Answer:
$30,800
Explanation:
Dr Work in progress 30,800
Cr Wages payable 30,800
Direct labour hours × Per direct labour hour
Job 456
580×15 = 8700
Job 777
850×26= 22100
22,100 + 8,700 = 30,800
Answer:
B. Debit insurance expense for $13,500 and credit prepaid insurance for $13,500.
Explanation:
If 6 months past from the beginning of the contract then these past 6 months must be reflected as expenses in the balances.
$13,500 reflect the expenses of the past 6 months from July 1 to December 31, then the entry Debit insurance expense for $13,500 and credit prepaid insurance for $13,500 reflect the proper balances at the end of the year.
Answer:
Haagen-Dazs vanilla bean ice cream
Explanation:
Demand is said to be most elastic if a slight change in price leads to a drastic change in quantity demanded. Normal goods are least elastic as increase in price does not lead to tremendous decrease in price.
However, luxury goods are most elastic as these goods are preferred when their prices are lower. They are not essential. As such, demand falls drastically in case of rise in price. So, Haagen-Dazs ice cream would have most price elasticity as this is a luxury good and rest of the items are normal goods.
Usually everything would be intangible, I want to say is false
Most people criticize monopolies because they charge too high a price, but what economists object to is that monopolies do not supply enough output to be allocatively efficient. To understand why a monopoly is inefficient, it is helpful to compare it with the benchmark model of perfect competition.
<h3>What are monopolies?</h3>
When there is just one seller in the market, it is called a monopoly. The monopoly case is typically viewed as the complete antithesis of perfect competition in economic research. The industrial demand curve, which slopes downward, is, by definition, the demand curve that the monopolist faces.
A monopoly is when one business and its product control a whole sector, there is little to no competition, and customers are forced to buy the particular products or service from the one business.
Examples of natural monopolies include corporations that provide utilities such as electricity and natural gas. They are monopolies because it is expensive to enter the market and because newcomers are unable to offer the same services in numbers and at costs similar to the dominant enterprise.
To learn more about monopolies visit:
brainly.com/question/5992626
#SPJ14
