Answer:
C. The monoplist sets price equal to marginal cost to maximize profit.
Explanation:
To maximise the profit, monopolist charge price where MR = MC.
Answer:
(C) Product X = $880; Product Y = $2,240
Explanation:
The applied overhead will be calculate by the product of the cost diver and the overhead rate:
<u>Cost driver for each product:</u>
Product X 3MH and 1LH
Product Y 4MH and 8LH
<u />
<u>Overhead rate: </u>
240 per machine hour
and 160 per labor hour
Product X 3MH x $240 + 1LH x $160 = 880
Product Y 4MH x $240 + 8LH x $160 = 2,240
Answer:
The correct answer is letter "D": a CSR.
Explanation:
Corporate Social Responsibility (CSR) is the set of actions companies take that go beyond their regular operations to ensure consumers' satisfaction and benefit society as a whole. Taking care of their inner and outer environment is a clear example of CSR.
In particular, <em>because of the business Whole Foods is dedicated to, keeping their foods in proper conditions to facilitate the purchase of their consumers and avoid food contamination represents their CSR.</em>
Answer:
c. debit to Payroll Tax Expense for $1,050.
Explanation:
The payroll tax expense includes various expense like - Social security tax payable, medicare tax payable, unemployment tax payable, etc.
So, we consider these items only.
The journal entry is shown below:
Payroll expense A/c Dr XXXXX
To Social security taxes payable A/c XXXXX
To Medicare taxes payable A/c XXXXX
(Being payroll expense is recorded)
All other information which is given is not relevant. Hence, ignored it
