When coffee Is traded between countries it is called a_______

Suppose you own a small business and have been thinking about expanding production, including hiring more workers. Until recentl

disa [49]

Answer: Economic Growth, Employment opportunities, Standard of living improvement.

Explanation:

Macroeconomics is a branch of economics that deals with the structure, performance, behavior, and the decision-making of the economy as a whole. It includes the regional, national, and the global economies.

Expanding production will help the economy in the following ways:

1. Provision of employment opportunities: An increase in production will lead to more goods and services being offered. This will in turn, lead to more workers who would be needed for production.

2. Increase in standard of living: There will be an increase in the standard of living for people that were not employed before and now gainfully employed due to the expansion.

3. Economic growth: Economic growth is the increase in the goods and services in the economy. Increase in production will enhance economic growth.

6 0

2 years ago

Luzadis Company makes furniture using the latest automated technology. The company uses a job-order costing system and applies m

zmey [24]

Answer:

1. Overhead over applied= $521,000

2. Factory Overhead Dr. $ 521,000

Cost Of Goods Sold Cr. $ 521,000

3. Work in Process, (ratio) $521,000 * 7%= 36,470

Finished Goods, $521,000 * 19%= 98,990

Cost of Goods Sold $521,000 * 74%= 385,540

Total $521,000 100%

4. Difference between the two CGS= $ 136,060

Explanation:

Predetermined Overhead Costs $1,152,000

Estimated activity level of 72,000 machine-hours

Overhead rate= $ 1152,000/ 72,000= $ 16 per hour

Manufacturing overhead cost $551,000

Actual hours = 67,000

Overhead applied to WIP = 67,000 * 16= $ 1072,000

Overhead over applied= $ 1072,000 - $551000= $521,000

Part 2:

Factory Overhead Dr. $ 521,000

Cost Of Goods Sold Cr. $ 521,000

The Cost of Goods Sold is credited and Factory overhead is debited.

Part 3:

Suppose the overhead is applied in the following ratio

Work in Process, (ratio) $37,520 7% (37520/536,00*100%)

Finished Goods, $101,840 19% (101840/536,00*100%)

Cost of Goods Sold $396, 640 74% (396,640/536,00*100%)

Total $536,000 100%

The overhead over applied would be allocated in the following way applying the same ratio as determined above.

Work in Process, (ratio) $521,000 * 7%= 36,470

Finished Goods, $521,000 * 19%= 98,990

Cost of Goods Sold $521,000 * 74%= 385,540

Total $521,000 100%

Part 4:

Cost of Goods Sold ( overhead applied of $396, 640) $1,472,600

Less Overhead overapplied $ 521,000

CGS = $ 951,000

Cost of Goods Sold (overhead applied to WIP & FG) $1,472,600

Less Overapplied Overhead $ 385,540

CGS= $ 1087,060

Difference between the two CGS = $ 1087,060- $ 951,000= $ 136,060

5 0

2 years ago

Based upon the following data for a business with a periodic inventory system, determine the cost of merchandise sold for August

mamaluj [8]

Answer:

Cost of merchandise = $235150

Explanation:

Below is the calculations:

Cost of merchandise = Opening inventory - ending inventory + purchases - purchase return - purchase discount + freight

Now plug the value in the above formula:

Cost of merchandise = 96610 - 100530 + 254660 - 13340 - 6320 +4070

Cost of merchandise = $235150

5 0

2 years ago

In some countries with very high inflation rates, citizens tend to spend their money as fast as they receive it in order to keep

ch4aika [34]

In some countries with very high inflation rates, citizens tend to spend their money as fast as they receive it in order to keep it from losing any more of its value. Under these conditions, money is said to lack stability

Explanation:

In most situations, two main factors of a high inflation rate are present in a national economy, which in most countries at the very most. Firstly, an increase in consumer spending in comparison to supply could lead to high inflation. The prices rise when more people fought about fewer goods.

Price stability ensures that excessive inflation and deflation are prevented.

Inflation represents an increase in the overall value for money and purchasing power of products and services within an economy over a prolonged period of time. Deflation is a fall over a longer period of time in the overall price cost for goods and services.

4 0

2 years ago

Why is it important to file your income taxes before tax day? provide two reasons.

Lana71 [14]

Answer:

There are several reasons to complete tax returns early rather than waiting until Tax Day: More accurate returns potentially resulting in larger refunds. Less competition for appointments with tax preparers. More time to plan for tax payments. Less chance of tax fraud.

Explanation:

:) DO YOUR TAXES!!! lol

8 0

1 year ago

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When coffee Is traded between countries it is called a________.