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3 years ago

What is meant by saying that economics is an empirical science?

1 answer:

4 0

The correct answer is: [A]:
__________________________________________________________
"E<span>conomic theories will be tested by seeing how well they correspond to real-world phenomena."
__________________________________________________________</span>

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On January 1, Year 5, customers owed Eagle $40,000. On December 31, Year 5, customers owed Eagle $30,000. Eagle uses the direct

irinina [24]

Answer:

$200,000

Explanation:

The computation of the net revenue is shown below:

= Cash sales gross - Returns and allowances + credit sales gross - discounts + beginning balance of account receivable - ending balance of account receivable

= $80,000 - $4,000 + $120,000 - $6,000 + $40,000 - $30,000

= $200,000

We simply first compute the net cash sales after considering the returns and allowances, and net credit sales after considering the discounts, and deduct the ending balance of account receivable

3 0

3 years ago

Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares. Be

expeople1 [14]

Answer: $15,060

Explanation:

From the question, we are informed that Ben and Jerry were shareholders of Water Ice Inc., an S corp. On Jan. 1, 1998, Ben owned 40 shares and Jerry owned 60 shares.

We are further told that Ben sold his shares to Joe for $10,000 on March 31, 1998 and that the corp. reported a $50,000 loss at the end of 1998. The loss that will be allocated to Joe will be:

= $50,000 × 40% × 9/12

= $50,000 × 0.4 × 0.75

= $15,000

The closest figure we have close to that is $15,060 which is option B

7 0

3 years ago

A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a:

goblinko [34]

A company's plan for the acquisition of long-lived assets, such as buildings and equipment, is commonly called a Capital Budget.

<h3>What is a Capital Budget?</h3>

The procedure a company uses to assess potential big projects or investments is called capital budgeting.
Before a project is accepted or denied, capital budgeting is necessary. Examples of such projects include the construction of a new plant or a significant investment in a third-party enterprise.
It is a means of locating a superior offer for the expansion of the company.
A company's bottom line is frequently affected by significant capital decisions, which are frequently tied to capital planning.
In capital budgeting, projects that improve a business are chosen. Almost everything, including the acquisition of land or the purchase of fixed assets like a new truck or machinery, can be included in the capital budgeting process.

To learn more about Capital Budget refer to:

brainly.com/question/23719404

#SPJ4

7 0

2 years ago

Dragon Inc. a NJ based construction firm is evaluating whether to replace an aging machine with a new model. For the old machine

Vilka [71]

Answer:

It should replace the old machine. In the current accounting period.

Explanation:

We need to perform a relevant cost analysis:

Keep the machine:

F0 = $0

F1 = $1500 maintenance

F2 = $3,000 maintenance

F3 = $6,000 maintenance

F4 = $12,000 maintenance

F5 =$24,000 maintenance + 250 resale value

replace the machine:

F0 = -12,000 purchase + 4,000 sale of old machine = -800

F1 = $900 maintenance

F2 = $900 maintenance

F3 = $900 maintenance

F4 = $900 maintenance

F5 =$900 maintenance + 1,500 resale value

As revenues are the same for each machine, we ignore them. We will only focus on the cost each machine generate:

We solve for the present worth of each machine with a discount rate of 12%

$\displaystyle PV_{old} = -\frac{1,500}{1.12} - \frac{3,000}{1.12^2} - \frac{6,000}{1.12^3} - \frac{12,000}{1.12^4} - \frac{23,750}{1.12^5}\\\\\displaystyle PV_{old} = -29,104.15$

$\displaystyle PV_{new} = -8,000 - \frac{900}{1.12} - \frac{900}{1.12^2} - \frac{900}{1.12^3} - \frac{900}{1.12^4} + \frac{600}{1.12^5}\\\\\displaystyle PV_{new} = -10,393.16$

As the present worth of the new machine is lower, the best decision for the company is to purchase the new machine and sale the old machine.

Delaying this will incur in higher maintenance cost (1,500 - 900)

and a lower recovery value (4,000 - 2,000)

As there is no cost saving for delaying the purchase, it should be made immediately.

8 0

3 years ago

Way Cool produces two different models of air conditioners. The company produces the mechanical systems in its components depart

Arlecino [84]

Answer:

Way Cool

1. Overhead Cost per unit for each product line:

Model 145 Model 212

Overhead cost per unit $434.97 $457.59

2. Total cost per unit for each product line:

Model 145 Model 212

Total cost per unit $634.97 $569.59

3. The profit or loss per unit for each model:

Model 145 Model 212

Market price 515.95 303.34

Loss per unit $119.02 $266.25

Explanation:

a) Data and Calculations:

Process Activity Overheads Driver Quantity Components O/H rates

Changeover $ 627,450 Number of batches 890 $705

Machining 379,155 Machine hours 8,050 $47.10

Setups 108,000 Number of setups 60 $1,800

Total $ 1,114,605

Finishing

Welding $ 220,580 Welding hours 4,100 $538

Inspecting 254,200 Number of inspections 820 $310

Rework 47,200 Rework orders 160 $295

Total $ 521,980

Support Purchasing $ 158,600 Purchase orders 488 $325

Providing space 30,900 Number of units 8,400 $3.68

Providing utilities 126,180 Number of units 8,400 $15.02

Total $ 315,680

Additional production information concerning its two product lines follows.

Model 145 Model 212

Units produced 2,800 5,600

Welding hours 800 3,300

Batches 445 445

Number of inspections 510 310

Machine hours 2,750 5,300

Setups 30 30

Rework orders 90 70

Purchase orders 325 163

Model 145 Model 212

Units produced 2,800 5,600

Welding hours $430,400 (800*$538) $1,775,400 (3,300 * $538)

Batches 313,725 (445*$705) 313,725 (445*$705)

Number of inspections 158,100 (510*$310) 96,100 (310*$310)

Machine hours 129,525 (2,750*$47.10) 249,630 (5,300*$47.10)

Setups 54,000 (30*$1,800) 54,000 (30*$1,800)

Rework orders 26,550 (90*$295) 20,650 (70*$295)

Purchase orders 105,625 (325*$325) 52,975 (163*$325)

Total overhead costs $1,217,925 $2,562,480

Units produced 2,800 5,600

Overhead cost per unit $434.97 $457.59

Direct labor and materials 200.00 112.00

Total cost per unit $634.97 $569.59

Market price 515.95 303.34

Loss per unit $119.02 $266.25

4 0

3 years ago

What is meant by saying that economics is an empirical​ science?

What is meant by saying that economics is an empirical science?