The Long-Run Aggregate Supply curve represents the full employment capacity of the economy and depends on the amount of resources available for production and the available technology.
<h3>What is Long-Run Aggregate Supply Curve?</h3>
The Long-Run Aggregate Supply (LRAS) Curve depicts the relationship between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible. Along the LRAS, prices can move, but production cannot since it represents the output of full employment.
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Answer:
a. $11,989
Explanation:
tax rate // for income above
0.1 // $ 0
0.12 // $ 13,600
0.22 // $ 51,800
0.24 // $ 82,500
Mary's income of $79,280 is on the third bracket as is lower than the minimum for the fourth bracket.
first bracket:
$13,600 x 10% = $ 1,360
second bracket:
($51,800 - $13,600) x 12% = $ 4,584
third bracket
($79,280 - $51,800) x 22% = $ 6,045.6
total tax income: 11,989.6
Answer:
$870
Explanation:
When a company makes sales on account, debit accounts receivable and credit sales. Based on assessment, some or all of the receivables may be uncollectible.
To account for this, debit bad debit expense and credit allowance for doubtful debt. Should the debt become uncollectible (i.e go bad), debit allowance for doubtful debt and credit accounts receivable.
Allowance for uncollectible accounts at 5%
= 5% * $302,000
= $1,510
Since the Allowance for Uncollectible Accounts was $640 (credit) before any adjustments, the bad debt expense for the year
= $1,510 - $640
= $870
Answer: The answer is as follows:
Explanation:
Given that,
Raw material = $7.60/unit
Direct labor = $10.60/unit
Manufacturing overhead = $8.60/unit
(1) Unit cost under variable costing = Raw material + Direct labor + variable Manufacturing overhead
= 7.6 + 10.6 + 8.6
= 26.8
(2) Unit cost under absorption costing = Raw material + Direct labor + variable Manufacturing overhead + fixed Manufacturing overhead
= 7.6 + 10.6 + 8.6 + 8.6
= 35.4
There are 16 bits in two bytes
