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3 years ago

Why was buying things on credit not common in 1917

1 answer:

5 0

In 1917 and prior, there was no official credit industry, however there were illegal ‘loan sharks’ illegally loaning money charging an interest rate. Another reason is people were more ashamed to have to borrow money on credit.

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Pirate Seafood Company purchases lobsters and processes them into tails and flakes. It sells the lobster tails for $20.30 per po

bija089 [108]

Answer:

Pirate Seafood Company

1) Calculation of the Allocated Cost of Sold Items:

a) Production Units:

Lobster tails = 3,200/100 * 58 = 1,856 units

Lobster flakes = 3,200/100 * 26 = 832 units

Total units = 2,688 units, costing $12,800

b) Material costs:

Lobster tails = 1,856/2,688 * $12,800 = $8,838

Lobster flakes = 832/2,688 * $12,800 = $3,962

c) Labor costs:

Lobster tails = 1,856/2,688 * $7,400 = $5,110

Lobster flakes = 832/2,688 * $7,400 = $2,290

d) Total Production costs (Materials & Labor):

i) Lobster tails = $8,838 + $5,110 = $13,948

per unit cost = $13,948/1,856 = $7.52

ii) Lobster flakes = $3,962 + $2,290 = $$6,252

per unit cost = $6,252/832 = $7.51

e) Cost of Sales:

Lobster tails = $7.52 x 1,722 = $12,949.44

Lobster flakes = $7.51 x 752 = $5,647.52

2) Calculation of the Allocated Cost of Ending Inventory:

a) Ending Inventory units:

Lobster tails = Production unit Minus Sales unit = 1,856 - 1,722 = 134

Lobster flakes = Production unit Minus Sales unit = 832 - 752 = 80

b) Ending Inventory costs:

Lobster tails = 134 x $7.52 = $ 1,007.68

Lobster flakes = 80 x $7.51 = $600.80

Explanation:

To calculate the costs of sales and the costs of ending inventory, the first step is to calculate the units produced. The material and labour costs are then apportioned based on the units produced since no costs are allocated to the waste.

Then, the unit costs of tails and flakes are calculated. These form the bases for computing the cost of items sold and the ending inventory.

5 0

3 years ago

The danger associated with the abuse of a vehicle is compared to the danger of _____

Dmitrij [34]

The danger associated with the abuse of a vehicle is compared to the danger of a loaded gun that could cause injury or worst death if being abused. Most tragic incidents in the streets/roads are due to vehicular accidents that cause many damages, including the loss life.

3 0

4 years ago

If a company spends $20 million to install new footwear-making equipment with capacity to produce 1 million pairs of athletic fo

labwork [276]

Answer: 10% or $2,000,000

Explanation:

Seeing as no figures were produced, we will have to do this ourselves.

We will make assumptions which include the following,

Life of the equipment = 10 Years

Salvage value = 0

Those are our 2 assumptions.

In that case then,

The Annual Depreciation will be,

Depreciation = (Cost of equipment - Estimated salvage value) / Estimated useful life

= (20 - 0) / 10

= $2 million

Seeing as 2 million is,

= 2/20 * 100

= 10%

That would mean that annual depreciation costs at that facility will rise by $2 million or 10%.

If you need any clarification do react or comment.

3 0

3 years ago

Cadets at West Point spend time during the summer learning about the branches of the Army like aviation, infantry, ordnance, fin

vovikov84 [41]

Answer:

b. rotation

Explanation:

correct answer is rotation because Job rotation is a management approach where employees are regularly moved between two or more tasks or jobs to expose them to all work areas of the company.
This is a pre-planned approach aimed at testing the skills and capabilities of employees so that they can be implemented. In addition, it reduces the change of job and gives them a broader experience and helps them gain more insight.
Job rotation is a well-planned exercise to reduce boredom and learn the employee's hidden ability to do the same thing. This process is useful for management and employees

8 0

3 years ago

Brazil has a population of about 210 million, with about 150 million over the age of 15. Of these, an estimated 25 percent, o

Slav-nsk [51]

Answer:

B)Since the development of human capital is an important determinant of economic growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.

Explanation:

From the question, we are informed about Brazil having a population of about 210 million, with about 150 million over the age of 15. And Of these, an estimated 25 percent, or 37.5 million people, are functionally illiterate, and also compare how the typical literate individual reads only about two nonacademic books per year, which is less than half the number read by the typical literate U.S. or European resident.

From the view of New growth theory,the option that explains the implications of Brazil's literacy and reading rates for its growth prospects is that Since the development of human capital is an important determinant of economic growth, Brazil's literacy and reading rates suggests its potential economic growth rate is lower.

New growth theory, which was attributed to Paul Romer, explains about Economic growth in the long run in related to internal factors of with knowledge as well as human capital. In this scenario Brazil should arrive to make sure the literacy rate among people is increased as possible

7 0

3 years ago