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3 years ago

URGENT PLEASE!! I'LL MAKE YOU BRAINLIST AND 90 POINTS!!!! ECONOMICS

1 answer:

6 0

LeBron James would have the absolute advantage in mowing the lawn. This is because he can get in done in two hours rather than the four hours it would take Neighbor Scotty to do it. However, he would have a much higher opportunity cost, which is why Neighbor Scotty has the comparative advantage. He may not be able to mow the lawn as quickly as Lebron, but he can do it with a lowe opportunity cost.

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The following information is available regarding the total manufacturing overhead of Molsen Company for a recent four-month peri

Sonja [21]

Answer:

$198,000

Explanation:

Calculation to determine what the total manufacturing overhead estimated for August is

First step is to calculate the Variable element

Variable element=($198,000 - $153,000)/(110,000 - 80,000)

Variable element=$45,000/30,000

Variable element= $1.50

Second step is to calculate the Fixed element

Fixed element=$198,000 - ($1.50 x 110,000)

Fixed element=$198,000-$165,000

Fixed element = $33,000

Now let compute total manufacturing overhead

Total manufacturing overhead=$33,000 + ($1.50 x 110,000)

Total manufacturing overhead=$33,000+$165,000

Total manufacturing overhead= $198,000

Therefore Using the high-low method, compute total manufacturing overhead estimated for August is $198,000

6 0

3 years ago

If Anderson works 37 hours each week as a clerk at the county courthouse, he is supplying labor in an

Romashka [77]

<u>Answers:</u>

1. If Anderson works 37 hours each week as a clerk at the county courthouse, he is supplying labor in an input market. Anderson is considered as household.

2. If Mei Lin purchases a 3-week Mediterranean cruise vacation for her parents, the cruise ship company is supplying a service in the output market.

3. The cruise ship company is considered as firm.

4. If Caterpillar doubles employment at its Huntsville, Alabama factory, Caterpillar is demanding labor in the input market.

5. Caterpillar is considered a firm.

6. If the Greyson family sells their 250-acre ranch to Marriott, so Marriot can build a new resort and golf course, the Greyson family is supplying land in an input market.

7. The Greyson family is considered household.

<u>Explanation:</u>

Households provide the demand for the goods and services in the market. Households also provide inputs to the firms in the form of labor. The households earn wages through supply of labor to the labor market. Firm is any business organisation that sells goods or services to make profits. Firms take labor as input from the households. Firms supply goods and services for the households.

Input means taking things into firm while output means giving out a product or service to households.

6 0

3 years ago

On January 1, 2017, Frostburg Company purchased for $68,500, equipment having a service life of six years and an estimated resid

m_a_m_a [10]

Answer:

Explanation:

Cost = 68500

Date = January 1, 2017

December 31, 2019

Cost = 68500

Acc. Depreiciation = -34,250 (68500/6)*3

book Value = 34,250

Exchanged asset cost = 35000

Trade in gain = 750

Accounting Entries

Asset 35000

Accumulated depriciation 34250

Asset 68500

Gain on Exchange 750

7 0

3 years ago

Given the following information, compute the total number of units for the period:

enyata [817]

Answer:

Total number of units produced for the period = 662 units

Explanation:

Total manufacturing cost = (Fixed overhead cost) + (Total direct labour cost) + (Total materials cost) + (Total Variable overhead cost)

Let the number of units produced be Q

Total manufacturing cost = $160705

Fixed overhead cost = $58000

Total direct labour cost = cost of direct labour per hour × number of direct labour hours = 2.7 × 13100 = $35370

Total direct materials cost = Direct material cost per unit × number of units produced = 75 × Q

Total variable overhead cost = 50% of total labour cost = 50% of 35370 = $17685

160705 = 58000 + 35370 + 75Q + 17685

75Q = 160705 - 58000 - 35370 - 17685

75Q = 49650

Q = 662 units

5 0

3 years ago

Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory 14,500 Ending inventory 8,700 Expenses 2,400 Ne

atroni [7]

Answer:

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Explanation:

Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning inventory ... 700 Beginning Inventory 5,000 Ending Inventory 1,700 Expenses 1,450 Net Purchases 3,900 Net Sales 9,500 Krug Service Company Expenses $ 12,500 Revenues 14,000 Cash 700 Prepaid Rent 800 Accounts Payable ...

5 0

3 years ago