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3 years ago

Which type of economy best represents individual preferences and a lack of government interference?

Business

1 answer:

goldenfox [79]3 years ago

5 0

Answer:

Market

Explanation:

A market economy also is known as a free economy

In a market economy, individuals and businesses have the freedom to choose what they will buy or sell. They also determine the quantities, time, and the prices of the goods and services produced.

In the market economy, the government and the market are separated. It means that the government does not interfere with the operations of the market. Self-interests drive Individuals' and firms' actions. The economy will have a wide range of goods and services which offer customer options when buying.

Market economies are a hypothesis. No country in the world operates a pure market economy. The US economy, which gives buyers and sellers the freedom to choose, has some government interfere in the form of regulation.

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Calculating and using Dual Charging Rates

11Alexandr11 [23.1K]

Answer:

1. Calculate a variable rate for the Maintenance Department. Round your answer to the nearest cent. $ per maintenance hour Calculate the allocated fixed cost for each using department based on its budgeted peak month usage in maintenance hours.

variable rate = $1.30 per maintenance hour

Department Peak Number Allocated

of hours Fixed cost

Assembly (210/2,100) x $65,400 $6,540

Fabrication (1,050/2,100) x $65,400 $32,700

Packaging (840/2,100) x $65,400 $26,160

Total 2,100/2,100 $65,400

2. Use the two rates to assign the costs of the Maintenance Department to the user departments based on actual usage. Calculate the total amount charged for maintenance for the year.

Department Fixed costs Variable cost Total

Assembly $6,540 3,500 x $1.30 = $4,550 $11,090

Fabricating $32,700 7,000 x $1.30 = $9,100 $41,800

Packaging $26,160 10,000 x $1.30 = $13,000 $39,160

Total $65,400 $26,650 $92,050

3. What if the Assembly Department used 3,550 maintenance hours in the year? How much would have been charged out to the three departments?

Department Fixed costs Variable cost Total

Assembly $6,540 3,550 x $1.30 = $4,615 $11,155

Fabricating $32,700 7,000 x $1.30 = $9,100 $41,800

Packaging $26,160 10,000 x $1.30 = $13,000 $39,160

Total $65,400 $26,715 $92,115

6 0

3 years ago

You have $25.36 in your account. You make deposits of $36 and $78 and make a withdrawal of $61.24. How much is in the account?

vagabundo [1.1K]

Answer:

78.12

Explanation:

8 0

3 years ago

Katlyn Williams owns a company that makes specialized components for the aerospace industry. Her most important customer is a co

omeli [17]

Answer:

Need to accommodate the growth of a key customer.

Explanation:

In the given scenarios Katlyn is motivated to keep her company growing because her most important customer is a company that is growing at a rate of 33% per year.

To satisfy the customer needs for specialised components of aerospace equipment, Katlyn's company must also grow in output or they will not be able to satisfy the customer's need.

This demonstrates need to accommodate the growth of a key customer.

7 0

3 years ago

Read 2 more answers

The following Information applies to the questions displayed below.) Bargain Rental Car offers rental cars in an off-airport loc

butalik [34]

Answer:

a. The variable cost per rental return is $4.04.

b. The monthly fixed cost Incurred to wash cars is $1,376.

Explanation:

Note: See the attached excel file for the calculations of Rental Returns (x), Car Wash Costs (y), xy, and x^2.

Since Σ = Total of or summation of, we can therefore obtain the following from the attached excel file:

Σx = 34,854

Σy = 157,317

Σxy = 462,541,971

Σx^2 = 102,623,516

N = Number of months = 12

a. calculation of variable cost per rental return

To calculate the variable cost per rental return, the following formula is used:

Variable cost per rental return = (NΣxy − ΣxΣy) /((NΣx²) − (Σx)²) ……………… (1)

Substituting the relevant values into equation (1), we have:

Variable cost per rental return = ((12 * 462,541,971) - (34,854 * 157,317)) / (((12 * 102,623,516) - 34,854^2)

Variable cost per rental return = 4.03917240317595

Rounding to 2 decimal places as required, we have:

Variable cost per rental return = $4.04

Therefore, the variable cost per rental return is $4.04.

b. Calculation of monthly fixed cost Incurred to wash cars

To calculate the monthly fixed cost Incurred to wash cars, the following formula is used:

Fixed Cost per month = {Σy - (Variable cost per rental return * Σx) / N ....... (2)

Substituting the relevant values into equation (2), we have:

Fixed Cost per month = (157,317 - (4.04 * 34,854)) / 12

Fixed Cost per month = $1,375.57

Rounding to the nearest whole dollar amount as required, we have:

Fixed Cost per month = $1,376

Therefore, the monthly fixed cost Incurred to wash cars is $1,376.

Download xlsx

8 0

3 years ago

Fedor, Inc. has prepared the following direct materials purchases budget: Month Budgeted DM Purchases June $ 69 comma 000 July

cricket20 [7]

Answer:

C) $77,090

Explanation:

June 69000 (40% in July, 50% in AUgust)

July 80000 (40% in August, 50% in Sepetember)

August 77500 (40% in September, 50% in October)

September 77900 (40% in October)

October 71800 (10% in October)

Total budgeted cash payments in October = 71,800 x 10% + 77,900 x 40% + 77,500 x 50% = 77,090

6 0

3 years ago