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4 years ago

Which situation creates scarcity in an economy?

Business

1 answer:

scZoUnD [109]4 years ago

4 0

Answer:

C. Citizens have more wants than they can fulfill with their available resources.

Explanation:

Correct for APEX

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Fashion house uses the retail method to estimate ending inventory in his monthly financial statements the following information

IgorC [24]

If we used the retail method to estimate the ending inventory first we get the given of the problem that can be used in solving.
Given
Sales - 200,000
Goods available for sale - 261,000 (cost) & 450,000 (retail)

First, we need to get the cost of retail ratio. the formula is
Cost to Retail ratio= Cost/ Retail
261,000
CRR= ------------- = 0.58
450,000

Next is to get the ending inventory by following this steps
Cost Retail
Cost of Goods Available for Sale $261,000 $450,000
- Sales $200,000
------------------
Ending Inventory $250,000
x Cost to Retail Ratio .58
------------------
Ending Inventory $145,000

So, the estimated ending inventory for the month of July is $145,000.

4 0

4 years ago

Mae wants to make a difference in her community. She enjoys making decisions and finding solutions to problems. Her teachers tel

Pie

I myself would think that she should be a corrections officer if she enjoys making decisions and finding solutions to problems, is an excellent public speaker, and has a talent for persuading people to take up causes that she supports.

7 0

3 years ago

Read 2 more answers

Select one of the four design thinking tools presented in the course (listed below) that you are interested in applying to a cha

weqwewe [10]

Answer:

jt75ygr88yhg bhhg77ygfhuhh7

Explanation:

7 0

3 years ago

Spin Cycle Architecture uses three activity pools to apply overhead to its projects. Each activity has a cost driver used to all

hammer [34]

Answer:

a. predetermined overhead rate for each activity

initial concept formation = $3,310 per Project Change

design = $3 per Square feet

construction oversight = $1,130 per Month

b. Classification

unit-level activities :

design

batch level activities :

initial concept formation

Product level activities :

design

Facility level activities :

initial concept formation

construction oversight

Explanation:

This question requires application of Activity Based Costing (ABC) method of allocating overheads.

For each overhead a rate is determined as follows :

initial concept formation

Predetermined overhead rate = Overhead Cost / Number of Project Changes

= $52,960/ 16

= $3,310 per Project Change

design

Predetermined overhead rate = Overhead Cost / Square feet

= $420,000/ 140,000

= $3 per Square feet

construction oversight

Predetermined overhead rate = Overhead Cost / Number of Months

= $118,650/ 105

= $1,130 per Month

Classification

The way the activity is to be absorbed in costing determine its classification

5 0

3 years ago

Smith Office Equipment Company's budgeted manufacturing overhead is $ 4 comma 500 comma 000. Overhead is allocated on the basis

mr_godi [17]

Answer:

$75

Explanation:

We know,

Manufacturing overhead rate = Budgeted manufacturing overhead ÷ Budgeted direct labor hours

Given,

Budgeted manufacturing overhead = $4,500,000

Budgeted direct labor hours = 60,000

Putting the values into the manufacturing rate formula, we can get,

Manufacturing overhead rate = $4,500,000 ÷ 60,000 hours

Manufacturing overhead rate = $75 per labor hour.

When the standard amount of factory cost is allocated to the production of every unit, it is called the overhead manufacturing rate.

4 0

3 years ago