service revenue $3,100

Credit Service revenue $3,100

5. Debit Salaries expense $900

Credit Accrued Salaries $900

Explanation:

Depreciation is the systematic allocation of the cost of an asset to the income statement over the estimated useful life of that asset.

It is determined as the depreciable value of the asset over the estimated useful life of the asset where the depreciable value is the difference between the cost and salvage value of the asset

Mathematically,

Depreciation = (Cost - Salvage value)/Estimated useful life

It is recorded by debiting depreciation and crediting accumulated depreciation.

When interest is incurred as an expense but yet to be paid, it will be accrued for by Debiting Interest expense and crediting accrued Interest. The same applies to salaries incurred but yet to be paid.

When Supplies is purchased, Debit supplies and credit Cash/Accounts payable. As Supplies are used up, debit supplies expense (with the amount used) and Credit Supplies account.

Amount of supplies used up = $550 - $100

= $450

When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are

Debit Cash account and Credit Unearned fees or deferred revenue.

As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.

Earned revenue = $4,000 - $900

= $3,100

5 0

3 years ago

Road Gripper Tire Co. manufactures automobile tires. Standard costs and actual costs for direct materials, direct labor, and fac

Nezavi [6.7K]

Answer:

Answer is explained in the explanation section below.

Explanation:

Solution:

In part a, we need to find the following 3 requirements:

1. Direct Materials Price Variance

2. Direct Materials Quantity Variance

3. Total Direct Materials Cost Variance

Direct Materials Price Variance:

It can be calculated by using the following formula:

DMPV = AQ multiplied by (AP minus the SP)

Where,

DMPV = Direct Materials Price Variance

AQ = Actual Quantity

AP = Actual Price

SP = Standard Price

We do have all the data, so just plug in the values into the above equation to get the DMPV.

AQ = 101,000

AP = 6.50 USD

SP = 6.40 USD

So,

DMPV = 101,000 ( 6.50 - 6.40)

DMPV = 10,100 USD

Direct Materials Quantity Variance:

DMQV = SP ( AQ - SQ )

Where,

DMQV = Direct Materials Quantity Variance = ?

SP = Standard Price = 6.40 USD

AQ = Actual Quantity = 101,000

SQ = Standard Quantity = 100,000

Plugging in the values:

DMQV = 6.40 ( 101,000 - 100,000)

DMQV = 6400 USD

Total Direct Materials Cost Variance:

DMCV = SMC - AMC

Where,

DMCV = Direct Materials Cost Variance = ?

SMC = Standard Market Cost = 6.40 USD x 100,000

AMC = Actual market Cost = 6.50 USD x 101,000

DMCV = (6.40 USD x 100,000) - (6.50 USD x 101,000)

DMCV = 640,000 - 656,500

DMCV = 16,500 USD

For part b, we need following particulars:

1. Direct Labor Rate Variance (DLRV)

2. Direct Labor Time Variance (DLTV)

3. Direct Labor Cost Variance (DLCV)

Direct Labor Rate Variance (DLRV) :

DLRV = (ADLR - SDLR) x ADLH

Where,

ADLR = Actual Direct Labor Rate = 15.40 USD

SDLR = Standard Direct Labor Rate = 15.75 USD

ADLH = Actual Direct Labor Hour = 2000

So,

DLRV = (ADLR - SDLR) x ADLH

DLRV = (15.40 USD - 15.75 USD ) x 2000

DLRV = 700 USD

Direct Labor Time Variance (DLTV):

DLTV = ( ADLH - SDLH ) x SDLR

SDLH = Standard Direct Labor Hour = 2080

DLTV = ( 2000 - 2080 ) x 15.75 USD

DLTV = 1260 USD

Direct Labor Cost Variance (DLCV)

DLCV = SDLC - ADLC

SDLC = Standard Direct Labor Cost

ADLC = Actual Direct Labor Cost

DLCV = (1540 x 2000) - (15.75 x 2080)

DLCV = 1960 USD

For Part c, we need following:

1. variable factory overhead controllable variance (VFOCV)

2. fixed factory overhead volume variance (FFOVV)

3. Total factory overhead cost variance (TFOCV)

variable factory overhead controllable variance (VFOCV):

VFOCV = AFO - B

Where,

AFO = Actual Factory Overhead = 8200

B = Budgeted Allowance Based on Standard Hours Allowed = 4160x0.5x4

B = 8320 USD

VFOCV = 8200 - 8320

VFOCV = 120 USD

fixed factory overhead volume variance (FFOVV) :

FFOVV = (S - BH ) x SOR

Where,

S = Standard Hours for actual output = 4160 x 0.5

BH = Budgeted Hours = 2080

SOR = Standard Overhead Rate = 6 USD

FFOVV = (4160 x 0.5 - 2080) x 6

FFOVV = 0 USD

Total factory overhead cost variance (TFOCV):

TFOCV = AFO - SO

Where,

AFO = Actual Factory Overhead = 20,200

SO = Standard Overhead = 2080 x 10

TFOCV = 20,200 - ( 2080 x 10 )

TFOCV = 600 USD

7 0

3 years ago