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lorasvet [3.4K]

3 years ago

8

An industry has 5 firms. Firm A has 30% of the market, Firm B and Firm C each have 25% of the market, Firm D has 15% of the mark

et, and Firm E has 5% of the market. What is the HHI for this industry

1 answer:

stiks02 [169]3 years ago

5 0

Answer:

2400

Explanation:

The HHI is calculated by squaring the market share of each firm in the industry.

30² + 25² + 25² + 15² + 5² = 2400

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Answer:

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A.Dr Materials 504,800

Cr Account payable 504,800

B.Dr Work in process 487,300

Dr Factory overhead 4500

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Explanation:

Entries for Materials Kingsford Furnishings

a) Journal entry

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Polyester filling 134,300

Lumber 264,700

Glue 9,200

Total 504,800

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Cr Account payable 504,800

b) Journal entry

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c) Calculation of the ending balance

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Beginning balance

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Purchase

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Used

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Ending balance

$29,400 $16,100 $30,400 $6,500

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