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3 years ago

A double coincidence of wants

Business

1 answer:

Lyrx [107]3 years ago

6 0

Answer:

All of the above are correct.

Explanation:

A double coincidence of wants is a situation in which two parties possess items that the other wants, so they can exchange items directly without using money.

It is required in a barter economy or an economy that does not use money or a fixed medium of exchange. Such an economy exchange is good for goods.

Double coincidence of wants has a number of limitations. It reduces the scope for the specialization of goods. It creates problems inefficient allocation of resources. It also more time consuming to find someone who possesses what you need and wants what you have.

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A shop sells pineapple smoothies for $ 2.75 and mango smoothies $ 3.25 . On Saturday, a total of 60 cups were used to serve smoo

Ymorist [56]

Answer:

2.75x + 3.25y = 172.50 ... Equation 1

x + y = 60 ... Equation 2

Explanation:

Where x = number of pineapple smoothies and

y = number of mango smoothies

Also given that, cost of pineapple smoothies = $ 2.75

and cost of mango smoothies = $ 3.25

The total sales made by the company is the addition of the sum made from mango smoothies and pineapple smoothies.

Total amount made from pineapple smoothies = cost of pineapple smoothies × number of pineapple smoothies sold

= 2.75 × x

= 2.75x

Total amount made from mango smoothies = cost of mango smoothies × number of mango smoothies sold

= 3.25 × y

= 3.25y

Therefore where total sales = $172.50

2.75x + 3.25y = 172.50

Also, since there were 60 cups used in all. Where a cup is used for a smoothie,

x + y = 60

Therefore the equations representative of the situation are

2.75x + 3.25y = 172.50

and

x + y = 60

8 0

4 years ago

Tax rates for proprietorships, partnerships, and LLCs ______ with the passage of the Tax Cuts and Jobs Act of 2017.

Alex73 [517]

The provision on tax rates for proprietorship, partnerships, and LLCs <u>changed</u> with the passage of the Tax Cuts & Jobs Act.

The Tax Cuts & Jobs Act is a legislation that guides tax rate on income and addresses concerns about tax credit for employers.

In conclusion, the provision on tax rates for proprietorship, partnerships, and LLCs <u>changed</u> with the passage of the Tax Cuts & Jobs Act.

Read more about Tax Cuts & Jobs Act

<em>brainly.com/question/26171421</em>

5 0

2 years ago

Carver Lumber sells lumber and general building supplies to building contractors in a medium-sized town in Montana. Data regardi

masya89 [10]

Answer:

$39,300

Explanation:

The computation of the net income is shown below:

= Sales - cost of good sold - other monthly expenses - depreciation expense

= $320,000 - $240,000 - $24,700 - $16,000

= $39,300

The cost of goods sold is computed below:

= December sales × cost of goods sold percentage

= $320,000 × 75%

= $240,000

All other information which is given is not relevant. Hence, ignored it

4 0

3 years ago

Equivalent Units, Unit Cost, Valuation of Goods Transferred Out and Ending Work in Process The blending department had the follo

katen-ka-za [31]

Answer:

1. Output in equivalent units for March is 22,950.

2. Unit manufacturing cost for March is $3.60

3. Cost of goods transferred out for March is $77,760

4. March's EWIP is $4,860

Explanation:

Given:

Units in BWIP — Units completed = 21,600

Units in EWIP (60% complete) = 2,250

Total manufacturing costs = $82,620

1) Units completed = 21,600

Ending work in process at 60% = 2,250 × .60 = 1,350

Output in equivalent units = 21,600 + 1,350 = 22,950

Output in equivalent units for March is 22,950.

2) Total manufacturing costs = $82,620

Equivalent units for March = 22,950

Unit manufacturing costs = Total manufacturing costs ÷ Equivalent units for March

= $82,620 ÷ 22,950 = $3.60

Unit manufacturing cost for March is $3.60

3) Manufacturing cost per unit = $3.60

Completed and transferred out units = 21,600

Cost of goods transferred out = Manufacturing cost per unit × Completed and transferred out units

= $3.60 × 21,600 = $77,760

Cost of goods transferred out for March is $77,760

4) Ending work in progress at 60% = 2,250 × 60% = 1,350

Cost per unit = $3.60

Value of March's EWIP = Ending work in progress at 60% × Cost per unit

= 1,350 × $3.60 = $4,860

4 0

3 years ago

The following information relating to a company's overhead costs is available. Col1 = Actual total variable overhead, Actual tot

Free_Kalibri [48]

Answer:

A) $2,000 favorable

Explanation:

Actual total variable overhead = $ 73,000

Actual total fixed overhead = $ 17,000

Budgeted variable overhead rate per machine hour = $ 2.50

Budgeted total fixed overhead = $ 15,000

Budgeted machine hours allowed for actual output = 30,000

Budgeted variable overhead = $ 2.50 x 30,000 = $ 75,000

Variable overhead variance = Budgeted variable overhead - Actual total variable overhead

Variable overhead variance = $ 75,000 - $ 73,000 = $ 2,000

Since the actual value is under the budgeted value, the variable overhead variance is $2,000 favorable.

5 0

3 years ago