Answer:
at the time it receives a negotiable warehouse receipt for the bats.
Explanation:
Benson Bearing Company is selling bats to Textron inc. The bats are stored at an independent warehouse not controlled by Benson Company.
Of the contract states that Textron will pick up the bats at the warehouse, the risk of loss passes to Textron when it recieved a negotiable warehouse reciept for the bats.
This is because the warehouse is not controlled by Benson Company and issuing a warehouse reciept is equivalent to delivering the goods to Textron.
Solution :
c. MC=MR is the profit maximizing equilibrium point. The price rise beyond that is likely to raise the total revenue. But the total cost might increase equally or more then that to nullify or decrease the profit.
d. (i). The demand increase implies that the AR (demand) curve shifts rightwards. This will increase the equilibrium price.
(ii). Change in demand does not affect the total cost.
a. Monopoly might continue to produce in short earn even if its AR < AC. It continues to do so until shut down point. It refers that production continued until average revenue (AR) is greater than equal to the average variable cost (AVC). The monopoly is a market with a single seller.
This market's average revenue (AR) demand curve is above its marginal curve . The curves are downward sloping, illustrating price demand inverse relationship.
Equilibrium quantity : when the marginal revenue = marginal cost
Equilibrium price : equilibrium quantity corresponding price at AR (demand ) curve.
Answer:
The correct answer is B: the jobs produced during the period have been under-costed
Explanation:
Giving the following information:
If manufacturing overhead has been under-allocated during the period, then which of the following is true?
(a) the jobs produced during the period have been over-costed
(b) the jobs produced during the period have been under-costed
(c) the jobs produced during the period have been costed correctly
(d) none of the above
When manufacturing overhead has been under-allocated means that the actual costs incurred where superior that the estimated cost for the period.
Answer:
The sales tax is regressive with respect to income
Explanation:
sales tax by Jennifer = 0.1*30000
= 3000
tax/income = 3000/50000
= 6%
sales tax by steve = 0.1*27000
= 2700
tax/income = 2700/30000
= 9%
The tax increases with decrease in income, it indeed is regressive on the whole.
Therefore, The sales tax is regressive with respect to income
Answer: $93,000
Explanation:
Flare Co. manufactures textiles. As such the direct labour should be those directly involved in the Manufacturing of these textiles and all others will be considered Indirect Labour.
Looming refers to the weaving of fabric meaning therefore that it is directly related to the Manufacturing of textiles.
Factory Foremen only supervise the activities of the factory and so are not directly involved and Machine Mechanics ensure that machines are running smoothly and so are not directly involved either.
Indirect labor for 2016 is therefore,
= Factory Foremen + Machine Mechanics
= 54,000+ 39,000
= $93,000
