Answer:
The correct answer is A. A secondary effect of an increase on yacht tax rates would be the laying off of hundreds of poor and middle-class yacht makers as the wealthy spend their money elsewhere.
Explanation:
The tax increase of a certain product necessarily increases the final price of that product, that is, when the tax rate is raised, the amount of money necessary to buy said good rises.
In turn, according to the law of demand, the higher the price, the lower the quantity demanded of the product. In other words, this tax increase would produce a drop in the demand for yachts.
If demand falls, the income of producers and sellers of the product falls. This is where production is affected, since small and medium producers will have greater difficulties to cope with the drop in sales, often incurring losses that would lead to having to close the business.
Answer:
Be tailored to the specific needs of an individual decision maker.
Explanation:
A managerial account report is more likely to be tailored to the specific needs of an individual decision maker. This is usually In comparison with a financial statement prepared in conformity with generally accepted accounting principles,
The managerial account lays its focus on specific needs which the decision maker needs.
It doesn't do any of theses;
Focus upon the operating results of the most recently completed accounting period neither does it View the entire organization as the reporting entity.
Answer:
Wilkens' days in inventory for 2017 = 60.833
Explanation:
Given:
Sales = $1,800,000
Beginning inventory = $160,000
Ending inventory = $240,000
Gross profit = $600,000
Inventory turnover = 6 times
Wilkens' days in inventory for 2017 = ?
Computation of Wilkens' days in inventory for 2017:
Wilkens' days in inventory for 2017 = Number of days in a year / Inventory turnover
Wilkens' days in inventory for 2017 = 365 / 6 times
Wilkens' days in inventory for 2017 = 60.833
Im guessing a) availbility of substitutes the reason is because when i read this it makes me think the price went up because maybe cranberries are not in season but grapes are. Usually when something is not in season it cost more than when it was.
Answer:
-$475,000
Explanation:
Total revenue = Baskets of peaches × Price
= 100,000 × $3
= $300,000
Explicit cost:
= Rent equipment + wages
= $100,000 + $100,000
= $200,000
Implicit cost:
= Land × Interest + salesman earned
= $1,000,000 × 0.55 + $25,000
= $575,000
Total cost = Explicit cost: + Implicit cost
= $200,000 + $575,000
= $775,000
Economic profit = Total revenue - Total cost
= $300,000 - $775,000
= -$475,000
