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Shalnov [3]
3 years ago
13

Current news and politics is full of concern about the environment, particularly as it is related to oil use and the auto indust

ry. There are a number of ethical considerations that arise out of these issues. Please be sure to answer ALL of the following questions: Some propose that these concerns could be alleviated if our use of cars was limited by increased gasoline taxes--if gas is more expensive, we will use less of it and, as a beneficial by-product, improve the environment. What do you think of this proposal and what theory would support your position? Are there injustices built into such measures?
Business
1 answer:
alina1380 [7]3 years ago
8 0

Answer:

It is true that raising gasoline prices (either by producing less of it, or by adding taxes) would reduce gasoline use. The concept of price elasticity of demand can helps us explain why.

Explanation:

A good can be either elastic or inelastic depending on its price elasticity of demand. A price elasticity of demand of less than 1 is considered inelastic, while a price elasticity of demand higher than 1 is considered elastic.

Elastic goods are those whose quantity demanded falls or rises more than the price. Inelastic goods are those whose quantity demanded falls or rises less than the price.

Gasoline is a inelastic good in the short-term because even with a price hike, most people will still buy gasoline because they need to move around. However, in the long-term, gasoline becomes more elastic because people replace their buy electric cars, or cars that use less fuel, etc.

What this tells us is that raising gasoline prices can reduce gasoline use in the long-term.

A built-in injustice in this measure is that it affects the poor disproportionally. Poor people also need cars to get around, and a rise in the gasoline price means that they have less money for other basic needs.

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Teagan Company uses Departmental Overhead allocation to allocate its manufacturing overhead costs. It has identified two​ depart
Sunny_sXe [5.5K]

Answer:

Machining:

Allocated MOH= $603

Assembly:

Allocated MOH= $450

Explanation:

Giving the following information:

Machining:

Allocates overhead using machine-hours

Estimated manufacturing​ overhead: ​ $670,000

Estimated machine-hours= 10,000

Assembly:

Allocates overhead using direct labor hours.

Estimated manufacturing​ overhead: ​$450,000

Estimated direct labor hours= 15,000 hours

First, we need to calculate the estimated manufacturing overhead rate for each department:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machining:

Estimated manufacturing overhead rate= 670,000/10,000= $67 per machine hour

Assembly:

Estimated manufacturing overhead rate= 450,000/15,000= $30 per direct labor hour.

Job​ 601:

Machining​ Department: 9 Machine Hours

Assembly​ Department: 15 DL hours

To allocate overhead we use the following formula:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Machining:

Allocated MOH= 67*9= $603

Assembly:

Allocated MOH= 30*15= $450

5 0
3 years ago
Froya Fabrikker A/S of Bergen, Norway, Is a small company that manufactures specialty heavy equipment for use In North Sea oil f
solmaris [256]

Answer:

1) JOURNAL ENTRIES

a) Debit Material Account $290,000 Credit Accounts Payable $290,000

b) Debit Work in process $ 275,000 Credit Material Account $275000

c) Debit Factory overheads $69300, Debit Selling and admin (utility expense) $7,700 Credit Accounts Payable $77,000

d) Debit Work in process $320,000 Debit Factory overheads $108,000

Credit Salary and wages Payable $428,000

e) Debit Factory overheads $72,000 Credit Accounts payable $72,000

f) Debit Selling and admin expense (Advertising) $154,000 Credit Accounts payable $154,000

g) Debit Debit depreciation expense $90000 Credit Accumulated depreciation on Factory equipment $67,500 Credit Accumulated depreciation on selling and admin facilities $22,500

h)Debit Factory rent $92000 Debit selling and admin rent $23000 Credit Accounts payable $115000

i) Debit Work in process $417,100 Credit Manufacturing overhead costs $417,100

j) Debit Finished goods $950,000 Credit work in process $950,000

k) Debit Accounts receivables $2,100,000 Credit Revenue $2,100,000

    Debit cost of sales $980,000 Credit Finished goods $980000

2)   DR                                     Raw materials                                        CR

opening bal                48000             work in process                  275000

Accounts payable     290000            balance c/d                         63000

                                  338000                                                         338000

                                            work in process

opening balance             39000          finished goods                   950000

Raw materials                275000          balance c/d                       101100

salaries payable           320000

applied overheads      417100                                                        

                                    1051100                                                       1051100

                                           finished goods

opening balance             78000            cost of sales                  980000

work in process             950000           balance c/d                   48000

                                      1028000                                                1028000

                                            Manufacturing overheads

accounts payable                  69300            work in process    417100

salaries payable                    108000

accounts payable                  72000

depreciation                          67500

Accounts payable                92000

cost of sales (over)              8300

                                            417100                                                  417100

                            selling and admin overheads

Accounts payable                 7700           Profit and loss account    207200

Accounts payable               154000

Depreciation                        22500

Accounts payable               23000

                                            207200                                                     207200

                Accumulated depreciation on Factory equipment

         balance c/d   67500                    depreciation                             67500

               Accumulated Depreciation on selling and admin facilities

balance c/d      22500                 depreciation                                 22500

                                      Accounts payable

             balance c/d         638700   raw materials                     290000

                                                        accounts payable                  69300

                                                        accounts payable                  72000

                                                        Accounts payable                92000

                                                        Accounts payable                 7700

                                                       Accounts payable               154000

                                                       Accounts payable               23000

                                       638700                                                      638700

                                         cost of sale

Finished goods         980000                  manufacturing overheads 8300

                                                                  trading account               971700

                                 980000                                                             980000

                                                 sales

trading account                2100000        Accounts receivable          2100000

                                            trading account

cost of sales              971700             sales                       2100000

 gross profit             1128300

3) cost of goods manufactured

direct material                             275000

Direct labor                                 320000

applied overheads                     417100  

cost of goods manufactured  <u>1012100</u>

4a)  Debit Manufacturing overhead 8300 Credit cost of sales 8300

4b)  finished goods

opening                78000

work in process      950000

closing goods         48000

Cost of goods sold  <u> 980000</u>

5)INCOME STATEMENT

SALES                                                                         2100000

COST OF SALES                                                          -971700

gross profit                                                                  1128300

selling and admin costs                                            -207200

Net income                                                                $921100

Explanation:

5 0
3 years ago
High school is referred to as _____ education.
Vanyuwa [196]

Answer:

secondary

Explanation:

as 10 class is rrferred to as secondary education

plz folliw me

3 0
3 years ago
Read 2 more answers
Which of the following is true of Peter Senge’s contributions to management thought and practices? A. He has made several signif
puteri [66]

Answer:

A. He has made several significant contributions to the areas of organizational learning and change.

Explanation:

<em>Option B</em>: Peter Drucker was the first person to discuss MBO, not Peter Senge. So, this option is incorrect.

<em>Option C</em>: It is the function of management. Therefore, Peter Senge might contribute to this one, but there is no evidence. So, it is wrong.

<em>Option D</em>: Peter Senge advocated the scientific methods of management, but not for the determination of efficient production.

<em>Option E</em>: He does not contend with the bureaucratic structure. Therefore, it is wrong, either.

<em>Option A</em>: It is the answer because he has made several contributions to the areas of organizational learning through the establishment of the society of organizational learning.

8 0
3 years ago
Look at the picture, which one is the correct answer?
Vinil7 [7]
I think it “A law of demand”?
4 0
3 years ago
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