All economic questions and problems arise from <span>C. scarcity. scarcity is defined as the lack of resources and is the opposite of abundance. If scarcity such as famine is experienced by a country or nation, there arise questions why such state happened</span>
Answer: $603,500
Explanation:
Ending inventory in 2014;
= Ending inventory balance 2013 + ((
* 100) - ending inventory 2013)) * Price index 2014/100
= 550,000 + ((
) - 550,000)) * 107/100
= $603,500
<span>The morgan company, a small furniture manufacturer, divides its organization into marketing, human resources, accounting, and production departments. this is an example of departmentalization by function
</span>
Answer:
government's policy.
Explanation:
Govenment policies on tax decide what to tax and where to allocate the resources of the tax.
Answer:
Explanation:
Standard pounds per cake = 3 pounds
Standard unit price = $3
Standard pounds 5500 cakes = 16,500 pounds
Actual pounds per 5500 cakes = 16,650
Variance = (16,650 - 16,500)=150
Cost of actual materials used = actual materials * standard price
=16,650*3 =49,950
Cost of work in progress = Standard materials * standard price = 16,500*3= 49.500
Direct material quantity variance = Quantity variance * 3
150*3 = 450
Journal entry
Debit work in progress = 49,500
Debit material quantity variance = 450
Credit Material = 49,950
