Answer:
$82
Explanation:
Month Quantity rate Total
January purchase 7 letters 6 42
February 5 letters 8 40
March 6 letters 9 45
Total 18 127
Number of letters sold = 6
Closing inventory = 18 - 6 = 12
Using LIFO , the last set of item purchased are the first to be sold , therefore the closing inventory will be
(5*8)+(7*6)= $82
Answer:
Total Productivity:
* For last year: 1.70
* For this year: 1.48
Explanation:
We have the total productivity is equal to Sales/ Total resources spent.
So, the calculation for productivity as followed:
<u>* For last year:</u>
+ Sales = 200,010
+ Total resources spent = Labor + Raw materials + Energy + Capital + other = 30,010 + 35,100 + 5,100 + 45,500 + 2,100 = 117,810
=> Productivity = 200,010 / 117,810 = 1.70
<u>* For this year:</u>
+ Sales = 201,050
+ Total resources spent = Labor + Raw materials + Energy + Capital + other = 40,010 + 41,500 + 6,010 + 45,500 + 3,010 = 136,030
=> Productivity = 201,050/136,030 = 1.48.
C. May 2 Equipment—Store 3,500.00
Just took the test
Answer:
Positive statement
Positive statement
normative statement
normative statement
Explanation:
Positive Economics is objective and statements are usually based on facts and economic theory. They can be tested.
For example, the statement - the lack of effective regulation contributed to a risk-seeking culture in the financial services industry- can be test empirically
Normative economics is based value judgements, opinions and perspectives. For example, the statement - Central banks should have imposed tighter regulations on banks to prevent the financial crisis- is based on opinion. Everyone would have an opinion on what the Central bank should have done
