According to the Coase theorem, private parties can negotiate an efficient solution in the presence of externalities if the<u> transaction costs</u> are relatively low.
When Jeremy, Francis, and Andrew are part of Mu Epsilon Nu, a college fraternity known for its very loud, rambunctious weekend parties and the parties annoy many of the residents in nearby apartment complexes due to the loud music and blaring neon lights, it illustrates an example of an <u>external cost.</u>
An external cost simply means the cost that is incurred by an individual or firm as a result of the economic transactions of another entity.
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increasing
i am not super sure</span>
Answer:
$2.90 per equivalent unit of conversion
Explanation:
equivalent units of conversion (under FIFO) = [units in beginning inventory x ( 1 - previous conversion rate)] + units started and completed + (units in ending inventory x conversion rate) = [80,000 x (1 - 20%)] + 250,000 + (30,000 x 10%) = 64,000 + 250,000 + 3,000 = 317,000 units
cost per equivalent unit of conversion = total conversion costs / total equivalent units of conversion = $919,300 / 317,000 units = $2.90 per equivalent unit
Answer:
Credit to refund liability of $280,000.
Explanation:
The year end adjusting entry would be
Sales Return $280,000 ($21 million × 8% - $1,400,000)
Refund Liability $280,000
(Being the anticipated sales return is recorded)
Here the sales return is debited as it increased the sales return and the refund liability is credited as it increased the liabilities
The same is to be considered
I’m not 100% sure but if I had to answer I would pick (A)