Answer:
A. Money left over after taxes are paid - Disposable income
B. Quantity theory of money helps explain the shape of this - Real
C. Part of GDP s definition that captures the quality of goods and services - Market Value
D. Caused by a fall in the money supply - Final
E. Part of GDP s definition that means you exclude used goods and services - Real
F. Sticky prices/wages justifies its shape - Final
G. Part of GDP s definition that means you exclude intermediary goods and services - Market Value
H. Used to make loans - Excess reserves
I. Used to cover withdraws - Disposable income
J. Interest rates are at their lower bound - Real
K. Represents the economy s fundamentals, such as population, capital, and technology - LRAS
L. Adjusted for inflation Final
M. Caused by a collapse of the stock market - Market Value
Explanation:
Long run aggregate supply is adjusted based on the products produced in the country. The supply rate is also adjusted based on demand factor. GDP is the monetary value of all goods and services produced in the country during a certain period.
Given the data in the problem, we can calculate the cost of production for each bucket:
one bucket requires:
500 grams of plastic and one-half hour of direct labor.
The plastic costs $10.00 per 500 grams and the employees are paid $15.00 per hour.
Therefore, one bucket costs (material and labor):
$10.00 + $15.00 * (1/2 hour) = $17.50 per bucket plus (1.10 * $7.50) = $25.75
for 380 buckets :
$25.75 * 380 = $9785
This value only represents the cost of production of 380 buckets for the month of March. <span />
Answer:
The entries are as follows
To record estimated returns on Sales
Debit: Sales Refund Payable Account $131,400
Credit: Accounts Receivables $131,400
To record estimated Cost of Sales returns
Debit: Inventory Returns Estimated Account $77,700
Credit: Inventory on Sales on Returns $77,700
Explanation:
To derive the figure for Sales Refund payable for the year
6% of $2,190,000
= 
= $131,400
To derive the figure for Inventory cost on Sales Refund payable for the year
6% of $1,295,000
= 
= $77,700
Answer:
1. C)Unknown
2. C)Unknown
Explanation:
The company wants to disengage staff based on seniority but does not state of it is the highest ranking or lowest ranking that will go
So if we assume the two lowest ranking staff are to be let go.
From the scenario above Fred is more senior than Cheryl and Sue, so he must be 1st or 2nd.
To determine if Mike is to be terminated, he is senior to Cheryl. If Cheryl is 4th then Mike can be 3rd and will go. If Cheryl is 3rd then Mike can be 1st or 2nd and will stay. There is no way to determine Mike's rank from the data given.
To determine if Sue will go, Fred is more senior to Sue. So if Fred is 1st Sue can be 2nd and stay. However Sue can be 3rd or even 4th and still satisfy the conditions. So in this case also we cannot determine if Sue will be laid off with the data given.
Answer:
Please see answers below
Explanation:
1. Direct labor costs = wages paid to labourers
= $84,200
2. Manufacturing overhead costs = Factory rent + indirect production labor + utilities for factory + production supervisor's salary + factory insurance + depreciation on factory equipment
= $28,300 + $1,900 + $30,600 + $30,800 + $13,700 + $27,400
= $132,700
3. Prime cost = Direct labor + Direct material
= $84,200 + $35,600
= $119,800
4. Conversion cost = Direct labor + Manufacturing overhead
= $84,200 + $132,700
= $216,900
5. Total manufacturing cost = Direct labor + Direct material + Manufacturing overhead
= $84,200 + $35,600 + $132,700
= $252,500
6. Period expense = Company advertising + Depreciation for president vehicle + President's salary + Sales commission
= $20,200 + $8,190 + $61,100 + $7,530
= $97,020
