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3 years ago

Which one of the following statements is true?

1 answer:

n200080 [17]3 years ago

8 0

The Statements-In a j<u>ob-costing syste</u>m, individual jobs use different quantities of production resources, In a <u>process-costing system</u> each unit uses approximately the same amount of resources.-Both the statement are True

(D) Both (a) and (b) are true.

Explanation:

A <u>job costing system</u> is a system in which the cost associated with a particular job is calculated.This information is important in order to submit the cost information to the customer under a contract

<u>For example:</u>Job costing is required for deriving the cost of construction of a building,for designing a software

<u>Process costing is a term that is used in cost accounting.</u>

It is used to calculate the manufacturing cost of a Product.

<u>A processing cost system </u>is used during the mass production of the identical units .

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Short definition for business cycle ?

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A cycle or series of cycles of economic expansion and contraction.

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3 years ago

With current technology, suppose a firm is producing 400 loaves of banana bread daily. Also assume that the least-cost combinati

Taya2010 [7]

Answer:

A) Total revenue = 400 loaves of bread x $2 per loaf of bread = $800

B) Total economic costs = (5 units of labor x $40 per unit of labor) + (7 units of land x $60 per unit of land) + (2 units of capital x $60 per unit of capital) + (1 unit of entrepreneurial ability x $20 per unit) = $200 + $420 + $120 + $20 = $760

C) Economic profit or loss = total revenue - total economic costs = $800 - $760 = $40

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3 years ago

The area of a project site that is used by the building structure, defined by the perimeter of the building plan is the:

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Answer: "building footprint" .
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3 years ago

The feature that differentiates monopolistic competition from monopolies and oligopolies is that monopolistically competitive fi

Georgia [21]

Monopolistically competitive firms (A) cannot influence the market price by virtue of their size alone while monopolies and oligopolies can.

<h3>What is a monopoly?</h3>

A monopoly occurs when there is a single seller in the market.
The monopoly case is considered the polar opposite of perfect competition in conventional economic theory.
The demand curve facing the monopolist is, by definition, the industry demand curve, which is downward sloping.

<h3>What is oligopoly?</h3>

Oligopolistic markets are characterized by a small number of suppliers.
They can be found in all nations and in a wide range of industries.
Some oligopoly markets are very competitive, whereas others are substantially less so, or appear to be.

Monopolistically competitive enterprises, unlike monopolies and oligopolies, cannot influence market prices only through their size.

Therefore, monopolistically competitive firms (A) cannot influence the market price by virtue of their size alone while monopolies and oligopolies can.

Know more about monopoly here:

brainly.com/question/13113415

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Correct question:

The feature that differentiates monopolistic competition from monopolies and oligopolies is that monopolistically competitive firms.

(A) cannot influence the market price by virtue of their size alone.

(B) are price takers.

(C) do not have a price as a decision variable.

(D) benefit from barriers to entry.

7 0

1 year ago

The Converting Department of Hopkinsville Company had 640 units in work in process at the beginning of the period, which were 70

pav-90 [236]

Answer:

Whole units 14,320

Direct materials equivalent units 13,680

Conversion costs equivalent units 13,332

Explanation:

Calculation to Determine the number of equivalent units of production with respect to direct materials and conversion costs.

Hopkinsville Company Number of Equivalent Units of Production

WHOLE UNITS

Inventory in process, beginning 640

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,600

(640+12,960)

Inventory in Process ending 720

Total 14,320

(13,600+720)

DIRECT MATERIALS EQUIVALENT UNITS

Inventory in process, beginning 0

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 12,960

Inventory in Process ending 720

Total 13,680

(12,960+720)

CONVERSION EQUIVALENT UNITS

Inventory in process, beginning 192

[640-(640*70%)]

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,152

(192+12,960)

Inventory in Process ending 180

(720*25%)

Total 13,332

(13,152+180)

6 0

2 years ago