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Anni [7]
3 years ago
15

The factor-price equalization theory and transportation costs Which of the following statements about the factor-price equalizat

ion theory and the effects of transportation costs are correct? Check all that apply. Differences in transport costs do not affect the comparative advantage of trading nations. Free trade, in the absence of transportation costs or other barriers to trade, tends to equalize product prices and factor prices. Transportation costs prevent product prices from equalizing. Workers in trading nations always earn the same wages, and capital earns the same interest income.
Business
1 answer:
abruzzese [7]3 years ago
6 0

Answer:

B and C

Explanation:

The correct statements about the factor-price equalization and the effects of transportation costs are:

  1. Free trade, in the absence of transportation costs or other barriers to trade, tends to equalize product prices and factor prices.
  2. Transportation costs prevent product prices from equalizing.
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Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $3,200 of dir
maw [93]

Answer:

Total job Costs added to Work In Process in October=$ 21, 700

Explanation:

Jaycee Corporation

Direct Materials requisitioned $3,200

Direct labor $4,700  

Over head = 150% 0f $ 4700= $ 7050

Total Costs Added During September = $ 3,200+ $ 4,700+ $ 7050= $ 14950

Costs Added During October

Direct Materials $3,700

Direct labor $7,200  

Overhead = 150 % 0f $ 7,200 = $ 10,800

Total job Costs added to Work In Process in October= $ 3,700+ $ 7,200 + $10,800= $ 21, 700

7 0
3 years ago
On November 1, 2018, Cullumber Farm entered into a contract to buy a $162000 harvester from John Deere. The contract required Cu
Vikki [24]

Answer:

The journal entry to record the contract on November 1, 2018 includes: credit to Accounts Receivable for $162000

Explanation:

Following the Accrual accounting - an accounting method that revenue or expenses are recorded when a transaction occurs rather than when payment is received or made. On November 1, 2018, Cullumber Farm had to pay $162,000 in advance to John Deere. John Deere recorded the cash receiving by the entry:

Debit Cash $162,000

Credit Accounts Receivable $162,000

The company did not record revenue because they did not sell the harvester. This was only the advance payment.

3 0
3 years ago
Which of these is a pro of being a wage earner? A. You usually do not get to choose which projects you work on. B. You have a de
gregori [183]

Answer:

The correct answer is letter "C": You are usually not in charge.

Explanation:

Wage-earners are the people who live mainly thanks to the salary they receive. Under this category fall low-range workers whose base income is their source of income. Hardly ever low-range employees are assigned major tasks since they are subordinates, so the success or failure of a project does not rely directly on them since they are not the ones in charge.

3 0
3 years ago
Read 2 more answers
Scenario 14-4 The information below applies to a competitive firm that sells its output for $40 per unit.
Dominik [7]

The average revenue has the same value at Q = 150 and Q = 151.

Further explanation:

Average fixed cost: The fixed cost per unit is termed as the average fixed cost. The fixed cost does not change with the level of output. However, the average fixed cost changes along with the level of output.

Total revenue: The total revenue refers to the amount of revenue generated during a particular period of time. The total revenue is the total of the revenues.

Total cost: The total cost is the sum total of the variable and fixed cost during the year. The total cost represents all the direct, and indirect costs occurred on a product.

Average total cost: The total cost per unit is also termed as the average total cost. The average total cost represents the cost, which is computed by dividing the total cost with the number of units manufactured during the year.

Calculate the total revenue when the quantity of output is 150 units:

It is given that the output is sold at $40 per unit.

\text{Total revenue at 150 units}=\text{Number of units produced}\times\text{Sales price per unit}\\ =150\times\$40\\=\$6,000

Therefore, the total revenue when the quantity of output is 150 units is <u>$6,000.</u>

Calculate the average revenue when the quantity of output is 150 units:

\text{Average revenue}=\dfrac{\text{Total Revenue}}{\text{Number of units}}\\=\dfrac{\$6,000}{150\text{units}}\\=\$40

Therefore, the average revenue when the quantity of output is 150 units is <u>$40.</u>

Calculate the total revenue when the quantity of output is 151 units:

It is given that the output is sold at $40 per unit.

\text{Total revenue at 151 units}=\text{Number of units produced}\times\text{Sales price per unit}\\ =151\times\$40\\=\$6,040

Therefore, the total revenue when the quantity of output is 151 units is <u>$6,040.</u>

Calculate the average revenue when the quantity of output is 151 units:

\text{Average revenue}=\dfrac{\text{Total Revenue}}{\text{Number of units}}\\=\dfrac{\$6,040}{151\text{units}}\\=\$40

Therefore, the average revenue when the quantity of output is 151 units is <u>$40.</u>

Justification for correct and incorrect answer:

a.

Average fixed cost: The average fixed cost changes along with the change in output level. The average fixed cost is different from that of fixed cost. Hence, this choice is incorrect.

b.

Average revenue: The average revenue is $40 at Q = 150 units and Q = 151 units. The average revenue is equal at both the levels of the output. Hence, this choice is correct.

c.

Total cost: The total cost is not the same at both the levels of the output. The total cost is different for Q = 150 units, and Q = 151 units as the average total cost is also different for both output levels. The total cost increases when the output level changes. Hence, this option is incorrect.

Learn more

1. Breakeven point and contribution margin brainly.com/question/12989446

2. Direct materials efficiency variance brainly.com/question/12987884

3. Cost of materials

brainly.com/question/4783765

Answer details  

Grade: Senior School

Subject: Cost Accounting

Chapter: Cost Behavior

Keywords: Scenario 14-4, the information below applies to, competitive firm, scenario 14-4 the information below applies to competitive firm, when the firm produces, which of the following magnitudes, average fixed cost, average revenue, average cost per unit, average total cost, at Q = 150 and Q = 151, represent the quantity of output, refer to scenario 14-4, when the firm produces and sells 150 units of output.

6 0
3 years ago
Read 2 more answers
On July 1 of the current calendar year, Olive Company paid $8,200 cash for management services to be performed over a two-year p
Andrew [12]

Based on the amount paid by Olive Company for the two year period, the adjusting entry on December 31 would be a debit to an expense and a credit to prepaid expense for $2,050.

<h3>What would be the adjusting entry?</h3>

Based on the accrual method, only costs for the year can be recorded as expenses.

If any costs are for other periods, those costs would be credited to prepaid expenses.

The expense for this year for management services would be:

= Number of months from July to December x Amount paid / number of months in contract

= 6 months x 8,200 / 24 months

= $2,050

In conclusion, expenses will be debited $2,050.

Find out more on prepaid expenses at brainly.com/question/9270086.

4 0
2 years ago
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