What is the answer pleas

If, at the current price, there is a shortage of a good, thena. sellers are producing more than buyers wish to buy.b. the market

sdas [7]

Answer:

C. the price is below the equilibrium price

Explanation:

Remember, in the law of demand and supply the quantity supplied is dependent on the value of the price of a good.

In this case the price is below the equilibrium price; meaning demand would be higher than the supply which results in the shortage of the good and the company therefore raises the price of the good.

For example, the price of oranges decrease in the equilibrium price (from $10 to $5), resulting in an increase in the demand for oranges.

The increase in demand would lead to shortage, making farmers increase price wanting to supply more.

7 0

3 years ago

Two types of cars (Deluxe and Limited) were produced by a car manufacturer last year. Quantities sold, price per unit, and labor

frez [133]

Answer and Explanation:

Labor Productivity in Units per hour

Labor Hours Productivity(In units) = Total Output / Input hours

For Deluxe Cars = 5,000 units / 21,250 hours = 0.24 units per hour (approx)

For Limited Cars = 6,250 units / 29,950 hours = 0.21 units per hour (approx)

Labor Productivity in dollars

Labor Hours Productivity(In dollars) = Total Output in dollar / (Input hours x rates)

For Deluxe Cars = (5,000 units x $8,500) / (21,250 hours x $13) = $42,500,000 / $276,250 = $153.84 per unit

For Limited Cars = (6,250 units x $10,100) / (29,950 hours x $15) = $63,125,000 / $499,250 = $126.44 per unit

7 0

3 years ago

On January 1, 2013, Craig Company paid the premium on a four-year insurance policy in the amount of $12,000. At that time, the f

Dima020 [189]

Answer:

option (C) $3,000

Explanation:

Data provided:

Policy duration = 4 years

Policy amount = $12,000

Date on which premium is paid = January 1, 2013

Date on which entry is adjusted = December 31, 2015

Now,

The time passed between January 1, 2013 to December 31, 2015 = 3 years

Therefore,

Amount to be recognized as insurance exp. on December 31, 2015

= $\$12,000\times\frac{\textup{Time elapsed}}{\textup{Total policy duration}}$

= $\$12,000\times\frac{\textup{3}}{\textup{4}}$

= $9,000

Thus,

The balance in the prepaid insurance account = $12,000 - $9,000 = $3,000

Hence,

The correct answer is option (C) $3,000

3 0

3 years ago

Perform a horizontal analysis providing both the amount and percentage change. (Round Percentage answers to 1 decimal place. Dec

True [87]

Answer:

Find attached

Explanation:

Horizontal or trend analysis involves is a financial statement analysis technique that shows the percentage change or dollar change in a corresponding financial statement's item.

For example, the change in the fixed assets by a way of increase or decrease compared to last year's financial statements.

Formula:

change in a particular line item=(current year amount/previous year)-1

Download xlsx

3 0

3 years ago

The company's adjusted trial balance as follows includes the following accounts balances:

Zina [86]

Answer:

Expense & revenue summary a/c (credit balance) = $3500

Explanation:

1. Dr Expense & revenue summary 52500

Cr Sales discount 1500

Cr Sales return & allowance 3000

Cr Depreciation expense 25000

Cr Salaries expense 23000

(Close expenses to expense & revenue summary a/c)

2. Dr Sales 56000

Cr Expense & revenue summary 56000

(Close sales to expense & revenue summary a/c)

3. Dr Expense & revenue summary a/c 3500

Cr Retained earning a/c 3500

(To close expense & revenue summary a/c)

4. Dr Retained earning 2000

Cr Expense & revenue summary 2000

(Close dividend to expense & revenue summary a/c)d

7 0

3 years ago