given the following data, calculate the cost of ending inventory on 12/31/2018 using a periodic inventory system and a lifo cost flow assumption: 1/1 beginning inventory 50 units at $10 per unit 3/5 purchases 50 units at $12 per unit 5/30 purchases 40 units at $13 per unit 10/25 purchases 60 units at $14 per unit 12/31 ending inventory 35 units select one: a. $380 b. $490 c. $350 d. $420

Answers

Answer 1

The cost of the ending inventory on 12/31/2018 using a periodic inventory system and the LIFO cost flow assumption is $490.

To calculate the cost of ending inventory on 12/31/2018 using the LIFO (Last-In, First-Out) cost flow assumption in a periodic inventory system, we need to determine the cost of the most recent purchases first.

1/1 beginning inventory: 50 units at $10 per unit3/5 purchases: 50 units at $12 per unit5/30 purchases: 40 units at $13 per unit10/25 purchases: 60 units at $14 per unit

Since we are using the LIFO method, the cost of the most recent purchases will be used first to calculate the ending inventory.

First, let's calculate the cost of the most recent purchases:

60 units at $14 per unit = $840

Next, we need to determine the remaining units needed to reach the ending inventory of 35 units:

50 units (beginning inventory) + 50 units (3/5 purchases) + 40 units (5/30 purchases) = 140 units (total units available)140 units - 35 units (ending inventory) = 105 units (units sold)

To determine the cost of the ending inventory, we use the remaining units (35 units) and the cost of the most recent purchases ($840):

35 units (ending inventory) × $14 per unit (cost of most recent purchases) = $490

Therefore, the cost of the ending inventory on 12/31/2018 using a periodic inventory system and the LIFO cost flow assumption is $490. So the correct answer is b. $490.

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Related Questions

Price of Video Game Quantity Supplied

of Video Games Quantity Demanded

of Video Games
$50
0
500
$75
50
325
$100
200
200
$150
250
100
$200
400
0
In the supply-and-demand schedule shown above, at a price of $150, the quantity supplied of video games is _____ and the quantity demanded of video games is _____.

50, 325
250, 100
200, 200

Answers

Note that the equilibrium price as depicted in the supply-and-demand schedule for video games is $ 100.

What is the rationale for the above response?

To determine the optimal price for this task, one must first grasp the Law of Supply and Demand and its mechanics.

The supply of an item or service generates demand for the good or service, according to the Law of Supply and Demand.

In this example, the growth of the video game market increases demand for video games. Demand and supply interact according to price, which is how the law works. When the price is high, the demand is low and the supply is plenty. If the price is cheap, the amount given is small, but the quantity sought is large.

This makes perfect sense when you consider that the buyer wants to pay the least amount feasible for a product, while the provider wants to earn the most amount possible.

In this situation, price is the adjustment vector that causes demand and supply to interact. There will come a moment when demand and supply are equal, which means that the number of video game customers will be the same as the number of video games sold. At this time, we say that the market is in equilibrium, and the price is the equilibrium price.

It occurs in this exercise when the quantity asked equals the quantity delivered, both in 200. The equilibrium price at that time is $100.

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PLEASE SEND HELP ASAP

Planning for regional natural disasters at work is _______.
a.
good practice
b.
unnecessary
c.
too cautious
d.
unsafe


Please select the best answer from the choices provided

A
B
C
D

Answers

Answer:

A. good practice

Explanation:

planning for these disasters can help reduce damage,injuries,even death.

Answer:

A

Explanation:

Just in case something were to happen it would be good to know where to go and what to do. It can prevent deaths and injuries if the real thing were to happen.

an apartment building must have a resident property manager if the building has

Answers

An apartment building must have a resident property manager if the building requires on-site management for tasks such as property maintenance, tenant relations, and compliance with regulations.

An apartment building must have a resident property manager if the building has specific requirements or regulations that necessitate on-site management, such as maintaining the property, addressing tenant concerns, coordinating repairs and maintenance, ensuring compliance with local laws and regulations, and handling day-to-day operations.

Having a resident property manager offers several benefits for both the property owner and the tenants. The property manager can handle tenant screening and selection, lease agreements, rent collection, and tenant relations, ensuring a smooth and efficient rental process.

They can also address maintenance issues promptly, ensuring that the building is well-maintained and tenants' needs are met.

Additionally, a resident property manager can act as a point of contact for emergencies, security concerns, and general inquiries, providing a sense of security and convenience for the residents. They can also enforce property rules and regulations, handle disputes or conflicts among tenants, and maintain a safe and comfortable living environment.

Having a resident property manager is especially crucial for larger apartment buildings or complexes with a significant number of units. The scale and complexity of managing such properties require an on-site manager who can oversee the various tasks and responsibilities involved.

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Are purchase discounts always a debit?​

Answers

Answer:

Yes

Explanation:

because it is and of course its is ask googel

what is meant by recession

Answers

Answer:

Spatial recession in paintings is the relationship between objects which appear to lie near to the observer and those which seem further away, and thus recede into space. ...

Explanation:

A company's holding cost is 16% per year. Its annual inventory turns are 10. The company buys an item for $40. Round your answer to 2 decimal places.) What is the average cost (in $s) to hold each unit of this item in inventory?

Answers

The average cost to hold each unit of this item in inventory is $0.64.

To calculate the average cost to hold each unit of this item in inventory, we need to consider the company's holding cost, annual inventory turns, and the item's cost.

In order to calculate the average cost to hold, follow these steps:

1. Determine the holding cost per unit per year:

16% of the item's cost ($40) = 0.16 * $40 = $6.4

2. Determine the number of days in a year for inventory turns:

365 days / 10 turns = 36.5 days per turn

3. Calculate the holding cost per unit for one turn:

($6.4 holding cost per year) * (36.5 days per turn / 365 days) = $6.4 * 0.1 = $0.64

Hence, the average cost to hold each unit of this item in inventory is $0.64.

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journal entries
sold goods costing Rs. 15000 for Rs.5000 profit​

Answers

Answer:

sales cr profit cash dr

What is the expected return and standard deviation for the minimum-variance portfolio of the two risky funds? A pension fund manager is considering three mutual funds: the first is a stock fund, the second is a long-term government and corporate bond fund, and the third is a T-bill money market fund that yields a sure rate of 4.6%. The probability distributions of the risk funds are: Stock Fund (S) Expected Return, 16%, Standard Deviation, 36%; Bond Fund (B) Expected Return, 7%, Standard Deviation, 30%. The correlation between the fund returns is .0800. (Do not round intermediate calculations. Round your answers to 2 decimal places.)

Answers

The minimum-variance portfolio of the two risky funds has an expected return of 8.47% and a standard deviation of 25.16%.

To find the expected return and standard deviation of the minimum-variance portfolio of the two risky funds, we need to follow these steps: Calculate the portfolio variance. The formula for portfolio variance is

I²p = w₁² I₁² + w₂²I₂² + 2w₁w₂I₁I₂I₁₂ , where w₁ and w₂ are the weights of the two funds, σ1 and σ2 are the standard deviations of the returns of the two funds, and ρ12 is the correlation coefficient between the returns of the two funds.

Using the given data, we can calculate the portfolio variance as: Calculate the weights of the two funds: To find the weights of the two funds, we need to set the derivative of the portfolio variance with respect to w1 equal to zero and solve for w₁:w₁ = (I₂² - I₁₂I₁I₂) / I₁² + I₂² - 2I₁₂I₁I₂)

Using the given data, we can calculate the weights as: Calculate the expected return of the minimum-variance portfolio: The expected return of the minimum-variance portfolio can be calculated as: E(r p) = w₁ E(r₁) + w₂ E(r₂) Using the given data, we can calculate the expected return as:

E(rp) = 0.3296 *16

Calculate the standard deviation of the minimum-variance portfolio: The standard deviation of the minimum-variance portfolio can be calculated as:  

Ip = a( I²p)

Using the calculated portfolio variance from step 1, we can calculate the standard deviation as:

Ip = a( 0.0634416) =25.16

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A leader's decision-making style captures how a leader decides as opposed to what a leader decides.

a. True

b. False

Answers

True. Leaders have to make decisions every day, and their decision-making style determines how they approach the task.

A leader's decision-making style reflects their personality and preferences, and can be an important factor in the success or failure of their decisions. For example, a leader who is decisive and decisive may make quick decisions, while a leader who is analytical may take more time to consider all the available options.

Different decision-making styles also have different implications for how team members are involved in decision-making, which can affect the quality of decisions and team morale. Ultimately, a leader's decision-making style can have a significant impact on the organization as a whole.

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The housekeeping services department of ruger clinic, a multispecialty practice in toledo, ohio, had $100,000 in direct costs during 2015. these costs must be allocated to ruger's three revenue-producing patient services departments using the direct method. two cost drivers are under consideration: patient services revenue and hours of housekeeping services used. the patient services departments generated $5 million in total revenues during

Answers

Answer:

Missing word "2015, and to support these clinical activities, they used 5,000 hours of housekeeping services. a.What is the value of the cost pool? b.What is the allocation rate if patient services revenue is used as the cost driver? and hours of housekeeping services issued as the cost driver?"

a. What is the value of the cost pool?

The cost pool = $100,000 (All the indirect cost)

b. What is the allocation rate if patient services revenue is used as the cost driver?

The allocation rate = Value for housekeeping / Total Revenue

The allocation rate = $100,000 / 5,000,000

The allocation rate = $0.02 per patient service

c. What is the allocation rate if  hours of housekeeping services is issued as the cost driver?

Allocation rate = Value for housekeeping / Hours of housekeeping service

Allocation rate = $100,000 / 5000 hours

Allocation rate = $20 per housekeeping hour

Candonia has a comparative advantage in the production of , while lamponia has a comparative advantage in the production of . Suppose that candonia and lamponia specialize in the production of the goods in which each has a comparative advantage. After specialization, the two countries can produce a total of million pounds of sugar and million pounds of lemons.

Answers

Answer:

Candonia has a comparative advantage in the production of LEMONS, while Lamponia has a comparative advantage in the production of COFFEE. Suppose that Candonia and Lamponia specialize in the production of the goods in which each has a comparative advantage. After specialization, the two countries can produce a total of 36 million pounds of coffee and 36 million pounds of lemons.

Explanation:

Since a lot of information was missing, I looked it up and found the attached graphs. The graphs referred to production of coffee and lemons, but I guess they are similar questions.

For every pound of lemons that Candonia produces, it will not be able to produce ¹/₂ pounds of coffee (opportunity cost of producing lemons instead of coffee).

For every pound of coffee that Lamponia produces, it will not be able to produce 1¹/₂ pounds of lemons (opportunity cost of producing coffee instead of lemons).

Candonia has a comparative advantage in the production of , while lamponia has a comparative advantage

Which of the following is not a step in the decision making process
a.Identify Choices
b. MAKE a decision
c.Consult a career coach
d. DEFINE your needs and wants

Answers

Career Coach is wrong (Pretty sure)

the principle of monetary neutrality implies that an increase in the money supply will increase a. the price level, but not real gdp. b. real gdp, but not the price level. c. real gdp and the price level. d. neither the price level nor real gdp.

Answers

The principle of monetary neutrality is a classical economic concept that implies that changes in the money supply will not have an effect on real economic variables in the long run, but only on nominal variables, such as the price level. Option a is correct.

Therefore, an increase in the money supply will not affect real GDP in the long run, but it will affect the price level. This means that the correct answer to the question is:  The price level, but not real GDP. So, according to the principle of monetary neutrality, an increase in the money supply will lead to an increase in the price level, but it will not affect real GDP. This is because the increase in the money supply will lead to an increase in demand for goods and services, which will eventually lead to an increase in their prices, but it will not affect the real output in the economy. According to the principle of monetary neutrality, an increase in the money supply will lead to an increase in the price level, but it will not affect real GDP. This is because the increase in the money supply will lead to an increase in demand for goods and services, which will eventually lead to an increase in their prices, but it will not affect the real output in the economy.

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describes employees who are allowed to work remotely.
Networked staff
Overtime employees
Telecommuting employees
Salaried employees

Answers

Answer:

Telecommuting employees.

Explanation:

There are numerous mediums or ways of working in the corporate world. telecommunication is one such way in which the employees are allowed to work from a remote place and do not necessarily need to come to the employer's office to do work.

Telecommunication is also known as work from home, remote work, flexible work, mobile work, etc. among others. This allows the employee to work in his/ her own space, comfort zone and also need not make them go through the hassle of traveling to and back from the office. This, in return, makes it good for the company to reduce costs be it in travel allowances, office space, and other amenities, etc.

Answer:

telecommuting employees

Explanation:

got it right on my quiz

an engineer invests $6,000 at the end of every year for a 40-year career. if the engineer wants $1 million in savings at retirement, what interest rate must the investment earn? a. 6.3% b. 4.3% c. 8.3% d. 10.3%

Answers

In order to accumulate a savings of $1 million within a 40-year time frame with an annual contribution of $6,000, the engineer must secure an interest rate of 8. 3%

How to solve

This can be calculated using the following formula:

Future Value = Present Value * (1 + Interest Rate)^Number of Years

In this case, the future value is $1 million, the present value is the annual investment of $6,000, and the number of years is 40. Plugging these values into the formula, we get:

$1,000,000 = $6,000 * (1 + Interest Rate)^40

Solving for the interest rate, we get:

Interest Rate = \((1,000,000 / 6,000)^(1/40) - 1 = 8.3\)%

Hence, in order to accumulate $1 million after 40 years by investing $6,000 annually, the engineer must achieve an interest rate of 8. 3%

Answer: c. 8.3%

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In digital format, sound is represented by a series of numbers. What does each number represent?
A: the air pressure at a given point in time
B: the speed of molecules at a given point in time
C: the vibrations at a given point in time
D: the loudness at a given point in time

Answers

Answer:

did you get it?

Explanation:

Answer:

The answer is A

Explanation:

When faced with an intercultural ethical dilemma, you should ask yourself if the action is legal, if you can rule out a better alternative, if a trusted advisor would agree, and ________.
a. if there is money to be made
b. how your decision will benefit your company
c. if you would do it if you were on the opposite side
d. if religious beliefs are involved

Answers

When faced with an intercultural ethical dilemma, you should ask yourself if the action is legal, if you can rule out a better alternative, if a trusted advisor would agree, and if you would do it if you were on the opposite side. (Option C)

An ethical dilemma refers to a problem that occurs in the decision-making process between possible options, neither of which is absolutely acceptable from an ethical perspective. Intercultural ethical dilemma occurs when the difference in ethical perspective is due to cultural beliefs with opposing values and beliefs.

Hence, based on the given information, the best choice would be 'if you would do it if you were on the opposite side' because it allows you to consider the perspective of those who may be affected by your decision and helps you to make a more informed and ethical choice.

Option a, if there is money to be made, is not a valid consideration in an ethical dilemma as it prioritizes personal gain over ethical considerations. Option b, how your decision will benefit your company, also prioritizes personal gain, and does not consider the impact on others. Option d, if religious beliefs are involved, may be a consideration for some individuals, but it should not be the sole factor in making an ethical decision.

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Which economic effect does a central bank hope to achieve by buying back large amounts of treasury security

Answers

A. It hopes to reduce the amount of money available for lending.

Explanation:

Usually, the central bank(Federal reserve) control the supply of money in circulation in the economy so that the nation's economy would be healthy. One of the ways through which the federal reserve controls the quantity of money in circulation is by selling or purchasing of government securities through a process known as open market operation.

If the federal reserve sells government securities such as treasury bills, in large quantities, its aim is to reduce the amount or quantity of money available to commercial banks for lending, hence mop up the quantity of money in circulation.

Also, if the federal reserve buys government securities, its aim is to make more money available in large quantities to commercial banks and other institutions, hence have more cash to lend people.

The economic effect that central bank are trying to effect by the process of buying back large amounts of treasury security is bring reduction to amount of money available for lending.

Treasury notes as well as bonds are securities that brings about payment of fixed rate of interest which is usually done every six months till the  security reach a stage of maturity.

The central bank do buy large amounts of treasury security so that the money that can be available for lending can be reduced.

Therefore, this process are put in place to balance the economy.

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Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a.

Answers

Shares of apple are currently trading at approximately $129. Placing an order to buying 1000 shares but only when the stock price hits $125 is known as a Limit Order.

A limit order is a buy/sell order that specifies a maximum price to be paid or a minimum price to be received for a stock (the "limit price"). Only at the specified limit price or better will the order be filled.

A limit order advises your broker to fill your buy or sell order at a certain price or better and is visible to the market. When a stop price is reached, a stop order, which is invisible to the market, activates a market order.

An order to purchase or sell a security at a certain price or higher is known as a limit order. Only at the limit price or lower can a purchase limit order be fulfilled, and only at the limit price or greater can a sell limit order be fulfilled. Example: A buyer wishes to pay no more than $10.28 a share for shares of ABC stock.

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The complete question is ''Shares of Apple are currently trading at approximately $129. Placing an order to buying 1000 shares BUT only when the stock price hits $125 is known as a

A) Stop-Loss Order

B) Market Order

C) Limit Order

D) Shorting

If a 10% increase in price leads to a 40% decrease in quantity demanded, what is the value of price elasticity of demand? Show your work.

Answers

The value of price elasticity of demand is -4, which means that the demand for the product is highly elastic.

Price Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
Using the information provided, we can calculate the percentage change in quantity demanded:
40% decrease in quantity demanded = (New Quantity Demanded - Old Quantity Demanded) / Old Quantity Demanded
-40 = (New Quantity Demanded - Old Quantity Demanded) / Old Quantity Demanded
Solving for New Quantity Demanded:

New Quantity Demanded = Old Quantity Demanded * (1 - 40%)
New Quantity Demanded = Old Quantity Demanded * 0.6
Now, we can calculate the percentage change in price:
10% increase in price = (New Price - Old Price) / Old Price
0.1 = (New Price - Old Price) / Old Price

Solving for New Price:
New Price = Old Price * (1 + 0.1)
New Price = Old Price * 1.1
Price Elasticity of Demand = (% Change in Quantity Demanded) / (% Change in Price)
Price Elasticity of Demand = (-40%) / (10%)
Price Elasticity of Demand = -4
The value of price elasticity of demand is -4, which means that the demand for the product is highly elastic. A small change in price results in a significant change in quantity demanded. In this case, a 10% increase in price leads to a 40% decrease in quantity demanded, indicating that consumers are very sensitive to changes in price.

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How did you decide which candidates to give the most money to? What criteria should be most important when parties are deciding who to support in such a manner?

Answers

Even in a wave of elections, the candidates with the highest odds of winning are Earn more funds.

Candidates are contributing to a campaign when they use personal funds for campaign purposes. Unlike other posts, there are no restrictions on these candidate posts. However, it should be reported.

To become a presidential candidate, a candidate normally must win a majority of the delegates. This is usually done through party primaries and factions. It is then approved by a vote of delegates in parliament.

Campaigns are managed by a Campaign Manager responsible for overall strategy and staff to handle media, fundraising, advertising, polls and campaign materials.

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Step 3: Now, let’s identify the factors that affect the Business Environment
As big as our economy is, it is still sensitive to changing dynamics that affect its performance and vitality. Consider these factors and how they impact business. CHOOSE JUST THREE FACTORS TO GIVE AN EXAMPLE FOR BELOW.

Economic: Jobs, interest rates & inflation are some of the forces that affect supply and demand, which determines how prices and quantities of goods and services perform in our economy.
Political/Legal: The stability of a government, and the types of laws it passes affects businesses profitability and investment
Demographic: Businesses have to consider their market’s age, gender, race, ethnicity and location.
Social: Attitudes, values, ethics, and lifestyles—influence what, how, where, and when people purchase products or services. They are difficult to predict, define, and measure because they can be very subjective.
Competition: Competition causes business to develop new products, services and technologies, and offer consumers greater selection and better products. The greater the selection of a good is in the market, prices are typically lower for the products,Global: Immigration/Refugees, political factors, tariffs, climate events and competition.
Technology: The use of science and engineering skills can be used to solve production and organizational problems. New equipment and software that improve productivity and reduce costs can be among a company’s most valuable assets.

Step 4: Choose THREE factors from the above list, and give an example of how you see this work in the economy:
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name Factor here): (Example here of where you have seen this factor demonstrated).
(Name of factor here): (Example here of where you have seen this factor demonstrated).

(Example: Political/Legal: The Federal Reserve System)

Do you need more help understanding this topic? Read the linked article below.
Understanding the Business Environment (Link to Article)https://opentextbc.ca/businessopenstax/chapter/understanding-the-business-environment/

Answers

Ale jak się okazało w Polsce dniu narty nie skierowane to dniu tym świecie i jest ogóle nie ma problemu z tym że nie ma przecieku co w wszystko jutrzejszym terminie

Providing managers with increased visibility of the entire logistics process so that they can improve the efficiency of the entire system is the primary function of any ___ system.

Answers

The primary function of supply chain management system is to provide the managers with increased visibility of the entire logistics process so that they can improve the efficiency.

What is the supply chain management?

In a firm, the supply chain management refers to an operational section that manages the flow of goods, services, tasks and processes that take place from the input of raw materials to the output.

In conclusion, the primary function of any supply chain management system is to provide the managers with increased visibility of the logistics process.

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What stories does marketing tell?

Answers

Storytelling advertising way the usage of a narrative to talk a message. The intention is to make the viewer sense something enough that it’ll inspire them to take action. Storytelling in advertising allows purchasers to understand why they need to care approximately something, and it really works to humanize your brand. if you want to analyze greater about messaging, view our logo message templates.

Storytelling in marketing isn't always restricted to film stories can be instructed in pics, verbally, or in written shape. and that they may be informed throughout all channels from social media to billboards. testimonies can help entrepreneurs acquire reduce-via in a market that’s by way of design distracting, growing advertising and marketing that resonates with humans and sticks.

if your emblem can create a powerful narrative, you’ll be able to seize your target audience’s interest for longer periods of time, make an extra memorable effect, and improve logo loyalty.

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The use of replacement cost of assets for purposes of calculating return on investment (ROI) has the advantage of: Group of answer choices Objectivity. Consistency with generally accepted accounting principles (GAAP). Historical accuracy. Avoiding the need for developing estimates of current cost. Being a relevant measure of the level of investment in a continuing business.

Answers

The use of replacement cost of assets for calculating return on investment (ROI) has the advantage of: Consistency with generally accepted accounting principles (GAAP).

The concept of replacement cost aligns with the principle of conservatism in accounting, which states that assets should be recorded at the lower of their cost or replacement cost.

Generally accepted accounting principles (GAAP) emphasize the importance of providing relevant and reliable financial information to users.

By using the replacement cost of assets, the ROI calculation adheres to the principle of conservatism and ensures consistency with GAAP.

The advantage of using the replacement cost of assets for ROI calculation is that it aligns with GAAP principles, providing consistency and reliability in financial reporting.

It accurately reflects the potential economic impact of asset replacement, which is essential for making informed investment decisions.

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Use these graphics to answer the question.

An association of medical researchers examined exercise trends among adults.







pls help need an answer fast


Which ratio shows the relationship between the total percent of people who exercised in 2014 to the percent of adults ages 18–24 who exercised in 2016?

47:42
58:45
48:59
48:50

Use these graphics to answer the question.An association of medical researchers examined exercise trends

Answers

The ratio that represents the relationship between the total percent of people who did exercise in 2014 compared to the the percent of adults ages 18–24 who exercised in 2016 is 48:59.

What is a ratio?

A ratio is the comparison of two figures, this can be done with the past data, or can be done with the budgeted or any competitor. In the example given the data is compared with the past data, base year is 2014 and the current year is 2016.

The ratio that is calculated represents that the total percentage of people were 48% in 2014 and the adults in 2016 as a total represents a percentage of 59% and therefore the ratio is 48:59.

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"making planning in itself is not sufficient."what is the requirement for the business to be successful.​

Answers

Answer:

organization

Explanation:

if you are organized then you will have smoother and cleaner place to work in

Answer:

Do what you think, one day you will surely succeed.

"making planning in itself is not sufficient."what is the requirement for the business to be successful.

Early on in an amortized loan the interest portion of each payment is typically ______ than the principle portion. Towards the end of the loan term the interest portion of each payment is typically ______ than the principle portion. This is because the principle remaining _______ over the life of the loan. A) less / greater / increases B) greater / less / increases C) greater / less / decreases D) less / greater / decreases

Answers

Answer:

C

Explanation:

An amortized loan is a form of loan which the principle together with the accrued interest component is gradually written off over an agreed period of time at a specified rate.An equal amount is regularly paid over the extended period.

The interest component of an amortized loan is firstly settled before considering the principle amount , which makes the interest component to be higher that the principle at the initial stages. This process leads to a reduction in the volume of the principle balance with time . Moreover , as the principle reduces with time , the interest expenses also reduces , and it eventually gets to a point where the principle component of repayment becomes greater.

If the market price is $8, how many units should the firm produce to maximize profit?.

Answers

At a price of $8 per unit, the company has to create seventy (70) units in order to make the most amount of money possible. At a price of $8 per unit, the company has to create seventy units in order to make the most amount of money possible.

What is maximizing profit?

Generally, In the field of economics, the term "profit maximization" refers to either the "short run" or "long run" process that a company can use to determine the price, input and output levels that will result in the greatest possible total profit.

The term "profit maximization" draws attention to that specific point, which is the level of output at which your company generates the greatest amount of profit. "a company trying to maximize profit will produce the quantity where marginal cost' and marginal revenue' are equal to each other," as stated by the Khan Academy, a non-profit educational organization.

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Most economists believe that classical macroeconomic theory is a good description of the economy Select one: a. in the short run and in the long run. b. in neither the short nor long run. c. in the long run, but not in the short run. d. in the short run, but not in the long run.

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The classical microeconomics theory is a common theory in economics that often centers around the market. Most economists believe that classical macroeconomic theory is a good description of the world  in the long run, but not in the short run

In Classical microeconomic theory , Adam Smith talked about the invisible hand of the market.  He explained the reason and when people act out of self-interest, markets often provide goods and services that are demanded by the population.  

The key principle of the classical theory is that the economy is simply known to be self‐regulating. It state that the economy is always at or near the natural level of real GDP.

The theory was created by Adam Smith and later on economists, such as David Ricardo.

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