Answer:
What is generally true-in terms of needs and wants-about families whose income is below the poverty threshold?
It is a known fact that human want is insatiable which gives room to always dare to have more, as poverty threshold is concerned. The need s would be more prioritized than the wants, it is when you have enough that is when go for what you want, but with an economic scale below poverty threshold, the needs comes first than anything
Explanation:
Answer:
The correct answer is letter "E": having enough books to satisfy customer demands versus the cost of having the inventory.
Explanation:
As stated in the case, bookstores do not worry about if the newly published book is going to be a hit in the stores. They only care about if at least some of their customers would want to buy the politician's book. Thus, the challenge for them is to find out if the stock they have is enough for their customers and what is the cost of storing that amount of books in their inventory.
Answer:
Retained earnings balance on Dec 31 = $2000
Explanation:
Statement showing computations
Particulars Amount
Opening balance in retained earnings $ 5,000.
Add income (Loss) = $3300 - $4100 (-$800.00)
Less Dividends Paid = (2,200.00)
Retained earnings balance on Dec 31 $2000
Answer:
Net income <u> 26,000</u>
Explanation:
Absorption costing classifies costs as production cost and non-production costs ( selling and distibution , administration e.t.c)
Income statement using Absorption costing
$
Sales Revenue 2,150,000
Less cost of goods sold
Direct material 960,000
Direct labour cost 420,000
Variable manufacturing 156,000
Fixed manufacturing <u>288,000</u>
production cost (<u> 1,824,000 )</u>
Gross profit 326,000
Selling and distribution
Variable 204,000
Fixed <u>96,000</u>
<u>(300,000) </u>
Net income <u> 26,000</u>
