Answer:
The three economic questions that every society must answer are as follows: "What to produce?" "How to produce?" and "For whom to produce?"
"What to produce": The quantity in which a commodity is to be produced is set at that level where demand equals supply. If quality produced is more or less, then there will be dis equilibrium in the market and price will fluctuate. Hence, to maintain stable equilibrium price it becomes necessary to make demand and supply equal.
"How to Produce": There are two types of techniques. A labor-intensive technique would employ relatively more labor and less capital. On the other hand, capital- intensive technique means more capital and less labor. The choice of technique depends on the prices of the factors of production. That is, if labor is cheap and capital is expensive, a labor-intensive technique would be considered and vice-versa.
"For whom to produce": The solution of this problem is very simple commodity can be consumed only by people who have more purchasing power. Price mechanism determines the income of the workers, i.e.; purchasing power. The purchasing power of the owner of capital is determined in the same way. Thus, when the price of every commodity and every factor of production are determined, the third problem will be solved
Answer:
B. Public relations
Explanation:
Public relations is the strategic process whereby an organization builds a mutually beneficial relationship between them and the general public. It is a form of creating a stronger brand reputation. By sending donation envelopes to each family in the neighbouring county, the Musuem and its officials are engaging in public relations. It involves engagements between an organization its surrounding public.
Answer:
14-Jan
Dr Trade Receivable $1,125
Cr Sales
14-jan
Dr Cost of sales 625
Cr Inventory 625
9-Apr
Dr Inventory 375
Cr Trade Payable 375
2-Sep
Dr Trade Receivable $2,500
Cr Sales $2,500
2 sep
Dr Cost of sales $1,375
Cr Inventory $1,375
Dec 31 No journal entry
Explanation:
Preparation to Records the month-end journal entries noted below, assuming the company uses a periodic inventory system
14-Jan
Dr Trade Receivable $1,125
Cr Sales (45*25)
14-jan
Dr Cost of sales[25*25] 625
Cr Inventory 625
9-Apr
Dr Inventory (25*$15) 375
Cr Trade Payable 375
2-Sep
Dr Trade Receivable $2,500
Cr Sales (50*50) $2,500
2 Sep
Dr Cost of sales $1,375
Cr Inventory $1,375
($2,500-$1,125)
Dec 31 No journal entry
Answer:
236.25
Explanation:
Calculation to determine X
First step is to calculate the 6 months Yield
6 month Yield=(40/40+20) (80/40+20) (157.60/80+80)+1)
6 month Yield=(40/60) (80/60) (157.60/160)-1
6 month Yield=5%
Second step is to calculate the Annual equivalent
Annual equivalent=(1.05)^2-1
Annual equivalent=10.25%
Third step is to calculate the 1 year yield
1 year yield=(40/50) (80/40+20) (175/80+80) (x/175+75)
1 year yield=(40/50) (80/60) (175/160) (x/250)-1
1 year yield=0.1025
Now Let calculate X
x(0.004667)=1+.1025
x(0.004667)=1.1025
x=1.1025/0.004667
x=236.25
Therefore X is 236.25
Answer:
$480
Explanation:
Data provided in the question:
Machine Hours Repair Costs
2,400 $6,385
1,200 $3,480
2,000 $5,285
3,400 $8,980
Now,
Machine Hours Repair Costs
Highest 3,400 $8,980
Lowest 1,200 $3,480
Difference 2,200 $5,500
Unit variable cost = $5,500 ÷ 2,200
= $2.5
Total cost at high level = $8,980
Machine hours highest level = 3,400
Also,
Total cost at high level = Fixed cost + Variable cost at highest level
or
$8,980 = Fixed cost + [ $2.5 × 3,400 ]
or
Fixed cost = $8,980 - [ $2.5 × 3,400 ]
= $8,980 - $8,500
= $480
