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3 years ago

Tierney Company begins operations on April 1. Information from job cost sheets shows the following.

Business

1 answer:

a_sh-v [17]3 years ago

6 0

Answer:

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

Explanation:

Calculation for the balance in Work in Process Inventory at the end of each month

April 30 Work in Process Inventory=$6,200+$5,000

April 30 Work in Process Inventory=$11,200

May 31 Work in Process Inventory =$5,000+$ 4,700+$5,600+$7,000

May 31 Work in Process Inventory =$22,300

June 30 Work in Process Inventory= $7,000 + $4,100

June 30 Work in Process Inventory= $11,100

Therefore the balance in Work in Process Inventory at the end of each month will be :

April 30 Work in Process Inventory $11,200

May 31 Work in Process Inventory $22,300

June 30 Work in Process Inventory $11,100

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If some activity creates external benefits as well as private benefits, then economic theory suggests that the activity ought to

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Answer:

C. Subsidized

Explanation:

According to the economic theory, subsidies could be used to counter market weaknesses and externalities so that greater economic performance is achieved. Subsidy refers to the release of funds from the government to an individual, business, or entity. This results in a decrease in the value of the subsidized product. This support could be either in the form of cash or kind and is usually given to support a social or economic policy. The purpose of the subsidy is to promote the interests of society. It is part of the government 's non-planned expenditure.

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3 years ago

If the four largest firms in an industry produce 20, 10, 7, and 3 units of output, respectively, and total industry output is 10

GrogVix [38]

Answer:

40%

Explanation:

The four firm concentration ratio calculates the concentration ratio of the 4 largest firms in an industry.

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2 years ago

Which of the following is true of budgeting? Select one: a. Budgeting eradicates the need for keeping a buffer against uncertain

viva [34]

Answer:

The Correct Answer is "C"

Explanation:

Planning depends on the control cycle to structure the arranging cycle for future activity. Therefore, the budgeting plans are just to gauge which are then utilized for building the correlation with actual to decide the execution assessment. Furthermore, the planning powers does not assist in arranging the future outcomes

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3 years ago

The price of notebooks is $5, and at that price consumers demand 12 notebooks. If the price rises to $7, consumers will decrease

Vitek1552 [10]

Answer:

Explanation:

We are asked to use the midpoint formula.

Here, instead of dividing the change in values by the old value as in the normal elasticity calculation, we use the average of the two.

Mathematically:

Price elasticity of demand according to midpoint formula is :

{Q2 - Q1 / (Q2 + Q1) ÷ 2] × 100%} ÷ {[P2 - P1/ (P2 + P1) ÷ 2] × 100}

Price changed from 5 to 7. The midpoint of 5 and 7 is the average = (5+7)/2 = 6

% change in price in this case is (7-5)/6 * 100 = 100/3 = 33.33%

% change in quantity:

We first find the average = (12+4)/2 = 16/2 = 8

% change = (4-12)/8 * 100 = -100%

The elasticity of demand is thus -100/33.33 = 3

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3 years ago

In some states, real estate agents are legally required to A. hire home inspectors to perform pre-sale inspections. B. appraise

Doss [256]

D.back up the claims their clients make about home conditions

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3 years ago