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3 years ago

An industry that has one large firm that provides 60% of the supply of the product is called an oligopoly.

1 answer:

5 0

The statement " An industry has one large firm that provides 60% of the supply of the product is called an oligopoly" is false.
Because in an oligopoly more than one firm dominate the market and in monopoly only firm is dominant. In Oligopoly there is small number of firms but have the market share in large majority.

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Judd Company uses standard costs for its manufacturing division. Standards specify 0.2 direct labor hours per unit of product. T

Katena32 [7]

Answer:

Variable manufacturing overhead rate (cost) variance= $4,756.95 unfavorable

Explanation:

Giving the following information:

Budgeted variable overhead costs $13,500

Budgeted direct labor hours 640 hours

Actual:

Actual variable overhead costs $15,200

Actual direct labor hours 495 hours

To calculate the variable<u> overhead rate (cost)</u> variance, we need to use the following formula:

Variable manufacturing overhead rate variance= (standard rate - actual rate)* actual quantity

Standard rate= 13,500/640= $21.1

Actual rate= 15,200/495= $30.71

Variable manufacturing overhead rate variance= (21.1 - 30.71)*495

Variable manufacturing overhead rate variance= $4,756.95 unfavorable

3 0

4 years ago

On July 1, 2015, Friedman Inc. invested $717,963 in a mine estimated to have 806,700 tons of ore of uniform grade. During the la

yaroslaw [1]

Answer:

The computations are shown below:

Explanation:

(a) Depletion cost per unit

Depletion cost per unit

= $717,963 ÷ 806,700 tons

= $0.89 per ton

(b) The Journal entry to record depletion expense is

Depletion Expense A/c Dr $ 92,293 (103,700 tons × $0.89)

To To Accumulated Depletion A/c $ 92,293

(Being the depletion expense is recorded)

= 16,700 unsold units × $0.89

= $14,863

5 0

3 years ago

Cane Company manufactures two products called Alpha and Beta that sell for $150 and $105, respectively. Each product uses only o

DedPeter [7]

Answer:

1. $2461000

2.$1605000

3. $24000

4. $45000

Explanation:

See attached files

8 0

3 years ago

This is the interest rate at which commercial banks earned from keeping their excess reserves at the Federal Reserve.

Naya [18.7K]

The interest rate that commercial banks earn from keeping excess reserves at the Fed is A. IORB.

The full term is, "Interest on Reserve Balances (IORB)" and it is a rate that is paid by the Fed to banks.

This rate is based on the amount of excess reserves that the bank keeps at the Fed to help with its monetary policy.

Find out more on the Interest on Reserve Balances at brainly.com/question/27962333.

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8 0

2 years ago

Determine what type of model best fits the given situation: the value of a classic car is presently $50,000 and is increasing in

jok3333 [9.3K]

The model that best fits the given situation is exponential

<h3>what is an Exponential Function?</h3>

Exponential function, in mathematics a relationship of the form y = $a^{x}$ , where the independent variable x extends over the entire real number line as an exponent of a positive number a. The most important exponential function is y = $e^{x}$ .