An inferior good is one for which an increase <span> in buyers income causes</span> a decrease in demand.
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Photon
Cork has to pay preferreds first. Owe 6000 x 6 or 36,000 to preferred holders. So 160k - 36k = $124k left for common.
Answer:
$30,000
Explanation:
Warranty liability is a liability account used to report the expected amount of repairing or replacing products already shipped. It's a contingency liability and it should be recorded independently from the actual warranty costs. Therefore, warranty liability, in this case, is:
$600,000 * 0.05 = $30,000
The estimated warranty liability reported in the balance sheet this year is $30,000
Answer:
See the explanation below.
Explanation:
The court likely to rule in favor of Ewing.
The reason is that the enough consideration that gives backing to a promise in this case is generally the waiver of a legal right to eat to obesity as requested by the other party.
The evidence that Ewing has lost 154 pounds in weight over the stipulated period is a consideration that sufficient enough under the law. The payment of $10 pound that Ewing has lost is a promise. The fact that Ewing also benefit from the weight loss does not matter.
Answer:
C. straight back chairs will be overcosted
Explanation:
Miller Company makes two types of chairs. One of the chairs is a rocking chair. The other is a straight-back chair. Both chairs are made by hand. Miller Company uses a company-wide overhead rate that is based on direct labor hours to assign overhead costs to the two products. If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis:
A. rocking chairs will be undercosted
B. There should be no impact on unit cost
C. straight back chairs will be overcosted
D. rocking chairs will be overcosted.
EXPLANATION
If Miller automates the production of straight-back chairs and continues to use direct labor hours as a company-wide allocation basis then the straight back chairs will be overcosted<u> because the automation process directly implies that it no longer drives labor hours since it is no longer made by hand.</u>
Automated processes should use machine hours rather than labor hours, for the allocation of its overhead.
