Answer:
United States and Europe
Determination of United States having a trade deficit, balanced trade, or a trade surplus:
a. Trade surplus (investment surplus)
b. No effect on trade surplus or deficit
c. Trade surplus
d. Investment surplus
e. Balanced trade
f. Balanced trade
Explanation:
The United States experiences a trade surplus when its exports to Europe is higher than the imports from Europe, whether it is for goods, services, or investments.
On the other hand, the United States will experience a trade deficit when its imports from Europe are more than its export to Europe.
The US and Europe will have some advantages and disadvantages to having a trade deficit or surplus. When the US experiences a surplus, the exchange rate between the two continents increases in favor of the US. However, there will a reduction of the competitiveness of the US exports as higher prices will be incurred by Europe for US exports.
Answer:
(a) a schedule of cost of goods manufactured
Purchases $ 92,000
Materials inventory, March 1 $ 6,000
Materials inventory, March 31 ($ 8,000)
Material Consumed $ 90,000
Direct labor $ 25,000
Factory overhead $ 37,000
Work in process, March 1 $ 22,000
Work in process, March 31 ($ 23,500)
COGM $ 150,500
(b) an income statement for the month
Sales $ 257,000
COGS
COGM $ 150,500
FG opening $ 21,000
FG closing ($ 30,000)
Total ($ 141,500)
Gross profit $ 115,500
Sales and administrative expenses ($ 79,000)
Net profit $ 36,500
Answer:
c. 0.0819
Explanation:
The mean = 0.85
standard error of the proportion is: sp = sqrt(pq/n)
= sqrt ((.85)(0.15) / 51) = 0.05
P(0.9115 < X < 0.946) = P( (0.9115 - 0.85) / 0.05 < z < (0.946 - 0.85) / 0.05 )
= P(1.23 < z < 1.92)
= P(z < 1.92) - P(z < 1.23) = 0.0819
