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Anuta_ua [19.1K]
2 years ago
6

In a monopolistic competitive industry, a. there are significant barriers to exit. b. there are few sellers. c. there are signif

icant barriers to entry. d. each firm in the industry produces a slightly differentiated product.
Business
1 answer:
Nesterboy [21]2 years ago
6 0

Each firm in the monopolistic competitive industry produces a slightly differentiated product.

The monopolistic competition occurs where competitive firms produces or manufactures products or services that are similar and close substitutes to one another.

The characteristics of the monopolistically competitive market includes:

  • presence of many sellers in the market
  • easy entrance and exit of consumers in the market
  • differentiated products in the market.

Therefore, the Option D is correct because each firm in the monopolistic competitive industry produces a slightly differentiated product.

Read more about monopolistic competition:

<em>brainly.com/question/25717627</em>

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Information on Wolfen Company's direct labor costs for the month of January follows: Actual direct labor rate $5.00 Standard dir
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Answer:

Standard Rate = $ 5.65

Explanation:

Wolfen Company

Actual direct labor rate $5.00

Standard direct labor hours allowed 11,000

Actual direct labor hours 10,000

Direct labor rate favorable $6,500

Using formula to find the unknown figure

Direct Labor Rate variance =   Actual Hours ( Standard Rate-Actual Rate)

$6,500= 10,000( Standard Rate-5)

$6,500/10,000 =  (Standard Rate-5)

0.65+ 5=Standard Rate

Standard Rate=5+0.65= $ 5.65

We can check by putting it in another formula

Direct Labor Rate variance=  (actual hours * standard rate)-(actual hours* actual rate)

$6,500=(10,000*Standard Rate)-( 10,000 *5.0)

$6,500= (10,000*5.65)-( 10,000 *5.0)

$6,500= (56,500)-( 50,000 )

$6,500=$6,500  (favorable) when standard price is higher than actual price

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Think of a situation when you received a bad news with direct pattern (without any buffer). How did you react in that situation?
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5 0
3 years ago
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QS 7-13 Note receivable interest and maturity LO P4 On December 1, Daw Co. accepts a $36,000, 45-day, 10% note from a customer.
asambeis [7]

Answer and Explanation:

The journal entries are shown below:

1. Interest Receivable $300($36,000 ×  10% x 30 ÷ 360)  

         To Interest Revenue $300

(Being accrued interest revenue is recorded)

2. Cash $36,450

          To Interest Receivable A/c $300

          To Interest Revenue A/c $150 ($36,000 ×  10% x 15 ÷ 360)    

          To Notes Receivable A/c $36000

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3 years ago
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$69.000 because it’s an less amount
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2 years ago
Goliath Corp. has beginning accounts receivable of $2,000. During the year, Goliath sold goods to customers on account for $10,0
pishuonlain [190]

Answer:

$12,000

Explanation:

According to the accrual accounting method, the reporting of the transactions should be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.

The revenue should be recorded when it is earned or realized and the expenses are recorded when it is incurred

So, in the given scenario, the amount based on accrual basis sales would be

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