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3 years ago

When the allocation of goods and services by a modern mixed economy is not efficient,

1 answer:

maks197457 [2]3 years ago

6 0

Hey there!

Governements may step in to resolve the market failure is the answer to your question

Have a great day! :)

You might be interested in

Mr. and Mrs. Pitt filed a joint tax return in 2017. The couple divorced in 2018. The IRS audited their 2017 return and determine

AURORKA [14]

Answer:

C. Because the couple is divorced, the IRS must apportion the deficiency between Mr. and Mrs. Pitt based on their relative contribution to their 2015 taxable income.

Explanation:

Because Mr and Mrs Pitt filed for a joint tax return in 2017 and got divorced in 2018 and IRS audited their tax return and found that they both underpaid their tax, the IRS must apportion the deficiency 50-50 between both of them based on their separate returns.

3 0

3 years ago

Eaton Electronics uses a periodic inventory system.

aev [14]

The cost of ending inventory of Eaton Electronics on June 30 is $13,600.

<h3>What is the LIFO method?</h3>

The LIFO method values the cost of goods sold based on the assumption that goods sold are from the latest stock.

For example, using LIFO, Easton would have the two TVs sold based on the cost of the May Purchases instead of specific identification.

<h3>Data and Calculations:</h3>

Beginning inventory (2 x $1,500) = $3,000

April Purchases (4 x $1,450) = $5,800

May Purchases (5 x $1,600)= $8,000

Cost of goods available for sale = $16,800

Cost of goods sold (2 x $1,600) = $3,200

Ending inventory = $13,600 ($16,800 - $3,200)

Thus, the cost of ending inventory is $13,600.

Learn more about the LIFO method at brainly.com/question/10026597

#SPJ1

6 0

2 years ago

which of the following home purchasing considerations would probably affect older home buyers the least

juin [17]

I'm guessing it is B because it doesn't have enough information. My reasoning is because: Just because you are buying a house doesn't mean you have kids or will have kids, and if you don't elementary school wouldn't be a factor you will consider

hope this helps

4 0

3 years ago

The following data relate to direct labor costs for the current period:

mr Goodwill [35]

Answer:$2,125 unfavorable

Explanation:

Given

Standard costs 9,000 hours at $5.50

Actual costs 8,500 hours at $5.75

we have two formulas to calculate for direct labor rate variance is:

1ST ----Direct Labor rate variance = (Actual Rate- Standard Rate ) x Actual hour

=( $5.75 -$5.50) x 8,500 = $2,125 unfavorable

2ND----Direct Labor Rate Variance=Actual Direct Labor Cost Incurred - Standard Direct Labor Cost Based on Actual Hours

=Actual Hours x Actual Rate -Actual Hours x Standard Rate

= ($5.75 x 8,500 hours)-($5.50 x 8,500 hours)

$48,875 - $46,750 = $2,125 unfavorable

when the actual rate is higher than the standard rate, the Direct Labor Rate Variance is unfavorable and if the actual rate is lower than standard rate, the variance is favorable.

3 0

3 years ago

During its first year in business, Comfy Home accounted for its inventory using the last in first out (LIFO) method. In the seco

Dmitry [639]

Answer:

Consistency principle

Explanation:

Accounting principles are defined as the general rules of.axcpunting that businesses are expected to follow when reporting financial information.

Accounting principles include:

- Accrual principle

- Conservatism principle

- Consistency principle

- Cost principle

- Economic entity principle

- Full disclosure principle

- Going concern principle

- Matching principle

- Materiality principle

- Monetary unit principle

- Reliability principle

- Revenue recognition principle

- Time period principle

Consistency principle requires one the continue using an accounting method consistently for future accounting periods so that information can be easily comparable.

In the given scenario the accountant tells Tenisa that US GAAP allows a company to choose its inventory valuation method as long as it doesn't change over time without a justifiable reason.

This is an example of consistency principle

5 0

2 years ago