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3 years ago

Who determines whether a good is normal or inferior?

Business

1 answer:

icang [17]3 years ago

8 0

Answer:

Explanation:

Determining whether a good is normal or inferior depends on individuals. When there is a rise in the income of a person and he/she buy more of a good, it shows that good is normal. When there is a rise in a person income and there is a decrease in the demand for goods, then the product is inferior.

Therefore, it is an individual who determines whether a good is normal or inferior. Thus option A is correct.

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A department adds all materials at the beginning of the process and incurs conversion costs uniformly throughout the process. Fo

zubka84 [21]

Answer:

The unit costs for materials is $1.62 per unit

The unit costs of conversion costs is $2.13 per unit

Explanation:

In determining the the unit production costs for materials and conversion costs, it is very important to calculate equivalent number of units applicable to materials as well as the one applicable to conversion costs

Equivalent units for materials

Completed units 40000 @100% complete 40000

Ending inventory [email protected] 100% complete 20000

60000

Equivalent units for conversion costs

Completed units [email protected]% 40000

Ending inventory 20000 @ 30% complete 6000

46000

unit production costs of materials=$96960/60000=$1.62 per unit

unit production costs of conversion costs=$97860/46000=$2.13 per unit

8 0

4 years ago

Suppose that a small county is considering adding a guard rail to a dangerous curve by a river. The guard rail will cost $70,000

hram777 [196]

Answer:

do not Install guard rail because the guard rail cost exceed the expected benefits

Explanation:

given data

guard rail cost = $70,000

average damage = $10,000

guard rail prevent = 5 vehicles

to find out

What should the county do

solution

we know here guard rail cost is $70,000

but expected benefits = $10,000 × 5

expected benefits = $50,000

so we can say that do not Install guard rail because the guard rail cost exceed the expected benefits

5 0

3 years ago

predetermined overhead rate on the estimated machine-hours for the upcoming year. At the beginning of the most recently complete

Papessa [141]

Answer:

Total overhead rate = $34.17 per machine hour

Explanation:

The total overhead rate would the sum of the variable overhead rate and the fixed overhead rate

The pre-determined fixed overhead absorption rate = Estimated fixed overhead /Estimated machine hours

DATA:

Estimated overhead - $256,500.

Estimated machine hours - 10,000 machine hours

The pre-determined fixed overhead absorption rate =

$256,500/ 10,000 machine hours = 25.65 per hour

The pre-determined overhead absorption rate = $25.65 per hour

Total overhead rate = Variable rate + Fixed rate

= $8.52 + $25.65 = $34.17

Total overhead rate = $34.17 per machine hour

3 0

3 years ago

The area of accounting concerned with providing internal users with information is called.

anzhelika [568]

Management accounting is an area of accounting known for providing information to internal users.

<h3>What is management accounting?</h3>

Management Accounting is an area of accounting that refers to providing information to support internal management decisions. This accounting assist managers identify problem areas in budgeting and then develop a different plan to addressing those problems.

The role of management accounting includes:

Monitoring costs
Conduct audits
Identify past trends and predict future needs.

Therefore, the area of accounting concerned with providing internal users with information is known as management accounting.

Learn more about management accounting here : brainly.com/question/1283492

7 0

2 years ago

Peter Realtors, a real estate consulting firm, specializes in advising companies on potential new plant sites. The company uses

marissa [1.9K]

Answer:

1. Hourly Direct Labor Cost rate = Direct Labor cost / Direct Labor hours

Hourly Direct Labor Cost rate = 2,500,000 / 25,000

Hourly Direct Labor Cost rate = $100 per hour

Computation of Indirect cost

Office Rent $320,000

Support staff salaries $1,260,000

Utilities $420,000

Total Indirect Costs $2,000,000

Predetermined indirect cost allocation rate = = Total Estimated indirect cost / Total estimated direct labor cost = 2,000,000 / 2,500,000 = 80% of Direct Cost

2. Direct Labor $25,000 (250 * 100)

Indirect Cost $20,000 (25,000 * 80%)

Total Predicted cost $45,000

3. Predicted cost $45,000

Desired Profit $22,500 (50% of $45,000)

Required Service revenue $67,500

4 0

4 years ago