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Anna11 [10]
3 years ago
11

A payments system based on money is A. more efficient than a barter economy because fewer prices are needed to establish relativ

e values between all commodities. B. less efficient than a barter economy because a money economy requires that there be a double coincidence of wants in order for there to be an exchange.
Business
1 answer:
Alchen [17]3 years ago
8 0

Answer: Option A    

Explanation: A money based payment system is the one in which the transactions involving exchange of goods and services are performed by using a common denomination called money. In such a system any commodity can be valued on the basis of money.

However in a barter system one commodity is exchanged for the other. Therefore, the double coincidence of wants is needed for fulfilling these transactions. The actual value cannot be determined for any commodity.

  From the above we can conclude that the correct option is B.

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Answer:

$4,000

Explanation:

Given that,

Last year:

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Selling price of each DVD = $20

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This year:

DVDs sold = 150

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Real GDP:

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Homeyer Corporation has provided the following data for its two most recent years of operation: Selling price per unit $ 71 Manu
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Answer:

Net operating profit= 102,000

Explanation:

Giving the following information:

Selling price per unit $ 71

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Direct labor $ 6

Variable manufacturing overhead $ 3

Fixed manufacturing overhead per year $ 264,000

Selling and administrative expenses:

Variable selling and administrative expense per unit sold $ 4

Fixed selling and administrative expense per year $ 74,000

Year 1

Units in beginning inventory 0

Units produced during the year 11,000

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Units in ending inventory 3,000

Year 2

Units in beginning inventory 3,000

Units produced during the year 12,000

Units sold during the year 14,000

Units in ending inventory 1,000

Unitary cost= (12 + 6 + 3) + (264,000/11,000)= $45

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COGS= (8,000*45)= 360,000 (-)

Gross profit= 208,000

Variable selling and administrative= (4*8000)= 32,000 (-)

Fixed selling and administrative expense= 74,000 (-)

Net operating profit= 102,000

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