Answer:
Answer = B
Explanation:
If nit many people want a product the seller would lower the price to make it seem like a bargain or make it more affordable
Answer:
$7,200 favorable
Explanation:
The computation of the material quantity variance is shown below:
= Standard Price × (Standard Quantity - Actual Quantity)
= $4 per gallon × (2 gallons × 7,000 units - 12,200 gallons)
= $4 per gallon × (14,000 - 12,200 gallons)
= $4 per gallon × 1,800 gallons
= $7,200 favorable
All other information which is given is not relevant. Hence, ignored it
Solution:
The record entry in accounting is the reporting of a report in an accounting document that displays the company's costs and credit balances. The amount of the payments must be equivalent to the sum of the credits otherwise the journal submission must be treated as unbalanced.
Raw material: a fundamental substance in its natural, changed or semi-managed condition, used as a contribution to the cycle of production for the eventual modification or transformation into a finished decent substance.
Pass journal entry
Particular Debit ($) Credit ($)
Raw material inventory (WN1) 210,000
Cash 210,000
Work in process 186,000
Raw material inventory 186,000
Factory overhead 15,000
Raw material inventory 15,000
Answer:
Explanation:
According to the wage bracket method used for tax withholding in 2016;
For a married individual and a situation whereby the number of withholding allowances claimed is four, no federal taxes have to be withheld since the salary is $930.
Also, the OASDI insurance rate = 6.2%
∴
The wages Table for Dec 31, 2016 is as follows:
Particulars Calculation Total in $
Gross Pay 930.00
<em>Less:</em>
HSA Contributions 50.00
401(k) deductions 100.00
OASDI tax (930 - 100) × 6.2% 51.46
HI tax as given -
FIT -
<em>Net Pay 728.54</em>
When the price rises from P1 to P2, consumer surplus decreases by an amount equal to B + C.
Consumer surplus, also known as buyers' surplus, refers to an economic measurement of consumer advantages that arises from market competition. It occurs when the actual price for a product or service that consumers are paying is less than the price, they are willing to pay. The changes in price affect the consumer surplus, as consumer surplus always increases as the price of a good or service decreases, and decreases as the price of a good or service increase. Visually, it is illustrated by economists as the area under the demand curve between the market price and what consumers would be willing to pay. In this case, that is represented by sum of B and C.
Note: The question is incomplete. It does not contain the figure (which is attached).
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