1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Gekata [30.6K]
3 years ago
15

Value takes into account both benefits and price. If price remains the same but benefits increase, then __________. a. price wil

l likely decline soon. b. price will eventually go up. c. value will decrease. d. value will increase. e. value remains the same.
Business
1 answer:
Over [174]3 years ago
5 0

Answer:

The correct answer is letter "D": value will increase.

Explanation:

Economic value is the maximum amount an individual will pay for a given good or service. It is determined by the benefit and the price of a product. <em>As long as the benefits increase, so will the value</em>. The economic value is helpful at the moment of setting prices after which firms can make a profit.

You might be interested in
Garnett Co. expects to purchase $90,000 of materials in July and $105,000 of materialsin August. Three-quarters of all purchases
marissa [1.9K]

Answer: $101,250

Explanation:

Given that,

Expects to purchase material in July = $90,000

Expects to purchase material in August = $105,000

August's cash disbursements for materials purchases:

= 75% of August purchases + 1/4 of July purchases

= 0.75 × $105,000 + 0.25 × $90,000

= $78,750 + $22,500

= $101,250

7 0
3 years ago
The following hypothetical production possibilities tables are for China and the United States. Assume that before specializatio
Degger [83]

The following hypothetical production possibilities tables are for China and the United States. Assume that before specialization and trade the optimal product mix for China is alternative B and for the United States is alternative U. China Production Possibilities Product: A - B - C - D - E - F Apparel: 120,000 - 96,000 - 72,000 - 48,000 - 24,0000 Chemicals(tons): 0 - 24 - 48 - 72 - 96 - 120 U.S. Production Possibilities Product: R - S - T - U - V - W Apparel: 40,000 - 32,000 - 24,000 - 16,0000 - 8,0000 Chemicals(tons): 0 - 16 - 32 - 48 - 64 - 80a. Are comparative-cost conditions such that the two countries should specialize?

5 0
3 years ago
Purchased raw materials of $17,700 on account. (b) Incurred factory labor of $39,200. Of that amount, $29,400 relates to wages p
alekssr [168]

Answer:

Journal Entries:

a) Debit Raw materials inventory $17,700

Credit Accounts payable $17,700

To record the purchase of raw materials on account.

b) Debit Payroll expense $39,200

Credit Wages payable $29,400

Credit Payroll taxes payable $9,800

To record payroll expense.

c) Debit Factory utilities expenses $3,600

Credit Utilities payable $3,600

To accrue factory utilities expenses.

Debit Factory property taxes of $2,510

Credit Cash $2,510

To record payment of property taxes.

Debit Depreciation Expense, Factory building $9,600

Credit Accumulated Depreciation, Factory building $9,600

To record depreciation expense.

Explanation:

1) Data and Analysis:

a) Raw materials inventory $17,700 Accounts payable $17,700

b) Payroll expense $39,200 Wages payable $29,400 Payroll taxes payable $9,800

c) Factory utilities $3,600 Utilities payable $3,600

Factory property taxes of $2,510 Cash $2,510

Depreciation Expense, Factory building $9,600 Accumulated Depreciation, Factory building $9,600

3 0
2 years ago
During 2020, Desert Company introduced a new product carrying a two-year warranty against defects. The estimated warranty costs
tankabanditka [31]

Answer:

                 Estimated Warranty Liability December 31, 2020

                                                 Debit                                                 Credit

                                                                  Beginning balance          $0

Actual Warranty Expenditure $12,000    Estimated total cost of    $48,000

                                                                  Warranty $800,000*6%

Ending Balance                      $36,000

                                                $48,000                                             $48,000

                Estimated Warranty Liability December 31, 2020

                                                 Debit                                                 Credit

2021  Servicing Expense       $35,000    Beginning balance        $36,000

Ending Balance                      $61,000     Estimated total cost of  $60,000

                                                                  Warranty $1,000,000*6%

                                                $96,000                                             $96,000

So, the company should report an estimated warranty liability of $61,000 at Dec 31, 2021

3 0
2 years ago
"Kilian Company's inventory balance at the end of the current year does not include $10,000 of inventory that was stored in a se
makvit [3.9K]

Answer:

understated assets, retained earnings, and net income

Explanation:

As in the given case, the inventory balance at the end of the year does include the $10,000 of inventory plus it also excluded from the physical count

So, if the error is not found, the effect of this error is assets are understated instead of overstated which results the retained earnings and the net income understated

4 0
3 years ago
Other questions:
  • Kline Corp. recognizes revenue over time to account for long-term contracts. The contract price is $5 million, total constructio
    5·1 answer
  • The security model for Universal Containers in Private for the Case object. When a support case is raised by a user with the Cus
    5·1 answer
  • Government company meaning
    9·2 answers
  • You’ve recently learned that the company where you work is being sold for $300,000. The company’s income statement indicates cur
    14·1 answer
  • Those who implement the policies and plans of top management above them and supervise and coordinate the activities of the first
    7·1 answer
  • What is the argument in this formula? =AVERAGE(B11:H14) AVERAGE H11 B11:H14 B11
    10·1 answer
  • A machine was purchased for $35,500, having a useful life of 10 years, and a residual value of $6,000. Compute the annual deprec
    15·1 answer
  • What's the future value of an investment of $1 a year for each of 4 years, at the end of the last year? Suppose the interest rat
    9·1 answer
  • Charlie Corporation's adjusted trial balance included the following items (all account balances are normal): Accounts payable $6
    6·1 answer
  • Jennifer couldn't believe her bad luck. The business planning cycle at Allworld Insurance was almost over. The only thing her bo
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!