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3 years ago

6. What are complements? evonomics

Business

1 answer:

hichkok12 [17]3 years ago

3 0

Answer:

The answer is below

Explanation

Complements in economics is a term that is used to describe goods that are used or consumed together. For example, pencil and eraser, pen and paper, etc.

Complements are goods in economics whose value is increased when combined with other goods. Another example of complement goods is movies and popcorn

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g Dave's Duds reported cost of goods sold of $2,000,000 this year. The inventory account increased by $200,000 during the year t

FrozenT [24]

Answer:

$2,200,000

Explanation:

The movements in the inventory account is as a result of purchases, sales and writeoffs if any. These are the events that bring about a change between the opening and closing balances.

Given;

cost of goods sold = $2,000,000

Increase in inventory = $200,000 (This is same as closing balance minus opening balance)

Ending balance = $400,000

Thus, opening balance = $400,000 - $200,000

= $200,000

Let the cost of merchandise that Dave's purchased during the year be N

$200,000 + N - $2,000,000 = $400,000

N = $400,000 + $2,000,000 - $200,000

N = $2,200,000

The cost of merchandise that Dave's purchased during the year is $2,200,000

6 0

3 years ago

A sum of K3,000 is borrowed for 2 years at the reducing balance interest rate of 12% p.a. compounded every two-monthly.

kobusy [5.1K]

a) The full loan repayment schedule for the two years is as follows:

<h3>Loan Repayment Schedule:</h3>

Period PV PMT Interest FV

1 $3,000.00 $283.68 $60.00 $2,776.32

2 $2,776.32 $283.68 $55.53 $2,548.17

3 $2,548.17 $283.68 $50.96 $2,315.45

4 $2,315.45 $283.68 $46.31 $2,078.08

5 $2,078.08 $283.68 $41.56 $1,835.97

6 $1,835.97 $283.68 $36.72 $1,589.01

Year #1 end

7 $1,589.01 $283.68 $31.78 $1,337.11

8 $1,337.11 $283.68 $26.74 $1,080.17

9 $1,080.17 $283.68 $21.60 $818.10

10 $818.10 $283.68 $16.36 $550.78

11 $550.78 $283.68 $11.02 $278.12

12 $278.12 $283.68 $5.56 $0.00

Year #2 end

b) The balance of the loan at the end of the seventh repayment period is <u>$1,337.11</u>.

c) The total interest paid for this loan is <u>$404.16</u>.

d) If the borrower decides to terminate the loan after the first year, the termination payment should be <u>$1,589.01</u>.

<h3>Data and Calculations:</h3>

N (# of periods) = 12 months (2 x 6)

I/Y (Interest per year) = 12%

PV (Present Value) = K3000

FV (Future Value) = K0

<u>Results</u>:

PMT every two months = $283.68

Sum of all periodic payments = $3,404.16 ($283.68 x 12)

Total Interest = $404.16

Learn more about loan repayment schedules at brainly.com/question/24576997

#SPJ1

4 0

1 year ago

Judy, looks after Kaelyn's four-year-old twins so Kaelyn can go to work (she drops off and picks up the twins from Judy's home e

MrRissso [65]

Answer:

$1,440

Explanation:

Judy is not a dependent relative of Kaelyn, therefore the expenditures are qualified up to $6,000 (for two qualifying persons).

Thus the applicable percentage is 24%.

($6,000×24%)

=$1,440 allowable credit

Therefore the amount of Kaelyn's child and dependent care credit if her AGI for the year was $36,600 will be $1,440

4 0

3 years ago

A growing trend to "Buy American" may encourage U.S. automakers to increase political pressure on Washington to pass legislation

Kazeer [188]

Answer:

C) a positive result from regulatory and economic environmental forces.

Explanation:

In the short run the whole economy will benefit, more American jobs will be created, consumers will probably get good cars at even lower prices, but on the long run the scenario may not be that good for everyone. If Toyota builds the plant, it will be the result of economic and political pressures, and that is a game that two can play, just ask farmers about the trade deal with China.

On the other hand, this is a type of deja vu (or been there, done that), and it ended up with GM and Chrysler bankrupt and Ford barely surviving. This types of policies were enforced in the 1980s by president Reagan and the famous "Made in the USA" by Bruce Springsteen. Back then Honda had a small factory and Toyota was starting to consider building a plant in the US, Nissan hadn't showed up yet. Fast forward a few years and the only good American vehicles are pickups, the Japanese brands wiped out the rest. The country is full of Camrys, Accords, Civics, Corollas, CRVs and Rav4s. They are great cars, too great for the American car manufacturers to compete against. Who knows, with this type of policies maybe in 10 years the only American car manufacturer left will be Tesla.

This is like playing with fire on top of a fuel truck.

5 0

3 years ago

High-Low Cost Estimation and Profit Planning Comparative 2007 and 2008 income statements for Dakota Products Inc. follow: DAKOTA

Vika [28.1K]

Answer:

(a)

5,500 units

(b)

6,125 units

Explanation:

First, we need to calculate the per unit selling price.

2007 2008

Unit sales 5,000 8,000

Sales revenue $60,000 $96,000

Selling Price $12 $12

Now we need th separate the vairbale and fixed cost from total expense using high low method

Variable cost = ( Higher activity Expense - Lower activity Expense ) / ( Higher activity - Lower activity )

Variable cost = ( $76,000 - $64,000 ) / ( 8,000 units - 5,000 units )

Variable cost = $12,000 / 3,000 units = $4 per unit

Fixed cost = $76,000 - ( $4 x 8,000 units ) = $44,000

Contribution Margin = Selling Price - Variable cost = $12 - $4 = $8

(a)

Breakeven Point = Fixed Cost / Contributin margin per unit

Breakeven Point = $44,000 / $8 = 5,500 units

(b)

Target sales = ( Fixed cost + Desired Profit ) / Contribution margin per unit

Target sales = ( $44,000 + $5,000 ) / $8 = 6,125 units

8 0

3 years ago