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4 years ago

Question #2

Business

1 answer:

AysviL [449]4 years ago

7 0

Answer:

the answer is B.

Explanation:

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Select all of the following descriptions that are true about market economies. Select all that apply:

Citrus2011 [14]

Answer:

The correct answers are B and D

Explanation:

Market economies is the kind of market which is grounded on the private enterprise, which means or states that the production (businesses or the resources) are operated as well as owned by the group or the private individuals.

And the supplying the goods and the services are grounded on the demand. The income of the person is grounded on the ownership of the resources of the person (especially the labor).

Therefore, the statement which is true regarding the market economies are B and D.

3 0

4 years ago

The cost of goods sold during the year was $380,000. Inventory increased by $12,000 during the year and accounts payable decreas

murzikaleks [220]

Answer:

$411,000

Explanation:

Cost of goods sold was $380,000

Inventory was increased by $12,000

Accounts Payable was decreased by $19,000

The relationship via direct method of cash flow can be established as:

COGS + Increase in Inventory + Decrease in A/P

$380,000 + $12,000 + $19,000 = $411,000

5 0

3 years ago

In 2004, Jamal lost his job as a shipbuilder. His shipyard never reopened, and his very specialized skills as a shipbuilder were

MrMuchimi

The best way to describe Jamal's unemployment would be <u>Structural</u>

7 0

3 years ago

Magno Cereal Corporation uses a standard cost system for its "crunchy pickle" cereal. The materials standard for each batch of c

Mandarinka [93]

Answer:

Material Quantity Variance = $18,000 Favorable

Explanation:

Material Quantity Variance = (Standard Quantity - Actual Quantity) $\times$ Standard Rate

Provided information

Here, Standard Rate = $3.00 per pound of raw material

Standard Quantity for Actual Output of 60,000 batches = 60,000 $\times$ 1.4 pound = 84,000

Actual Quantity = 78,000

Material Quantity Variance = (84,000 - 78,000) $\times$ $3.00

= 6,000 $\times$ $3.00 = $18,000

Since standard quantity is more than actual it is a favorable variance.

6 0

4 years ago

The actual cost of direct materials is $13.00 per pound. The standard cost per pound is $8.75. During the current period, 9,9

dlinn [17]

Answer:

A. $55,125 favorable

Explanation:

The direct materials quantity variance is given by the difference between actual quantity used in production and the standard quantity valued at the standard cost.

Actual quantity used in production = 9,900 pounds

Standard quantity for actual units produced = 16,200 pounds

Standard cost per pound =$8.75.

The direct materials quantity variance is:

$DMQV = (16,200 - 9,900)*\$8.75\\DMQV=\$55,125$

Since the company used a lesser quantity than the expected (standard) quantity, the balance is favorable.

Therefore, the answer is A. $55,125 favorable.

4 0

4 years ago