Scarcity is the condition wherein the mean to and end (that is resources required to achieve set goals) are limited in relation to the goals that need to be achieved.
Because of the above, one has to carefully make their choice while allocating the resources accordingly.
<h3>What is opportunity Cost?</h3>
When a choice is made between two competing alternatives, it means that one alternative has to be foregone. The alternative foregone is called the Opportunity Cost.
<h3>
What is a rationing device?</h3>
A rationing device is a system that determines who receives what of limited commodities and resources.
Price is one of the most regularly employed rationing techniques in a capitalistic (market-based) economic system.
Those who are willing and able to pay the price for a certain commodity (or resource) can obtain it.
Learn more about Scarcity:
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A benefit of 401k It is Less of investment risk.
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Answer and Explanation:
The computation is given below:
a) Observation time is
= Average time
= 1.2 minutes
b) Normal time is
= Observation time × performance rating
= 1.2 minutes × 0.95
= 1.14 minutes
c. The standard time is
= Normal time × allowance factor
= 1.14 × 1.11
= 1.265 minutes.
The allowance factor is
= 1 ÷ (1 - Allowances)
= 1 ÷ (1 - 0.1)
= 1.11
Answer:
The total amount of past-due accounts receivable that were written off as uncollectible during the year were: $17,300
Explanation:
The amount of past-due accounts receivable that were written off as uncollectible during the year are calculated by following formula:
Past-due accounts receivable that were written off as uncollectible = The Allowance for Bad Debts account had a balance at the beginning of the year + Bad debts expense was recognized - The Allowance for Bad Debts account had a balance at the end of the year = $8,500 + $16,000 - $7,200 = $17,300
Answer:
The depreciation for 2014 is $6900
The depreciation for 2015 is $9300
Explanation:
Please see attachment .
