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3 years ago

The following information is from Amos Company for the year ended December 31, 2019.

Business

1 answer:

Juliette [100K]3 years ago

3 0

Answer:

Explanation:

The preparation of the statement of retained earnings for Amos Company is shown below:

Retained earnings at December 31, 2018 (before discovery of error) $858,000

Less: Depreciation expense two years ago -$45,600

Add: net income $209,000

Less: Cash dividends declared and paid during the year -$11,000

Retained earnings at December 31, 2019 $1,010,400

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Confronted with the same unit cost data, a monopolistic producer will charge Group of answer choices

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Answer:

a higher price and produce a smaller output than a competitive firm

Explanation:

A monpolistically competitive firm is a firm that :

1. Sells differentiated products from other firms in the industry.

2. Has many buyers and sellers

3. Is a price maker

4. Has no barrier to entry or exist of firms

An example of a monpolistically competitive firm is a resturant.

A competitive firm is a firm that:

1. Sells identical goods with other firms in the industry.

2. Is a price taker . Prices are set by forces of demand and supply

3. Has many buyers and sellers

4. There are no barriers to entry or exist of firms.

When a monopolistic and competition firm are faced with the same unit cost, a monopolistic firm would aim to earn profit by increasing its price and reducing the quantity produced.

While a perfect competition would sell at the price set by the forces of demand and supply. The firm can increase the quantity produced in order to increase revenue.

A monopolistic firm is able to charge a higher price for its products while a perfect competition isn't.

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3 years ago

Rustafson Corporation is a diversified manufacturer of consumer goods. The company's activity-based costing system has the follo

GalinKa [24]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

The company's activity-based costing system has the following seven activity cost pools:

Labor-related $ 19,600 10,000 direct labor-hours

Machine-related $ 7,000 7,000 machine-hours

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Production orders $ 16,500 500 orders

Product testing $ 22,400 800 tests

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Activity rate= total estimated activity cost for the period/ total amount of allocation base:

Labor-related= 19600/10000= $1.96

Machine related= 7000/7000= $1

Machine setups= 23400/ 600= $39

Production orders= 16500/500= $33

Product testing= 22400/800= $28

Packaging= 62900/3700= $17

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An exploration of the factors underlying an economy's capital stock and its level of technology indicates that the relevant tim

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Answer:

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3 years ago

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Answer:

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