Answer:
1.87%
Explanation:
Based on the above information, the formula for Quick ratio is
= ( Cash + Marketable securities + Accounts receivables ) / Current liabilities
Where;
Cash = $15,673
Marketable securities = $31,804
Accounts receivables = $69,135
Current liabilities = Accounts payable + Accrued liabilities + Notes payable
= $34,234 + $6,513 + $21,712
= $62,459
Quick ratio
= ($15,673 + $31,804 + $69,135) / $62,459
= $116,612 / $62,459
= 1.87%
Rightward change in the supply curve The cost of producing a corporation's goods would go down if the income tax was eliminated.
<h3>When a good's tax rate rises gradually, what happens to the tax revenue?</h3>
Up to T*, government revenue grows along with the tax rate. Increased tax rates cause revenue to decrease past point T*. To put it simply, attempts to impose taxes above a particular threshold are unsuccessful and actually lead to lower overall tax receipts.
<h3>Which shifts in the supply curve of a product will they occur?</h3>
A change in supply, in its simplest form, is an alteration in the quantity delivered along with a rise or fall in the supply price. A shift in supply can be brought about by new technology, such as less expensive or more efficient production methods, or by a change in the number of market rivals.
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Answer:
- Government legal minimum price $4.50 : Price Floor [Binding]
- Government maximum set price $4.50 : Price Ceiling [Non Binding]
Explanation:
Price Ceiling is the maximum mandated price by the government , at which a commodity can be sold in the market. It is binding if price ceiling is set below the free market equilibrium price level. It is usually set to protect interests of buyers.
Price Floor is the minimum mandated price by the government, at which a commodity can be sold in the market. It is binding if price floor is set above the free market equilibrium price level. It is usually set to protect interest of sellers.
'The government has instituted a <u>legal minimum price</u> of $4.50 per gallon for gasoline' is an example of Price Floor. As floor price 4.50 > equilibrium price 4 , it is binding.
'The government <u>prohibits</u> gas stations from selling gasoline for <u>more than</u> $4.50 per gallon' is an example of Price Ceiling. As price ceil 4.50 > equilibrium price 4 , it is non binding.
Answer:
Transferred out 55,800
WIP materials 10,800
WIP conversion cost 45,000
Explanation:
Materials 12,000
Labor 29,500
Overhead 18,000
Equivalent materials 20,000
Conversion 19,000
Materials cost per equivalent unit 12,000/20,000 = 0.6
Conversion cost per equivalent unit (29,500+18,000)/19,000= 2.5
Total cost equivalent unit 3.1
Transferred out 55,800 (18,000 x 3.1)
WIP materials 10,800 (18,000 x 0.6)
WIP conversion cost 45,000 (18,000 x 2.5)