The right answer for the question that is being asked and shown above is that: "Economic resources are limited." The statement that is true about economic resources is that <span>Economic resources are limited.
The right answer for the question that is being asked and shown above is that: "</span><span>Contractionary"</span>
Answer:
The ending balance of Allowance for Bad Debts account is $800
Explanation:
The computation of the ending balance of allowance for bad debt is shown below:
= Credit sales × uncollectible rate
= $40,000 × 2%
= $800
The estimated amount would be considered as an allowance for bad debts i.e $800, So no other amount would be come while computing the ending balance of Allowance for Bad Debts account.
However, the other information which is given in the question is not relevant. Hence, ignored it
Answer:
<em>$0.48 per client-visit; $22,856 per month</em>
Explanation:
Where,
y2 is the total cost at highest level of activity; y1 is the total cost at lowest level of activity; x2 are the number of units/labor hours etc. at highest level of activity; and x1 are the number of units/labor hours etc. at lowest level of activity
<em>Variable Cost per Unit </em>
= (28,904 -28,227) / (12,600-11,199)
= $0.48
<em>
Total Fixed Cost </em>
= y2 ? bx2
= 28,904 - $0.48 * 12600
= $22,856.00
