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pickupchik [31]
2 years ago
5

Consider the following information about production in quarter 1 of 2019. Firm T produces 600 tires at a cost of $28 each, and s

ells 580 tires to Firm B at a cost of $39 each.Firm B produces 290 bicycles at a total cost of $330 each, and sells 280 bicycles to consumers for $400 each. In this simple economy, what is the value of inventory investment
Business
1 answer:
bekas [8.4K]2 years ago
8 0

Answer:

$3,860

Explanation:

<u>Value of stock at the end of Firm T:</u>

Firm T has stock of 20 tires at the end of the year

The cost price is $28 per tire

Value = Closing stock * Cost price of each tIres

Value = 20 * $28

Value = $560

<u />

<u>Value of stock at the end of Firm B:</u>

Firm B has stock of 10 bicycles at the end of the year

The cost price is $330 each

Value = Closing stock * Cost price of each bicycle

Value = 10 * $330

Value = $3,300

Value of the inventory investment = Value of stock at the end of Firm T + Value of stock at the end of Firm B

Value of the inventory investment = $560 + $3,300

Value of the inventory investment = $3,860

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Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.

<h3>What is the law of demand and supply?</h3>

The law of supply and demand is still in effect:

Wages: when the amount supplied increases, but the quantity required does not, the price falls.

When the quantity required increases without the quantity supplied increasing, the price rises.

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7 0
1 year ago
Crich Corporation uses direct labor-hours in its predetermined overhead rate. At the beginning of the year, the estimated direct
Rama09 [41]

Answer:

$1,524 underapplied

Explanation:

Predetermined overhead rate = Estimated Manufacturing Overhead ÷ Estimated Activity.

                                                  = $560,324 ÷ 22,060

                                                  = $25.40

Applied Overheads = Predetermined overhead rate × Actual Activity

                                 = $25.40 × 22,000

                                = $558,800

<em>Where,</em>

Actual Overheads are  $560,324 (given)

<em>Conditions :</em>

If Actual Overheads > Applied Overheads, we say overheads are under-applied and if Actual Overheads < Applied Overheads, we say that overheads are over-applied.

<em>Therefore ,</em>

In our case, Actual Overheads : $560,324 > Applied Overheads : $558,800. Overheads have been under-applied by $1,524 ($560,324 - $558,800).

8 0
3 years ago
An economy that maximizes its scarce resources and can deliver the right goods in the right quantity to the right people at the
AlekseyPX

Answer: Efficiency.

Explanation:

An economy is said to be efficient if the economy is able to make the best use of the available resources found in that economy, in meeting the needs of consumers within the economy and even exporting to consumers found in other economies.

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3 years ago
Suppose Megan is considering emigrating from her home country.
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a. emigrate

b. more

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Immigration attractiveness is a factor that draws immigrants to a foreign country.  A country becomes more attractive when the economic prospects are brighter than at the home-country.  The degree of immigration law enforcement also helps to either attract or deter potential migrants.  In recent years, wars and misgovernment have propelled millions to move boundaries.  At the same time, countries are imposing migration restrictions by imposing and implementing strict laws.

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2 years ago
Tony is most nervous about doing a good job delivering the information that he has, so his concerns relate to the
Leviafan [203]

Answer:

A. Message element of the communication model

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