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3 years ago

Which of the following concepts requires that economic data be recorded in dollars in the United States?

Business

2 answers:

solniwko [45]3 years ago

8 0

Unit of measure concept

s344n2d4d5 [400]3 years ago

4 0

Answer:

Unit of measure concept

Explanation:

The definition for a unit of measure refers to a common principle used throughout accounting, whereby all activities should be reported uniformly using the same currency. For instance, a business that holds its documents in just the U.S. will report its whole dealings in U.S. dollars, whereas a German company will report all its payments in euros.

If a transaction includes transactions or transfers in another currency, the sum is translated until being registered to the domestic currency utilized by an entity. Without a specific standard unit, financial reports will be impossible to generate.

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Can a heat pump switch from heating to cooling and from cooling to heating automatically?

iris [78.8K]

Yes. because turning it on mainly is too hard for exp. your shower turns from hot 2 cold

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3 years ago

Builder Products, Inc., uses the weighted-average method in its process costing system. It manufactures a caulking compound that

FinnZ [79.3K]

Answer:

1.Total Equivalent Units Materials 471,600 Conversion 464,400

2. Cost Per Equivalent Unit Materials $ 1.33 Conversion $ 0.75

3. Cost of Ending Work In Process $ 39528

4. Cost Of Units Transferred Out = $ 936,000

5. Cost Materials $ 627 228 and Conversion $348,300

Explanation:

Builder Products, Inc.,

Weighted-Average Method

1. Equivalent Units

Particulars Units % of Completion Equivalent Units

Materials Conversion Materials Conversion

Transferred Out 450000 100 100 450,000 450,000

Ending WIP 36000 60 40 21,600 14,400

Total Equivalent Units 471,600 464,400

Transferred Out units are calculated by adding Opening Inventory and production started and subtracting ending inventory units.

Transferred Out units = Opening Inventory+ production started -ending inventory units

Transferred Out units =76,000 + 410,00 - 36000= 450000 units.

2. Cost Per Equivalent Units

Materials Conversion

Cost Of Opening Inventory 117,900 53600

Cost Added 613,080 294,700

Total Costs 624,980 348,300

Equivalent Units 471,600 464,400

Cost per Equivalent Unit 624980/471600 348300/464400

$ 1.33 $ 0.75

3. Cost of Ending Work In Process $ 39528

Materials = 21600 * $ 1.33= $ 28728

Conversion = 14400 * $ 0.75= $10800

We multiply the equivalent number of units with the cost per unit to find the cost.

4. Cost Of Units Transferred Out = $ 936,000

Materials = 450 000 * $ 1.33= $ 598,500

Conversion = 450000 * $ 0.75 = $ 337,500

5. A Cost Reconciliation Report

Materials Conversion

Ending WIP $ 28728 $10800

Transferred Out $ 598,500 $ 337,500

Total  627 228** 348,300

These calculated costs reconcile with the costs given in the above data.

Materials Conversion

Cost Of Opening Inventory 117,900 53600

Cost Added 613,080 294,700

Total Costs 624,980** 348,300

The difference is in the cost of materials which is actually 624,980** and we found it out to be   627 228** . This is because we rounded the Cost per Equivalent Unit of material from $ 1.325 to $1.33

If we multiply 1.325 * 471,600 we get $ 624870 which is almost the same.

5 0

3 years ago

A firm has a marginal cost of $20 and charges a price of $40. The Lerner index for this firm is:________.

zhuklara [117]

Answer:

The correct answer is:

0.50 (B)

Explanation:

The Lerner index is used by monopolists to measure market/monopolist power, and it is defined as the percent markup of price over marginal cost.

It is given by the formula:

$L = \frac{P - MC}{P}\\where:\\L = Lerner\ index\\P = price = \$40\\MC = marginal\ cost = \$20\\\\L = \frac{40\ -\ 20}{40} \\L = \frac{20}{40}\\ L = 0.5$

Note: in a perfectly competitive market, L = 0, which makes Price = Marginal cost in the equation above. But in a competitive market, it is always the case that L ≥ 0

7 0

3 years ago

A lender estimates that the closing costs on a $293,600 home loan will be $11,010. the actual closing costs were 3.25% of the lo

mestny [16]

The closing cost of the house mortgage is lower than the envisioned by 0.5%.

<h3>What is the closing cost?</h3>

Closing expenses are the prices over and above the property's rate that consumers and dealers generally incur to finish an actual property transaction.

Those expenses may also encompass mortgage origination fees, cut price points, appraisal fees, name searches, name insurance, surveys, taxes, deed recording fees, and credit score file charges.

The lender is required by regulation to expose those expenses in the form of a mortgage estimate within 3 days of a domestic mortgage application.

Gifts of equity (actual property income given to a relative or close pal at a below-marketplace rate) can also incur a few closing cost.

So, from the above announcement, it's clear that alternative D, decreasing by 0.5%, is an appropriate answer.

Learn more about closing cost, refer to:

brainly.com/question/1084194

4 0

2 years ago

An asset falling under the MACRS five-year class was purchased three years ago for $200,000 (its original depreciation basis). C

Nitella [24]

Answer:

(a) The cash flows is $59,040.

(b) The cash flows is $71,040.

Explanation:

From the Modified Accelerated Cost Recovery System (MACRS) Tables, the depreciation rates for the first 3 years for an asset falling under the MACRS five-year class are 20%, 32% and 19.2%. Therefore, we have:

Accumulated depreciation rate = 20% + 32% + 19.2% = 71.20%

Accumulated depreciation = Cost of the asset * Accumulated depreciation rate = $200,000 * 71.20% = $142,400

Net book value of the asset = Cost of the asset - Accumulated depreciation = $200,000 - $142,400 = $57,600

We can now proceed as follows:

(a) Calculate the cash flows if the asset is sold now at $60,000

Capital gains = Sales proceeds - Net book value = $60,000 - $57,600 = $2,400

Capital gains tax = Capital gains * Tax rate = $2,400 * 40% = $960

Net sales proceeds = Sales proceeds - Capital gains tax = $60,000 - $960 = $59,040

Therefore, the cash flows is $59,040 net sales proceeds.

(b) Calculate the cash flows if the asset is sold now at $80,000

Capital gains = Sales proceeds - Net book value = $80,000 - $57,600 = $22,400

Capital gains tax = Capital gains * Tax rate = $22,400 * 40% = $8,960

Net sales proceeds = Sales proceeds - Capital gains tax = $80,000 - $8,960 = $71,040

Therefore, the cash flows is $71,040 net sales proceeds.

3 0

3 years ago