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almond37 [142]
3 years ago
14

Assets = liabilities + owners' equity is the equation for information reported on the

Business
1 answer:
Advocard [28]3 years ago
3 0
<span>Assets = liabilities + owners' equity is the equation for information reported on the: Balance sheet

In accounting, balance basically represents a brief overview about what the company currently own.
Assets represent something valuable that the company own to conduct their operation, Liabilities represent the debt that they have to pay to other individual or entities, And owner equity represents how much ownership one person have from all the things that the company owns.</span>
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Crimp corporation uses direct labor-hours in its predetermined overhead rate. at the beginning of the year, the estimated direct
Anton [14]

First of all, the predetermined overhead will be calculated.

Predetermined overhead rate = Estimated manufacturing overhead / Estimated direct labor hour

Predetermined overhead rate = $ 258,000 ÷ 15,000 hours = $ 17.20 per direct labor hour

Actual manufacturing overheads = $ 253,000

Applied manufacturing overheads = Predetermined overhead rate × Actual direct labor hours

Applied manufacturing overheads = $ 17.20 × 13,100 = 225,320

Applied manufacturing overheads are less than actual manufacturing overheads, thus overheads are under applied.

Actual manufacturing overheads - Applied manufacturing overheads = $ 27,680 under applied

4 0
3 years ago
"Price gouging" is when a seller responds to high demand by charging as much as they possibly can, even if that price exceeds wh
Kamila [148]

Answer:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

Explanation:

Price gouging is charging unnecessarily high prices for goods if they are in high demand in market. From a sellers perspective its profitable because he/she is able to get more profits on a good and because the goods have a high demand the goods will eventually be sold even on a high price.

From a consumers perspective if the good is a basic need and the consumer is paying high price for it, this can be frustrating but the consumer will have to buy it. If the commodity is not a basic need then the consumer can just stop buying that good and can substitute any other good.

6 0
2 years ago
You invested $5,000 in the Cog corporation and $5,000 in the Gear corporation. Both of these corporations have $100 million in t
elena-14-01-66 [18.8K]

Answer:

(d) Gear is more efficient than Cog.

Explanation:

5 0
3 years ago
Read 2 more answers
How does price discrimination help cover fixed costs?
Svetradugi [14.3K]
For the case of a consumer with an inelastic demand curve, it is less costly to cater for them, hence reducing the production fixed cost. given that different customers will be charged differently for the same product, it is easy to cover for a low profit range.
3 0
3 years ago
Three partners are investing a total of 250,000 in a new cell phone repair shop.their investments are in the ratio of 3:5:12.how
Dahasolnce [82]
Let say A,B&C and the ratio is 3:5:12
3+5+12=20
250000divide by 20 = 12500
12500x3=37500
12500x5=62500
12500x12=150000
So A invested 37500
B invested 62500
C invested 150000
8 0
3 years ago
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