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2 years ago

Indicate whether each of the following statements is true or false. Statement True False

Business

1 answer:

cestrela7 [59]2 years ago

3 0

Answer:

Indicate whether each of the following statements is true or false. Statement True False

1. True

2. False, the gains from specialization and trade are based on comparative advantages.

3. False, sometimes countries need to trade or are forced to trade, and that doesn't always result in both benefiting from trade or everyone in the country benefiting from trade.

4. True, as long as they have different opportunity costs in the production of some goods.

5. False, workers that are employed in importing companies will favor trade since their whole business is based on trade.

Explanation:

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g Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Depa

wel

Answer:

Explanation:

Given that :

Bumblebee Company estimates that 379,500 direct labor hours will be worked during the coming year, 2020, in the Packaging Department. On this basis, the following budgeted manufacturing overhead cost data are computed for the year.

Fixed Overhead Costs Variable Overhead Costs

Supervision $94,440 Indirect labor $174,570

Depreciation 73,320 Indirect materials 75,900

Insurance 25,560 Repairs 53,130

Rent 21,120 Utilities 94,875

Property taxes 20,880 Lubricants 37,950

$235,320 $436,425

It is estimated that direct labor hours worked each month will range from 24,900 to 36,900 hours.

During October, 24,900 direct labor hours were worked and the following overhead costs were incurred.

Fixed overhead costs: Supervision $7,870, Depreciation $6,110, Insurance $2,095, Rent $1,760, and Property taxes $1,740.

Variable overhead costs: Indirect labor $12,544, Indirect materials, $4,500, Repairs $3,406, Utilities $6,545, and Lubricants $2,740.

The objective is to prepare a monthly manufacturing overhead flexible budget for each increment of 4,000 direct labor hours over the relevant range for the year ending December 31, 2020. (List variable costs before fixed costs.)

The monthly manufacturing overhead flexible budget can be computed as

follows:

Bumblebee Company

Packaging Department

Monthly manufacturing overhead Flexible

Budget For the year ended December 31,2017

Particulars Operating Capacity(Direct Labor Hours)

24900 28900 32900 36900

Variable Factory -

Overhead Costs :

Indirect labor 11454 13294 15134 16974

Indirect materials 4980 5780 6580 7380

Repairs 3486 4046 4606 5166

Utilities 6225 7225 8225 9225

Lubricants 2490 2890 3290 3690

Total Variable Factory-

Overhead Cost 28635 33235 37835 42435 

Fixed Factory -

Overhead Cost :

Supervision 7870 7870 7870 7870

Depreciation 6110 6110 6110 6110

Insurance 2130 2130 2130 2130

Rent 1760 1760 1760 1760

Property Taxes 1740 1740 1740 1740

Total Fixed Factory -

Overhead Cost: 19610 19610 19610 19610

Total Factory -

Overhead Cost (A+B) 48245 52845 57445 62045

8 0

3 years ago

What factors contribute to the comparative advantages of countries?

Westkost [7]

Answer:

International trade is the exchange of capital, goods, and services across international borders or territories.

Each nation should produce goods for which its domestic opportunity costs are lower than the domestic opportunity costs of other nations and exchange those goods for products that have higher domestic opportunity costs compared to other nations.

Benefits of trade include lower prices and better products for consumers, improved political ties among nations, and efficiency gains for domestic producers.

International trade is the exchange of capital, goods, and services across international borders or territories. Trading-partners reap mutual gains when each nation specializes in goods for which it holds a comparative advantage and then engages in trade for other products. In other words, each nation should produce goods for which its domestic opportunity costs are lower than the domestic opportunity costs of other nations and exchange those goods for products that have higher domestic opportunity costs compared to other nations.

Explanation:

In economics, the production possibility frontier (PPF) is a graph that shows the combinations of two commodities that could be produced using the same total amount of the factors of production. It shows the maximum possible production level of one commodity for any production level of another, given the existing levels of the factors of production and the state of technology.

PPFs are normally drawn as extending outward around the origin, but can also be represented as a straight line. An economy that is operating on the PPF is productively efficient, meaning that it would be impossible to produce more of one good without decreasing the production of the other good. For example, if an economy that produces only guns and butter is operating on the PPF, the production of guns would need to be sacrificed in order to produce more butter. If production is efficient, the economy can choose between combinations (i.e., points) on the PPF: B if guns are of interest, C if more butter is needed, or D if an equal mix of butter and guns is required.

3 0

2 years ago

Read 2 more answers

The comparative balance sheet of ConnieJo Company, for December 31, Years 1 and 2 ended December 31 appears below in condensed f

Sophie [7]

Answer:

Kindly check attached picture

Explanation:

Kindly check attached picture for detailed statement using the direct method

8 0

3 years ago

Bryan works as a salesman for jumbocorp. last year his sales target was $3 million and this year in an aggressive bid for growth

Leto [7]

There are a couple of reasons why Bryan acted in an unethical manner. First, he may have low morals which could be traced to his upbringing or life challenges. He could also have acted this way due to the demands made upon him by his employer to increase sales so dramatically. The stress of keeping his job may have been greater than acting ethically.

3 0

3 years ago

In 2013, Salvage Yard Inc. had cash flows from investing activities of ($250,000) and cash flows from financing activities of ($

PIT_PIT [208]

Answer:

$415,000

Explanation:

Following is the formula for cash flow:

Ending Cash Balance = CFO + CFI + CFF + Beginning Cash Balance

CFO = Cash flow from operating activities

CFI = Cash flow from investing activities

CFF = Cash flow from financing activities

We can easily rearrange the formula to find CFO

Ending Cash Balance - CFI - CFF - Beginning Cash Balance = CFO

or

CFO = Ending Cash Balance - CFI - CFF - Beginning Cash Balance

Solution

$CFO=105000-(-250000)-(-150000)-90000$

CFO = $415,000

7 0

2 years ago

Read 2 more answers