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Whitepunk [10]
3 years ago
15

Suppose that the United States and Canada each produce only two products, televisions and food. The United States can produce 10

0 televisions a day, 150 pounds of food a day, or any combination in between. (For example, it could choose 100 televisions and no food, 50 televisions and 75 pounds of food, or 150 pounds of food and no televisions.) Canada can produce 300 televisions a day, 330 pounds of food a day, or any combination in between. Which of these trades could make both the United States and Canada better off?
The United States could trade Canada 20 pounds of food for 17 televisions.

The United States could trade Canada 60 pounds of food for 75 televisions.

The United States could trade Canada 100 pounds of food for 98 televisions.
Business
1 answer:
n200080 [17]3 years ago
3 0

Answer:

The United States could trade Canada 20 pounds of food for 17 televisions.

The US receives TV at a rate of 17/20 = 0.85 which is higher than their opportunity cost therefore, making a gain

While Canada receive TV at a rate lower than their economy can produce them (0.85<0.9090) thus, also making a gain

Explanation:

US

100 television or 150 pounds of food

Opportunity cost: of TV 1.5 pounds of food

Opportunity cost of food: 2/3 of a TV

CANADA

300 televisions or 330 food

Opportunity cost: of TV 1.1 pounds of food

Opportunity cost of food: 90/99 of a TV

It is cheaper for canada to produce TV and cheaper for the US to produce food.

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Wheeler’s Bike Company manufactures custom racing bicycles. The company uses a job order cost system to determine the cost of ea
Elan Coil [88]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Estimated overhead costs:

Factory machinery depreciation 59,000

Factory supervisor salaries 140,500

Factory supplies 43,900

Factory property tax 27,750

Total overhead= 271,150

1)

First, we need to determine the estimated direct labor hours for the period:

Factory direct labor= 215,558

Direct labor rate= $12.11

Direct labor hours= 215,558/ 12.11= 17,800 hours

Now, we can calculate the estimated overhead rate:

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

Estimated manufacturing overhead rate= 271,150/17,800= $15.23 per direct labor hour

2) To apply overhead, we need to use the following formula:

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

Allocated MOH= 15.23*18,900= $287,847

6 0
3 years ago
On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $45,000. Alan made the appropriate year-end
shepuryov [24]

Answer:

Debit Notes Payable $45,000; debit Interest Payable $750; debit Interest Expense $750; credit Cash $46,500

Explanation:

The journal entry is given below:

Notes payable $45,000  

Interest payable ($45,000 × 10% × 60 ÷ 360) $750  

Interest expense ($45,000 × 10% × 60 ÷ 360) $750  

            To Cash $46,500

(Being payment of notes payable is recorded)

here note payable, interest payable, interest expense is debited as it increased the expenses and decreased the liabilities while on the other hand the cash is credited as it decreased the assets

8 0
3 years ago
Suppose that 10 years ago you bought a home for $110,000, paying 10% as a down payment, and financing the rest at 8% interest fo
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Answer: $11,000

Explanation:

The solution to this problem is not tedious or complicated

Solution;

Amount is = $110,000

Percentage of down payment is given as = 10%

To get the amount of the down payments we find the 10% of $110,00

10% of $110,000 is = 10÷100

=0.1

We multiply it by the amount which is 0.1×110,000= $ 11,000

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Kobotan [32]
Accounts receivable and notes receivable
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zhenek [66]

Answer:

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