Answer:
The purpose of this is to increase economic stability.
Answer:
185 teddy bears are in work in progress inventory
Explanation:
given data
receives order = 250 teddy bears
fabric = 300 yards
ribbon = 200 yards
cotton = 250 pounds
to find out
how many teddy bears can be considered work-in-process inventory
solution
we know that teddy bears to be manufactured is = 250
so finished and this comes under finished goods inventory are
goods inventory = 65 teddy bears
and still in the process is 185 teddy bears
so they needs to undergo further process because the work is still not completed
so we can say that 185 teddy bears are in work in progress inventory
Answer:
The best explanation for the need to allocate resources in the game of economics is that:
C) There are not enough resources to produce all of the goods and services that everyone wants.
Explanation:
In economics, it has been established that human needs are insatiable and that the resources to meet the needs are not readily and sufficiently available. This is the bedrock of Economics. It is the reason that Economics is studied as a separate course. Scarcity and needs are important concepts in human interactions. Therefore, the ability to allocate scarce resources to enable the production of goods and services is key to human development.
<span>Seek out others' points of view and perspectives</span>
Answer:
a) $1,000
Explanation:
Early Settlement Discount
This form of quotation is common with suppliers offering their customers deferred payment arrangement in a sale contract. Usually, under this arrangement customers are allowed to purchase goods on credit and settle their acccount at a specified later date.
However, to encourage customers to pay up their outstanding earlier than expected, suppliers do offer early settlement discount as incentives to induce prompt payment.
A quotation of 2/10, n/30
This implies that the customer is a given a 30-day period from the date of purchase within which he is expected to settle his account. However, if he does so within the next 10 days of purchase he will be given a 2% discount.
<em>Applying this to the question, the purchase date is August 1, the the latest date for which account is settle to qualify for early settlement discount will be 11 days i.e (1+10) .</em>
Since the payment will be made on August 12, no cash discount will received. Therefore, a payment of gross amount of $1,000 would be credited to the cash account.
