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3 years ago

Explain in more than 3 sentences why does the USA imports so much from China.

1 answer:

8 0

The U.S. depends heavily on China for providing the low-cost goods that enable income-constrained American consumers to make ends meet. The U.S. also depends on China to support its own exports. Next to Mexico and Canada, China is America's third-largest and by far its most rapidly growing major export market.

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Sales revenue$ 4,000Purchases of direct materials$ 400Direct labor$ 450Manufacturing overhead$ 620Operating expenses$ 650Beginni

djyliett [7]

Answer:

Direct material used= $420

Explanation:

Giving the following information:

Sales revenue= $4,000

Purchases of direct materials= $400

Direct labor= $450

Manufacturing overhead= $620

Operating expenses= $650

Beginning raw materials inventory= $200

Ending raw materials inventory= $180

Beginning work in process inventory= $320

Ending work in process inventory= $410

Beginning finished goods inventory= $250

Ending finished goods inventory= $200

Direct material used= ?

Direct material used= beginning inventory raw material + purchase - ending inventory raw material

Direct material used= 200 + 400 - 180= $420

5 0

3 years ago

Suppose that a rise in business confidence has led to more investment in the economy and higher levels of output. In the short-r

Shtirlitz [24]

Answer: Keynesian economic theory

Explanation: Keynesian analysis says the rise in aggregate demand will ___boost growth _____ Keynesians believe consumer demand is the primary driving force in an economy. while the neoclassical model predicts ____looked at labor contracts as sources of wage stickiness to generate equilibrium models of unemployment.____ in the long run.

8 0

3 years ago

Local Co. has sales of $ 10.1 million and cost of sales of $ 5.5 million. Its selling, general and administrative expenses are

Firlakuza [10]

Answer:

1. 45.5%

2. 13.3%

3. 7.2%

Explanation:

The formulas and calculations are shown below:

1. Gross margin = (Sales - cost of sales) ÷ (sales) × 100

= ($10.1 million - $5.5 million) ÷ ($10.1 million) × 100

= ($4.6 million) ÷ ($10.1 million) × 100

= 45.5%

Gross profit = Sales - cost of sales

2. Operating margin = (Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges) ÷ (sales) × 100

= ($4.6 million - $460,000 or $0.46 million - $1.4 million - $1.4 million) ÷ ($10.1 million) × 100

= ($1.34 million) ÷ ($10.1 million) × 100

= 13.3%

Operating income = Gross profit - selling, general and administrative expenses - research and development - annual depreciation charges

3. Net profit margin = (Operating income - taxes) ÷ (sales) × 100

= ($1.34 million - $0.6097 million) ÷ ($10.1 million) × 100

= ($0.7303 million) ÷ ($10.1 million) × 100

= 7.2%

The income tax expense = Operating income × income tax rate

= $1.34 million × 45.5%

= $0.6097 million

6 0

3 years ago

if you choose between two summer jobs, what is the one you do not choose called? b. opportunity cost c. decision at the margin d

aleksandr82 [10.1K]

Opportunity cost because it was an option but not the right choice

8 0

3 years ago

The following labor standards have been established for a particular product:

jok3333 [9.3K]

Answer:

Direct labor time (efficiency) variance= 16,497 favorable

Explanation:

Giving the following information:

Standard labor-hours per unit of output 10.3 hours

Standard labor rate $14.10 per hour

Actual hours worked 8,100 hours

Actual output 900 units

<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Standard quantity= 10.3*900= 9,270

Direct labor time (efficiency) variance= (9,270 - 8,100)*14.1

Direct labor time (efficiency) variance= 16,497 favorable

6 0

3 years ago