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2 years ago

Land used for raising crops or livestock is generally called a

Business

2 answers:

lozanna [386]2 years ago

8 0

Answer:

A tract of land used for raising crops or livestockcan be called a field or a farm.

Dafna1 [17]2 years ago

4 0

Answer:

A tract of land used for raising crops or livestock can be called a field or a farm.

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Gelb Company currently manufactures 43,000 units per year of a key component for its manufacturing process. Variable costs are $

Mashutka [201]

Answer:

It is cheaper to buy the component. At this level of production by $40,750.

Explanation:

Giving the following information:

Production= 43,000 units

Variable costs are $2.95 per unit

Avoidable Fixed costs= $73,000 per year

Unavoidable fixed costs= $77,500 per year.

The company is considering buying this component from a supplier for $3.70 per unit.

We need to calculate the cost of producing and buying and choose the best option.

Production:

Total cost= 43,000*2.95 + 73,000= $199,850

Buy:

Total cost= 43,000*3.7= $159,100

It is cheaper to buy the component. At this level of production by $40,750.

8 0

3 years ago

The following account appears in the ledger prior to recognizing the jobs completed in January: Work in ProcessBalance, January

exis [7]

Answer:

Year-end WIP 62,200

jounral entry for completed jobs:

-------------------------------------

Finished Good Inventory 1,149,800 DEBIT

WIP inventory 1,149,800 CREDIT

-------------------------------------

Explanation:

Beginning $ 72,000

Materials $ 390,000

Labor $ 500,000

Overhead <u>$ 250,000</u>

Total WIP $ 1,212,000

<u />

<u>Finished Jobs:</u>

Job 210 $ 200,000

Job 224 $ 225,000

Job 216 $ 288,000

Job 230 <u>$ 436,800</u>

Total $ 1,149,800

the jobs complete will move to finished good and credit WIP inventory

WIP year-end:

1,212,000 - 1,149,800 = 62,200

7 0

3 years ago

The price of stadium seats at a baseball game increases from $20 to $30 and ticket sales fall from 45,000 per game to 35,000 per

Xelga [282]

Answer:

Inelastic

Explanation:

Price Elasticity of demand is the a measure which is used to show the responsiveness of the quantity to its price.

Price Elasticity of demand = Change in quantity / Change in price

% Change in quantity = ( 45,000 - 35,000 ) / 45,000 = 22.22%

% Change in price = ( 20 - 30 ) / 20 = -50%

Price Elasticity of demand = Change in quantity / Change in price

Price Elasticity of demand = 22.22% / -50% = -0.4444

As the answer is less than 1 so, demand is Inelastic.

8 0

3 years ago

Your store has average sales of $1,680 per day. Its shrinkage rate is 3%. What will its losses be for an entire year?

Lerok [7]

Answer:

$18,396

Explanation:

Average sales of the store per day = $1,680

Number of days in a year = 365

Total sales in a year = $1,680 x 365 = $6132,200

Shrinkage rate = 3%

Losses for an entire year = 0.03 x $6132,200 = $18,396

6 0

2 years ago

Point x on a linear production possibilities curve represents a combination of 50 watches and 20 clocks, and point y represents

Veronika [31]

Based on the coordinates of point x and those of point y on the linear production possibilities curve, the opportunity cost of producing one watch is 2 fewer clocks.

<h3>What is the opportunity cost of producing one watch?</h3>

The opportunity cost of producing one watch is the number of clocks that needs to be given up per watch.

This will therefore be the slope of the linear production possibilities curve which can be found as:

= (Y₂ - Y₁) / (X₂ - X₁)

Solving gives:

= (80 - 20) / (20 - 50)

= 60 / -20

= -2 clocks

This means that for every watch produced, there will be 2 clocks that will be foregone to make that watch.

In conclusion, the opportunity cost is 2 clocks.

Find out more on opportunity cost at brainly.com/question/481029.

#SPJ1

4 0

2 years ago