<span>It is true. Texas legislators need adequate time to gather accurate information and carefully analyze the budget now that it is operating in a two-year cycle</span>
<span>Texas lawmakers voted to approve the bill in 85th legislative session because time is running. Texas faces funding shortages due to slumping oil and gas revenues. And the state needs to the budget of $217 billion in this tight economic times. </span>
Answer:
$60
Explanation:
According to information on your question. We are to note that an absence or reduction of suppliers could lead to lower supply.
As in this case, the producer supply loss of $60 was incurred as some sellers dropped out of the market as a result of the tax.
Answer:
Income under absorption costing = $1,100,000
Explanation:
Marginal and absorption costing are two different methods to deal with fixed production overheads and and decide whether or not they are included in valuation of inventory.
<u>Valuation of inventory</u>
Opening and closing inventory are valued at variable cost under variable costing. Whereas in absorption costing, opening and closing inventory are valued at full production cost (including fixed production overheads).
<u>Reconciling profits reported under two different methods</u>
When inventory levels increase or decrease during a period then profits will differ under absorption and marginal costing because of fixed production cost.
Net Income under absorption costing = Income under variable costing + fixed production cost in ending inventory – fixed production cost in beginning inventory
= $1,050,000 + $300,000 - $250,000
= $1,100,000
Answer: D. Smaller measure of tolerable misstatement.
Explanation:
The sample size simply means the number of participants that are included in a study. They're the group of subjects which are picked and selected from the population and represents the general population for that study.
From the options given, it should be noted that a smaller measure of tolerable misstatement will lead to a larger sample size.
