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krek1111 [17]
3 years ago
9

What is Laissez faire ?

Business
2 answers:
Zinaida [17]3 years ago
4 0
We had it and lost it due to the concepts that people thought businesses had to much free reign to do what they wanted so the government started passing regulations de facto giving the freedom that businesses had and making it power for the government.


wel3 years ago
4 0
Basically to let people do as they please with business.
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When units produced exceed units sold, net income will generally be ______ costing. Multiple choice question. the same under bot
Vika [28.1K]

Answer:

higher under absorption costing than under variable costing.

Explanation:

Costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.

Manufacturing costs can be defined as the overall costs associated with the acquisition of resources such as materials and the cost of converting these raw materials into finished goods. Manufacturing costs include direct labor costs, direct materials cost and manufacturing overhead costs.

In Business management, when the total units of goods produced by a business firm (manufacturer) exceed the total units of goods sold, net income will generally be higher under absorption costing than under variable costing.

7 0
3 years ago
Direct materials, $7 per unit, Direct labor, $5 per unit, Variable overhead, $6 per unit, and Fixed overhead, $270,000. The comp
Arte-miy333 [17]

Answer:

Income reported under absorption costing =$440,000

Explanation:

<em>The income reported under absorption costing can be determined by  adjusting the income under variable costing for difference in profit.</em>

<em>The steps are outlined below:</em>

<em>Step 1</em>

<em>Calculate the Overhead absorption rate</em>

OAR = Budgeted Fixed overhead/ Budgeted number of units

=  $270,000/ 27,000 units

= $10

<em>Step 2</em>

<em>Calculate the change in inventory </em>

8500 units (given)

<em>Step 3</em>

<em>Calculate the difference in profit </em>=

<em> Difference in profit = OAR × change in inventory</em>

=8500×$10

= $85000

<em>Step 4</em>

<em>Calculate Income under absorption costing</em>

<em> =  Income under variable costing +  Difference in profit</em>

=$85,000 + $355,000

=$440,000

Income reported under absorption costing =$440,000

7 0
3 years ago
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Which situation is an example of a person making use of credit?
ivann1987 [24]

An example of a person making use of credit is a business owner takes out a loan to expand and redecorate her offices.

<h3>What is credit?</h3>

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To learn more about credit, please check: brainly.com/question/27547395

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