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anzhelika [568]
3 years ago
14

According to their comparative advantage: a. Wilson should decorate cupcakes and Kendall should decorate cookies. b. Kendall sho

uld decorate cupcakes and Wilson should decorate cookies. c. To avoid boredom, Wilson should decorate ½ of the cupcakes and cookies and Kendall should decorate the other half. d. Wilson should decorate both because he is better at both.
Business
1 answer:
blsea [12.9K]3 years ago
7 0

Answer:

B.

Explanation:

This economic law was recognized by a political economist, David Ricardo in his book, ‘Principles of Political Economy and Taxation’ in 1817.

Comparative advantage refers to the ability of a country to produce particular goods or services at lower opportunity costs as compared to the others in the field.

According to this law, if Kendall is good at decorating cupcakes and Wilson is the best at decorating cookies, then Kendall should decorate cupcakes and Wilson should decorate cookies becuase they can do it with lower costs.

The following are the assumptions of the Ricardian doctrine of comparative advantage:

-There are only two countries, assume A and B.

-Both of them produce the same two commodities, X and Y.

-Labour is the only factor of production.

-The supply of labour is unchanged.

-All labour units are homogeneous.

-Tastes are similar in both countries.

-The labour cost determines the price of the two commodities

-The production of commodities is done under the law of constant costs or returns.

-The two countries trade on the barter system.

-Technological knowledge is unchanged.

-Factors of production are perfectly mobile within each country. However, they are immobile between the two countries.

-Free trade is undertaken between the two countries. Trade barriers and restrictions in the movement of commodities are absent.

-Transport costs are not incurred in carrying trade between the two countries.

-Factors of production are fully employed in both the countries.

-The exchange ratio for the two commodities is the same.

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Exercise 21-15 Direct materials and direct labor variances LO P2 The following information describes production activities of Me
Molodets [167]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Actual direct materials used 16,000 lbs. at $4.05 per lb.

Actual units produced 30,000

Budgeted standards for each unit produced are 0.50 pounds of direct material at $4.00 per pound.

To calculate the direct material price and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (4 - 4.05)*16,000

Direct material price variance= $800 unfavorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Standard quantity= 30,000*0.5= 15,000

Direct material quantity variance= (15,000 - 16,000)*4

Direct material quantity variance= $4,000 unfavorable

6 0
3 years ago
Read 2 more answers
A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 13,
Anit [1.1K]

Answer:

Incremental income for Sale as scrap  is $36,400 and Rework is $46,200

Explanation:

                                                              Sale as scrap         Rework

Sales of reworked units (13000*8.2)                                  $106,000

Sales of scrap units (13000*2.8)            $36,400

Cost to rework units (13000*4.6)                                         ($59,800)

Opportunity cost of not making new units

Incremental income (loss)                      $36,400              $46,200

6 0
2 years ago
For the following transaction, determine whether cash flows from operating activities will increase, decrease, or remain the sam
lutik1710 [3]

In case of accrued payroll for the month but did not pay the cash flow from activities will remain the same.

Considering, that the charge has now not been made, it has not led to any outflow of cash. It is going to be treated as a cash outflow in the month in which the payment is definitely made.

There are three cash flow sorts that organizations should track and examine to decide the liquidity and solvency of the enterprise: coins float from working activities, coins drift from investing in sports and coins flow from financing sports. All 3 are blanketed on a business enterprise's cash flow statement.

Cash from operating activities suggests the amount of money a company brings in from its ongoing, normal commercial enterprise activities, together with production and selling goods or imparting a carrier to customers.

Learn more about cash flow here brainly.com/question/735261

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4 0
1 year ago
Ts
pentagon [3]

Answer:

answer is d because in military social studies is most and of you are good in social studies and graduated from high school it becomes easy to get admission in military academies.

3 0
3 years ago
You have contracted to buy a house for​ $250,000, paying​ $30,000 down and taking out a fully amortizing loan for the​ balance,
NeTakaya

Answer:

$ 1252

Explanation:

Since we have been given the annual rate, but we have been asked for monthly payments, the first thing we should do is calculate the monthly rate.

R = (1+ APY) ^ 1/12 -1  

Where:

R: monthly rate

APY: annual rate

R= (1+0.057)^1/12-1

R= 0.0046

Then, having monthly rate data, we can calculate the monthly payments. For that, we will use the formula for the present value of an ordinary annuity.

PMT= (P*R) / (1-(1+R)^(-n))  

Where:

PMT: Monthly payments

R: monthly rate

P: Present value

n: Period  

PMT= (220,000 * 0.0046) / (1-(1.0046)^-360))

PMT= 1,252

6 0
3 years ago
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