Identify two advantages of dollar-value lifo compared with unit lifo.

MC Qu. 114 Lowden Company has an overhead application... Lowden Company has an overhead application rate of 155% and allocates o

bogdanovich [222]

Answer:

the overhead amount recorded is $139,500

Explanation:

The computation of the overhead amount recorded is shown below:

= Overhead application rate × direct material cost

= 155% × $90,000

= $139,500

Hence, the overhead amount recorded is $139,500

We simply applied the above formula so that the correct value could come

7 0

3 years ago

Assume there are currently five firms producing and selling computer chips in the European market. Also assume that the product

irina1246 [14]

Answer: C. Increase

Explanation:

An oligopoly is a market structure in which a few firms dominate. When a market is shared between a few firms, it is said to be highly concentrated. Although only a few firms dominate, it is possible that many small firms may also operate in the market.

Where few firms dominate the equilibrium price will increase because the demand will be high, and this will make the equilibrium price increase.

3 0

3 years ago

Read 2 more answers

The phrase "invisible hand" means that:

never [62]

Answer:

The correct answer is letter "B": The tendency of competition to cause individuals and firms to unintentionally promote the interests of society.

Explanation:

In his book "<em>An Inquiry into the Nature and Causes of the Wealth of Nations</em>" (1776), British economist Adam Smith (1723-1790) introduced the term "invisible hand" to refer that economic factors (buyers and sellers) naturally influence in the fluctuations of supply and demand without the need for the intervention of the government.

According to Smith, buyers and sellers interactions act as an "invisible hand" arranging proper levels of competition between businesses and promoting the best interest of societies.

4 0

3 years ago

Goldin Corporation currently pays its salesperson a flat salary of $5,000 per month and is considering paying him $20 per unit i

Naddik [55]

Answer:

The net operating income will c. increase by $7,000

Explanation:

The formula to calculate net operating income is =

Gross income - Operating expenses

If Sales are equal to 200 units and the payment for a salesperson is

a flat salary of $5,000

Gross income = 200 * $80 = $16,000

and

Operating expenses = $5,000

so

Net operating income = $16,000 - $5,000 = $11,000

If we rise the Sales to 300 units then the payment for the salesperson will be 20$ * 300 = $6,000.

Gross income = 300 * $80 = $24,000

and

Operating expenses = $6,000

so

Net operating income = $24,000 - $6,000 = $18,000

$18,000 - $11,000 = $7,000

6 0

3 years ago

You and four other team members attend a seminar on conflict. The seminar costs $150 per person. You will need to drive two cars

Sveta_85 [38]

Answer: $825

Explanation:

Total seminar cost for the team;

= 150 * 5 people

= $750

Two cars need to be driven the 100-mile round trip at 37.5 cents per mile.

= 2 * 100 * 37.5

= 7,500 cents

= $75

Cost of Seminar = 750 + 75 = $825

5 0

3 years ago