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ella [17]
3 years ago
13

What is a "social cost" of production?

Business
1 answer:
alexgriva [62]3 years ago
6 0
Sum of all costs to individuals in society, regardless of whether the costs are borne by those who produce the products or consume the product
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Big Game, Inc., is a manufacturer of hunting supplies. The following is a summary of the company's annual payroll-related costs:
grandymaker [24]

Answer:

(a) $9,435,000

(b) $5,230,000

(c) 1.27 or 127%

(d) 1.80 or 180%

Explanation:

(a) Big Game's total payroll- Related costs for the year:

= wages and salaries expense + payroll taxes + workers compensation premiums + group health insurance premium + contributions to employees pension plan

= $7,430,000 + 580,000 + 250,000 + 725,000 + 450,000

= $9,435,000

(b) Net amount of cash actually paid to employees:

= wages and salaries earned - Amount withheld from the employees pay

= $7,430,000 - $2,200,000

= $5,230,000

(c) Express total payroll related costs as a percentage of total wages and salaries expense:

= Total payroll related costs ÷ wages and salaries expense

= $9,435,000 ÷ $7,430,000

= 1.27 or 127%

(d) Express total payroll related costs as a percentage of employees take-home pay:

= Total payroll related costs ÷ Take home pay

= $9,435,000 ÷ $5,230,000

= 1.80 or 180%

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3 years ago
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Anna35 [415]

Answer:

<u>Foreign trade</u>

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Often times a major determiner of the value of countries currency is the amount of their exports.

Thomas therefore as a financial advisor <em>should advise the government to build more on production of locally available materials that are highly demanded internationally for exports, by so doing he could improve the country's currency</em>.

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Solstice Company, which uses the direct write-off method, determines on October 1 that it cannot collect $70,000 of its accounts
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<u>Oct 1</u>

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(Accounts receivable is an asset and when it increases, they are debited. When expenses increase, they are credited.)

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Dr Cash 70,000

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(Cash is an asset and when it increases, it is debited. Accounts receivable is an asset and when it decreases, they are credited)

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