1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
cricket20 [7]
3 years ago
5

The world price of a ton of steel is $1,000. Before Russia allowed trade in steel, the price of a ton of steel there was $650. O

nce Russia allowed trade in steel with other countries, Russia begana.importing steel and the price per ton in Russia remained at $650. b.exporting steel and the price per ton in Russia remained at $650. c.importing steel and the price per ton in Russia increased to $1,000. d.exporting steel and the price per ton in Russia increased to $1,000.
Business
1 answer:
SCORPION-xisa [38]3 years ago
3 0

Answer:

d.Exporting steel and the price per ton in Russia increased to $1,000.

Explanation:

As world price of ton of steel is less in Russia in world [ $650 < $1000]. So, rest of the world will buy cheaper steel from Russia, i.e Russia would export steel to rest of the world.

Russia exporting steel to rest of the world, reduces the domestic supply of steel in Russia. This decreased supply creates excess demand of steel in domestic russian market. Excess Demand creates competition among buyers & increases price of steel in domestic russian market. This would happen till price of steel in russian domestic market equates steel global price.

You might be interested in
Answer the following questions​ (a) at zero output level if total cost is​ $100 what will be values of total variable cost and t
mr_godi [17]

Answer:

(a) Total fixed cost is equal to $100, while total variable cost is equal to $100.

(b) Total cost = $165; Average total cost = $41.25; Average fixed cost = $25; and Average variable cost = $16.25

Explanation:

A fixed cost is a cost that does not change as the output changes. It is usually incurred before production starts and it continues to be incurred when there is a production stoppage. It includes cost on plant and machinery, building, etc.

A variable is a cost that changes as output changes. It is not incurred when there is a production stoppage. It includes cost of material and labour.

Based on this we can answer the question as follows:

(a) at zero output level if total cost is $100 what will be values of total variable cost and total fixed costs

At zero output level, fixed cost is equal to total cost. Therefore, total fixed cost is equal to $100.

At zero output level, no variable cost will be cost. Therefore, total variable cost is equal to $100.

(b) At 4 units of output values of total fixed cost and total variable cost are $100 and $65 respectively. What are values for total cost, average total cost, average fixed cost and average variable cost?

Total cost = Total fixed cost + Total variable cost = $100 + $65 = $165

Average total cost = Total cost/Units of output = $165/4 = $41.25

Average fixed cost = Total fixed cost/Units of output = $100/4 = $25

Average variable cost = Total variable cost/Units of output = $65/4 = $16.25 .

4 0
3 years ago
The following information is available for Lock-Tite Company, which produces special-order security products and uses a job orde
lakkis [162]

Answer:

1.Cost of direct material used =$168000

2.cost of  direct labor used =$100000

3.Cost of goods manufactured =$396800

4.cost of goods sold =$422100

5.Gross profit = $577900

6.Under applied factory overhead =$84000

Explanation:

Direct labour= (D/L)

Direct material = (D/M)

Factory overhead =( FOH)

Raw material used = material (open) +purchased -material (end)

                               = 30000+194000-56000

                              = 168000.

Entry:  Dr work in process  168000

                   Cr raw material          168000

Manufacturing cost = Raw material used + direct labor cost + factory overhead.

                        = 168000+100000+(16000+23000+100000) = $407000.

COGM= Manufacturing cost+work in process (open)-work in process (end)

          = 407000+9900 - 20100 = $396800.

Applied factory overhead= direct labor * predetermined rate

                                          = 100000*55% = $55000.

entry: Dr  work in process  55000

               Cr Applied factory overhead   55000.

Cost of goods sold = Cost of goods manufactured + finished goods (open) -finished goods (end).

                             = 396800+59000-33700 =$422100.

                                             T-account

Raw material                                                           Work in process

Dr___________Cr__                                      __ DR ___________CR

30000--                                                         (open)  9900 ----

194000---                                                     (D/L)  100000   ---  

             ----                  56000                     (FOH) 55000    ---   20100

            ---- bal figure 168000                             168000  --   bal fig 312800.

Actual factory overhead = $139000

Applied factory overhead =$<u>55000</u>

Under applied factory overhead = 84000.

Sales =                                                                                             1000000

Less cost of goods sold =                                                             (<u>422100</u>)

Gross profit                                                                                    577900

6 0
3 years ago
By examining relationships between items in the statement of cash flows, investors and creditors can do all of the following exc
d1i1m1o1n [39]

Answer:

determine cash investing and financing transactions made during the period.

Explanation:

When you analyze the statement of cash flows, you can determine and predict how will operating cash flows be in the future. E.g. a project is generating high amounts of cash, so you can predict that it will continue to do so for some time. But what you cannot predict or even compare is related to the financial and investing transactions that the company will make in the future. E.g. by analyzing a cash flow you cannot know if the company will decide to invest in other projects or will it decide to issue more stocks.

5 0
3 years ago
Adams Co. reports the following balance sheet accounts as of December 31. Salaries payable $ 6,800 Retained earnings $ 58,000 Bu
krek1111 [17]

Answer:

                                     Adams Co.

                        Balance Sheet as of December 31.

Assets

<u>Current Assets</u>

Cash                               $32,000  

Accounts Receivable $12,000  

Merchandise Inventory $15,600  

Office Supplies              $3,600  

Prepaid Rent                  $7,800

Prepaid Insurance          $4,600  

Total Current Assets                                         $ 75,600

<u>Property, Plant and Equipment</u>

Land                                                                    $38,000

Building                                 $67,800

Accumulated Depreciation $(6,600)                <u>$61,200</u>

(Buildings)  

Total Assets                                                        <u>$ 174,800</u>

<u></u>

Liabilities

<u>Current Liabilities</u>

Accounts Payables                $18,000

Salaries Payable                    <u>$6,800 </u>

Total Current Liabilities                               $24,800

<u>Long term Liabilities </u>

Notes Payable                                                      $46,000

Mortgage Payable                                               $28,000

Total Long term Liabilities                                  $74,000

Total Liabilities                                                     $98,800

<u>Stockholder's Equity</u>  

Common Stock                       $18,000

Retained Earnings                  $58,000

Total Stockholder's Equity                                 <u>$76,000</u>

Total Liabilities & Stockholder's Equity           <u>$174,800</u>

4 0
3 years ago
In the context of factors that influence the motivation to learn, when an organization seeks to convince employees that they can
BabaBlast [244]

Answer:

D. The Self-efficacy of employees.

Explanation:

Self-efficacy refers to what you believe about yourself, rather than how you truly are. An employee with low self-efficacy runs the risk of performing tasks below her actual ability level because she believes she can only perform to that level, and she may not recognize her aptitude to do the work.

Organizational leaders and performance managers use the term self-efficacy to describe an individuals' belief in their own ability to successfully complete a task. ... All employees should be assigned tasks that are the best possible fit for their knowledge, skills, and abilities.

5 0
3 years ago
Read 2 more answers
Other questions:
  • The jones company has just completed the third year of a​ five-year macrs recovery period for a piece of equipment it originally
    9·1 answer
  • Adams Manufacturing allocates overhead to production on the basis of direct labor costs. At the beginning of the year, Adams est
    9·1 answer
  • Ziva is an organic lettuce farmer, but she also spends part of her day as a professional organizing consultant. As a consultant,
    8·1 answer
  • e can deposit $5,000 at the end of each six-month period for the next 12 years and earn annual interest of 8.5%, compounded semi
    11·1 answer
  • Suppose workers notice a fall in their nominal wage but are slow to notice that the price 0fthings (actual
    5·1 answer
  • Mary Stahley invested $4500 in a 48-month certificate of deposit (CD) that earned 9.5% annual simple interest. When the CD matur
    9·1 answer
  • Matthew Martin, the sole stockholder of Innovation Consulting, started the business by investing $40,000 cash in exchange for co
    5·1 answer
  • Marigold Corp. sold goods with a total selling price of $809,700 during the year. It purchased goods for $390,100 and had beginn
    12·1 answer
  • Isobel consumes positive quantities of both jam and juice. The price of jam is 10 cents per unit and the price of juice is 5 cen
    10·1 answer
  • assuming everything else stays the same, an increase in the price of laptop computers will of laptop computers.
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!