Answer:
$4,634 million
Explanation:
The movement or change in the raw materials balance is as a result of purchases and use. The more the raw materials are used, the more reduced the raw material balance is and the more the purchase, the higher the balance.
Hence the relationship may be stated as
Opening balance + purchases - use = closing balance
$986 million + $4,576 million - amount used = $928 million
Amount used = $986 million + $4,576 million - $928 million
= $4,634 million
Answer:
One person's spending is another person's income
Explanation:
The economic principle that this statement best represent is one person's spending is another person's income as this refers to the fact that when someone buys a product or service, the money paid represents earnings for the person that owns the business and the employees. In this case, the typewriter shop went out for business because people is not spending money in typewriters and because of that, Alfred doesn't get any income.
Answer:
The direct materials cost for May was $50,600
Explanation:
The computation of the direct materials cost is shown below:
= Beginning balance of raw material + purchase during the month - indirect raw material - ending balance of raw material
= $27,000 + $77,000 - $3,400 - $50,000
= $50,600
For computing the actual amount of the direct material we have to deduct the indirect raw material and the ending balance too.
Answer:
The correct answer to the following question is option B) the amount of reserves would decline.
Explanation:
If a person like in this case Steffi , withdraws $400 in cash from her checking account , then there would be an obvious decline in the bank reserves by $400 but here the monetary base would remain unchanged as by taking out the money in cash , the amount money supply among the people in the economy would increase . So therefore the correct option is B .
Answer:the quantities of some factors of production are fixed; the quantities of all factors of production can be varied - D
Explanation:
In the short run, some factors of production are fixed, which is usually the capital. Therefore for a company to increase output, it would need employ more workers, but would not increase capital.
Therefore in the short run, we can get diminishing marginal returns, which may cause marginal costs to start increasing quickly.
Also, in the short run, prices and wages fall out of equilibrium because a sudden rise in demand may lead to higher prices, and companies may not have the the capacity to respond and increase supply.
Long run
In the long run, usually greater than 6 months, all main factors of production are variable. The company has time to build a bigger one making it respond to changes in demand which means that a sudden rise in demand, would have a complimentary increase in supply to meet the demands and prices can be adjusted.
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