Answer:
(a) 10.4%; 16.73%
(b) 6.33%
Explanation:
Given that,
Wages paid to the workers in 2016 = $25 per hour
Price level in 2016 = 241
Wages paid to the workers in 2017 = $41 per hour
Price level in 2017 = 245
Real wage rate in 2016:
= (Nominal wages ÷ Price level) × 100
= ($25 ÷ 241) × 100
= 0.104 × 100
= 10.4%
Real wage rate in 2017:
= (Nominal wages ÷ Price level) × 100
= ($41 ÷ 245) × 100
= 0.1673 × 100
= 16.73%
Therefore, the real wage increase received by these workers in 2017 is calculated as follows:
= Real wage rate in 2017 - Real wage rate in 2016
= 16.73% - 10.4%
= 6.33%
Hence, these workers do get a raise between the two years.
Answer: C $116,500
Explanation:Northwest ending inventory is calculated thus:
Opening Inventory $94,000
Purchases $400,000
Freight Charges $7,500
Good Returned ($5,000)
Goods Sold ($380,000)
Closing Inventory $116,500
Answer:
The seller's maximum gain was $34,000.
Explanation:
After considering depreciation on the the building, it was still sold with a profit of $34,000. Also, the gain on the sale of the building is actually lesser than the amount of accumulated depreciation. Hence, the conclusion is that the seller's maximum gain was $34,000.
Answer:
Personally, I think that Adam Smith would criticize the capitalist systems of today, as these countries spend an enormous amount of resources on political and economic measures of social assistance (such as public health or subsidies for certain expenses). These expenditures in general, and especially the enormous amount of resources allocated to social welfare, are contrary to the theory of the invisible hand, by which markets and their mechanisms of competition are by themselves the only ones that benefit the population.
Answer:
Total contribution margin= $59,800
Explanation:
Giving the following information:
Unitary selling price= 155,400 / 4,200= $37
Unitary variable cost= 100,800 / 4,200= $24
<u>To calculate the total contribution margin, we need to use the following formula:</u>
Total contribution margin= units sold*(selling price - unitary variable cost)
Total contribution margin= 4,600*(37 - 24)
Total contribution margin= $59,800