Answer:
The firm’s (choose one): loss per acre will be $ 192
Explanation:
Instructions: Enter only whole numbers for your answer. Enter a positive number after identifying profit or loss.
Wage to workers = 160 hrs x $6.20
= $992
Equiptment costs = $150 per month
Normal profit required = $50
Total cost = $992+ $150 +$ 50
= $1192
Total revenue per month = $1000
Profit = Total revenue per month - Total cost
= $1192-$1000
= -$192
Answer:
management has not explained its business purpose
Explanation:
Since in the question it is mentioned that the firm is engaged in the new financial transaction that contains the material impact on the earnings so this represents that it could be come under the pre existed accounting standards.
Also everyone should be aware of the business purpose plus it is not established for changing off the financial statements
So it would be suspicious because the purpose of the business could not be explained
Answer:
Option (d) is correct.
Explanation:
Schedule tariff rate quota refers to the another form of barrier on the imports of a nation. Under this kind of import restriction, the government specify the benchmark or quantity goods to be imported or we can say that sets the import limit and after that limit reached, then certain rate of tariff is implemented on the quantity of goods imported.
This import restriction is used by various developed and developing nations for controlling their imports.
Answer:
The branch of the US government that has the power to "lay and collect taxes" is:
the Congress, according to Article I, Section 8.
Explanation:
The Congress is made up of the people's elected representatives. As such, people's consent and approval are always sought and given through the Congress for the laying and collection of taxes. The IRS is a creation of Congress. Congress empowers it to collect taxes. Even when the Executive branch proposes tax changes, they are subject to the approval of the Congress.
Answer:
Reduce the labor employed.
Explanation:
Generally the profit maximizing level of activity is where the marginal revenue product of labor is equal to or greater than the wage rate paid. This means that the 5th worker is actually not generating any positive revenue for the farmer as its contribution to revenue is,
Total contribution = Marginal product * price = 3 * 2 = $6
Where as wage paid is $10 thus it gives a contribution of 6-10 = -$4.
Thus the farmer is advised to reduce labor employed.
Hope this helps.