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3 years ago

According to the cost-push theory , what is responsible for inflation?

Business

2 answers:

lara31 [8.8K]3 years ago

8 0

Producers raise prices to meet increased costs .

Tasya [4]3 years ago

6 0

When resources are low, businesses know that they can increase their prices because people need them desperately.

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the manufacturing overhead account shows debits of $240,000, $192,000, and $224,000 and one credit for $688,000. based on this i

frutty [35]

The manufacturing overhead was overapplied by $32,000. Hence the correct choice of answer for this question would be option (b).

<h3>Give a brief account on manufacturing overhead.</h3>

Manufacturing overhead includes all incidental costs encountered during the production process. This overhead applies to units produced within a reporting period.

Some examples of costs that fall within the manufacturing overhead category are as follows:

Depreciation may be applied to production-related equipment.
property assessments for the manufacturing facility

Rent on the manufacturing facility
wages for maintenance workers
Manufacturing managers' salaries
salaries of the personnel in charge of materials
salaries of the quality assurance personnel
supplies not specifically related to the products
Building janitorial staff's salaries

As direct materials and direct labor are generally considered to be the only costs that are directly applied to a unit of production, manufacturing overhead is becomes all of the indirect costs that a factory incurs.

To know more about, manufacturing overhead, visit :

brainly.com/question/17052484

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The complete question is mentioned below :

The Manufacturing Overhead account shows debits of $240,000, $192,000, and $224,000 and one credit for $688,000. Based on this information, was manufacturing overhead over- or underapplied and by how much?

a. $32,000 overapplied

b. $32,000 underapplied

c. Overhead has not yet been applied

d. Overhead is neither over- or underapplied

6 0

1 year ago

Alicia sold her personal residence to Rick on June 30 for $295,000. Before the sale, Alicia paid the real estate tax of $4,425 f

schepotkina [342]

Answer:

$291,460

Explanation:

Data provided in the question:

Purchasing cost of the personal residence = $295,000

Real estate tax paid by Alice before the sale = $4,425

Property tax allocated to Alicia = $885

Property tax allocated to Rick = $3,540

Now,

Rick's basis in the residence will be

= Purchase cost - Property taxes allocated to Rick

= $295,000 - $3,540

= $291,460

7 0

3 years ago

A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's: Select one: a. Cost of goods sold. b.

velikii [3]

Answer:

(B) Cost of goods purchased

Explanation:

While a merchandising company buys goods from its suppliers (goods purchased) and adds this to its opening inventory to determined the quantity of goods it has available for sale (goods available for sale), a manufacturing firm makes the goods to be sold (goods manufactured) and add to its opening inventory of finished goods to determine the same metric (quantity of goods available for sale).

This relationship can be seen when the trading account of both firms are compared.

8 0

4 years ago

Indigo Corporation had the following tax information.

Andrei [34K]

Answer:

Explanation:

Given that:

Indigo Corporation had the following tax information.

Year Taxable Income Tax Rate Taxes Paid

2015 $294,000 35% $102,900

2016 332,000 30% 99,600

2017 399,000 30% 119,700

In 2018, Indigo suffered a net operating loss of $487,000, which it elected to carry back. The 2018 enacted tax rate is 26%.

The objective is to prepare the Indigo's entry to record the effect of the loss carryback.

The Income Tax Refund Receivable = Taxable income(2018) × Tax rate(2018) + ( net operating loss - Taxable income(2018) ) × Tax rate(2018)

(332000 × 30%)+(476000-332000) × 30%

The Income Tax Refund Receivable = (332000 × 0.30)+(476000-332000) × 0.30

The Income Tax Refund Receivable = 99600 + 144000× 0.30

The Income Tax Refund Receivable = 99600 + 43200

The Income Tax Refund Receivable = 142800

Therefore, Indigo Corporation ENtry can be prepared as follows:

Account titles Debit Credit

Income Tax Refund Receivable 142800

Benefit Due to Loss Carryback 142800

To record the effect of the loss carryback

8 0

3 years ago

Recent regulation such as the Riegle-Neal Act of 1994 has removed some of the federal banking laws that formerly constrained pro

PIT_PIT [208]

Answer:

The correct answer is diversify geographically.

Explanation:

Diversification is one of the strategies most used by companies when it comes to expanding their market horizon. In this sense, diversifying is synonymous with expansion, growth, investment and openness.

In general, companies that are committed to diversification seek new market niches or commercial possibilities. This may be motivated by several reasons, ranging from corporate growth opportunities to the implementation of internal restructuring plans.

7 0

3 years ago