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vivado [14]
3 years ago
5

The table below shows the expenditure components for the United States in 2015. Expenditures in the United States Expenditure Co

mponent Amount of Expenditure (billions of dollara) Durable goods $1,367.1 Nondurable goods 2,666.0 Services 8,299.1 Nonresidential fixed investment 2,336.2 Residential fixed investment 645.4 Change in private inventories 111.9 Exports 2,264.9 Imports 2,789.0 Federal government 1,224.0 State and local government 1,994.9sing the values in the table, calculate the following aggregate expenditures and nominal GDP.Instructions: Round your answers to one decimal place.a. What is the value of consumption expenditures in 2015?$ billionb. What is the value of government expenditures in 2015?$ billionc. What is the value of gross investment in 2015?$ billiond. What is the value of nominal GDP in 2015?$ billion
Business
1 answer:
AlladinOne [14]3 years ago
8 0

Answer:

a. $12,332.2 billion

b. $3218.9  billion

c. $3093.5 billion

d.  $18120.5 billion

Explanation:

a. The value of Consumption Expenditure = Sum of consumption expenditure on all goods and services

= $1,367.1 billion + $2,666 billion + $8,299.1 billion

= $12,332.2 billion

b. The value of Government Expenditure = Sum of expenditure by federal Government and State & Local government

= $1224.0 billion + $1994.9 billion

= $3218.9  billion

c. Gross Investment = Sum of investment and inventories

=Non-residential fixed investment +  Residential fixed investment + Change in private inventories

= $2336.2 billion + $645.4 billion + $111.9 billion

= $3093.5 billion

d. Nominal GDP = C + I + G + (X-M)

= $12332.2 billion + $3093.5 billion + $3218.9 billion + ($2264.9 billion - $2789 billion)

= $18120.5 billion

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Exercise 8-7 At December 31, 2018, Concord Corporation Company had a credit balance of $18,800 in Allowance for Doubtful Account
Marina86 [1]

Answer:

Dr Allowance $13,500

Cr Accounts Recivable $13,500

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

Dr Cash $3,500

Cr Accounts Rec $3,500

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

Explanation:

Preparation of the journal entries to record the 2019 transactions of Concord Corporation Company

Dr Allowance $13,500

Cr Accounts Recivable $13,500

(To record amount written off)

Dr Accounts Recivable $3,500

Cr Allow ance $3,500

(To reverse write-off)

Dr Cash $3,500

Cr Accounts Rec $3,500

(To record collection of writeoff)

Dr Bad Debts Expense $21,900

Cr Allowance $21,900

[$30,700-($18,800-$13,500+$3,500)]

8 0
3 years ago
The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
blagie [28]

Answer:

The correct option is b. $8,100

Explanation:

Since the question was asked about the allocation of maintenance department expense to assembly and the maintenance department expense is based on the square footage.

So, the following equation should be used which is shown below:

= Maintenance department expense × assembly square foot space ÷ total sum of square foot space

where,

Maintenance department expense is $18,000

Assembly square footage is 2,700

And, the total sum of square foot space equals to

=  Fabrication square foot space + assembly square foot space

= 3,300 + 2,700

= 6,000

Now, put these values on the above equation.

So, the value would be equals to

= $18,000 × 2,700 ÷ 6,000

= $18,000 × 0.45

= $8,100

The other cost is irrelevant. Thus, it is ignored while computation.

Hence, the amount of Maintenance department expense to be allocated to Assembly is $8,100

Therefore, the correct option is b. $8,100

7 0
3 years ago
. A firm begins the year with a Book Value of $10 million. During the year it generates $5 million in net profits. It paid $1 mi
Keith_Richards [23]

Answer:

b) $12 million

Explanation:

The new Book Value of the firm at the bigining of next year is $12 million.

In the calulation of Net Pfofit, Interst on loan has already been deducted, so deducting it from the total calculation will be wrong.

hence, only dividend paid will be removed from the addition of the Book Value anf the Net profit.

Closing balance = Opening Book Value + Net Profit - Dividend Paid

Note - The Net Profit is already ne of interest on loan.

Closing balance = $10 + $5 - $3

Closing balance is $12

3 0
3 years ago
Glascro Company manufactures skis. The management accountant wants to calculate the fixed and variable costs associated with the
Ber [7]

Answer:

$1,000

Explanation:

We know that

Total cost = Fixed cost + Variable cost

From the data given, we can calculate the variable cost using the high-low technique.

Variable cost per unit

=\frac{Total cost at highest level-Total cost at lowest level }{Highest level - Lowest level} \\\\=\frac{16,000-10,000}{1,000-600 } \\

=$15

Lease cost = FC + $15(Machine hours)

Lease cost -$15(Machine hours) = FC

Case,

i) 800 machine hours,

FC = Lease cost - $15(Machine hours)

     = $16,000 -$15(1000) = $1,000

6 0
3 years ago
Harrison Enterprises currently produces 8,000 units of part B13. Current unit costs for part B13 are as follows: Direct material
Yakvenalex [24]

Answer:

It is cheaper to make the part in house.

Explanation:

Giving the following information:

Harrison Enterprises currently produces 8,000 units of part B13.

Current unit costs for part B13 are as follows:

Direct materials $12

Direct labor 9

Factory rent 7

Administrative costs 10

General factory overhead (allocated) 7

Total $45

If Harrison decides to buy part B13, 50% of the administrative costs would be avoided.

To calculate whether it is better to make the par in-house or buy, we need to determine which costs are unavoidable.

Unavoidable costs:

Factory rent= 7

Administrative costs= 5

General factory overhead= 7

Total= 17

Now, we can calculate the unitary cost of making the product in-house:

Unitary cost= direct material + direct labor + avoidable administrative costs

Unitary cost= 7 + 5 + 5= $17

It is cheaper to make the part in house.

3 0
3 years ago
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