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olganol [36]
3 years ago
15

KylaKyla is buying clothesclothes. She can choose between blue jeansblue jeans​, khaki pantskhaki pants​, and black jeansblack j

eans. She​ doesn't like black jeansblack jeans​, and after some​ thought, she chooses blue jeansblue jeans. What is the opportunity cost of this​ choice?
A. The black jeansblack jeans.
B. The khaki pantskhaki pants.
C. The blue jeansblue jeans​, the khaki pantskhaki pants​, and the black jeansblack jeans.
D. The khaki pantskhaki pants and the black jeansblack jeans.
Business
1 answer:
cupoosta [38]3 years ago
7 0

Answer:

B. The khaki pants

Explanation:

Opportunity cost is the benefits forfeited as a result of choosing one item or activity over the other.  It the value of the next best alternative of choice made.

Opportunity costs arise because people have to make choices every day. Choosing an item over others implies sacrificing the benefits of the others. The value or cost of the sacrificed item represents the opportunity cost.

Khaki pants are the opportunity cost. Kyla is comfortable with either blue jeans or khaki pants. He does not like black jeans. His alternatives are khaki pants or Blue jeans. Choosing blue jeans implies forfeiting khaki pants. The khaki pants are the best alternative that was missed.

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Mogul Company ships merchandise to Ski Outfit in a consignment arrangement. The arrangement specifies that Ski Outfit will attem
Yuliya22 [10]

Answer:

$22,500

Explanation:

Given that,

During the year, Cost of shipping inventory to the Ski Outfit = $92,500

By the end of the year, amount of merchandise sold to customers = $70,000

Mogul will repeat inventory at the year end:

= Cost of inventory sent to consignee - Cost of inventory sold by consignee

= $92,500 - $70,000

= $22,500

Therefore, the amount of inventory will Mogul report at year end is $22,500.

6 0
3 years ago
A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is e
vredina [299]

Answer:

Results are below.

Explanation:

Giving the following formula:

Purchase price= $1,800,000

Salvage value= $60,000

Useful life= 8 years or 600,000 units

<u>To calculate the annual depreciation using the units-of-production method, we need to use the following formula:</u>

Annual depreciation= [(original cost - salvage value)/useful life of production in units]*units produced

Annual depreciation= [(1,800,000 - 60,000) / 600,000]*70,000

Annual depreciation= $203,000

<u>To calculate the annual depreciation using the double-declining balance, we need to use the following formula:</u>

<u></u>

Annual depreciation= 2*[(book value)/estimated life (years)]

Annual depreciation= 2*[(1,800,000 - 60,000) / 8]

Annual depreciation= $435,000

<u>Finally, the annual depreciation using the straight-line method:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation=  (1,800,000 - 60,000) / 8

Annual depreciation= $217,500

6 0
3 years ago
Import tariffs generally ________ the output of domestic producers of the affected products and also _________ the output of dom
Lady_Fox [76]

Answer:

increase , decrease

Explanation:

Import tariffs are amount levied on the imports of goods. tariffs makes imports more expensive and discourages import.

if an import tariff is in place for a particular good, the import of that good would reduce and this would increase domestic producers to produce more of the good to meet the demand of the good. so output of domestic producers would increase.

Because output is consumed domestically, exports would reduce.

6 0
3 years ago
Closing the Accounts of a Merchandiser From the following list, identify the accounts that should be closed to Income Summary at
mixer [17]

Answer:

Advertising Expense , Cost of Merchandise Sold , Merchandise Inventory, Sales,Supplies Expense are closed to income summary account. Revenues and expenses are closed to Income Summary.

Explanation:

Closing Entries

a. Accounts Payable:  No it is not closed to income summary account.

b. Advertising Expense:  Yes it is  closed to income summary account.

c. Cost of Merchandise Sold: Yes it is  closed to income summary account.

d. Dividends : No these are closed To Retained Earnings Accounts.

e. Merchandise Inventory : Yes it is  closed to income summary account

f. Sales Yes it is  closed to income summary account

g. Supplies:  No prepaid supplies are an asset account and it is included balance sheet.

h. Supplies Expense: Yes it is  closed to income summary account

i. Wages Payable: Not closed in the income summary account.

These are liabilities and included in the balance sheet.

8 0
3 years ago
Which of the following is the deliberate process through which someone becomes aware of personal​ skills, interests,​ knowledge,
ANTONII [103]

Answer:

Career planning

Explanation:

Career planning is self-assessment and preparation undertaken by an individual who has a decent career path. Career planning phase is a continuous process of discovering oneself, establishing career aspirations, evaluating skills and finding the best career opportunities.

5 0
3 years ago
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