Answer: (a) $325,000
(b) $1,150,000
Explanation:
(a) For Music world retail:
Cost of goods sold = Goods available for sale - Ending merchandise inventory
= (Beginning merchandise inventory + Cost of purchases) - Ending merchandise inventory
= ($200,000 + $300,000) - $175,000
= $500,000 - $175,000
= $325,000
(b) For Wave-Board Manufacturing:
Cost of goods sold = Goods available for sale - Ending finished goods inventory
= (Beginning finished goods inventory + Cost of goods manufactured) - Ending finished goods inventory
= ($500,000 + $875,000) - $225,000
= $1,150,000
Answer:
Difference among the economic wants and the non- economic wants is shown below:
Explanation:
Wants is the term which is described as the desires for the things that the person or an individual may or may not actually require or needed.
a. Economic wants
1. Economic wants are those wants which generally known as the desires and are usually satisfied or fulfilled after taking or consuming he service, goods or in other cases leisure.
2. Economic wants is spending money in order to satisfy the want or the desire.
b. Non - economic wants
1. Non- economic wants are those wants which are generally the human needs, that is required or needed to be satisfied without involve the monetary cost or the value.
2. It might involve the water, air.
3. These are those wants that could be fulfilled without spending the money.
Answer: 2.90 years.
Explanation:
Payback period is the amount of time that it will take a project to pay back or recuperate the initial investment in the project.
This project is making $8,600 a year and had an initial investment of $25,000.
The Payback period is;
= Investment / Annual Cashflow
= 25,000 / 8,600
= 2.90 years.
The correct answer is true
Answer:
C. emphasize basic economic relationships by purposefully simplifying the complexities of the real world.
Explanation:
