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3 years ago

An economic system that allows indivduals to pursue their own interests without undue

Business

1 answer:

Kay [80]3 years ago

8 0

Answer:

a. private enterprise

Explanation:

Economics systems can be categorized as;

Command or planned economic systems
Mixed economies
Market or free enterprise economies

The market or free enterprise economy is also the private enterprise economy. This economic system has the private sector as the primary producers of goods and services. The government does not interfere with economic activities.

In the private enterprise economy, private firms and individuals have the freedom to start and operate a business of their preferences. The government does not regulate the production, distribution, or prices of products. The private sector engages in business activities that will generate maximum profits for them.

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At the time of Elise’s 20 year high school reunion she was earning $50,000 and the CPI was 80. Now that it is time for her to at

babunello [35]

Answer:

Her real income has decrease by $7,333.33

Explanation:

<em>Real income is the amount of goods and services that a give amount of quantity money can purchase. It is also known as the purchasing power of money. </em>

To determine if there has been a change in her real income, we will compare her real income 20 years ago to her real income 5 years later. This will be done as follows;

Step 1

Determine her real income 5 years after her last reunion

Real income in current year = (CPI in base year/CPI in current year ) × Nominal income

= (80/150)× 80,000

= $42,666.67

Step 2

Determine change in real income

Her real income has decrease by $7,333.33. This is difference between her real income 5 years ago and now. That is $50,000 - $42,666.67.

Tis implies she cannot purchase as much as she could 5 years ago because of inflation.

3 0

3 years ago

Yocum Company purchased equipment on January 1 at a list price of $120,000 and received a $2,400 cash discount. Yocum paid $6,00

egoroff_w [7]

Answer:

The correct answer is $129,360.

Explanation:

According to the scenario, the given data are as follows:

List price of equipment = $120,000

Cash discount = $2,400

sales tax = $6,000

Installation charges = $1,760

concrete slab = $4,000

So, we can calculate the total cost by using following formula:

Total cost = $120,000 - $2,400 + $6,000 +$1,760 + $4,000

= $129,360

8 0

3 years ago

Impression management is behavior by which people control how they come across to _________. Some of this behavior is deliberate

Neko [114]

Answer: other people; dressing up;

unconscious; changes in posture

Explanation:

Impression management is behavior by which people control how they come across to other people. Some of this behavior is deliberate, such as dressing up for a job interview, but much of it is unconscious, such as changes in posture when one’s boss approaches.

8 0

3 years ago

Prepare journal entries to record each of the following transactions. The company records purchases using the gross method and a

zloy xaker [14]

Answer and Explanation:

The journal entries are shown below;

On Sept 15

Merchandise inventory $77,500

To Accounts payable $77,500

(Being purchase of inventory is recorded)

On Sep 29

Accounts payable $77,500

To Cash $75,175

To Merchandise inventory (3% of $77,500 ) $2,325

(Being payment to suppliers after discount is recorded)

3 0

3 years ago

Feldpausch Corporation has provided the following data from its activity-based costing system:

juin [17]

Answer:

Product margin per unit= $7.2

Explanation:

Giving the following information:

Activity Cost Pool Total Cost Total Activity

Assembly $ 1,137,360 84,000 machine-hours

Processing orders $ 28,479 1,100 orders

Inspection $ 97,155 1,270 inspection-hours

First, we need to calculate the estimated overhead rate for each activity cost pool:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Assembly= 1,137,360/84,000= $13.54 per machine hour

Processing= 28,479/1,100= $25.89 per order

Inspection= 97,155/1,270= $76.5 per inspection hour

We will calculate the total cost of production and then the unitary cost to determine the product margin:

Total cost= direct material + direct labor + allocated overhead

The company makes 470 units of product W26B a year, requiring a total of 660 machine-hours, 50 orders, and 40 inspection-hours per year. The product's direct materials cost is $40.30 per unit and its direct labor cost is $42.22 per unit. The product sells for $118.00 per unit.

Total cost= 40.30*470 + 42.22*470 + (660*13.54 + 50*25.89 + 40*76.5)= 52,075.3

Unitary cost= 52,075.3/470= 110.80

Product margin= selling price - unitary cost= 118 - 110.8= $7.2

7 0

3 years ago