Answer:
c)No change will occur in the market.
Explanation:
A price ceiling above the equilibrium price is a non binding price ceiling and it does not affect the market. No change in supply or demand occurs.
Answer:
Free Trade Definition. Free trade is a largely theoretical policy under which governments impose absolutely no tariffs, taxes, or duties on imports, or quotas on exports. In this sense, free trade is the opposite of protectionism, a defensive trade policy intended to eliminate the possibility of foreign competition
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Standard quantity= 7.8 grams per unit of output
Standard price= $6.50 per gram.
During the month the company purchased 27,900 grams of the direct material at $6.70 per gram.
To calculate the material price variance, we need to use the following formula:
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (6.5 - 6.7)*27,900
Direct material price variance= $5,580 unfavorable.
It is unfavorable because the actual price was higher than estimated.
Answer:
$351,250
Explanation:
Computation for the amount of cash received for September
September cash sales $73,750
(25% × $295,000)
August credit sales $277,500
(75% × $370,000)
Cash collected in September $351,250
($73,750+$277,500)
Therefore the amount of cash received for September will be $351,250
