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Lostsunrise [7]
2 years ago
12

The endpoints (horizontal and vertical intercepts) of the budget line: Group of answer choices represent the quantity of each go

od that could be purchased if all of the budget were allocated to that good. measure the rate at which one good can be substituted for another. measure its slope. indicate the highest level of satisfaction the consumer can achieve. measure the rate at which a consumer is willing to trade one good for another.
Business
1 answer:
erik [133]2 years ago
4 0

Answer:

represent the quantity of each good that could be purchased if all of the budget were allocated to that good.

Explanation:

The budget line is a graph which shows the two combinations of goods a consumer can consume given price and income level

<u>Properties of the budget line </u>

  1. When income increases, the budget line shifts outward and shifts inward when income decreases
  2. the horizontal and vertical intercepts represent  the quantity of each good that could be purchased if all of the budget were allocated to that good.
  3. the budget line is a straight line. This indicates that the marginal rate of substitution is constant
  4. the budget line is negatively sloped
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Mccaskell corporation's relevant range of activity is 7,000 units to 11,000 units. when it produces and sells 9,000 units, its a
vodka [1.7K]

Answer:

$79,600

Explanation:

Calculation for what the total amount of direct manufacturing cost incurred will be :

Direct material $50,400

(8,000 x $6.30)

Add Direct labor $29,200

(8,000 x $3.65)

Total Direct cost $79,600

Therefore the total amount of direct manufacturing cost incurred is closest to: $76,600

3 0
2 years ago
A company had net sales of $760,200 and cost of goods sold of $547,400. Its net income was $19,340. The company's gross margin r
suter [353]

Answer:

1. A company had net sales of $760,200 and cost of goods sold of $547,400. Its net income was $19,340. The company's gross margin ratio equals:______

c. 28.0%.

2. The monetary unit assumption means that all companies doing business in the United States must express transactions and events in US dollars.

A. True

3. Paid-in capital is the total amount of cash and other assets the corporation receives from its stockholders in exchange for its stock.

A. True

Explanation:

Gross profit margin is calculated by dividing the gross profit by the sales and multiplying by 100.  In this case, the gross profit is $212,800 ($760,200 - $547,400).  The amount, $212,800, then divided by $760,200 and multiplied by 100 to obtain approximately 28%.

The dollar is the monetary unit for all business transactions conducted in the United States.  The accounting assumption behind the monetary unit means that all transactions conducted in the United STates are reported in dollars.

8 0
2 years ago
Using the information below for Sundar Company; determine the total manufacturing costs added during the current year:
defon

Answer: $96,500

Explanation:

Manufacturing cost includes all the costs that went into production in a period including direct costs and manufacturing overhead:

= Direct materials + Direct labor + Manufacturing Overhead

Manufacturing overhead = Beginning work in process + Factory overhead - Ending work in process

= 11,200 + 52,600 - 11,800

= $52,000

Manufacturing cost = 19,500 + 25,000 + 52,000

= $96,500

3 0
2 years ago
ABC Company listed the following data for the current year:
RideAnS [48]

Answer:

$10,800 underapplied

Explanation:

Calculation for If overhead is applied based on machine hours, the overapplied/underapplied overhead is:

Overhead machine hours=[($1,044,000/24,000)×23,600]-1,037,400

Overhead machine hours=($43.50 x 23,600) - 1,037,400

Overhead machine hours=$1,026,600- 1,037,400

Overhead machine hours= $10,800 underapplied

Therefore If overhead is applied based on machine hours, the overapplied/underapplied overhead is:$10,800 underapplied

5 0
3 years ago
In January of 2018, the Phillips Company purchased a patent at a cost of $100,000. In addition, $10,000 in legal fees were paid
soldi70 [24.7K]

Answer:

The answer is: $113,000

Explanation:

By 2020, Phillips Company had already amortized $22,000 of the patent expenses (2 years x [10% x ($100,000 + $10,000)]). Since it lost its patent defense in 2020, it will now have to write off $113,000 ($88,000 pending amortization + $25,000 in legal fees) for the adjustment of its 2018 income.

5 0
3 years ago
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