Answer:
The preparation is shown below:
Explanation:
The preparation of the month of June income statement for Crane Company is shown below:
Crane company
Income statement
Revenue
Service revenue $7,900
Total revenues $7,900 (A)
Less: Expenses
Supplies expense $1,155
Maintenance and repairs expense $690
Advertising expense $400
Utilities expense $210
Salaries and wages expense $1,100
Total revenues $3,555 (B)
Net income $4,345 (A- B)
And, the preparation of the retained earning statement is presented below
Crane company
Retained Earning statement
For the month of June
Beginning balance of retained earning $0
Add: Net income $4,345
Less: Cash Dividend paid -$1,738
Ending balance of retained earning $2,607
Part of the criteria to achieve the socially efficient production level is for firms to only produce units of output that are more highly valued by consumers than that of the associated productive costs.
<h3>
Definition of efficient production</h3>
An economic term known as production efficiency refers to the point at which an economy or other entity can no longer produce more of one good without reducing the production of another. This occurs when it is claimed that production is taking place along a production possibility frontier (PPF).
Productive efficiency is another name for production efficiency. Similar to productivity, productive efficiency denotes that something is working to its full potential.
In general, the term "economic production efficiency" refers to a level of maximum capacity when all resources are being used to their fullest extent in order to produce the most cost-effective product feasible.
Learn more about production efficiency
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Answer:
The correct answer is Three.
Explanation:
Opportunity cost is defined as what it costs us to decide on a decision and what it costs us to carry it out. In this case Esther produces 6 hamburgers per hour and Ebenezer 3; if it were decided to choose the latter, they would stop producing 3 hamburgers since Esther produces double. This would be the opportunity cost.
Since Eva would like more information on services available at her bank, she can use the following resources explained in item 3,5 and 2.
Item 3 customer services representative at the bank. This is the best choice. Item 2 printed material and item 5 bank websites can be included.
I guess the correct answer is utility
In deciding how many hours to work, Beulah will make a choice that maximizes her utility; that is, she will choose according to her preferences for leisure time and income
.