Answer:
what must be sacrificed in using a resource for its next-best use
Explanation:
The market cost would be managed by the clients also it would remember the advantage that is best Also it is remembered in order to support the satisfaction to their own decisions.
So in the case of the market system, the allocation of the scarcity goods would be based on the opportunity cost i.e. to be sacrificed for the next best usage
Option D. The size of the market
This is because they have an idea that with a larger market size the can gain economies of scale and make a larger profit.
Answer:
Task A:
Cost of goods sold = $621,000
Task B:
The LIFO layer liquidation effect is to increase the income by <u>$16,500</u>.
Explanation:
<h2>
The workings are attached as follows:</h2>
Answer:
Explanation:
The journal entry is shown below:
Depletion expense A/c Dr $475,333
To Accumulated depletion A/c $475,333
(Being depletion expense is recorded)
The computation is shown below:
= Cost of oil well ÷ number of barrels hold × number of barrels extracted
= $1,782,500 ÷ 150,000 × 40,000
= $475,333
Simply we debited the depletion expense account and credited the accumulated depletion account
