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3 years ago

What is production in essential commerce

Business

1 answer:

UNO [17]3 years ago

4 0

Answer:

Production can simply be defined as the creation of utility or production of goods and services which satisfy human wants.

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Assume that abby, ben, clara, joe, and matt are the only citizens in a community. A proposed public good has a total cost of $10

STatiana [176]

Answer: In a majority vote, this proposal will most likely be accepted.

Explanation:

The cost of the proposed public goods is $1000, which will be shared equally among the 5 people. So, per person share on the provision of public good will be,

$=\frac{1000}{5}$

$=$200$

Since, Abby, Ben and Clara value the good more than the cost they will vote in favor of the provision. But Joe and Matt value it less than the cost so they will vote against the provision.

Value to Abby is $220 which is greater than $200.

Value to Ben is $210 which is greater than $200.

Value to Clara is $210 which is greater than $200.

Value to Joe is $180 which is less than $200.

]Value to Matt is $120 which is less than $200.

So since 3 people out of 5 vote in favor of the proposal, the public good will be provided.

8 0

3 years ago

The following is a payroll sheet for Otis Imports for the month of September 2020. The company is allowed a 1% unemployment comp

DENIUS [597]

Answer:

a) I used an excel spreadsheet since there is not enough room here.

September 30, 202x, wages expense

Dr Wages expense 33,500

Cr Federal income tax withholdings payable 3,350

Cr FICA taxes (withholdings) payable 2,722.25

Cr Wages payable 27,427.75

b) September 30, 202x, payroll taxes expense

Dr FICA taxes expense 2,722.25

Dr FUTA tax expense 5.60

Dr SUTA tax expense 7

Cr FICA taxes withholdings payable 2,722.25

Cr FUTA taxes payable 5.60

Cr SUTA taxes payable 7

c) September 30, 202x, payment of payroll liabilities

Dr Wages payable 27,427.75

Dr Federal income tax withholdings payable 3,350

Dr FICA taxes withholdings payable 5,444.50

Dr FUTA taxes payable 5.60

Dr SUTA taxes payable 7

Cr Cash 36,234.85

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8 0

4 years ago

A capital projects fund for a new city courthouse recorded a receivable of $300,000 for a state grant and a $450,000 transfer fr

TiliK225 [7]

Answer:

$300,000

Explanation:

The grant of $300,000 happens not to have any restrictions mentioned alongside it in the question and as such will be declared or reported as revenue as an unrestricted grant. This is acceptable by the Governmental Accounting Standards Board, GASB.

Cheers

5 0

4 years ago

Current sales revenue is $5,000, total variable costs are $2,000, and total fixed costs are $1,000 (no data on units). a) Comput

adelina 88 [10]

Answer:

a) CMR= 0.6

b)CVP=0.6-$1,000

c) Profit= $5000

d) Sales $10,000

e) Break-even=$3000

f) Profit increases =$600

Explanation:

a) contribution margin ratio formula is

(Total revenue -variable cost )/Total revenue

=($5,000-$2,000)/$5,000= 0.6

b) CVP relation: profit as a function of sales revenue

Version 2:

Profit = CMR × Revenue – FC

where

CMR = contribution margin ratio (contribution per $ of sales)

Revenue = sales revenue in $

FC = fixed costs

That means

Profit = 0.6*Revenue-$1,000

c)profit = 0.6*$10,000-$1,000

profit = $6000-$1,000

profit =$5000

profit = 0.6*Revenue-$1,000

Revenue =(profit +$1,000)/0.6

Revenue = ($5,000 +$1,000)/0.6= 10000

e)Break even is when sales are equal to the cost.

sales revenue=variable costs+fixed costs

sales revenue=$2,000+$1,000

Break-even=$3000

f)profit increases

profit increases =0.6*Revenue-$1,000

profit increases =0.6*$1,000=$600

8 0

3 years ago

Some residents in your town want to build a new elementary school, but others do not. You are leaning toward the pro-school camp

lord [1]

Answer:

B. Attitude inoculation, Increase

Explanation:

6 0

3 years ago

What is production in essential commerce​

What is production in essential commerce