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mart [117]
3 years ago
11

If a family spends its entire budget in a given time frame, the family can afford either 90 cans of soup or 60 frozen dinners. A

ssuming the family spends its entire budget on just these two goods, what is the opportunity cost of one extra can of soup in the time frame? (Round your answer to two decimal places.)
Business
1 answer:
g100num [7]3 years ago
8 0

Answer:

0.67

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If the family buys one can of soup, the opportunity cost is the frozen food forgone.

Opportunity cost of one can of soup = 60 / 90 = 0.67

I hope my answer helps you

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Pedro wants to open his own business. To get a loan for the business, the bank needs him to give them some collateral. What is a
elixir [45]

Answer:

see below

Explanation:

Collateral refers to a valuable asset that a borrower offers to a lending institution to guarantee that they will repay the requested loan. Usually, collateral has a higher value than the loan amount. Collateral reduces the risk to the lender, which translates to lower interest rates.

Examples of assets that Pedro can use as collateral include.

1. Motor Vehicles

2. Properties such as land and Buildings

3. Machinery and equipment

4. Inventory

6 0
3 years ago
Theo is injured at work and files a workers' compensation claim, which is administered by the workers' compensation agency in hi
mixas84 [53]
Because the judge has the final answer because Theo waved his right for a trial
3 0
3 years ago
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $530,000, and factory payro
shtirl [24]

Answer:

Marcelino Co.

a. Total materials purchases = $530,000

b. Direct materials used in production:

Beginning balance of direct materials = $73,000

Current direct materials used =              442,000

Total materials used in production =    $515,000

c. Direct labor paid and assigned to Work in Process Inventory:

                                        Job 307      Job 308           Total

Beginning Direct labor   $17,000                            $17,000

Current Direct labor       153,000     $102,000     255,000

Total Direct labor         $170,000     $102,000   $272,000

d. Indirect labor paid and assigned to Factory Overhead:

Indirect labor   $28,000

Applied =          $27,720 (99% ($193,000/$195,000))

e. Overhead costs applied to Work in Process Inventory

=

Job 307      Job 308           Total

76,500          51,000     $127,500

f. Actual overhead costs incurred and paid in cash:

Indirect materials                            $51,000

Indirect labor,                                 $28,000

Factory rent,                                  $40,000

Factory utilities,                             $25,000

Total overhead costs =                $144,000

g. Transfer of Jobs 306 and 307 to Finished Goods Inventory:

                                              Job 307      Job 308           Total

Balances on March 31

Direct materials                   $42,000                            $42,000

Direct labor                             17,000                               17,000

Applied overhead                   8,500                                 8,500

Costs during April

Direct materials                  210,000      $100,000     $310,000

Direct labor                         153,000        102,000      255,000

Applied overhead                76,500          51,000        127,500

Total cost                        $507,000     $253,000    $760,000

h. Cost of goods sold for Job 306 = $349,000

i. Revenue from the sale of Job 306 = $700,000

j. Assignment of underapplied overhead to the Cost of Goods Sold account:

Total overhead applied = $179,000

Total overhead incurred = 195,000

Underapplied overhead = $16,000

Explanation:

a) Data and Calculations:

Raw materials Inventory (March 31) $88,000

Purchases of raw materials during April = $530,000

Factory Payroll cost = $386,000

Overhead costs =

Indirect materials                            $51,000

Indirect labor,                                 $28,000

Factory rent,                                  $40,000

Factory utilities,                             $25,000

Factory equipment depreciation, $51,000

Total overhead costs =               $195,000

                                 Job 306      Job 307      Job 308           Total

Balances on March 31

Direct materials        $31,000     $42,000                            $73,000

Direct labor                 21,000        17,000                               38,000

Applied overhead      10,500         8,500                                19,000

Balances                 $62,500     $67,500                           $130,000

Costs during April

Direct materials      132,000      210,000      $100,000    $442,000

Direct labor             103,000      153,000        102,000      358,000

Applied overhead    51,500        76,500          51,000       179,000

Total cost            $349,000   $507,000     $253,000  $1,109,000

7 0
3 years ago
If the MPC in an economy is 0.8, government could close a recessionary expenditure gap of $100 billion by cutting taxes by
QveST [7]

Answer:

cutting taxes by $125 billion

Explanation:

given data

economy = 0.8

expenditure gap = $100 billion

to find out  

cutting taxes

solution

we get here cutting or reduce taxes that is express as

cutting taxes = \frac{expenditure\ gap}{MPN\ economy} ......................... 1

cutting taxes = \frac{100}{0.8}    

solve we get cutting taxes

cutting taxes = $125 billion

so cutting taxes by $125 billion

8 0
3 years ago
Jason opened up a steak and seafood restaurant. When Jason opened his business, his primary objective was to ________a. help the
Marizza181 [45]

Answer:

The correct answer is letter "B": make a profit.

Explanation:

Every business idea starts with the objective of reaching the same purpose: making a profit. The profit measures how well an organization went given a period and determines if its operations will continue the same, contract or expand. Thanks to the profits, wages can be paid to employees and taxes can be collected so the region's government can also attempt to achieve society's goals.

6 0
3 years ago
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