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3 years ago

What is an economic system? Give two examples.

Business

2 answers:

Alexeev081 [22]3 years ago

8 0

Answer:

An economic good is a physical object or service that has value and can be sold; some examples include bananas, toys, haircuts, and cars. Economic systems are the means by which countries and governments distribute resources and trade goods and services. They are used to control the five factors of production, including labor.

Explanation:

Anit [1.1K]3 years ago

6 0

Answer:

<h2>there are many economic system used throug the world.some example are socilaism,communism,and cappitism the United States has capitlastic system</h2><h2> $mark \: me \: brailest$ </h2>

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The first step in creating a budget is to identify your expenses. true or false.

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The answer is True. Hope this helps

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3 years ago

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World Company expects to operate at 80% of its productive capacity of 66,250 units per month. At this planned level, the company

Gnom [1K]

Answer:

Overhead volume variance = $3,000 Unfavorable

Overhead controllable variance = $26,500 unfavorable

Explanation:

As per the data given in the question,

Number of units produced = 80% × 66,250

= 53,000 units

Standard = 26,500 hours ÷ 53,000 units

= 0.5 direct labor hour per unit

Particulars a b Direct labor hour(a ÷ b)

Variable overhead rate $331,250 26,500 $12.5 per hour

Fixed overhead rate $53,000 26,500 $2 per hour

Total overhead rate $384,250 $15 per hour

The standard hours to produce 50,000 units = 25,000 (50,000 units × 0.50 hours per unit.)

Applied fixed overhead = $2 × 25,000

= $50,000

Overhead fixed volume variance is

= $53,000 - $50,000

= 3,000 unfavorable

Now

b) Standard hour = 50,000 units × 0.5 direct labor hour per unit

= 25,000

Overhead rate(a) Standard hours(b) Applied overhead(a × b) Actual variance

Variable overhead $12.5 25,000 $312,500

Fixed overhead $2 25,000 $50,000

Total overhead $14.5 25,000 $362,500 $389,000

= $362,500 - $389,000

$26,500 unfavorable

If the actual cost is more than the standard one than the variance should be unfavorable and If the actual cost is less than the standard one than the variance should be favorable

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3 years ago

ThingOne Company has the following information available for the past year. They use machine hours to allocate overhead. Actual

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Answer:

the variable overhead efficiency variance is $1,840 unfavorable

Explanation:

The computation of the variable overhead efficiency variance is shown below:

= Standard variable overhead rate × (standard hours - actual hours)

= $4.60 × (10,600 - 11,000)

= $1,840 unfavorable

Hence, the variable overhead efficiency variance is $1,840 unfavorable

As the standard hours would be less than the actual hours so it would be unfavorable variance

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3 years ago

Read the excerpt from "If" by Rudyard Kipling.

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Answer:

B is your answer trey

Explanation:

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3 years ago

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In previous years, Cox Transport reacquired 2 million treasury shares at $22 per share and, later, 1 million treasury shares at

Hoochie [10]

Answer:

24 million shares ; $16 million

Explanation:

The computation of the weightage number of treasury shares are shown below:

Number of shares Price Total

2 $22 $44 million

1 $28 $28 million

Total 3 $72 million

So, the weighted average number of shares would be

= $72 ÷ 3 = 24 million shares

Now the journal entry would be

Cash A/c Dr $64 million (2 million treasury shares × $32)

To Paid in capital - share repurchase A/c $16 million

To Treasury stock $48 million (24 million treasury shares × $2)

(Being the treasury shares are sold)

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3 years ago