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lina2011 [118]
2 years ago
13

Scarcity is central to the study of economics because it implies that.

Business
1 answer:
kupik [55]2 years ago
3 0

Answer:

Every choice involves an opportunity cost

Explanation:resources are not unlimited

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Lucci Inc. is a retailing firm specializing in high-end merchandise. Each of Lucci's stores uses the retail inventory method by
ludmilkaskok [199]

Answer:

1 Line item description                Cost                Retail

2 Beginning inventory                 40000            360000

3 Purchases                                  1000000        10000000

4 Transportation in                       50000

5 Purchase returns                      -20000          -196000    

6 Net purchases(3+4+5)             1030000        9804000

7 Net additional markups                                    800000    

8 Cost to retail ratio                     1070000       10964000

  component(2+6+7)

9 Net markdowns                                                -500000    

10 Sales                                                                  -9800000    

11 Ending inventory,retail(8+9+10)                       664000

Setup calculation:

Cost to retail ratio = Cost to retail ratio component at cost/Cost to retail ratio component at retail

= 1070000/10964000

= 0.097592

= 9.76%

Ending inventory,cost = Ending inventory,retail*Cost to retail ratio

= 664000*9.76%

= $64806

Cost of goods sold = Sales*Cost to retail ratio

= 9800000*9.76%

= $956480

7 0
2 years ago
How is the dual credit program different from the AP program?
olga55 [171]

AP courses are part of the College Board organization that requires students to take a rigorous test at the end of the course to potentially earn college credit. A dual credit course on the other hand is an official course at Loyola University Chicago.

3 0
3 years ago
Read 2 more answers
Why do you think so many people borrow money for large purchases instead of using a sinking fund
sergey [27]
It is so they have more money for the business
6 0
3 years ago
Classifying Costs as Materials, Labor, or Factory Overhead Indicate whether the following costs of Procter & Gamble (PG), a
Brrunno [24]

Answer:

Explanation:

The direct material cost is the cost which is incurred for the raw material

The direct labor cost is the cost which is incurred to pay the wages to assembly workers, the labor cost, etc

And, the factory overhead cost is the indirect cost which is required at the time of producing the product. Example - depreciation, repairs & maintenance, etc

So, the categorization is shown below:

a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant = factory overhead cost

b. Licensing payments for use of Disney characters on children products = factory overhead cost

c. Maintenance supplies = factory overhead cost

d. Packaging materials = direct material cost

e. Paper used in bath tissue  = direct material cost

f. Plant manager salary for the Iowa City, Iowa, plant = factory overhead cost

g. Resins for body wash products =  direct material cost

h. Salary of process engineers =  factory overhead cost

i. Scents and fragrances used in making soaps and detergents  = direct material cost

j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant = direct labor cost

3 0
3 years ago
A _____ is subsidiary to the work-in-process account and is the primary document for accumulating all costs related to a particu
OlgaM077 [116]

Answer:

correct option is b. job-order cost sheet

Explanation:

A job order cost sheet is subsidiary to work in process

because job-order cost sheet are the documents that is use for record the manufacture cost.

and all necessary and important detail of cost & job is written in job cost sheet

and it is also accounting record of the company  

so here given that primary document for accumulate all cost related to a particular task

so correct option is b. job-order cost sheet

8 0
3 years ago
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