B. in a free market economy, prices and wages result from natural forces
since government will not take any involvement in the economy, prices and wages will be determined by the power of supply and demand
hope this helps
Answer:
a. 0.34 or 34 %
b. $11.22
c. $134,680
Explanation:
Unit Contribution Margin = Sales per unit - Variable Costs per unit
= $33.00 - $21.78
= $11.22
Contribution margin ratio = Contribution ÷ Sales
= $11.22 ÷ $33.00
= 0.34
Operating Income = Contribution - Fixed Cost
= ($11.22 x 24,000 units) - $134,600
= $134,680
Answer:
d. increases; less
Explanation:
Based on the information provided it can be said that his opportunity cost of attending college after receiving the offer on the soap opera increases, making him less likely to attend college than before he received the offer. This is because by having another option available he has to choose between both scenario's that he enjoys and give up the other one, thus increasing his opportunity cost but at the same time since he has another option it makes it less likely that he would choose school.
Answer:
The Contracting Officer's Representative (COR) should look for the contract terms that specify which party bears the costs associated with contract delivery delays.
In order to protect the government's best interest concerning the cost for the housing of the 200 soldiers for three weeks, the question to ask is if the contract provides that the contractor will bear the costs for housing the soldiers. Who occasioned the delay?
Explanation:
There are usually some costs with construction contracts not meeting deadlines. Some of them are that the asset may not be available at the required time for use, occasioning the need to incur some costs for alternatives. How would the gap be filled? Which party bears the costs of the delays? Are there provisions in the contract specifying the party that assumes liability for some unforeseen delays?
Answer:
The Journal entries are as follows:
(i) On October 1,
Dividend declared A/c(3,200 × 0.25) Dr. $800
To Dividend payable $800
(To record the declaration of cash dividend)
(ii) On October 15,
No entry
(No entry on date of record because no transaction actually happened)
(iii) On October 31,
Dividends payable A/c Dr. $800
To cash $800
(To record the payment of cash dividends)
