Answer:
Labor productivity= 2.35 tires per hour of work
Explanation:
Giving the following information:
Fok makes 1,000 tires per day with the following resources:
Labor: 425 hours per day at $12.50 per hour.
The labor productivity is calculated based on the number of units made divided by the amounts of hours required:
Labor productivity= 1,000/425= 2.35 tires per hour of work
There are 4 jacks in the deck.
13 are clubs and 26 are all red cards.
The computation for the following problems are shown below:
a.
All are jacks
Computation: 4/52 * 3/51 * 2/50 = 1/5525
b.
All are clubs
Computation: 13/52 * 12/51 * 11/50 = 11/850
c.
All are red card
Computation: 26/52 * 25/51 * 24/50 = 2/17
Answer:
This is an example of price leadership.
Explanation:
Price leadership is a type of practice where a firm, most likely a dominant one, sets the price and other firms follow it. It is commonly seen in an oligopoly market.
In an oligopoly market, there are a few firms, these firms are interdependent. A price change by one firm affects its rivals.
Price leadership is of different types.
- Barometric
- Collusive
- Dominant
So when a dominant firm changes its price, the followers have to follow it if we they want to retain their market share.
Answer:
Explanation:
The journal entries are shown below:
1. Petty cash A/c Dr $264.2
To Cash A/c $264.2
(Being petty cash fund established)
2. Freight - in expense A/c Dr $75
Supplies expense A/c Dr $40
Postage expense A/c Dr $48
Loan to employees A/c Dr $32
Miscellaneous expense A/c Dr $51
Cash over and short A/c Dr $2.9
To Cash A/c Dr $248.9 ($264.2 - $15.3)
(Being disbursement of cash recorded)
3. Petty Cash A/c Dr $115
To Cash A/c $115
(Being increase in petty cash recorded)
Answer:
e) Credit to Revenue
Explanation:
The services provided to customers will be an increase of revenue and an increase in revenues is a credit transaction.
Since the question does not mention that the services were billed therefore the accounts receivable will not be increased till it is billed and thus option a) is not applicable.
The other options are not relevant since there is no cash collection involved, and no liabilities involved.
