Answer:
The correct answer is $12,060.
Explanation:
According to the scenario, the given data are as follows:
Production in June = 400 units
Production in July = 410 units
Each unit required = 5 pounds
Cost per pound = $6
So, June required raw material = 400 units × 5 pounds = 2000 pounds
For July required raw material = 410 units × 5 pounds × 20% = 410 pounds
So, required total raw material for June = 2000 pounds + 410 pounds - 400 pounds ( already in inventory)
= 2010 pounds
So, the total cost required for raw material in June = 2010 pounds × $6
= $12,060
Hence, the budgeted cost of purchases for raw material K for June is $12,060.
The simple circular flow model shows that workers, landowners, and owners of capital offer their services through resource(or Factor) markets. Thus, option (b) is correct.
What is circular flow model?
An economic model that depicts how money moves across the economy is the circular flow model. Businesses need resources to generate the goods and services that households and households buy.
The circular flow model is the based on the business and the households. The four factors of the recourses to the labor, entrepreneurship, land, and capital) these are the mainly used in the business to manufacturer their goods and produces the services.
As a result, the circular flow model are resource (or Factor) markets. Therefore, option (b) is correct.
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Your question is incomplete, but most probably the full question was.
a) Product markets.
b) Resource(or Factor) markets.
c) Employment Agencies.
d) Business Firms.
Answer:
The answer is option B) Frictional unemployment is inevitable because the economy needs to be lubricated.
Explanation:
Frictional unemployment is different from others in happens as a result of employees seeking out better opportunities. They could leave voluntarily or be fired from their current jobs but its is for a greater good- which is a quest for better economic opportunity.
Frictional unemployment occurs when there is a mismatch between job seekers and available jobs in the market.
It also happens due to the natural career progression for an employed staff seeking to transition to a new job, industry, or role.
Frictional unemployment is like a lubricant in the economy because an increase in frictional unemployment means more workers are moving toward better positions.
from Intelligent’s point of view, this bond would be considered a current asset, because it represents a resource that can easily be converted to cash within one year.
A bond is a debt instrument. A bondholder is entitled to regular predetermined interest rate payments and at the end of the bond's tenure, the bondholder would receive the amount invested.
Current assets are assets that are expected to be sold, used, or exhausted through standard business operations with one year.
Examples of current asset are:
- cash
- cash equivalents
- accounts receivable
- stock inventory
- marketable securities
- pre-paid liabilities
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The necessary journal entries for October month are attached below in the image :
<h3>What do you mean by journal entries?</h3>
All company transactions are documented in journal entries. Generally speaking, a transaction is any financial activity that has an effect on a business.
All the necessary journal entries are attached below:
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