Answer:
C) $195,000.
Explanation:
Calculation for the amount that Lawson should report as inventories in its balance sheet
Raw materials 27,000
Add Work-in-process 59,000
Add Finished goods 109,000
Inventories $195,000
Therefore the amount that Lawson should report as inventories in its balance sheet will be 195,000
Answer:
A market economy answers the three economic questions by allocating resources and goods through markets, where prices are generated.
There are two extremes of how these questions get answered. In command economies, decisions about both allocation of resources and allocation of production and consumption are decided by the government. In market economies, there is private ownership of resources—established though property rights—and the factors of production and consumption are all coordinated through markets. In a market system, resources are allocated to their most productive use through prices that are determined in markets. These prices act as a signal for buyers and sellers. Most economies are mixed economies that lie between these two extremes.
In either system, a rational agent would allocate resources and production using marginal analysis. In command economies, this is more difficult to do because without markets, prices fail at being an effective signal.
Explanation:
I hope this helps!!
Answer:
Explicit costs are the costs which requires the money to pay.
On the other hand, implicit costs refers to the benefit that is foregone by choosing some other work or doing some other activity.
Therefore,
Explicit costs are as follows:
1. Wages pays to his hired hand
2. Buys feed for his cows.
3. Gas expense that is used in truck
Implicit costs are as follows:
1. Foregone income of $27,000 from working at a dairy plant as a technician.
2. Time taken for extracting milk from all the cows.
Answer:
The blend should be made with 720 ml of Product A and 780 ml of Product B
Explanation:
We create excel solve to get the cheapest blend with the requirement givens by the customer:
A B C D E F
1 ml type $ alcohol $mix alcohol mix
2 720 Product A 7 0.95 5.04 0.456
3 780 Product B 3 0.78 2.34 0.4056
4 Total 7.38 0.8616
5 Sales Price 12.50
6 Gross Profit 5.12
Constrains:
A2 = integer
A2 > 1500 x 48/100
A3 > 500
F4 > 0.85
The liability faced by the credit agency for its incorrect reporting of your credit history is that your actual damages, plus an additional amount not to exceed $1,000, plus attorney’s fees.
<h3><u>
What is liability?</u></h3>
- A liability is a debt that a person or business has, typically in the form of money. Through the transmission of economic benefits like money, products, or services, liabilities are eventually satisfied.
- Liabilities are items that are listed on the balance sheet's right side and consist of debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated expenses.
- Assets and liabilities can be compared. Assets are items you own or owe money to; liabilities are things you owe money to or have borrowed.
- A liability, in general, is an obligation between two parties that hasn't been fulfilled or paid for.
- A financial liability is an obligation in the realm of accounting, but it is more specifically characterized by prior business transactions, events, sales, exchanges of assets, or services.
Under the Fair Credit Reporting Act, your damages are not $5,000 only. It is also not actual damages plus or $3,000 plus the attorney's fees.
Know more about liability with the help of the given link:
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