What does Thomson mean by "freedom of action"?

The contestable market model of oligopoly bases pricing and output decisions on:

taurus [48]

The contestable market model of oligopoly bases pricing and output decisions on the threat of new entrants into the market. The oligopoly market form is where the market or industry is run by a small amount of sellers that can influence the price and other market factors.

8 0

2 years ago

Classify each cost as being either variable or fixed with respect to the number of units produced and sold. Also classify each c

masha68 [24]

Answer:

Explanation:

There are primarily two types of costs, i.e. variable costs and the fixed costs. The variable cost is the cost which changes when the level of production changes, whereas the fixed cost is the cost which remains constant whether the level of output changes or not.

The variable costs also include indirect products, indirect labor and manufacturing equipment, and the fixed costs include taxes and depreciation costs.

The period cost is that cost which is related to the selling and admin expenses plus it is not capitalized.

Whereas the product cost is a mix of direct labor, direct material and the manufacturing overhead

So, the categorization is shown below:

1. Hamburger buns in a Wendy's outlet. = variable and product cost

2. Advertising by a dental office. = Fixed and period cost

3. Apples processed and canned by Del Monte. = variable and product cost

4. Shipping canned apples from a Del Monte plant to customers. = variable and period cost

5. Insurance on a Bausch & Lomb factory producing contact lenses. = fixed and product cost

6. Insurance on IBM's corporate headquarters.= fixed and period cost

7 0

3 years ago

Heidi, a vsc-certified volunteer, is working at the intake station. as part of her duties, she is required to explain to the tax

umka21 [38]

Heidi should inform them that form 13614-C has to be completed before the return can be prepared, the client will then be interviewed by whomever is preparing the return and additional questions would likely be asked, and the client would need to have a quality review done on their taxes by someone other than the person preparing the return.

5 0

2 years ago

Indirect materials include ______. multiple choice question. supervisor salaries salt and pepper laptop computer keyboards facto

Kobotan [32]

Indirect materials include salt and pepper.

What are indirect materials ?

Indirect materials are goods that, while part of the overall manufacturing process, are not integrated into the final product.
For example, disposable gloves, personal protective equipment, tape, etc., may be essential to a production line, but they are not part of the actual product created on that line.
When cost savings take priority, it’s important to control spending and compliance by using a unified source-to-pay (S2P) platform for indirect materials.
Among S2P platforms, cloud-native ones offer the best functionality: they are easy to set up, deploy, learn and use, and they offer real-time, end-to-end visibility.
Unlike indirect materials, direct materials are components that are integrated into a manufactured product.
For example, chips in a mobile phone are direct materials in mobile phone production.

To know more about indirect materials, refer:

brainly.com/question/14896549

#SPJ4

5 0

1 year ago

Following are account balances (in millions of dollars) from a recent FedEx annual report, followed by several typical transacti

Paraphin [41]

Answer:

FedEx

1&2: T-accounts:

Cash

Account Titles Debit Credit

('millions) ('millions)

Balance 2,328

a. Delivery Service Revenue 17,600

c. Prepaid Expenses 3,728

c. Rent Expenses 10,136

d. Repairs Expenses 3,864

e. Accounts Receivable 24,285

f. Long-term Note Payable 350

g. Common stock 2

g. APIC 14

h. Salaries 15,276

i. Fuel Expenses 8,564

j. Accounts Payable 784

Balance 1,527

Prepaid expenses

Account Titles Debit Credit

('millions) ('millions)

Balance 329

c. Cash 3,728

Balance 4,057

Spare parts, supplies, and fuel

Account Titles Debit Credit

('millions) ('millions)

Balance 437

Accounts Receivables

Account Titles Debit Credit

('millions) ('millions)

Balance 4,581

a. Delivery Service Revenue 21,704

e. Cash 24,285

Balance 2,000

Other current assets

Account Titles Debit Credit

('millions) ('millions)

Balance 610

Property and equipment (net)

Account Titles Debit Credit

('millions) ('millions)

Balance 15,543

b. Long-term Note Payable 3,434

Balance 18,977

Other noncurrent assets

Account Titles Debit Credit

('millions) ('millions)

Balance 3,557

Accounts payable

Account Titles Debit Credit

('millions) ('millions)

Balance 1,702

j. Cash 784

Balance 918

Accrued expenses payable

Account Titles Debit Credit

('millions) ('millions)

Balance 1,894

Other current liabilities

Account Titles Debit Credit

('millions) ('millions)

Balance 1,286

Long-term notes payable

Account Titles Debit Credit

('millions) ('millions)

Balance 1,667

b. Property and Equipment 3,434

f. Cash 350

Balance 4,751

Other noncurrent liabilities

Account Titles Debit Credit

('millions) ('millions)

Balance 5,616

Common stock ($0.10 par value)

Account Titles Debit Credit

('millions) ('millions)

Balance 32

g. Cash 2

Balance 34

Additional Paid-in Capital

Account Titles Debit Credit

('millions) ('millions)

Balance 2,472

g. Cash 14

Balance 2,486

Retained earnings

Account Titles Debit Credit

('millions) ('millions)

Balance 12,716

Delivery Service Revenue

Account Titles Debit Credit

('millions) ('millions)

a. Accounts receivable 21,704

a. Cash 17,600

Balance 39,304

Rent Expense

Account Titles Debit Credit

('millions) ('millions)

c. Cash 10,136

Repairs Expense

Account Titles Debit Credit

('millions) ('millions)

d. Cash 3,864

Salaries Expense

Account Titles Debit Credit

('millions) ('millions)

h. Cash 15,276

Fuel Expense

Account Titles Debit Credit

('millions) ('millions)

i. Cash 8,564

3. Income Statement for the year ended May 31, 2015:

Delivery Service Revenue 39,304

Rent Expense 10,136

Repair Expense 3,864

Salaries Expense 15,276

Fuel Expense 8,564 37,840

Net Income 1,464

Explanation:

a) Account Balances on May 31, 2014:

Trial Balance as of May 31, 2014:

Account Titles Debit Credit

('millions) ('millions)

Cash 2,328

Prepaid expenses 329

Spare parts, supplies, and fuel 437

Receivables 4,581

Other current assets 610

Property and equipment (net) 15,543

Other noncurrent assets 3,557

Accounts payable 1,702

Accrued expenses payable 1,894

Other current liabilities 1,286

Long-term notes payable 1,667

Other noncurrent liabilities 5,616

Common stock ($0.10 par value) 32

Additional Paid-in Capital 2,472

Retained earnings 12,716

Totals $27,385 $27,385

Other transactions for year ending May 31, 2015:

a. Delivery Service Revenue $21,704 Account Receivable $21,704

Delivery Service Revenue $17,600 Cash $17,600

b. Equipment $3,434 Long-term Note Payable $3,434

c. Rent Expense $10,136; Prepaid (Rent) Expense $3,720 Cash $13,864

d. Repair Expenses $3,864 Cash $3,864

e. Cash $24,285 Accounts Receivable $24,285

f. Long-term Note Payable $350 Cash $350

g. Cash $16 Common Stock $2 APIC $14

h. Salaries Expense $15,276 Cash $15,276

i. Fuelling Expense $8,564 Cash $8,564

j. Accounts Payable $784 Cash $784

k. N/A

Trial Balance as of May 31, 2015:

Account Titles Debit Credit

('millions) ('millions)

Cash 1,527

Prepaid expenses 4,057

Spare parts, supplies, and fuel 437

Receivables 2,000

Other current assets 610

Property and equipment (net) 18,977

Other noncurrent assets 3,557

Accounts payable 918

Accrued expenses payable 1,894

Other current liabilities 1,286

Long-term notes payable 4,751

Other noncurrent liabilities 5,616

Common stock ($0.10 par value) 34

Additional Paid-in Capital 2,486

Retained earnings 12,716

Delivery Service Revenue 39,304

Rent Expense 10,136

Repair Expense 3,864

Salaries Expense 15,276

Fuel Expense 8,564

Totals $69,005 $69,005

3 0

2 years ago