Answer:
Debit to work in process for $79,000
Explanation:
The journal entry is shown below:
Work in process Dr $79,000
To Direct material $79,000
(Being requistion from the storeroom is recorded)
Here work in process is debited as it increased the assets and credited the direct material as it decreased the assets
Working note
Total material requisitions. = $ 83,000
Less : Indirect material. =. ($ 4000)
Direct material $79,000
Answer:
7
$3
Explanation:
Equilibrium is the point where Quanitity supplied equals quantity demanded. The price at this point is known as the equilibrium price and the Quanitity at this point is known as equilibrium Quanitity.
Quanitity demanded is equal to Quanitity supplied at 7 units. Price at this point is $3
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Answer:
* The present value (at age 30) of retirement savings is $46,982.
* Amount expect when retiring: $959,089.
Explanation:
* The present value (at age 30) of retirement savings:
The contribution that is made on the 31st birthday = 31 years old salary * 8% = 30 years old salary * 1.04 * 8% = 35,000 * 1.04 * 8% = $2,912.
We apply the formula for calculating the present value of growing annuity to determine the present value of retirement savings at age 30:
[2,912 / ( 9% - 4%)] * [ 1 - [(1+4%)/(1+9%)]^35 ] = $46,982.
* Amount expect when retiring:
We apply the formula for calculating the future value of growing annuity to determine the future value of retirement savings at age 65:
[2,912/ (9% - 4%) ] * [ 1.09^35 - 1.04^35 ] = $959,089
Answer:
it is very simple and easy to do it.
Explanation:
Companies that use average cost pricing just add markup that they consider reasonable to the average cost of a product, and you have the final selling price of the product.
A disadvantage of using average cost pricing is that t does not consider how costs change as your sales level changes. This method usually works best when the company is able to estimate its total sales ad then use that estimation to calculate the average cost price.
How will goods or services be produced? is the basic basic economic question does this decision answer in a free market economy.
<h3>What is a Market economy?</h3>
In a market economy, firms and individuals interact to determine how much goods and services should cost and how to best allocate scarce resources. This word often refers to an economy that is more market oriented overall, however there may be some government intervention or central planning.
Classical economists like Adam Smith, David Ricardo, and Jean-Baptiste Say created the theoretical framework for market economies. These traditional liberal proponents of the free market thought that the "invisible hand" of the profit motive and market incentives typically led economic decisions in directions that were more productive and efficient than government economic planning.
Learn more about market economy
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