<u>Answer:</u>
<u><em>Laws passed by the federal government often provide benefits for a small number of individuals. These individuals, in turn, have an incentive to contribute to the campaigns of politicians who pass these laws</em></u>
<u>Explanation</u>:
When individuals or firms cunningly try to get benefits from government at the detriment of others it term rent seeking.
Implying they seek shelter under this laws that benefit them the most.
For example, certain tax laws may favor the weather citizens of a country and they (the wealthier citizens) may take advantage of that.
Answer:
Piper Rose Boutique should accept the special order made by the college
Explanation:
Price per unit the college is willing to pay = $6
Total variable cost per unit to be incurred by Piper Rose Boutique = Direct materials + Direct labor + Variable factory overhead = $2.00 + $0.50 + $1.50 = $4,00
Since the price per unit of $6 that the college is willing to pay is greater than the total variable cost per unit of $4 to be incurred by Piper Rose Boutique, Piper Rose Boutique should accept the special order made by the college.
Note: the Fixed factory overhead is not relevant in taking the decision. Only the variable costs are relevant.
Answer:
$6,689
Explanation:
As we know that the inventory should be recorded at cost or net realizable value which ever is lower
Particulars Item Units Unit Cost Net Realizable Value LCNRV
Minolta 7 $175 $157 $157
Canon 11 142 176 $142
Vivitar 14 130 111 $111
Kodak 17 120 132 $120
So, the amount of ending inventory is
= 7 units × $157 + 11 units × $142 + 14 units × $111 + 17 units × $120
= $1,099 + $1,562 + $1,988 + $2,040
= $6,689
Answer:
The unit costs are $ 4.87 for 70 % Conversion Costs
The unit costs are $ 5.54 for finished goods
Explanation:
Total Materials cost = $ 115,080
Material Costs for one unit= $ 115,080/ 34000= $ 3.3847= $ 3.39
Conversion Costs= $ 72,072
Conversion Costs for one unit = $ 72072/34000 * 70%= $ 1.4838= $ 1.48
Total Cost per unit= $ 3.39 + $ 1.48= $ 4.87
Process Cost summary
Quantity Schedule
Materials = ($3.39 *34,000)= $ 115,080
Cost Added by Department: Total Cost Unit Cost
Materials= $ 115,080 $ 3.39
Conversion Costs
Labor + Overheads ( 1.48 * 34,000)= $ 50,320 $ 1.48
Units still in process ($ 72072- $ 50320) = $ 19,752 $0.58
Total cost to be accounted for $ 187,152 $ 5.54
Answer:
A. Consider updating them about progress and involving them in the process.