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3 years ago

List the three basic economic systems. How does each answer the basic economic questions?

Business

1 answer:

Mama L [17]3 years ago

7 0

Answer:

command economy, market economy and traditional economy

Explanation:

in the command economy the government answer the question of what to produce, how to produce and to whom. the government determines investment and income.

in the market economy: the economy decision of investment and income, production and distribution is determine by the price according to the law of demand and supply

traditional economy: is an economic system that is signaled by the custom, belief and traditions of the people which influences goods and services the economy produces, how it is produce and who uses the product.

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During April, the first production department of a process manufacturing system completed its work on 300,000 units of a product

Alex73 [517]

Answer:

total cost per EUP during April:

materials = $2.58
conversion costs = $2.16
total cost per EUP during April = $4.74

total cost of ending WIP = $222,384

total cost of units transferred out = $1,444,346

Explanation:

beginning WIP 60,000 units:

60% complete for materials, so 40% was completed during April (EUP for April = 24,000)

40% complete for conversion costs, so 60% was completed during April EUP for April = 36,000)

total costs of beginning WIP:

materials $118,472

conversion costs $48,594

240,000 units were started and completed

total costs incurred during April:

materials $850,368 (EUP = 240,000)

conversion costs $649,296 (EUP = 240,000)

ending WIP 82,000 units:

80% complete for materials (EUP = 65,600)

30% complete for conversion costs (EUP = 24,600)

total cost per EUP during April:

materials = $850,368 / (24,000 + 240,000 + 65,600) = $2.58

conversion costs = $649,296 / (36,000 + 240,000 + 24,600) = $2.16

total cost per EUP during April = $4.74

total cost of ending WIP = (65,600 x $2.58) + (24,600 x $2.16) = $222,384

total cost of units transferred out = (240,000 x $4.74) + (24,000 x $2.58) + (36,000 x $2.16) + $118,472 + $48,594 = $1,444,346

3 0

3 years ago

Question Workspace Exhibit 3-5 Supply for Tucker's Cola Data Quantity supplied per week (millions of gallons) Price per gallon 6

Lena [83]

Answer:

20 million gallons

Explanation

The market quantity supplied can be found by adding the quanirty supplied of the 5 suppliers.

When price is $1.5, tucker supplies 3 million gallons

3 + 10+2 + 5 + 0 = 20

I hope my answer helps you

5 0

4 years ago

What are some causes of gentrification

ser-zykov [4K]

Answer:

Gentrification can cause low rents, immigration, and increasing population.

Explanation:

7 0

4 years ago

The short run is:________

Scorpion4ik [409]

Answer:

The correct answer is option a.

Explanation:

The short-run is an imaginary short period in which all the inputs cannot be varied. There is at least one input that cannot be varied. So in the short run, there are some fixed inputs and some variable inputs.

The cost incurred on fixed inputs are fixed costs and that incurred on variable inputs are variable costs. So there are fixed costs and variable costs in the short run.

In the long run, all inputs are variable so all costs are variable as well.

6 0

3 years ago

Zhang Industries budgets production of 220 units in June and 230 units in July. Each unit requires 1.5 hours of direct labor. Th

Vaselesa [24]

Answer:

Budgeted direct labor cost for July = $4,278

Explanation:

Given:

Production in July = 230 units

Hours of direct labor = 1.5 hours per unit

Direct Labor rate = $12.40 per hour

Indirect labor rate = $19.40 per hour.

Find:

Budgeted direct labor cost for July

Computation:

Budgeted direct labor cost for July = (Production in July)( Hours of direct labor)( Direct Labor rate)

Budgeted direct labor cost for July = (230)(1.5)(12.4)

Budgeted direct labor cost for July = $4,278

8 0

3 years ago