Answer:
Explanation:
The lunch plate industry in Oahu is a perfectly competitive industry.
This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.
The industry is currently in long-run equilibrium and has the price level at $5.
As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.
As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.
So the long-run equilibrium will be reestablished at a lower price than earlier.
Answer:
Denial of the death
Explanation:
A loss of a Child to a mother is not usually acceptable at first to the mother. A woman at 37 who is advance has slimmer chance of getting pregnant and the woman at 37, having a pregnancy and lossing the baby is not easy to deal with. Parental loss and bereavement is really had for a 37 year old mother who at first may not accept the death of the child but proper care will bring the mother back to full consciousness.
Answer:
b. 3.0 : 1
Explanation:
Current ratio is used to measure a company's financial ability to pay short-term obligations or those due within one year. It is measure by Current asset/Current liability
The Current ratio = $300,000 / $100,000 = 3.0 : 1
Note: The higher the quick ratio, the better the company's liquidity position.
Answer:
Sunland Company
Cost of goods manufactured Schedule
For the year ended
Work in progress 15,470
Direct Materials
Raw material 22,250
Add: Raw material purchased <u>154,500</u>
Total raw material available for use 176,750
Less: Raw material inventory <u>32,850</u>
Direct material used 143,890
Direct labor 225,290
Manufacturing overhead <u>183,120</u>
Total manufacturing costs <u>552,300</u>
Total cost of work in progress 567,770
Less: Work in process inventory <u>18,560</u>
Cost of goods manufactured <u>549,210</u>