Which of the following would an economist most likely classify as a need

There are a number of toothpastes marketed under the Crest brand, including Cavity Protection Crest, Pro-Health Sensitive Shield

SashulF [63]

Answer:

B. product line

Explanation:

The large variety of toothpastes under the Crest brand is an example of a product line

7 0

3 years ago

Presented below is the trial balance of Bramble Corporation at December 31, 2020.

8_murik_8 [283]

Answer:

Bramble Corporation

Assets:

Current Assets:

Cash $ 201,440

Debt Investments (trading)

(at cost, $145,000) 155,150

Accounts Receivable 437,150

Allowance for

Doubtful Accounts 27,150 410,000

Inventory 601,440

Total current assets $1,368,030

Long-term assets:

Debt Investments (long-term) 303,440

Equity Investments (long-term) 281.440

Land 262,150

Buildings 1,044,440

Accumulated Depreciation 152,000 892,440

Equipment 602,150

Accumulated Depreciation 60,000 542,150

Franchises 160,000

Patents 195,000

Total long-term assets $2,636,620

Total assets $4,004,650

Liabilities + Equity:

Current Liabilities:

Notes Payable (short-term) 92,150

Accounts Payable 457,150

Dividends Payable 140,440

Accrued Liabilities 98,150

Total current liabilities $787,890

Notes Payable (long-term) 904,440

Bonds Payable 1,004,440

Total long-term liabilities $1,908,880

Total liabilities $2,696,770

Common Stock ($5 par) 1,002,150

Treasury Stock 193,150

Net Stock outstanding 809,000

Retained Earnings, December 31 414,440

Paid-in Capital in Excess of Par 84,440

Total equity $1,307,880

Total liabilities + equity $4,004,650

Explanation:

a) Data and Calculations:

Debit Credit

Cash $ 201,440

Debt Investments (trading)

(at cost, $145,000) 155,150

Accounts Receivable 437,150

Inventory 601,440

Sales $ 8,102,150

Cost of Goods Sold 4,800,000

Allowance for Doubtful Accounts 27,150

Debt Investments (long-term) 303,440

Equity Investments (long-term) 281.440

Notes Payable (short-term) 92,150

Accounts Payable 457,150

Dividends Payable 140,440

Accrued Liabilities 98,150

Notes Payable (long-term) 904,440

Bonds Payable 1,004,440

Common Stock ($5 par) 1,002,150

Treasury Stock 193,150

Retained Earnings 82,440

Paid-in Capital in Excess of Par 84,440

Investment Revenue 67,180

Land 262,150

Buildings 1,044,440

Accumulated Depreciation-Buildings 152,000

Equipment 602,150

Accumulated Depreciation Equipment 60,000

Franchises 160,000

Patents 195,000

Selling Expenses 2,002,150

Administrative Expenses 904,180

Interest Expense 215,180

Gain 84,180

Totals $12,358,460 $12,358,460

b) Income Statement for the year ended December 31, 2020:

Sales $ 8,102,150

Cost of Goods Sold 4,800,000

Gross profit $3,302,150

Investment Revenue 67,180

Gain 84,180

Total Income before expenses $3,453,510

Selling Expenses 2,002,150

Administrative Expenses 904,180

Interest Expense 215,180

Total Expenses (3,121,510)

Net Income $332,000

Retained Earnings 82,440

Retained Earnings, December 31 $414,440

7 0

3 years ago

Dan has been directed to study the forces close to a company that affect its ability to serve its customers, such as the company

shutvik [7]

Answer:

Micro environment

Explanation:

The institution's micro-environment comprises of those components that are manageable. Generally the micro-environment doesn't really impact all businesses in a sector in same manner, as the scale, efficiency, competence and approaches are different.

For instance, the suppliers of raw materials are giving big corporations more compromises. We might not offer small businesses the same concessions though. Thus, from the above we can conclude that the correct answer is micro-environment.

5 0

3 years ago

Consider the market for orange juice. Suppose two events occurred last week. During the course of this past week, the price of o

True [87]

Answer:

these two events would lead to an increase in equilibrium quantity and have an indeterminate effect on equilibrium price

Explanation:

As a result of the decrease in the price of oranges which is use in the production of orange juice, there would be a rightward shift of the supply curve for orange juice. A a result, the supply of orange juice would increase and price of orange juice would fall

Substitute goods are goods that can be used in place of another good.

The doubling of the price of coke would lead to a decrease in the demand for coke and an increase in the demand for orange juice. This would shift the dead curve for orange juice to the right. As a result, both equilibrium price and quantity increases

these two events would lead to an increase in equilibrium quantity and have an indeterminate effect on equilibrium price

8 0

3 years ago

Gale Corporation manufactures windsocks. The business recently decided to adopt an ABC system. The following activities have bee

solniwko [45]

Answer:

$270,000

Explanation:

The first step is to calculate the overhead cost of the material handling parts

Since each wind stock require 3 parts then the overhead cost can be calculated as follows

= 3 × 20,000

= 60,000

The overhead cost of machining hours can be calculated as follows

Since 5 minutes is spent in the machining department then overhead cost is

= 5× 20,000

= 100,000

The overhead cost of packaging number of finished units can be calculated as follows

= 2 × 20,000

= 40,000

Total overhead cost= 100,000 + 60,000 + 40,000

= 200,000

The total cost of direct materials and labor can be calculated as follows

= 3.5 × 20,000

= 70,000

Therefore the total cost of producing 20,000 windstocks is

= Total overhead cost + total cost of direct materials and labor

= 200,000 + 70,000

= $270,000

Hence the total cost of producing 20,000 windstocks is $270,000

5 0

3 years ago