Answers
To fix the dangler, you could revise the sentence as follows: Filled with cream, covered in chocolate frosting, and dusted with sprinkles, this cupcake is to be enjoyed.
What is a dangling modifier?
A clause or phrase that modifies one or more words but is not logically and clearly linked to those words is known as a dangling modifier (i.e. is placed next to). Regarding dangling adjectives, two points: A dangling modifier, unlike a misplaced modifier, cannot be fixed by merely moving it to a different location in the sentence.
False: They purchased a kitten for my sibling that they have named Shadow. True: They got my sibling a kitten they call Shadow. The brother's name appears to be Shadow in the incorrect statement. This is due to the modifier's distance from the term it modifies—kitten—being too great.
To learn more on dangling modifier from the link:
https://brainly.com/question/13772808
#SPJ1
Related Questions
select a business from any of three business sectors
Answers
A business from any three business sectors is industry. Businesses clearly differ in what they do.
Businesses are frequently classified according to their industry or sector. An industry is a group of businesses which are related in terms of their primary activity, such as car manufacturing or grocery sales. Smaller industries (such as car manufacturing) can be grouped to larger industry sectors (such as the manufacturing sector in general). An individual business is classified as belonging to a specific industry based on its primary activity.
As a result, this company would be classified as belonging to the automobile manufacturing industry rather than financial services.
Learn more about business, here:
https://brainly.com/question/15826679
#SPJ1
Use the formula Profit=Revenue-Expenses and think of a business. Write a paragraph about how you will make revenues for your business. What your expenses will be. Then figure out your Profit.
hurry pls
Answers
Answer:
Profit concept explanation, with example of a coaching institute.
Explanation:
The business considered is of a coaching institute.
Its revenue is the fee earned by students studying in the institute.
The cost is fixed cost of set up, variable cost on electricity, mantainence & other miscellaneous expenses.
Profit = Total Fee received from all the students - Total cost of fixed & variable factors.
Eg : Fee per student = 1000, 10 students. Fixed cost = 2000, Variable cost = 1000
Profit = 1000 (10) - 2000 - 1000
= 10000 - 3000 = 7000
M Corp. has an employee benefit plan for compensated absences that gives each employee 15 paid vacation days. Vacation days can be carried over indefinitely. Employees can elect to receive payment in lieu of vacation days. At December 31, 2021, M's unadjusted balance of liability for compensated absences was $28,200. M estimated that there were 200 total vacation days available at December 31, 2021. M's employees earn an average of $141 per day. In its December 31, 2021, balance sheet, what amount of liability for compensated absences is M required to report
Answers
Answer: $28,200
Explanation;
There are 200 vacation days available as at December 31, 2021.
The liability compensated absences will be the amount that M Corp. owes employees should they take those 200 vacation days.
= 200 * 141 per day
= $28,200
Help with my Project
Answers
An organizational structure is a framework that describes how certain tasks must be carried out in order to accomplish an organization's objectives.
Positions, guidelines, and obligations may be part of these activities. How information is transmitted across layers is also determined by an organization's organizational structure.
It is comparable to the line structure, except here the staff advises, offers ideas, produces reports, approves, and supports the organization. Regulatory agencies, legal firms, insurance companies, and law firms are a few examples of this type of organizational structure.Through the effective coordination of all operations, an effective organizational structure helps each individual realize their goals. decreases the total conflicts between team members and individuals. It eliminates overlap and redundant effort. Runarounds are less likely as a result. Because it directs your company to provide value to a market, the organizational structure is crucial. The series of high-level operations that best describes your primary value-creating process is known as your organization's value chain. It involves putting competitive strategy into practice.To learn more about organizational structure:
https://brainly.com/question/23967568
#SPJ1
Suppose a firm produces two products, X and Y. The firm earns revenues from X equal to $70,000 and revenues from Y equal to $60,000. The own price elasticity of demand for X is -1.5 and the cross-price elasticity of demand between X and Y is -0.80. If the firm decreases the price of product X by 1%, the change in total revenues will be ______________ $
Answers
Answer:830
Explanation:
simply follow the demand fomula and plug variables into desired location.
If the firm lowers the price of product x by 1%, the change in the total revenues will be $-34520
What is price elasticity of demand?The degree to which a commodity's quantity desired is responsive to a change in its own price is known as own price elasticity of demand. For commodity x, this is stated as -1.5 in the question.
The level of responsiveness of the quantity required of the first commodity to a change in the price of the second commodity is known as the cross-price price elasticity of demand between any two commodities. This is specified in the question as -0.8 for the range of commodities x and y.
As per the given data, calculation is as follow:
ΔTR = [(rx * (1 + ex)) + (ry * cexy)] * Δpx ..................... (1)
ΔTR = Change in the total revenues = ?
rx = revenues from x = $70,000
ex = own price elasticity of demand for x is = -1.5
ry = revenues from y = $60,000
cexy = cross price elasticity of demand between x and y = -0.8
Δp = Change in the price of product x = -1%
Substituting the values into equation (1):
ΔTR = [( 70,000 * (1 + (-1.5 ))) + (60,000 * (-0.8)] * (-1%)
ΔTR = (70000 * -0.5) + (60,000 * -0.8) * -0.01
ΔTR = -35,000 + (-48000)*-0.01
ΔTR = -35000+480
ΔTR = -34520
Therefore, if the firm lowers the price of product x by 1%, the change in the total revenues will be $-34520
Learn more about price elasticity of demand here:
https://brainly.com/question/20630691
#SPJ2
Troy Juth wants to purchase new dive equipment for Underwater Connection, his retail store in Colorado Springs. He was offered a $63,000 loan at 8.5% for 24 months. What is his monthly payment by table lookup? (Use Table 14.2)
Note: Round your answer to the nearest cent.
Answers
If he was offered a $63,000 loan at 8.5% for 24 months. His monthly payment by table lookup is : $3071.
What is monthly payment?Monthly payment can be defined as the amount a person received on a monthly basis.
First step is to convert the month to year
Month to year = 24 / 12
Month to year = 2 years
Second step is to find the interest using this formula
I = P × R×T
Where:
I = Interest
P = Principal
R = rate
T = time
Hence
I = 63,000 × 2 × 8.5%
I = 10,710
So,
P+ I = 63,000 + 10,710
P+I = 73,710
Now let find the monthly payment:
Monthly payment = 73,710 / 24 months
Monthly payment = $3,071.25.
Monthly payment = $3,071 (Approximately)
Therefore the monthly payment is the amount of $3071
Learn more about monthly payment here: https://brainly.com/question/25599836
#SPJ1
Many businesses borrow money during periods of increased business activity to finance inventory and accounts receivable. For example, Mattel builds up its inventory to meet the needs of retailers selling to Christmas shoppers. A large portion of Mattel's sales are on credit. As a result, Mattel often collects cash from its sales several months after Christmas. Assume on November 1, 2018, Mattel borrowed $6 million cash from Metropolitan Bank and signed a promissory note that matures in six months. The interest rate was 8.0 percent payable at maturity. The accounting period ends December 31.
Required:
1, 2 & 3. Prepare the required journal entries to record the note on November 1, 2018, interest on the maturity date, April 30, 2019, assuming that interest has not been recorded since December 31, 2018
Answers
Answer:
1. Nov 1, 2018
Cash 6,000,000
Notes Payable (short-term) 6,000,000
2. Dec 31, 2018
Interest Expense 80,000
Interest Payable 80,000
3. Apr 30, 2019
Notes payable (short-term) 6,000,000
Interest Payable 80,000
Interest Expense 160,000
Cash 6,240,000
Explanation:
1. $6,000,000 cash Mattel acquired from Metropolitan Bank for signing a short-term note (matures in six months).
2. 6,000,000 x .08 x 2/12 = 80,000
2 months (Nov and Dec) time that Mattel accrued $80,000 worth of interest.
3. The note was signed for 6,000,000.
Interest payable is the amount that was accrued from the last year, but hasn't been paid yet for $80,000.
Interest expense is the interest amount that is from the current year and is being repaid for $160,000.
Cash is the total (the principal payment and the interest) that Mattel is paying the bank back for borrowing for $6,240,000.
The journal entries of the given case are given in the image below.
What is journal entry?Journal entry is the systematic record of the accounting transactions that is commenced under the usual business in cash. It is the financial transactions.
It is also referred to as the primary accounting procedure, means the financial statement is prepared on the basis of journal entry.
Computation of the amount of journal entry:
On November 2018, the amount of $6,000,000 cash Mattel grown from Metropolitan Bank for signing a short-term note that matures in 6 months.
On December 31, 2018, Mattel accrued $80,000 worth of interest, means :
\(= \$6,000,000 \times .08 \times \dfrac{2}{12} \\= \$80,000\)
Then the amount of Cash is the total, means the principal payment and the interest is that Mattel is paying the bank back for borrowing for $6,240,000 ( \(\$6,000,000 + \$80,000 + \$160,000\)).
Therefore, the journal entries of the above transactions are given in the image below.
Learn more about the journal entry, refer to:
https://brainly.com/question/17439126
ABC purchased equipment for $60,000 on January 1, 2018. The equipment is expected to have a five-year life, with a residual value of $5,000 at the end of five years. Using the straight-line method, depreciation expense for 2019 and the book value at December 31, 2019 would be:
Answers
Answer:
Depreciation expense - 2019 = $11,000
Book Value - 2019 = $38,000
Explanation:
Straight Line method charges a fixed depreciation charge as :
Depreciation Expense = (Cost - Residual Value) ÷ Useful Life
therefore,
Depreciation expense = $11,000
Book Value = $60,000 - $11,000 - $11,000 = $38,000
Complete the sentence about the most important parts of an email. Before sending an email, you must include the email addresses of one or more recipients in the address box and mention the topic of the mail in the box
Answers
Before sending an email, you must include the subject line of the email addresses of one or more recipients in the address box and mention the topic of the mail in the box.
Email, often known as electronic mail, is the process by which one user sends one or more recipients computer-stored communications through the internet. Emails are a convenient, quick, and affordable means of communication for both personal and professional purposes. If a user has an internet connection, which is normally provided by an internet service provider, they can send emails from any location.
Email can be sent and received between many computer networks, most notably the internet, but it can also be sent and received through both public and private networks, such as a local area network. Both lists of persons and single recipients can receive emails. Using an email reflector, one can control a common distribution list. In order to subscribe to some mailing lists, users must submit a request to the mailing list administrator.
Learn more about email here:
https://brainly.com/question/14666241
#SPJ1
Double declining balance
Answers
The double-declining balance method is an effective way to depreciate assets in the early years of their useful life and reduce the balance of the asset more quickly than the straight-line method. This helps companies to account for the asset's cost more accurately over time and to recognize its diminishing value as it ages.
Double-declining balance method is a method of depreciation that is an accelerated method.
The depreciation rate is twice as much as the straight-line method's depreciation rate.
This method begins with an asset's value at the beginning of its use and then decreases at a constant rate throughout its useful life until it reaches the asset's salvage value.
This depreciation method is most commonly used for assets that depreciate quickly at the beginning of their useful life and then slowly depreciate over time until they are scrapped or sold.
Assets such as computers, vehicles, and machinery are common examples of assets that use this method of depreciation.
Double-declining balance method can be calculated using the following formula:Annual depreciation = (2 / useful life in years) * book value at the beginning of the yearOrDepreciation rate = 2 / useful life in years.
For more such questions on depreciate
https://brainly.com/question/29894489
#SPJ8
income already earned but not yet recieved
Answers
02. Which of the following is not a general management function during staffing? (a) Employee training and development (b) Employee performance appraisal (c) Development of employee according to expertise (d) Follow-up by the manager who delegated the responsibility
Answers
Development of employee according to competence is not a generic management function during staffing.
What are the four objectives of performance reviews?y identifying employees' skills and weaknesses, put the right people in the right jobs. to maintain and assess a person's capacity for growth. to provide employees with feedback on their work and pertinent status.
What do supervisors often concentrate on the given statement?Managing a team is one of a supervisor's most crucial responsibilities. Supervisors frequently organise and lead the team's efforts to finish a task. Supervisors are responsible for setting goals, communicating them, and assessing team performance in which we describe everything.
To know more about management visit:-
https://brainly.com/question/29023210
#SPJ1
In a market for chemicals, the demand function is P = 200 - Q. The private marginal cost for the chemicals producers is MCP = 50+ Q. Pollution generated during the production process causes external marginal cost for the society equal to MCE = 3Q.
(a) What specific tax would result in a competitive market producing the socially optimal quantity of chemicals?
(b) Instead of taxation, what else can the government do to make sure that the market will work itself out to achieve the socially optimal output?
Answers
(a) To achieve the socially optimal quantity of chemicals in a competitive market, the tax should be equal to the external marginal cost imposed on society. In this case, the external marginal cost is MCE = 3Q. Therefore, the specific tax should be set equal to the external marginal cost:
Tax = MCE = 3Q
Substituting the demand function into the tax equation, we have:
Tax = 3(200 - Q)
Simplifying:
Tax = 600 - 3Q
This tax would align the private marginal cost (MCP) with the social marginal cost (MCE) and result in the market producing the socially optimal quantity of chemicals.
(b) Alternatively, the government can implement a cap-and-trade system or establish regulations to limit pollution emissions. In a cap-and-trade system, the government sets a limit (or cap) on the total amount of pollution allowed in the market. It then issues a corresponding number of pollution permits that companies can buy and sell. This system encourages companies to reduce their pollution emissions by creating a market incentive.
By implementing such measures, the government ensures that companies internalize the cost of pollution and take actions to reduce it. This helps the market work towards achieving the socially optimal output by incentivizing firms to reduce pollution and minimize the negative externalities associated with chemical production.
Learn more about external marginal cost and private marginal cost here:
brainly.com/question/28319559
#SPJ11
Explain the role of secondary data in gaining customer insights
Answers
If the central bank raises the required reserve ratio, the money multiplier and the money supply will change in which of the following ways?Money Multiplier / Money Supply (A) Increase / Increase(B) Increase / Decrease (C) Increase / No change(D) Decrease / No change (È) Decrease / Decrease
Answers
(Option B) Increase / Decrease. When the required reserve ratio is increased by the central bank, it reduces the money multiplier, which is the ratio of money supply to the amount of reserves.
Will a higher reserve ratio affect money multiplier & supply?Option B. Increase / DecreaseThe required reserve ratio is the amount of reserves that banks must hold against deposits. When the central bank increases the required reserve ratio, it reduces the amount of money banks can lend for each unit of reserves held. This, in turn, reduces the money multiplier, which is the ratio of money supply to the amount of reserves.
As a result, the money supply decreases despite the increase in the required reserve ratio. In other words, the money supply decreases when the required reserve ratio is increased, creating a decrease / increase dynamic.
Learn more about Economics: https://brainly.com/question/17996535
#SPJ4
 17 What is the share price when the price-to-earnings (P/E) multiple of a comparable company is 6.5
Answers
If the P/E ratio is 6.5 the share price of the company can be determined if the earnings per share or the total earnings and the total number of shares of a company.
What is Share Price?Share price is the price quoted in the market for the exchange of 1 share of the company. Company have a large number of ordinary shares, which is circulated in the stock market where the shares are purchased by individuals.
If the Earnings per share ratio is available the share price can be determined as the P/E ratio is Price over Earnings ratio.
Share Price is divided by the Earnings per share to calculate the P/E ratio which is 6.5 in the given question.
The price should be considered as x and the earnings per share to be multiplied by the P/E ratio that is 6.5.
Learn more about Share Price at https://brainly.com/question/27175709
#SPJ1
The average transaction at a single channel, single phase checkout stand can be completed in 5 minutes and customers arrive at the average rate of one every 4 minutes. On average, what is the server utilization? (Choose the closest answer.)
a. 0.25
b. 1.25
c. 0.63
d. 0.80
Answers
If the average transaction at a single channel, single phase checkout stand can be completed in 5 minutes and customers arrive at the average rate of one every 4 minutes then the server utilization is 0.8.
Are you paying for the transaction?A transaction is a contract made between a buyer and a seller. In a transaction, the seller offers products, services, or other financial assets in return for money in the form of currency. A business's ability to generate consistent income and manage cash flow depends on its ability to conduct financial transactions.
A cash transaction is what?A cash transaction is when you pay for something with cash right away. A few days may pass before the trade settles, yet some market stock transactions are still regarded as cash transactions. Futures contracts are not thought of as cash transactions.
To know more about Transaction visit:
https://brainly.com/question/24730931
#SPJ1
Question 2. (6)
Briefly explain why Investors, Competitors and Suppliers take interest in
accounting information related to a business. (Please include examples)
Answers
Answer:
They like googIe
Explanation:
Which of the following does someone using fundamentals analysis look at
when analyzing a particular stock?
A. How socially responsible the company's practices are
B. A company's traits such as revenues and earnings per share
C. Overall trends in the market such as bull and bear markets
D. The difference between earnings and interest rates
Answers
Answer:
U.S. increases sugar import quota by 90,100 tonnes
Explanation:
U.S. increases sugar import quota by 90,100 tonnes: The U.S. Trade Representative also said it would allow this additional volume to enter the country up to Oct. 31, a month later than usual. The U.S. fiscal year ends at the end of September. #accelerationism
Answer:
B. A company's traits such as revenues and earnings per share.
Explanation:
took the test and got it wrong. this was the correct answer shown
Outsourcing can give short term
Answers
Short-term outsourcing is available and may provide you quick fixes and immediate resolutions, you have to see outsourcing as a business partnership that can last beyond a decade. Quick fixes, after all, are incapable of producing long-term rewards.
A company function or any particular business activity may be outsourced to specialist organizations. The corporation often outsources the non-core functions like sanitization, security, home, pantry, etc. The business and the agency enter into a legal contract.
The necessary personnel are then provided to the firm by the agency. The agency bills the business for their services and reimburses them by paying their workers' salaries. Outsourcing is on the rise as a result of global competition. Companies may enhance their profitability and improve the quality of their products by concentrating on their core competencies with the aid of outsourcing.
To know more about outsourcing visit:
https://brainly.com/question/14202035
#SPJ9
Wisdom Toys has budgeted sales and production over the next quarter as follows: Unit Sales Production September 43,000 44,400 October 50,000 52,800 November 64,000 61,200 The company requires that 20% of the next month’s sales in units are on hand at the end of each month. December sales are expected to be 50,000 units. How many video games are in inventory at October 31?
Answers
Answer:
$12,800
Explanation:
This can be calculated as follows:
November sales in unit = 64,000
Since Wisdom Toys requires that 20% of the next month’s sales in units are on hand at the end of each month, we have:
Number of video games in inventory at October 31 = November sales in unit * 20% = 64,000 * 20% = 12,800
Therefore, 12,800 video games in inventory at October 31.
The study of economics is nothing but the study of a tree and a forest. Discourse with respect to branches of economics
Answers
The study of economics involves the examination of individual components represented by branches and the analysis of the broader system represented by the forest.
How does the study of economics relate to a tree and a forest?Just as a tree consists of various branches that connect and support each other, the study of economics comprises different branches that explore specific aspects of the economy. These branches including microeconomics, macroeconomics and international economics focus on understanding and analyzing elements of economic behavior and systems.
The interplay between the various branches of economics contributes to comprehensive understanding of how individual economic decisions and activities collectively shape the broader economic system. By studying both the branches and the forest, economists can gain insights into the intricate relationships.
Read more about economics
brainly.com/question/17996535
#SPJ1
"A $10,000 municipal bond with 10 years to maturity is purchased in the primary market at 105. The bond is sold after 4 years at 105. The taxable gain or loss is a:"
Answers
Answer:
2 point capital gain
Explanation:
Every municipal bond that is purchased at premium is subject to straight line depreciation, whether the premium be trading premium or original issue premium.
Here the premium is 5 points = 105 - 100
Which shall be amortised over its useful life of 10 years.
Thus, for each year 1/2 point is amortised without allowing any tax deduction.
Thus, after 4 years total amortisation = \(\frac{1}{2} \times 4years = 2\)
Thus, value at end of year 4 = 105 - 2 = 103 basis point.
Further the selling amount = 105 basis point.
Thus, 105 - 103 = 2 basis point shall be taxable.
The annual interest rate on a credit card is 17.99%. If a payment of $200.00 is
made each month, how many months will it take to pay off an unpaid balance of
$2,470.04?
Answers
Answer:
It would take a total of 14.572001 Months to pay off the balance, with interest
Explanation:
$2470.04 Would take 12.6 months to pay off, therefore, you must apply 17.99% yearly interest to this figure.
$2470.04 * .1799 = $444.36 interest
Principal + interest = total
$2470.04 + $444.36= $2914.4
$2914.4 / $200 = 14.57 months
1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.
Answers
1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.
This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.
In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
For more such questions on opportunity costs
https://brainly.com/question/30191275
#SPJ8
"Viserion, Inc., is trying to determine its cost of debt. The firm has a debt issue outstanding with 15 years to maturity that is quoted at 106 percent of face value. The issue makes semiannual payments and has an embedded cost of 7 percent annually. What is the company's pretax cost of debt?"
Answers
Answer:
6.37 %
Explanation:
Debt in this case is represented by Bonds. The yield to maturity of a bond is the cost of debt. Yield to maturity is the interest rate used to determine Present Value of Coupons and Principle amount.
Most bond prices are expressed per $1,000. Therefore we will use this as the Face Value.
Pretax cost of debt calculation :
FV = $1,000
PV = $1,000 x 106 % = - $1,060
PMT = ($1,000 x 7 %) ÷ 2 = $35
N = 15 x 2 = 30
P/YR = 2
I/YR = ??
Using a financial calculator, the yield to maturity of the bond and hence the pretax cost of debt (i/yr) is 6.37 %
Match the following terms to the appropriate definition. ___ Applies when each member of an insurance pool :pays the same premium per person or per family for the same coverage. ___Occurs when insurance companies base premiums ; on past levels of payouts, which is often done in the case of car or homeowner's insurance. ___Refers to the phenomenon of a person's behavior being affected by his or her insurance coverage. ___ Exists when people with different hea'th-related amount of health insurance purchased.A. Community ratingB. Experience ratingC. Moral hazard D. Adverse selection
Answers
The claim that the insured person's coverage is not something that should be taken into account when picking a health care plan.
A "health care plan" is used to provide, deliver, coordinate, pay for, or reimburse any associated costs of health care services. This is because these items, among other things, pay for childcare services, medical treatment at a wide range of hospitals, pre- and post-hospitalization costs, and even your therapy for mental illness. With provisions like these, you wouldn't need to worry about a medical issue straining your budget. The right answer is therefore d, which refers to the coverage that the insured person and their family already have through their motor insurance. The set sum that an insured person must pay toward their insurance premiums is known as their copay. It also has a connection to the medical field.
Learn more about Health care plan here:
https://brainly.com/question/2834730
#SPJ4
Which of the following is a main reason to reconcile your own records or
check register with a bank statement?
A. To identify errors made by the bank
B. To set up automatic bill payment
C. To identify checks that have bounced
D. To have the bank cover your shortfalls
Answers
Explanation:
To identify errors made by the bank.
Northwest Fur Co. started the year with $92,000 of merchandise inventory on hand. During the year, $425,000 in merchandise was purchased on account with credit terms of 1/15, n/45. All discounts were taken. Northwest paid freight-in charges of $7,000. Merchandise with an invoice amount of $5,000 was returned for credit. Cost of goods sold for the year was $372,000. What is ending inventory
Answers
Answer:
$ 142,800.00
Explanation:
The ending inventory can be computed by rearranging the cost of goods sold formula:
cost of goods sold=Beginning inventory+net purchases-ending inventory
ending inventory=beginning inventory+net purchases-cost of goods sold
beginning inventory is $92,000
Net purchases=purchases-discount+freight-in charges-purchase return
net purchases=$425,000-($425,000*1%)+$7000-($5000*99%)=$422,800.00
cost of goods sold is $372,000
ending inventory=$92,000+$422,800-$372,000=$ 142,800.00
Your friend John works producing dress shirts and dress pants. Currently John can work a maximum of 8 hours per day. With the equipment he has, and the current level of expertise, he can finish either 2 shirts or 8 pairs of pants in an hour. This is true when he is performing at full capacity. Meaning doing the best possible work.
1. What is the maximum number of shirts he can make in a day? (10 points)
2. What is the maximum number of pants he can make in a day? (10 points)
3. What is the opportunity cost of making one pair pants (in terms of the amount of shirts he won't be able to make)? As an example, when you give up $20 dollars in exchange for 40 pencils, you can say that the “cost” per pencil was $0.50, because $20/40 = $0.50. (15 points)
4. What is the opportunity cost of making one shirt (in terms of the amount of pants he won't be able to make)? (15 points)
5. John's friend Anne, can make 2 shirts or 10 pairs of pants in an hour. Who has a lower opportunity cost of making shirts? In other words, who has a comparative advantage in the production of shirts? Explain your rationale (15 points)
6. Imagine now, that John and Anne are the only shirt and pants producers in their small town, how would you suggest that they spend their time at work to achieve the highest production of shirts and pants for the town? Explain your rationale. (15 points)
7. Imagine now, that John completes a training that doubles his capacity to make both shirts and pants per hour. a) What is the maximum number of shirts he can make in a day? b) What is the maximum number of pants he can make in a day? (15 points)
8. In 250 words, explain the relationship between comparative advantage and specialization. Support your answer with an example. (5 points)
Answers
To answer the questions provided, we must understand the concept of opportunity cost and comparative advantage and take the data into consideration.
John can make 16 shirts in day, that is, 2 shirts per hour worked, working 8 hours.Working 8 hours a day, John can make 64 pairs of pants, that is, 8 pairs per hour worked.The opportunity cost would be 0.25.The opportunity cost would be 4.Both John and Anne can make the same amount of shirts in an hour, so no one has a comparative advantage for the production of shirts.It would be best for them if Anne focused on making pants, since she can make more pants than John per hour. John would then focus on making shirts.a) John will make 32 shirts in a day, working 8 hours per day. b) John will make 128 pants a day, working 8 hours per day.Comparative advantage refers to being able to produce something at a lower opportunity cost than your competitors. Specialization, that is, the production of one specific product, can increase comparative advantage.What is opportunity cost?In economics, opportunity cost is what we do not gain, that is, what we miss from making a choice over another. If John chooses to use an hour to make 2 shirts, the opportunity cost refers to the pants that he will not make in that same hour.
Comparative advantage is related to who has a lower opportunity cost. Notice how Anne can make more pants than John in an hour. If she chooses to make shirts, she will be losing more than John. Thus, it is better for her to focus on making pants. John, on the other hand, should specialize in shirts, since his opportunity cost is lower.
Learn more about opportunity cost here:
https://brainly.com/question/481029
#SPJ1