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3 years ago

In a planned economy, prices of commodities are controlled by _________.

Business

1 answer:

GalinKa [24]3 years ago

4 0

The correct answer is C. The government

Explanation:

The key feature of a planned economy is the strong influence and control of government in the economy. Indeed, in a planned economy it is the government the entity that decides on trade and production, this includes the prices of goods and the types of products that should be manufactured. Moreover, this does not occur in market economies because in these customers, produces and the law of supply/demand determine factors of the economy. According to this, in a planned economy prices are controlled by government.

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Radford Inc. manufactures a sugar product by a continuous process, involving three production departments-Refining, Sifting, and

ivann1987 [24]

Answer:

Dr Work-in process - Refining Department $381,000

Cr Materials $381,000

Dr Work-in process - Refining Department $149,000

Cr Wages Payable $149,000

Dr Work-in process - Refining Department $96,200

Cr Factories Overhead - Refining Department $96,200

Dr Work-in process - Sifting Department

$627,600

Cr Work-in process - Refining Department $627,600

Explanation:

Radford Inc. Journal Entries to record the flow of costs into the refining department

Dr Work-in process - Refining Department $381,000

Cr Materials $381,000

(To record usage of direct material)

Dr Work-in process - Refining Department $149,000

Cr Wages Payable $149,000

(To record usage of direct labor)

Dr Work-in process - Refining Department $96,200

Cr Factories Overhead - Refining Department $96,200

(To record applied manufacturing overhead)

b. Entry to record the transfer of production costs to the second department

Dr Work-in process - Sifting Department

$627,600

Cr Work-in process - Refining Department $627,600

(To transfer costs to the second department)

[$30,000 + ($381,000+$149,000+$96,200)- $28,600])

$30,000+$626,200-$28,600

=$30,000+$597,600

=$627,600

8 0

3 years ago

A student remarks:

inessss [21]

Answer and explanation:

<em>The position of the student is correct</em>. Financial intermediaries are entities participating in a financial transaction that function as a bridge. A financial intermediary helps lenders contact creditors and buyers meet with sellers. In fact, the parties on either side of the transaction do not need to meet at all, thanks to the financial intermediary. Eventually, depositors earn a profit by the interest of the money stored in the financial intermediary.

The situation explained above is not the same when talking about insurances. Insureds pay a monthly fee for having a policy that provides them with coverage according to the insurance. If the insurance was never used, the money paid by the insured is not given back.

7 0

3 years ago

Plyler Cabinets declared a dividend of $1.20 a share on May 15 to holders of record on Monday, June 1. The dividend is payable o

Vesnalui [34]

Answer:

The correct answer to the following question is that Sara will not receive any dividend income .

Explanation:

Sara has bought the Plyler cabinets share ( 500 ) on Friday, May 29 but the plyler cabinets had declared dividend of $1.20 on a share on May 15, and the holders will get dividend on June 1 , which means she has bought the shares after the ex dividend date ( after 15th May ) so she will not receive any dividend income .

4 0

3 years ago

A calendar year reporting company preparing its annual financial statements should use the phrase "at december 31, 2016" in the

ivolga24 [154]

Financial statements include Income statement, Statement of Owner’s Equity, Balance sheet and Cash flow statement. Statement of Owner’s Equity and Balance sheet are prepared at a particular date at the end of the financial year or period.

Hence, A calendar year reporting company preparing its annual financial statements should use the phrase "at December 31, 2016" in the heading of Statement of Owner’s Equity and Balance sheet.

4 0

3 years ago

Emma, Inc. reacquired 166,326 of its shares at $22 per share as treasury stock. Last year, for the first time, Emma sold 37,992

Lesechka [4]

Answer:

The correct answer is $152,949.

Explanation:

According to the scenario, the given data are as follows:

Reacquired shares = 166,326

Per share price = $22

So, we can calculate the retained earning decline by using following formula:

Retained earning decline = Cost of Treasury shares - Sales price - Paid in Capital from stock

Where, Cost of treasury shares = 48,987 × $22 = $1,077,714

Now Sales Price = 48,987 × $15 = $734,805

and Paid in Capital from stock = 37,992 × ( $27 - $22) = $189,960

By putting the value in the formula, we get:

Retained earning decline = $1,077,714 - $734,805 - $189,960

= $152,949

6 0

3 years ago