Answer:
$55,500
Explanation:
The computation of the net realizable value after the write off entry is show below:
The credit balance in allowance with terms to bad debts is
= $4,500 - $4,000
= $500
Now the net realizable value is
= ($60,000 - $4,000) - ($4,500 - $4,000)
= $56,000 - $500
= $55,500
Hence, the same is to be considered
Answer:
$764,400
Explanation:
Given that,
Net income under variable costing = $772,200
Beginning inventories = 7,800 units
Ending inventories = 5,200 units
Fixed overhead per unit = $3
Net income under absorption costing:
= Net income under variable costing - [(Beginning inventories - Ending inventories) × Fixed overhead per unit]
= $772,200 - [(7,800 - 5,200) × $3]
= $772,200 - $7,800
= $764,400
Answer:
Protectionist.
Explanation:
Proponents of protectionist argue that allowing free trade will kill local industries and also make the country for dumping ground for cheaper foreign made goods.
They suggested imposition of heavy tariffs so as to protect local industries. Protecting local industries will create jobs for the unemployed thereby making them relevant to the society.
By imposing high tariffs, foreign companies producing those goods would pass the burden to final consumers in form of high prices hence discourage consumers from buying them. Few of those goods will then enter the country due to the heavy duty and low patronage.
Imposition of heavy tariffs will also generate more revenue for the government which will be used to financed basic infrastructures like housing, sewage system, electricity, etc.
Although proponents of free trade are of the opinion that there should be no restriction to trading among countries. They also suggested the removal of high tariffs from goods exported from other country.
The above seems good, yet the consequences outweigh the gain therein. For instance, removal of duty or tariff would result in revenue loss for the government hence unable to finance basic infrastructures. The country will also become dumping ground for imported goods because they will sold at lower price due to it's poor quality.
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