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3 years ago

At the beginning of lecture, Dr.McCarty says that the US economy is built to serve:________.

Business

1 answer:

alisha [4.7K]3 years ago

6 0

Answer:

At the beginning of lecture, Dr.McCarty says that the US economy is built to serve:________.

b. People who own things

Explanation:

The U.S. economy, which is a mixed economy, exhibits both capitalism and socialism characteristics. While it allows economic freedom to people who own things (capitalists), occasionally, the government intervenes to achieve public good by imposing some restrictions and licensing. The government is also involved in some economic development, especially as it relates to education, roads, and healthcare. As a mixed economy, the government uses monetary and fiscal policies to rein in some of the excesses of capitalism.

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Blue Corporation’s April 30 inventory was destroyed by fire. January 1 inventory was $155,000, and purchases for January through

Mama L [17]

Answer:

Ending inventory will be $108925

Explanation:

We have to find the estimated ending inventory

It is given by

Estimated ending inventory = Cost of Goods available for sale - Cost of Goods Sold

Cost of Goods available for sale = $155,000+$467,300 = $622,300

Cost of Goods Sold = Sales - Gross profit = $654500-\frac{654500\times 25}{100}=$513375$

So ending inventory = $622300 - $513375 = $108925

So ending inventory will be $108925

5 0

3 years ago

The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 80,000 Total revenues a

Kruka [31]

Answer:

Gross Margin = $ 115,000 Contribution Margin= $ 144,500

Explanation:

Nile Castings

Income Statement

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Fixed Manufacturing Costs $ 41,000

Gross Margin $ 115,000

Less Marketing & Administrative Costs

Fixed Marketing Costs $ 38,000

Variable Marketing Costs $ 11,500

Net Profit $ 65,500

Nile Castings

Income Statement Under Absorption Method

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Variable Marketing & Administrative Costs $ 11,500

Contribution Margin $ 144,500

Less Fixed Costs

Fixed Manufacturing Costs $ 41,000

Fixed Marketing Coss $ 38,000

Net Profit $ 65,500

3 0

3 years ago

Denny Corporation is considering replacing a technologically obsolete machine with a new state-of-the-art numerically controlled

aev [14]

Answer:

The simple rate of return of 4.54%

Explanation:

The simple rate of return of 8.75%

($97,000 - $56,000 - $27,500) ÷$297,000

=$13,500÷$297,000

=0.0454×100

=4.54%

The new machine $330,000 ÷ 12 years useful life

=$27,500

The new machine $330,000

Les old machine scrap $33,000

=$297,000

Therefore the simple rate of return is 4.54%

7 0

3 years ago

The management of Indiana Corporation is considering the purchase of a new machine costing $400,000. The company's desired rate

OLga [1]

Answer:

The average rate of return for this investment is 21%

Explanation:

Average rate of return : The average rate of return shows the ratio between average net income and average initial investment.

Mathematically,

Average rate of return = Average Net income ÷ Average Initial Investment

where Average Net income = Total years of net income ÷ Number of years

= ($100,000 + $60,000 + $30,000 + $10,000 + $10,000) ÷ 5

= $42,000

And, Average Initial Investment = Initial Investment ÷ 2

= $400,000 ÷ 2

= $200,000

Now, average rate of return = $42,000 ÷ $200,000

= 21%

Thus, the average rate of return for this investment is 21%

6 0

3 years ago

Abigail and Darcy are married. In 2017 they sold there home, which they had purchased in 2012, and lived in it since 2013. They

iris [78.8K]

Answer:

$485,000

Explanation:

Initial cost of home= $270,000+$45,000= $315,000.

Recognized gain= $800,000 - $315,000 = $485,000.

Remember, it was mentioned that Abigail and Darcy immediately purchased another home for $800,000. Very likely this money was derived from the first and only home they ever sold.

Therefore, their recognized gain after substracting the cost is $485,000.

7 0

3 years ago