Answer:
increasing prices and thereby raising future quantity supplied
Explanation:
To understand this question, we can use the help of a standard supply and demand plot. At price 0 there’s a shortage because the quantity demanded is greater than the quantity supplied. This will generate prices to go up until it reaches the equilibrium price, which in turn will generate quantities to go up. Thus the gap between quantity demanded and supplied, the shortage, will disappear
Answer: A) absorption costing unit product costs
Explanation:
Absorption costing is the costing convention that is used when fixed costs need to be apportioned to the production of goods and services.
When a company has idle capacity, any production done using that idle capacity would incur no fixed costs because the fixed costs for the entire capacity, both idle and non-idle have been covered already as fixed costs are charged on the entire company capacity.
Absorption costing is therefore not relevant here as the company will use its sufficient idle capacity that has already incurred fixed costs.
ok there are way to much questions can you simplify this question just by a little bit
Answer:
i guess you can but don't post any valid information which might expose credit cards or so forth
Answer:
Dr Retained earnings $8.2
Cr Inventory $8.2
Explanation:
By changing method of an inventory valuation, the company should apply it retrospectively based on IAS 8 guidelines on change in accounting estimates and errors. Thus, the said difference from FIFO method to Weighted Average method of valuation should be credited directly against Retained earnings account because, accounts are already closed right after the year ended.
$32-$23.8= $8.2 million
To record the said adjustment you have to
Debit Retained earnings and credit Inventory in the amount of $8.2 million.
