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4 years ago

Economic efficiency in a free market occurs when

1 answer:

6 0

Answer: Economic efficiency in a free market occurs when C) the sum of consumer surplus and producer surplus is maximized.

Explanation: Economic efficiency happens when resources are distributed in a way that allows for the least amount of waste so that there is little inefficiency. When all items are maximized, there is little waste happening and therefor the economic has achieved economic efficiency.

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Mountaineer Excavation operates in a low-lying area that is subject to heavy rains and flooding. Because of this, Mountaineer pu

Serjik [45]

Explanation:

1. The journal entry is as follows:

On March 1

Prepaid insurance A/c Dr $36,000

To Cash A/c $36,000

(Being the prepaid insurance is recorded for cash)

For recording the advance purchase of insurance, we debited the prepaid insurance and credited the cash account. Both the accounts are recorded at $36,000 so that the proper posting could be done.

4 0

3 years ago

Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March 1 6,000 Mater

Rufina [12.5K]

,Answer:

Zoe Corporation

Statement of Cost of Good Manufactured For the Month Ended March 31

Work in Process Inventory 22,000

Direct Materials:

Materials inventory, March 1 6,000

Purchases 92,000

Less Materials inventory, March 31 ( 8,000)

Cost of Materials used in Production 90,000

Direct Labor 25,000

Factory Overhead 37,000

152,000

Total Manufacturing Cost 174,000

Less Work in Process Inventory, March 31 (23,500)

Cost of Goods Manufactured 150,500

7 0

4 years ago

All of the following are the goals of a self-organizing team, EXCEPT 1. Increase knowledge on a continuous basis. 2. Strive to d

Wewaii [24]

Answer:

The correct answer is 3

Explanation:

Self-organizing team is the team which takes the responsibility to manage or handle their own tasks or work and do not rely on the manager to guide them. The team opt or select on how to best achieve the work or task instead of being directed by the managers who are outside the team.

The goals of the self-organizing team are upgrade or increase the knowledge as well as the skills on a continuous or regular basis, create as well manage the tasks independently, deliver tangible results within the time frame and understand the project vision.

3 0

3 years ago

The February contribution format income statement of XYZ Corporation appears below: Sales $ 169,500 Variable expenses 96,000 Con

Liono4ka [1.6K]

Answer:

degree of operating leverage= 4.742

Explanation:

Giving the following information:

Contribution margin 73,500

Net operating income $ 15,500

To calculate the degree of operational leverage, we need to use the following formula:

degree of operating leverage= Total contribution margin / operating income

degree of operating leverage= 73,500 / 15,500

degree of operating leverage= 4.742

4 0

3 years ago

Cincinnati t-shirts prints custom t-shirts. The cost to produce one shirt is: direct materials, $10; direct labor, $1.20; and ma

egoroff_w [7]

Answer:

Effect on income= $140 decrease

Explanation:

Giving the following formula:

Production costs:

Direct material= 10

Direct labor= 1.2

Variable overhead= $1.5

Selling price= $12

Number of units= 200

Because it is a special offer and there is unused capacity, we will not take into account the fixed costs.

Effect on income= Units sold*unitary contribution margin

Effect on income= 200*(12 - 10 - 1.2 - 1.5)

Effect on income= $140 decrease

5 0

3 years ago