If the economy has 100 workers, then the economy can produce a maximum of 500 tennis rackets.
Given, MPLT = 5 tennis rackets
MPLB = 4 baseball bats Number of workers =100
So, if the economy has 100 workers, then, 5 × 100 = 500
Hence, the economy can produce 500 tennis rackets.
There are two main sources of growth of the economy. First is the growth in the size of the workforce and second, growth in the productivity of that workforce.
Hence, either can increase the overall size of the economy but only strong productivity growth can increase per capita GDP and income.
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Answer:
$71,340
Explanation:
The computation of the cost of inventory is shown below:
= Purchase value of inventory - discount charges + freight charges
where,
Purchase value of an inventory = $72,000
Discount charges = $72,000 × 3% = $2,160
Freight charges = $1,500
So, the cost of inventory is
= $72,000 - $2,160 + $1,500
= $71,340
The discount terms is 3% if payment is made within 10 days and total time of payment is 30 days instead of 33%
Answer:
individualism
Explanation:
A post-conventional level of morality is most likely to be found in cultures that value individualism.
An example of post-conventional level of morality is the refusal to pay taxes or levies by an individual due to the fact that his/her conscience wouldn't let him/her support a tyrannical government or leadership.
Answer:
When accounting for revenue over time for a long-term contract, the percentage of completion used to recognize revenue in the first year usually is determined by measuring Costs incurred in the first year, divided by estimated total costs for the completed project
Explanation:
The percentage of completion method of revenue recognition is a concept in accounting that refers to a method by which a business recognizes revenue on an ongoing basis depending on the stages of a project’s completion.
In other words, the percentage of completion method is used for longer-term projects and recognizes revenue and expenses as a percentage of the project’s completion during the period.
Answer:
b. understate the predetermined overhead rate
Explanation:
The rate is determinate by distributing the expected cost over the cost driver
In this case labor cost.
as this value is higher than it should
(labor + some indirect)
the result of the division will be lower thus, the overhead rate is lower than it should be without the mistake.
