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4 years ago

In a market economy , a high price is a signal for

Business

2 answers:

Vadim26 [7]4 years ago

8 0

In a market ecoomy, a high price is a signal for producers to supply more and consumers to buy less.

Think of a high price as saying to producers, "Go, go, go!" There is obvious demand for the product that has pushed the price high--so the more you can make and sell, the more you as a supplier will profit. At the same time, the high price is saying to consumers, "Whoa, whoa, whoa! Slow down!" High prices will tell consumers to hold off on purchasing something and assess whether they really need it or can afford it. Even if the product is needed, consumers may wait, in hopes that prices will come down before long, or buy less of the product than they would have if prices were lower.

irinina [24]4 years ago

7 0

Producers to supply more & consumers to buy less

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Eclipse Solar Company operates two factories. The company applies factory overhead to jobs on the basis of machine hours in Fact

Varvara68 [4.7K]

Answer:

Eclipse Solar Company

a. Factory overhead rate for Factory 1 is $23.13

b. Factory overhead rate for Factory 2 is $35.20

c. Journal Entries:

August 31:

Debit Work in Process Factory 1 $1,491,885

Credit Factory Overhead $1,491,885

Debit Work in Process Factory 2 $3,696,000

Credit Factory Overhead $3,696,000

d. Balances of the factory overhead accounts:

Factory 1 $23,915 underapplied

Factory 2 $89,700 overapplied

Explanation:

a) Data and Calculations:

Factory 1 Factory 2

Overhead application basis machine hrs direct labor hrs

Estimated overhead costs $18,500,000 $44,000,000

Direct labor hours 800,000

Factory overhead rate $23.125

Machine hours 1,250,000

Factory overhead rate $35.20

August:

Actual overhead costs $1,515,800 $3,606,300

Actual direct labor

hours for August 64,500

Actual machine hours for August 105,000

Application of overhead to production for August:

Factory 1 = $1,491,885 (64,500 * $23.13)

Factory 2 $3,696,000 (105,000 * $35.20)

Factory overhead accounts:

Factory 1 Factory 2

Actual overhead costs $1,515,800 $3,606,300

Applied overhead costs $1,491,885 $3,696,000

Under/(Over)-Applied $23,915 $89,700 Overapplied

4 0

3 years ago

Revise your worksheet to reflect the following transactions and updated values at the end of the accounting period, then answer

lesya [120]

Answer:

1a. Revised Cash balance $23,710

1b. No. the Bank reconciliation is NOT in balance

2a.$23,630

2b.No. The bank reconciliation will still NOT be in balance

3.The difference of $171,000 will be subtracted from the book balance

Explanation:

1a.Preparation of the Revised Cash Book

Particular Debit Particular Credit

Unadjusted $16,830; EFT of Utility $1,400

Balance $9,900 ; Bil $100

Note Collected 1,100; Service Fee Charged $2,700

Interest on Note Collected 90 ; NSF Checks Dishonored $23,710

Excess of Insurance Expense 27,910; Revised Balance $27,910

Therefore the Revised Cash balance at the end of the period will be $23,710

1b.NO. The Bank reconciliation is NOT in balance because the revised balance is still not matched with the bank balance reason been that the amount of $23,710 is not equal to $19,610

2-a) In a situation where the entry to correct the insurance payment hasn’t been made, the balance of cash book will be :

$23,710 – $80 = $23,630

2-b) No. The bank reconciliation will still NOT be in balance because $23,630 is not equal to $19,610

3. If company incorrectly recording a customer deposit at $190,000 rather than $19,000, this increases the balance of cash book by $171,000. Therefore, the company subtracted the difference of $171,000 from the book balance

3 0

4 years ago

Effective leaders are also good members of a team. <br> A. True <br> B. False

ira [324]

A false and tell eriuddjsjsuxhhzuxn b

6 0

3 years ago

Read 2 more answers

The primary function of the Income Statement is to:a. Show the company's value as of a given point in timeb. Determine if the co

mrs_skeptik [129]

Answer: e. Measure the company's financial performance over a period of time

Explanation:

The Income statement shows how the company performed financially in a certain period in relation to their operating activities.

By subtracting the expenses from the revenue, the income statement shows how the company was able to put its investments and assets to good use to be able to provide value for the shareholders.

The Income statement is prepared per period so the information it shows is period specific.

6 0

3 years ago

A person who scores high on the conscientiousness dimension is typically dependable, persistent, and oriented toward achievement

belka [17]

The statement that a person who scores high on the conscientiousness dimension is typically dependable, persistent, and oriented toward achievement is false. A person who score high on the Emotional Stability dimension is typically dependable, persistent, and oriented toward achievement. This personality dimension defines the individual's <span>ability to remain stable and balanced.</span>

5 0

3 years ago