Answer:
B. A type of shirt that sold for $10 in 2000 costs $15 in 2020
Explanation:
Inflation is a measure of the rate of rising prices of goods and services in an economy.
Answer:
Year 2= $3,333.33
Explanation:
Giving the following information:
A company purchased a computer system for $24,000. The estimated useful life is 6 years, and the estimated residual value is $9,000.
To calculate the depreciation expense for the second year, we need to use the following formula for year 1 and 2:
Annual depreciation= 2*[(book value)/estimated life (years)]
Year 1= 2*[(24,000 - 9,000)/6]= 5,000
Year 2= 2*[(15,000 - 5,000)/6]= 3,333.33
Answer:
All of the answers are correct.
Explanation:
At the beginning of the accounting period a pre-determined overhead is computed by dividing the estimated overhead production by the estimated basis of operations. The default overhead rate is then applied to manufacturing, so that the standard cost for a product may be calculated
The purpose of using pretermined overhead rates are
Delays in product costing can be avoided
Variation in cost assignment due to seasonality can be prevented
Variation in cost assignment due to short-term variations in volume can be prevented
The Use of predetermined overhead rates serves all the above purposes
Hence, all answers are correct.
Answer:
B) Normal conditions are rarely encountered."
Explanation:
The most likely response from his neighbor was probably, "good luck with all that, i remember reading somewhere that Normal conditions are rarely encountered." This would be the most likely response because his neighbor is described as being jealous and skeptical. Therefore his response will most likely have a tone of hope that something happens so that the installation can't happen, such as bad weather.
Answer and Explanation:
The red and the convertible cars would be considered similar i.e. they are perfect substitutes also the car and the convertible car would be the substitutes but it is not a perfect as the convertible car would be the subset of the car group plus the expenditure made on the convertible car would be high so here the elasticity is more
