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3 years ago

For what purpose are goods and services produced in a socialist economy?

Business

2 answers:

Burka [1]3 years ago

5 0

Answer: To meet all consumer needs

Explanation: In a socialist economy good and services are produces for direct use. Unlike a capitalist economy where goods and services are produced to earn profits. The purpose of producing goods in a socialist economy is to utilise the economy's scarce resources in a way that maximum consumer needs can be satisfied.

Thus, option D- to meet all consumer needs is the correct choice.

Pavel [41]3 years ago

5 0

Hi, happy to help!
D. to meet all consumer needs!
As meeting consumer needs is the only way to make profit!

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Thane Company is interested in establishing the relationship between electricity costs and machine hours. Data have been collect

dangina [55]

Answer:

The correct option : B. Cost = $ 130.00 + $ 5.90 x Machine - hours

Explanation:

Let's use the following method to solve the given problem

Now applying the high-low method of cost estimation,

High => November, 5,300 machine hours

Low => March, 2,300 machine hours

Arranging it in a simultaneous equations for total cost:

We can let fixed cost per month to be F, and the variable cost per machine -hour be V, and the number of machine-hours be Q.

Therefore

Total cost = F + VQ

High => F + 5,300Q = $ 31,400

Low => F + 2,300Q = $ 13,700

Subtracting Low from High, we have 3,000Q = $ 17,700 or Q = $ 5.90 per machine hour ................equation one

F = $ 13,700 - ( 2,300 x $ 5.90) = $ 130......................................................................equation two

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3 years ago

A. statistics encompasses all scientific disciplines in which percentages are used, data are analyzed, and probabilities are f

Arisa [49]

The anser is(B): Statistics is the science ofâ€‹ collecting, organizing,â€‹ summarizing, and analyzing information to draw a conclusion and answer questions. inâ€‹ addition, statistics is about providing a measure of confidence in any conclusions. The first step in statics involves collection of the relevant information (data) that is required. This can be from the primary (first hand) source or from secondary source (information already collected and available from other sources) The second step involves organization and analysis of the collected information or data Then the last step is where the analyzed data is interpreted and presented in a form which one can be able to draw confident conclusions from it.

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3 years ago

Sapphire Aerospace operates 52 weeks per year, and its cost of goods sold last year was $6,500,000. The firm carries eight items

OLEGan [10]

a. The average aggregate inventory value is $336,000.

b. The number of weeks of supply that the firm has is 3 weeks, approximately (2.69 ($336,000/$6,500,000 x 52).

c. The inventory turnover of Sapphire Aerospace for last year was 19.3x.

Question Completion:

Category Part Number Average Value Total Category

Inventory Units per Unit Value Totals

Raw Materials RM-1 20,000 $1 $20,000

Materials RM-2 5,000 5 25,000

RM-3 3,000 6 18,000

RM-4 1,000 8 8,000 $71,000

Work-in-process WIP-1 6,000 10 60,000

WIP-2 8,000 12 96,000 $156,000

Finished goods FG-1 1,000 65 65,000

FG-2 500 88 44,000 $109,000

Total value of inventory $336,000 $336,000

Inventory turnover = Cost of goods sold/Average inventory

= 19.3x ($6,500,000/$336,000)

Thus, the average inventory value is $336,000, while the inventory turnover was 19.3x.

Learn more about inventory turnover here: brainly.com/question/5701250

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3 years ago

What is the primary characteristic that differentials a zero based budget from a conventional budget. A. A zero based budget doe

Oksana_A [137]

Answer:

B. The zero based budget requires managers to re-justify every planned expenditure every year.

Explanation:

A zero based budget is one that does not take into account historical data when it is considering the present year budget. Each departmental requirement is re-evaluated and a new amount is assigned as budget for the year.

However conventional budgets carryover the previous year's expenses as a base data point. This results in similar budgeting across years.

So the main difference between the two is that zero based budget requires managers to re-justify every planned expenditure every year.

8 0

3 years ago

Which of the following statements are true? A direct cost is sometimes referred to as a common cost. A regional sales manager's

RoseWind [281]

Answer:

The correct answers are the following options: A regional sales manager's salary is a direct cost of the regional office in which the sales manager works - A direct cost can be easily and conveniently traced to a specific cost object.

Explanation:

On the one hand, the name of "direct costs" is refered to the ones that would be directly related to a cost object, therefore that these costs are easily recognizable to the person who manages the costs due to the fact that those will be the ones that are strictly referable to the object.

On the other hand, the "indirect costs" are the ones that have the characteristics of being the oppositive of the direct costs. Therefore that these type of costs are the ones that would not be easily referable to a cost object.

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3 years ago