Answer:
C) there is at least one fixed factor of production.
<u>Multiple-choice options</u>
A) there is increasing scarcity of factors of production.
B) the price of extra units of a factor is increasing.
C) there is at least one fixed factor of production.
D) capital is a variable input.
Explanation:
he law of diminishing marginal returns cites that adding extra input while maintaining the others fixed will cause the overall output to decrease . Adding one more production input while keeping the rest intact decreases the marginal returns and increases the average production cost.
The law only applies where there at least one fixed input. When the firm uses more of the variable input, the firm's marginal product will eventually decrease.
Answer:
Net Income $66100
Explanation:
<u>Racine Furnishings Company </u>
<u>Multi Step Income Statement </u>
<u>For the Year Ended March 31, 2019</u>
Sales 6,126,850
Cost of Merchandise Sold 3,965,850
Gross Profit 2161000
Less Operating Expenses
Depreciation $747,950
Supplies Expense ( 87000- 20650) 66350
Salaries Expense 7,700
Selling Expenses 717,650
Administrative Expenses 545,700
Operating Income 75,650
Other Expenses
Interest Expense 9,550
Net Income $66100
From the sales cost of merchandise sold is subtracted to get the gross profit. The operating expenses are subtracted from the gross profit to get the operating income. Other expenses such as interest expense is subtracted to get the net income.
The International Organization for Standardization (ISO) is an international standard-setting body composed of representatives from various national standards organizations.
Founded on 23 February 1947, the organization promotes worldwide proprietary, industrial and commercial standards. It is headquartered in Geneva, Switzerland, and as of 2015 works in 163 countries.
It was one of the first organizations granted general consultative status with the United Nations Economic and Social Council.
Answer:
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Based on the various transactions, the addition to retained earnings was <u>A. $5,075.88</u>
<h3>What was the after tax net profit ?</h3>
This can be found as:
= (Revenues - Interest expense - Depreciation - Cost of goods sold - Admin expenses) x ( 1 - tax)
= (42,629 - 1,230 - 2,609 - 23,704 - 7,040) x ( 1 - 22%)
= $6,275.88
<h3>Addition to retained earnings </h3>
= After tax net profit - Dividends paid
= 6,275.88 - 1,200
= $5,075.88
In conclusion, option A is correct.
Find out more on retained earnings at brainly.com/question/25998979.
