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2 years ago

2. Individuals, businesses, and governments make economic decisions by considering two important

1 answer:

7 0

The two important factors individuals, businesses, and governments must consider when making economic decisions are external resources and internal choices.

<h3>What are economic decisions?</h3>

Economic decisions are value-driven decisions in a world of limited resources or scarcity and unlimited wants.

To make effective economic decisions, choices must favor the decision-maker. Making choices involves taking into account many variables to help to reach effective conclusions.

Economic decisions for limited resources focus on:

Production
Distribution
Exchange
Consumption
Savings
Investments.

For example, an individual seeks employment to earn money to satisfy their needs.

Thus, the two important factors when making economic decisions are external resources and internal choices.

Learn more about making economic decisions at brainly.com/question/5136048

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Frank Town Farms has sales of $481,600, costs of $379,700, depreciation expense of $32,100, and interest paid of $8,400. The tax

Vinvika [58]

Answer:

net income = $41752

so correct option is A. $41,752

Explanation:

given data

sales price = $481,600

costs price = $379,700

depreciation expense = $32,100

interest paid = $8,400

The tax rate = 32%

to find out

net income did the firm earn for the period

solution

we get here net income that earn for the period is express as

net income = ( sales price - costs price - depreciation expense - interest paid ) × ( 1 - tax rate ) ......................... 1

put here value we get

net income = ( $481,600 - $379,700 - $32,100 - $8,400 ) × ( 1 - 32% )

net income = $41752

so correct option is A. $41,752

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3 years ago

Sofia bought a couch that required a $60 down payment and $60 per month for the next eight months. Which type of liability does

Anna35 [415]

Answer should be d) a current liability

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3 years ago

The cost to manufacture one unit of Rinker Audio Products' bestselling hearing aid, the Magnifier, is $87.50. The CFO of the com

padilas [110]

Answer:

d. economies of scale

Explanation:

Based on the information provided within the question it can be said that this concept is known as an economy of scale. Like mentioned in the question this concept states that as a company scales their operation, the cost of each input unit decreases as their output or production increases, Thus granting the company a cost advantage. As is happening in this scenario.

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3 years ago

On April 1, Sangvikar Company had the following balances in its inventory accounts:

noname [10]

Answer:

DR Raw Material Inventory $30,000

CR Accounts Payable $30,000

DR Work in Process Inventory $33,900

CR Raw Material Inventory $33,900

Working

= Job 114 + Job 115 + Job 116

= 16,500 + 12,400 + 5,000 = $33,900

DR Work in Process $‭7,430‬

CR Wages Payable $‭7,430‬

Working

= (150 * 15) + (220 * 17) + (80 * 18)

= $‭7,430‬

DR Work in Process $‭4,458‬

CR Manufacturing Overhead $‭4,458‬

Working

Overhead as % of Direct labor cost using Job 115 = Applied Overhead / Direct labor = 936/1,560 = 60%

Manufacturing Overhead = Overhead rate * Direct labor

= 60% * 7,430 = $‭4,458‬

DR Manufacturing Overhead $4,765

CR Accounts Payable $4,765

DR Finished Goods $‭23,520‬

CR Work in Process $‭23,520‬

Job 115 costs = Beginning + Material + Labor + Overhead

= (2,640 + 1,560 + 936) + 12,400 + (220 * 17) + (220 * 17 * 60%)

= $‭23,520‬

DR Cost of Goods sold $‭23,520‬

CR Finished Goods $‭23,520‬

DR Accounts Receivable $‭32,928‬

CR Cost of Goods sold $‭32,928‬

Working

= ‭23,520‬ * 140%

= $‭32,928‬

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3 years ago

The accountant for Mandarin Company is preparing the company's statement of cash flows for the fiscal year just ended. The follo

Inessa05 [86]

Answer:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

Explanation:

The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

<u>Dividends payable a/c</u>

<u>Particulars Amount Particulars Amount</u>

Balance b/d $ 13,000

Dividend paid (Cash) $ 54,500 Dividend declared $57,000

Balance c/d $ 15,500

$ 70,000 $ 70,000

Therfore, The amount of cash dividends paid that should be reported in the financing section of the statement of cash flows = $ 54,500

8 0

3 years ago