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Oksana_A [137]
3 years ago
6

Determine how each event affects the position of the long-run aggregate supply (LRAS) curve.

Business
1 answer:
faltersainse [42]3 years ago
6 0
I believe it’s B it makes more sense
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Diaz Company reports the following variable costing income statement for its single product. This company’s sales totaled 55,000
kirill [66]

Answer:

Sales                               3,575,000

Variable Manufacturing   1,567,500

Fixed Manufacturing      <u>    247,500</u>

COGS:                               1,815,000

gross profit                       1,760,000

Variable S&A expense      302,500

Fixed S&A expense     <u>        191,250  </u>

Net Income                      1,266,250‬

Explanation:

Absorption cost will consider unit cost only the manufacturing department cost the rest are period cost.

We solve for the fixed overhead per unit using produced units:

Fixed overhead $382,500 / 85,000 = 4.5

Then we add it to the variable cost of 28.5 and get a unit cost of $33

Wer multiply by the 55,000 units to get COGS

the rest will be period cost.

7 0
3 years ago
Read 2 more answers
[5] According to the FASB’s conceptual framework, which of the following best describes the distinction between expenses and los
PIT_PIT [208]

Answer:

D. Losses result from peripheral or incidental transactions, and expenses result from ongoing major or central operations of the entity

Explanation:

The expenses represent the cash outlow or liabilities taken to carry out the activities to continue his operations.

While the Gains and Losses are incidental transactions or other events which are not controlled by the entity management. They aren't the outcome of the company's decisions. Thus, they could arise from changes in price of real state, equipment, tecnology breakthrough which means equipment obsolete and so on.

7 0
3 years ago
In a economy, the government owns the means of production.
Daniel [21]

Answer:

(a) Command

Explanation:

A command economy is also known as planned economy and it can be defined as a type of economy in which the government owns and control the means of production.

This ultimately implies that, in a command economy, the government owns the means of production.

Societies that operate a command economy generally practices communism.

Communism is a system of philosophical, political, social organization and economical ideologies that advocates the elimination of private property but a profit-based economy with public ownership of the means of production.

It ultimately aims to ensure each person contributes and receives according to their abilities and needs.

Vietnam, China and Cuba are examples of communist countries that operate a command economy.

In conclusion, a command economy requires that the method of exchange, distribution, as well as the means of production of goods and services and allocation of resources for production should be controlled or regulated by the public (government) rather than the private sector.

5 0
2 years ago
During the preparation of the bank reconciliation for Building Concepts Co., Joel Kimmel, the assistant controller, discovered t
Andrews [41]

Answer:

Joel is behaving in a totally unprofessional & unethical manner

Explanation:

As assistant controller, Joel Kimmel's job specification & responsibility includes financial statement preparation & combination, putting of internal controls in place, detailed analysis & reporting of cost variance, acts as the go-between with external auditors amongst other such responsibilities.

As such, when Joel discovered the cost discrepancy during the reconciliation, it was actually his responsibility to call the bank's attention to the variance. This is something that clearly falls under his job specification & can be considered as neglect of duty. Joel's decision defeats the very purpose of bank reconciliation, which is to correct any such discrepancy & to the ensure the rectification of transactions. Most importantly, the decision Joel plans to take is very unethical & is against standard accounting practices

We can therefore, say that Joel's decision is thoroughly unethical & unprofessional

5 0
3 years ago
Read 2 more answers
A listing of all possible returns on an investment, with a chance of occurrence assigned to each return is known as _____.
Anna35 [415]
Answer: Probability Distribution
4 0
3 years ago
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