Answer:
Average cost is $70 an hour. Although prices can range depending on the complexity of the job.
Explanation:
Answer:
LM curve will shift left and lead to decrease in Y and increase in r.
Explanation:
When money demand decreases, it will cause LM curve to shift up to the left. There will be decrease in Fed which causes decrease in money supply. The upward shift of LM curve will lower the income and raise interest rates.
Answer:
(a) $1,760
(b) $1,100
Explanation:
Given that,
Skysong, Inc. made three purchases of merchandise:
(1) 320 units at $5
(2) 420 units at $7
(3) 520 units at $8
Units on hand at the end of the period = 220
(a) Under FIFO method,
cost of ending inventory:
= Units on hand at the end of the period × $8 (From the last purchase)
= 220 × $8
= $1,760
(b) Under LIFO method (Comprise units from the first purchase),
cost of ending inventory:
= Units on hand at the end of the period × $8 (From the first purchase)
= 220 × $5
= $1,100
