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andriy [413]
3 years ago
8

Pete is a woodworker and charges $125 an hour for his time manufacturing custom-made wood products. For his wife's birthday, he

designs and creates an intricate maple jewelry box that takes him 20 hours to complete. By how much and in what direction does GDP change as a result of his efforts? Group of answer choices GDP rises by $1,875. GDP falls by $1,875. GDP is not affected by Pete's production of the jewelry box. GDP rises by $125.
Business
1 answer:
andreev551 [17]3 years ago
6 0

Answer:

GDP is not affected by Pete's production of the jewelry box.

Explanation:

Pete is a woodworker and works 20 hours to prepare a jewelry box to gift his wife. If Pete prepares this jewelry box to sell and earn revenue, this will be considered in GDP but in this case Pete prepares a jewelry box to give his wife as his wife's birthday gift.

All types of gifts received or given in kind are not included in Gross Domestic Production.

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The transactions completed by Franklin Company during January, its first month of operations, are listed below. Assume that Fran
Digiron [165]

Answer:

Issued check for a payment on account CP, subsidiary posting

Issued check for rent CP, No subsidiary posting

Received cash for a sale CP, No subsidiary posting

Issued an invoice to a customer R, subsidiary posting

Purchased a computer for cash CP, subsidiary posting

Received a check from a payment on account CR, subsidiary posting

Purchased equipment on account P, subsidiary posting

Issued check for salary CP, No subsidiary posting

Issued check for purchase of supplies CP, No subsidiary posting

Issued check for advertising expense CP, No subsidiary posting

Paid for the equipment purchased on account CP, subsidiary posting

Recorded the adjustment for supplies used during the month G, Subsidiary posting

Purchased supplies on account P, subsidiary posting

7 0
3 years ago
Business-level strategy focuses primarily on a. which markets to enter and how to use the firm's money, people, and physical fac
Mrrafil [7]

Answer:

The answer is: B) the areas in which the firm may have an advantage and how much various organizational parts enhance each other.

Explanation:

Business level strategy deals with the business's position in the market relative to its competition and the forces of competition. This is why it focuses on the business's core competencies and how its customers's needs are satisfied. Stronger core competencies equal greater consumer satisfaction which equals larger profit.

3 0
3 years ago
At the high and low levels of activity during the month, direct labor hours are 90,000 and 40,000, respectively. The related cos
andre [41]

Answer:

The fixed cost at any level of activity is $48,000 while the variable cost per unit at any level of activity is $1.30

Explanation:

The total cost is a function of the fixed and variable cost. Whilst the fixed cost does not change at a certain range of activities level, the variable cost changes as the level of activities(units produced or sold).

Using the high and low levels of activities given, let the variable cost per unit be v and the fixed cost F

for the high level,

F + 90,000v = 165,000

For the low level

F + 40,000v = 100,00

Solving both equations simultaneously,

50,000v = 65,000

v = $1.30

F + 40,000($1.30) = 100,000

F = 100,000 - 52,000

F = $48,000

5 0
3 years ago
Godart Co. issued $4.5mn notes payable as a scrip dividend that matured in five years. At maturity, each shareholder of Godart's
Ghella [55]

Answer:

$6,750,000

Explanation:

Since it is stated in the question that the 3mn shares will be paid the principal and interest at maturity, and it is not stated the note is compounded, we apply the following simple calculation:

Amount to pay = $4,500,000 + [($4,500,000 × 10%) × 5 years]

                         = $4,500,000 + [$450,000 × 5 years]

                         = $4,500,000 + 2,250,000

Amount to pay = $6,750,000

Therefore, the amount should be paid to the stockholders at the end of the fifth year is $6,750,000.

4 0
3 years ago
Carol wants to invest money in a 6% CD account that compounds semiannually. Carol would like the account to have a balance of $5
mash [69]

Answer:

PV= $37,204.70

Explanation:

Giving the following information:

Interest rate= 6% compounded semiannually= 0.03

Future value= $50,000

Number of periods= 5*2= 10

To calculate the initial investment to reach the objective, we need to use the following formula:

PV= FV/(1+i)^n

PV= 50,000/(1.03^10)

PV= $37,204.70

8 0
3 years ago
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