Answer: Price of bricks will increase
Explanation: Since Stone and bricks are substitutes to each other, a rise in the price of stone due to the new regulation will lead to a rise in the demand for bricks. Since bricks are now relatively cheaper as compared to stones after the price rise, people will use more bricks than stones. This will shift the demand for bricks to the right driving upwards the price for bricks and also increase the quantity of bricks being sold in the market.
Answer:
$116,161.616
Explanation:
Given that,
Total interest paid = $230,000
Time period = 30 year
Annual interest rate = 6.6%
Total interest on loan = Loan amount × Interest rate × Time period
$230,000 = Loan amount × 6.6% × 30 years
Loan amount:
= $116,161.616
Therefore, the loan amount is $116,161.616.
Answer:
![\left[\begin{array}{cccc}-&Budget&Variance&Actual\\IL&10,000&700&9,300\\IM&11000&-3,800&14,800\\Utilities&7,400&-2,400&9,800\\Maintenance&6,000&1,200&4,800\\Total \: Variable&34,400&-4,300&38,700\\Supervisor&35,400&0&35,400\\Depreciation&7,100&0&7100\\PT and insurance&7,700&-600&8,300\\Maintenance&6,000&0&6,000\\Total \: Fixed&56,200&-600&56,800\\Total \: MO&90,600&-4,900&95,500\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D-%26Budget%26Variance%26Actual%5C%5CIL%2610%2C000%26700%269%2C300%5C%5CIM%2611000%26-3%2C800%2614%2C800%5C%5CUtilities%267%2C400%26-2%2C400%269%2C800%5C%5CMaintenance%266%2C000%261%2C200%264%2C800%5C%5CTotal%20%20%5C%3A%20Variable%2634%2C400%26-4%2C300%2638%2C700%5C%5CSupervisor%2635%2C400%260%2635%2C400%5C%5CDepreciation%267%2C100%260%267100%5C%5CPT%20and%20insurance%267%2C700%26-600%268%2C300%5C%5CMaintenance%266%2C000%260%266%2C000%5C%5CTotal%20%5C%3A%20Fixed%2656%2C200%26-600%2656%2C800%5C%5CTotal%20%5C%3A%20MO%2690%2C600%26-4%2C900%2695%2C500%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Explanation:
We list them and subtract budget - actual
When actual is greater than budget the variance is negatine.
While budget being lower than actual is considered a positive variance.
Answer:
Limited Supply of lawyers will lead to increase in Lawyer Wages / Salaries
Explanation:
Labour Markets are at equilibrium where : Labour Demand (by firms) = Labour Supply (by employees).
Analysing the labour market for Lawyers : Previous anticipations finally leading to small graduating classes & limited supply of lawyers. This limited supply creates excess demand of lawyers. The mismatched excess demand (by firms) creates competition among buyer firms, which leads to increase in price (wages or salaries) of lawyers.
Answer:
Option (a) is correct.
Explanation:
Given that,
Annual revenues = $137,800,
variable costs = $82,600
Fixed costs = $11,000
Annual depreciation = $23,500
Tax rate = 34 percent
Annual Income before Taxes:
= Annual revenues - Variable cost - Fixed Costs - Depreciation
= $137,800 - $82,600 - $11,000 - $23,500
= $20,700
Net income:
= Annual Income before Taxes × ( 1 - T)
= $20,700 × 0.66
= $13,662
Annual operating cash flow:
= Net income + Depreciation
= $13,662 + $ 23,500
= $37,162
