HERE IS/ARE THE FULL QUESTION(S):
The small island nation of Kaboom is a simple economy with no government, no taxes, and no imports or exports. Kaboomers (citizens of Kaboom) are creatures of habit. They have a rule that everyone saves exactly 40 percent of income. Assume that planned investment is fixed and remains at 225 million Kaboomian dollars. Further assume that autonomous consumption (independent of Y) is zero, so consumption (C) is MPC times Upper YMPC×Y.
The following data are estimates for the island of Kaboom:
bullet• Real GNP (Y): 422 million Kaboomian dollars
bullet• Planned investment spending (I):225 million Kaboomian dollars
You are asked by the business editor of the Explosive Times, the local newspaper, to predict the economic events of the next few months.
Based on the data given, you predict inventories will DECREASE and the level of real GNP will INCREASE.
Things will stop changing when SAVINGS EQUAL INVESTMENT.
Kaboom's economy will reach equilibrium when its real GNP = 563 MILLION Kaboomian dollars
Answer:
Total product cost= $181,000
Explanation:
<u>The product cost is the sum of the direct material, direct labor, and manufacturing overhead:</u>
Direct materials $ 70,000
Direct labor $ 37,000
Variable manufacturing overhead $ 12,000
Fixed manufacturing overhead $ 25,000
Total manufacturing overhead $ 37,000
Total product cost= $181,000
Lobbying or providing information supporting their policy positions to legislators, is a visible role played by interest groups.
Lobbying are efforts that are directed primarily at the national level; committees of Congress that consider legislation, and executive departments. Those involved depend on their personal relationship with members of Congress and the executive branch, which are based on keeping in regular contract.
Answer:
Following are the responses to the given question:
Explanation:
For question 1:
Calculating the cost per unit:
For question 2:
Calculating the ending inventory units:
Calculating the cost for the Ending inventory:
For question 3:
Calculating the absorption costing for the income statement:
Particular Amount
Sales 
-COGS
Gross profit 
Cost of variable marketing 
marketing and administrative costs are fixed 
Net income 
Answer:
1,350 units; 918 units
Explanation:
Ending inventory:
= Beginning inventory + Units started - Units completed and transferred
= 750 + 9,500 - 8,900
= 1,350
Equivalent units of ending work in process for Materials:
= 100% complete × Ending inventory
= 100% × 1,350
= 1,350 units
Equivalent units of ending work in process for Conversion:
= 68% complete × Ending inventory
= 68% × 1,350
= 918 units
