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3 years ago

Production estimates for August are as follows:

Business

1 answer:

Minchanka [31]3 years ago

7 0

Answer:

Instructions are below.

Explanation:

Giving the following information:

Production:

Estimated inventory (units), August 1 12,000

Desired inventory (units), August 31 2,000

Expected sales volume (units), August 75,000

For each unit produced, the direct materials requirements are as follows:

Direct material A ($5 per pound) 3Ibs

Direct material B ($15 per pound) 1/2 Ib

First, we need to determine the number of pounds required.

Production= sales + desired ending inventory - beginning inventory

Production= 75,000 + 2,000 - 12,000= 65,000 units

Purchases in pounds:

Direct material A= 65,000*3= 195,000

Direct material B= 65,000*0.5= 32,500

Total pounds= 227,500

Now, the cost of direct material:

Direct material cost:

Direct material A= 195,000*5= $975,000

Direct material B= 32,500*15= $487,500

Total= $1,462,500

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Consider the following information:

Stolb23 [73]

Answer:

The individual will plan to spend or consume more of his wages than usual; since he believes there'll be a tax cut.

Explanation:

C = consumption

W = wages

Note: No graph is attached to the question so we can't make use of certain information in the question.

Suppose there is an announced change in tax policy - a tax cut/reduction - and a tax increase later; what is the impact of this policy on consumption if the consumer believes that the policy will be implemented?

Reasoning as an economist, the first reaction of a rational consumer is to begin to consume more since he believes the tax reduction policy will be implemented.

NOTE that sometimes the government or financial ministry in a country intentionally announce policies just so citizens can begin adjusting their consumption and investment patterns in line with them. They do not necessarily follow up with implementation of the policies.

So for a consumer who believes that there'll be a tax cut, he'll be excited and will either consume more of his present wage or consume all and borrow or dissave.

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3 years ago

Value can be increased by increasing perceived benefits while holding price or cost constant. Question 11 options: TRUE FALSE

skad [1K]

Answer:

True

Explanation:

Value is the perception of the benefits or utility associated to consuming a good or a service in relation to the price of that good or service. This basically refers to consumer surplus, how much are consumers willing to pay for a good or service vs the actual cost of the good or service. If you increase the perceived benefits, then our consumers will value our goods or services more and this would increase their consumer surplus.

Consumers are the ones that ultimately will decide the value of our goods or services, and if they assign us a higher perceived value, they will be willing to pay a higher price for them.

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3 years ago

If the primary key of the workshop offerings table contains the primary key for both the workshop table and account table, there

makkiz [27]

If the primary key of the workshop offerings table contains the primary key for both the workshop table and account table, there is a many-to-many relationship between accounts and workshops.
A one-to-many relationship includes the primary key of the “one” table as a foreign key in the “many” table.

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3 years ago

At the end of its first year, the trial balance of Ivanhoe Company shows Equipment $30,600 and zero balances in Accumulated Depr

Bas_tet [7]

Answer:

Dr Depreciation Expense $3,620

Cr Accumulated Depreciation-Equipment $3,620

Explanation:

Based on the information given we were told that the company had zero balances in both Accumulated Depreciation -Equipment as well as the Depreciation Expense in which the Depreciation amount for the year is estimated to be $3,620 which means that the adjusting entry for depreciation at December 31 will be recorded as:

Preparation of Journal entry

Dec. 31

Dr Depreciation Expense $3,620

Cr Accumulated Depreciation-Equipment $3,620

5 0

3 years ago

Jack and Jill are the only two residents in a neighbourhood, and they would like to hire a security guard. The value of a securi

allsm [11]

Answer:

Jack and Jill

a. With a proportional tax of 1 percent on income, it would be enough to pay for the security guard $120.

Jack would pay $ __40___.

Jill would pay $ __80___.

This tax _will____ be enough to pay for the security guard.

b. Based on net benefit from the guard:

Jack would pay $ __43___.

Jill would pay $ _ 77____.

Would both Jack and Jill vote for this scheme? __No___ Jack will feel cheated by Jill in the sum of $3. Jack will likely prefer the 1% based on income.

Explanation:

a) Data and Calculations:

Value of a security guard for Jack = $50 per month

Value of a security guard for Jill = $90 per month

Total value of a security guard for both Jack and Jill = $140 ($50 + $90)

Cost of hiring a guard = $120 per month

Jack's monthly earnings = $4,000

Jill's monthly earnings = $8,000

Total monthly earnings for both Jack and Jill = $12,000

a. Proportional tax of 1 percent on income = $120 ($12,000 * 1%)

Jack will pay $4,000 * 1% = $40

Jill will pay $8,000 * 1% = $80

Total = $120

b. Net benefit scheme:

Jack will pay $50/$140 * $120 = $43

Jill will pay $90/$140 * $120 = $77

Total = $120

6 0

3 years ago