All categories

3 years ago

Describe two ways that technology changed people's lives in the 1990s

2 answers:

6 0

Technology changed people's lives in the 1990s in the form of:

a. Communication - communicating technologies such as beepers, cellphones, and internet access paved the way for people to easily keep in touch and send their messages in an instant to people who are even in the farthest regions of the Earth.

b. Production of goods - mass production of goods were at its speed because of the development of computer-based machines that can deliver precise measurements and detailed products that can reach a lot of people in the shortest time.

Technology is a continuous improving branch in society which should always be geared at improving lives of people.

weqwewe [10]3 years ago

6 0

Answer:

Helped with mass-production of products, helped with communication

Explanation:

1. The introduction of new technology made for more advancements in the workplace, easier transport of goods, and more communication over long distances. The technology also helped citizens complete their work easier with a faster rate of production.

2. communication devices also helped America prosper, as more and more forms of communication became available, it became easier and easier to communicate over long distances, and therefore helped the American people and economy prosper.

You might be interested in

Haas Company manufactures and sells one product. The following information pertains to each of the company’s first three years o

Gre4nikov [31]

Solution and Explanation:

1 Breakeven point = Fixed cost/contribution per unit

$480000+360000 /(57-43)$ = 60000 Units

2. a

year 1 year 2 year 3

unit product cost 41 41 41

Direct material 25

Direct Labour 12

Variable manufactoring overhead 4

Variable costing unit product cost 41

2. b Variable expenses

Variable cost of goods sold 24,60,000 30,75,000 16,40,000

Variable selling and administrative 1,20,000 1,50,000 80,000

Total variable expenses 25,80,000 32,25,000 17,20,000

Contributon margin 8,40,000 -3,75,000 19,85,000

Fixed expenses

Fixed manufactoring overhead 4,80,000 4,80,000 4,80,000

Fixed selling and administrative 3,60,000 3,60,000 3,60,000

Total Fixed Expenses 8,40,000 8,40,000 8,40,000

Net operating income -12,15,000 11,45,000 Note Year 1 year 2 year 3

Unit sold 60000 50000 65000

Unit price 57 57 57 Sales 3420000 2850000 3705000

Variable cost of goods sold

Unit 60000 75000 40000

Unit cost 41 41 41

Total 2460000 3075000 1640000 Variable selling and administrative

Unit 60000 75000 40000

Unit cost 2 2 2 Total 120000 150000 80000

a unit product cost year 1 year 2 year 3

Direct material 25 25 25

Direct Labour 12 12 12

Variable manufactoring overhead 4 4 4

Fixed manufactoring over head 8 6.4 12

Variable costing unit product cost 49 47.4 53

Note

Fixed manufactoring over head

480000 divided by 60000 8.00

480000 divided by75000 6.40

480000 divided by 40000 12.00

b Hass company

Absorbtion costing income statement

Year 1 year 2 year 3

Sales 34,20,000 28,50,000 37,05,000 Cost of goods sold 29,40,000 23,70,000 33,05,000 Gross margin 4,80,000 4,80,000 4,00,000 selling and admin exp 4,80,000 4,60,000 4,90,000 Net operating income - 20,000 -90,000 Note

Cost of goods sold

Year 1 60000 multiply with 49 = 2940000

Year 2 50000 multiply with47.4= 2370000

Year 3 $25000 * 47.4+40000 * 53$ = 3305000

selling and administrative expenses

Year 1 $60000 * 2+360000$ = 480000

Year 2 $50000 * 2+360000$ = 460000

Year 3 $65000 * 2+360000$ = 490000

4 0

3 years ago

LLP Company had the following stockholders’ equity as ofJanuary 1, 2017.

mihalych1998 [28]

Complete Question:

Clemenson LLP Company had the following stockholders’ equity as of January 1, 2017.

Common stock, $1 par value, 120,000 shares issued$120,000

Paid-in capital in excess of par—common stock 833,000

Retained earnings 408,000

Total stockholders’ equity$1,361,000

During 2017, the following transactions occurred.

Feb. 16: LLP repurchased 5,000 shares of treasury stock at a price of $15 per share.

Mar. 8: 2,000 shares of treasury stock repurchased above were reissued at $16 per share.

Apr. 11: 800 shares of treasury stock repurchased above were reissued at $12 per share.

May. 8: 2,000 shares of treasury stock repurchased above were reissued at $18 per share

Instructions:

a. Prepare the journal entries to record the treasury stock transactions in 2017, assuming Clemson uses the cost method.

b. Prepare the stockholders’ equity section as of April 30, 2017. Net income for the first 4 months of 2017 was $130,000.

Answer:

Clemson LLP Company

a. Journal Entries

Feb. 16:

Debit Treasury Stock account $75,000

Credit Cash Account $75,000

To record the repurchase of 5,000 shares of treasury stock at a price of $15 per share.

March 8:

Debit Cash Account $32,000

Credit Treasury Stock account $32,000

To record the resale of 2,000 shares of treasury stock at $16 per share.

April 11:

Debit Cash Account $9,600

Credit Treasury Stock account $9,600

To record the resale of 800 shares of treasury stock at $12 per share.

May 8:

Debit Cash Account $36,000

Credit Treasury Stock account $36,000

To record the resale of 2,000 shares of treasury stock at $18 per share.

b. Stockholders' Equity Section as of April 30, 2017:

Common stock, $1 par value, 120,000 shares issued $120,000

Treasury Stock, 200 shares 2,600

Paid-in capital in excess of par—common stock 833,000

Retained earnings 538,000

Total stockholders’ equity $1,493,600

Explanation:

a) Data and Calculations:

Stockholders’ equity as of January 1, 2017:

Common stock, $1 par value, 120,000 shares issued $120,000

Paid-in capital in excess of par—common stock 833,000

Retained earnings 408,000

Total stockholders’ equity $1,361,000

b) Retained Earnings:

Jan. 1, 2017 balance $408,000

Net Income $130,000

April 30, 2017 bal. $538,000

c) Since Clemenson accounts for the Treasury Stock transactions using the cost method, it means that all treasury transactions are recorded directly in the Treasury Stock account based on their cost and not the par value. This method of using the cost is one of the two methods for accounting for treasury stock transactions. The other method, which Clemenson can use is the par value method. Under this second method, Clemenson will record the above and below par value differences in the Paid-in Capital in excess of par account instead of the Treasury Stock account. While the treasury stock account is a contra account to the Common Stock account, in Clemenson's case, the Treasury Stock balance is not a debit but a credit balance.

6 0

3 years ago

Question 8

Darya [45]

Answer:

Explanation:

people have to make choice due to limited (opportunity cost)

3 0

3 years ago

Doogan Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Direct m

RSB [31]

Answer:

d. $1,540 F

Explanation:

The formula to compute the variable overhead efficiency variance is shown below:

= (Actual direct labor hours - standard direct labor hours) × variable overhead per hour

where,

Actual direct labor hours is 2,380

And, the standard direct labor hours equal to

= 5,200 units × 0.5

= 2,600 hours

Now put these values to the above formula

So, the value would equal to

= (2,380 hours - 2,600 hours) × $7

= 1,540 favorable

5 0

3 years ago

Vincenzo Martin and Sasha Boudrakis have started a new firm, The Fan Base. Vincenzo is a well-known marketing guru who advises m

Ugo [173]

Answer: limited partnership

Explanation:

With the description given in the question, the The Fan Base is organized as a limited partnership. A limited partnership has a general partner, whom has an unlimited liability and a limited partner.

A limited partnership is when two or more partners go into business together, and in this case, the limited partners will be liable only up to the amount that they invested in the business.

6 0

3 years ago