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3 years ago

List three reasons why a price-based system works more efficiently than central planning.

1 answer:

6 0

<span>Three reasons a price-based system works more efficiently than central planning are flexibility, a larger selection of goods, and resources are used entirely.

</span><span>Price based systems are more efficient because the demand from a product determines its price. Only enough product is produces that the market demands. Excess surpluses are not generated in a price based system.</span>

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Josiah, Inc. provides the following information for 2017:Net income$350,000Market price per share of common stock$50 per sha

AURORKA [14]

Answer:

Earnings per share for 2017 = $1.707

Explanation:

Earnings per share relates to the specific period, that how much on each individual share the earnings has been during the period.

Therefore, if there is change in number of equity shares average is taken, for that.

Equity on 1 Jan 2017 = 160,000 shares

Equity on 31 December 2017 = 250,000 shares

Average = $\frac{160,000 + 250,000}{2} = 205,000$

Earnings per share for 2017 = $\frac{Net\ Income}{Average\ number\ of\ shares}$

= $\frac{350,000}{205,000} = 1.707$

Earnings per share = $1.71 (Rounded off)

7 0

3 years ago

If the variable overhead efficiency variance is $500 unfavorable and the variable overhead spending variance is $100 favorable,

Vera_Pavlovna [14]

Answer:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending varian

Explanation:

Based on the information given in a situation where a variable overhead efficiency variance is UNFAVORABLE it will be DEBITED and variable overhead spending variance that is FAVOURABLE will be CREDITED.

Therefore the journal entry will include a:

a. Debit to variable overhead efficiency variance

d. Credit to variable overhead spending Variance

7 0

2 years ago

Michael Co. is a corporation that sells breakfast bars. Based on the accounts listed below, what are Michael's total trade recei

Thepotemich [5.8K]

Answer:

B. $42,000

Explanation:

Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.

For Michael Co., this can be calculated as follows:

Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales

Therefore, we have:

Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.

Therefore, Michael's total trade receivables is $42,000.

7 0

2 years ago

The investment a company makes in training employees to perform their duties and redesigning products and processes to improve t

Andre45 [30]

Answer:

True

Explanation:

Prevention Cost is the cost which is incurred to avoid the loss due to defects in the products manufactured, here the cost incurred is as follows:

Training employees that is the benefit from training will be reducing cost and improving quality of the product, therefore, it will be considered as prevention costs.

Further cost incurred for redesigning products and processes will improve the quality of the product and the process therefore this cost can also be considered as prevention costs.

Final Answer

The above statement is true.

4 0

3 years ago

How to be a successful entrepreneur?

pishuonlain [190]

Answer:

Don’t take ‘no’ for an answer

Learn from the best

Stay hungry and ambitious

Never stand still; evolve with the times

Nurture long-term business relationships

Inspire those around you

Trust your gut instinct, not just your spreadsheet

Explanation:

It takes hard work and dedication and they are many free sources that is available today such as videos

7 0

2 years ago

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