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2 years ago

B. At one time, the centrally planned economy of China encouraged farmers to produce

Business

1 answer:

gladu [14]2 years ago

3 0

Answer:

At one time, the centrally planned economy of China encouraged farmers to produce iron in their backyards, rather than have factories make iron. This proved unsuccessful, since most of the farmers' iron was of poor quality. Why do you think this approach was unsuccessful? How could this experiment become a success in a free market economy?

The reason why the approach whereby farmers make iron in their backyard could not work out is as a result of not being inclined in that market as they are only skilled in agriculture, also they do not understand the rhetorics of the business.

The experiment would be a success in a free market as anyone is allowed to sell such product, this gives room for competition and helps to price reduction which is good for the consumers, also it would help in improvement of such product's quality because of competition involved

Explanation:

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ZImmerman Company supplies schools with floor mattresses to use in physical education classes. Zimmerman has received a special

Crank

Answer and Explanation:

(a)

Reject Order

Revenues$ -0-

Cost of Goods Sold-0-

Operating Expense-0-

Net Income$ -0-

Accept order

Revenues$27,000

Cost of Goods Sold $18,900

Operating Expense $9,600

Net Income$ ($1,500)

Net income Increased (Decreased)

Revenues $27,000

Cost of Goods Sold ($18,900)

Operating Expense ($9,600)

Net Income$ ($1,500)

Variable cost of goods sold = $4,200,000 × 75% = $3,150,000.

Variable cost of goods sold per unit =

$3,150,000 ÷ 100,000 = $31.50

Variable cost of goods sold for the special order = 600 × $31.50 = $18,900.

Variable operating expenses = $2,000,000 × 70% = $1,400,000

Variable operating expenses per unit = $1,400,000 ÷ 100,000 = $14

Variable operating expenses for the special order = 600 × $14

= $8,400 + $1,200= $9,600

b)The incremental analysis shows that Gregg Company should not accept the special order reason been that the incremental costs exceed incremental revenues.

7 0

2 years ago

Read 2 more answers

An error in the ending inventory balance in Year 1 will also affect: (You may select more than one answer.)

Virty [35]

Answer:

A) Year 1 cost of goods sold

B) Year 2 cost of goods sold

D) Year 2 beginning inventory

Explanation:

A) Year 1 expense of merchandise sold : The Current year cost of Goods Sold is processed by deducting finishing stock from Opening Inventory and Purchases made during the year. So in the event that the completion stock isn't right, at that point the result of above calculation will not be right so the Year 1 expense of merchandise sold for example (Current year cost of Goods Sold) will be inaccurate.

D) Year 2 starting stock: year 2 starting stock is equivalent to year 1 completion stock. So on the off chance that off-base stock estimation is made at end of earlier year, at that point current year opening worth will be carried on as off-base.

B) Year 2 expense of merchandise sold: The explanation is same as ans q(i.e. Year 1 expense of merchandise sold) as off-base convey forward opening stock worth will bring about wrong calculation of cost of products sold for year 2.

6 0

1 year ago

Explain four benefits to the US food exporter of the data researched from secondary sources.

ELEN [110]

Answer:

- The data will be acquired faster

- The data will be acquired on a cheper price

- It offers different perspective

- Eliminate bias from self-made research

Explanation:

Secondary sources are a form of data that is created by people who are not directly involved in the event. They do not experience in the event nor involved in the initial experiment that contributed to the event.

The data will be acquired faster since the food exporter do not have to arrange the research themselves. This eliminate the need to purchase research equipment and hiring researcher workers, which will lead to lower cost.

Not only that, using secondary sources will allow them to analyze the data from a neutral position. They do not developed bias that might come from making a conclusion by their own. They could also easily gather similar data from different sources in order to measure the data's accuracy.

4 0

1 year ago

On January 1, Year 1, Abbott Company granted 92,000 stock options to certain executives. The options are exercisable no sooner t

Lilit [14]

Answer:

The amount of Compensation expense to Year 1 is $153,333.

Explanation:

Stock options granted 92000

X Fair value on date of grant 5

Total compensation expense 460000

Years 3

Compensation expense per year 1 53333

Therefore, The amount of Compensation expense to Year 1 is $153,333.

3 0

2 years ago

Permanent product measurement may be more accurate, complete, and continuous for all of the following reasons except: a. The obs

CaHeK987 [17]

Answer:

b. The behavior definitions are more precise.

Explanation:

The permanent product management refers to the real objects or output of that result from a behavior an example of the homework or the assignments done by the student.

A benefit associated with this measurement is that staff does not need to be present to observe the behavior. A drawback is that staff may not know the context of how the student engaged in the behavior.

8 0

2 years ago