Using the money multiplier formula, if you have an initial cash deposit of $10,000 and an RRR of .2, by what amount will the money supply be increased?
Answers
The money supply will be increased by $50,000 using the money multiplier formula, given an initial cash deposit of $10,000 and a required reserve ratio (RRR) of 0.2.
The money multiplier formula is used to determine the potential increase in the money supply resulting from a change in the monetary base (in this case, the initial cash deposit) and the required reserve ratio (RRR). The formula is: Money Multiplier = 1 / RRR
To calculate the increase in the money supply, we can use the following equation:
Increase in Money Supply = Initial Cash Deposit * Money Multiplier
Given an initial cash deposit of $10,000 and an RRR of 0.2, we can calculate the money multiplier:
Money Multiplier = 1 / 0.2 = 5
Now we can calculate the increase in the money supply:
increase in Money Supply = $10,000 * 5 = $50,000
Therefore, the money supply will be increased by $50,000.
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Related Questions
Your company is looking at purchasing a front-end loader and has narrowed the choice down totwo loaders. Loader 1 costs $150,000 with a useful life of seven years with a salvage value of
$10,000 at the end of the seventh year. Loader 2 costs $110,000 with a useful life of five years
with a salvage value of $10,000 at the end of the fifth year. The annual profit for either one is
$20,000. Using a MARR of 20%, which alternative should your company buy?
Answers
Based on the provided information and a minimum attractive rate of return (MARR) of 20%, the company should choose Loader 1 over Loader 2 for purchase.
To determine the better option, we need to calculate the present worth (PW) of each loader and compare them. Loader 1 has a useful life of seven years, and Loader 2 has a useful life of five years.
Both loaders have a salvage value of $10,000 at the end of their respective lifespans.
For Loader 1, the initial cost is $150,000, and the annual profit is $20,000.
Using the MARR of 20%, we can calculate the annual equivalent worth (AE) of the annual profit using the formula AE = (Annual Profit - Salvage Value) / (1 + MARR)^n, where n is the number of years. Substituting the values, AE1 = ($20,000 - $10,000) / \((1 + 0.20)^7\)= $9,090.91.
For Loader 2, the initial cost is $110,000, and the annual profit is also $20,000. Similarly, calculating the AE, we get AE2 = ($20,000 - $10,000) / (1 + 0.20)^5 = $10,909.09.
To find the PW, we multiply the AE by the appropriate factor: PW = AE * (1 + MARR)^n. For Loader 1, PW1 = \($9,090.91 * (1 + 0.20)^7\) = $53,527.19. For Loader 2, PW2 = $10,909.09 * (1 + 0.20)^5 = $55,114.80.
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differentiate between primary and secondary wants
Answers
Answer:
Difference between primary needs and secondary needs: Primary needs: The primary needs are the basic requirements according to biological demands like oxygen for breathing, water for overcoming thirst, food for living and shelter. The secondary needs are the needs that remain even after the primary needs are satisfied
What do taxes pay for? a. Schools, government departments, roads, and emergency services
b. Privately-owned businesses
c.Operation of financial institutions
d. None of the above
Answers
A
Because thats what the government gets in order to pay for everything we have that is for the Public
Taxes are payed for the development of schools, government departments, roads and emergency services. They are payed by the citizens of a country.
What are taxes ?A tax is defined as payments or charge of money on the tax payers. They are the levy imposed by the government on its citizens to fund development projects and government schemes for its people.
Why are taxes paid ?It is the main source of revenue for the government.
The money collected is spent to maintain and develop public infrastructure and fund public services through welfare programs.
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Question 40 of 40
Product differentiation occurs most frequently in what part of the product life
cycle?
A. Introduction
B. Growth
C. Decline
D. Maturity
Answers
Product differentiation occurs most frequently in the D. maturity part of the product life cycle.
Maturity isn't a matter of age, but rather, of how you choose to respond and reply to colorful life situations. It's basically a position of internal development or wisdom that has a bearing on all areas of an existent's life, right from their conduct to their relationship with others. A mature person will take responsibility for his own conduct rather than condemn others. He'll take a far-sighted view of effects and act in a considered, rather than a robotic manner. Mature people are suitable to accept themselves for who they are; they exercise kindness indeed in the face of their failings. You can seek to ameliorate yourself and grow as an individual, but maturity allows you to take your present situation and all the once events that have led to it and make peace with them.
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a campaign to organize nonunion workers into a union and gain recognition by their employer is known as a(n) .
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MARK ME BRAINLIEST
how
has covid 19 affect sickle cell with hospital financial
strain
Answers
The financial strain caused by the COVID-19 pandemic has had an impact on the management and treatment of sickle cell disease in hospitals.
Hospitals have faced resource constraints, including limited staff, equipment, and funding, which can affect the quality and accessibility of care for individuals with sickle cell disease. This may lead to challenges in providing timely and comprehensive treatment, monitoring, and support services for patients with sickle cell disease, potentially impacting their overall health outcomes. The financial strain on hospitals has highlighted the need for continued investment and support in healthcare systems to ensure the provision of adequate care for individuals with chronic conditions like sickle cell disease.
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Give two examples of products sold in perfectly competitive markets and two examples of products sold in monopolistically competitive markets.
Answers
Apples and oranges are perfectly competitive products, while Ralph Lauren cologne and Maybelline cosmetics are monopolistically competitive products.
Perfectly Competitive Markets and Monopolistically Competitive MarketsA perfectly competitive can be described as a market in which there are many buyers and sellers, no transaction costs, no barriers to entry and leave, homogeneous products, no market control by a single firm, and perfect information about the price of a good.
Two examples of products sold in perfectly competitive markets are Apples and oranges.
A monopolistically competitive market is one in which several producers compete against one another, yet sell items that differ from one another and are thus not perfect substitutes.
Two examples of products sold in monopolistically competitive markets are Ralph Lauren cologne and Maybelline cosmetics.
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The Sarbanes-Oxley Act of 2002 requires companies and their independent accountants to O A. report on the effectiveness of the company's internal controls B. report on any fraud and theft detected in the company C. report on the state of the economy and likelihood of fraud D. report on the financial activities of the company Challenge this question You can challenge up to 2 questions for this exam.
Answers
The Sarbanes-Oxley Act of 2002 requires companies and their independent accountants to report on the effectiveness of the company's internal controls.
The Sarbanes-Oxley Act (SOX) was enacted in response to several high-profile accounting scandals in the early 2000s, such as Enron and WorldCom, which resulted in significant financial losses for investors. The main objective of SOX is to protect investors and ensure the accuracy and reliability of financial statements.
One of the key provisions of SOX is Section 404, which requires companies and their independent accountants to report on the effectiveness of the company's internal controls over financial reporting. This means that companies are required to assess and evaluate their internal control systems and provide a report on the effectiveness of these controls to ensure the accuracy and reliability of financial statements.
By requiring companies to report on the effectiveness of their internal controls, SOX aims to increase transparency and accountability in financial reporting, reduce the risk of fraudulent activities, and provide investors with more confidence in the accuracy of the financial information disclosed by companies.
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In MS Word, which items are you able to format?
(What types of things do/can we format?)
A: Text
B: Table
C: Menu
D: Both A & B
Answers
Answer:
Explanation:
both A & B
The amount of goods to be acquired from suppliers during the period is shown on the _______ budget.
Answers
The amount of goods to be acquired from suppliers during the period is shown on the merchandise or purchase budget.
What is the purchases budget?The purchases budget shows the quantity and amount of goods that a merchandiser needs to order from suppliers for the budget period.
Preparing the purchases budget helps to estimate demand and order points.
A company also uses the purchases budget to prepare for increases or changes in product lines or the launching of new products.
Thus, the amount of goods to be acquired from suppliers during the period is shown on the merchandise or purchase budget.
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Please Help!
1. The Pascal family: Both Mr. and Mrs. Pascal have been hired by a major employer in your town. They have been pre-approved for a loan of up to $300,000 and have enough cash to make a 20% down payment. They have steady incomes and hope to put down roots. Single family home, 3 beds and 2.5 baths.
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
2. The Harris family: They are a few years out of college and have been hired to teach school through the Teach for America program. Their contract is for one year. They have a little savings of about $1,200 in the bank. They are both fitness enthusiasts and love to ride bikes, play tennis and jog. Apartment with $800-$1000 monthly rent
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
3. The Middleburg family: They are looking to retire in your town to be closer to their grandchildren. They have $255,000 from the sale of their previous home to buy a house outright for a minimum $200,000. Mrs. Middleburg has neuropathy and may eventually need a wheelchair. Mr. Middleburg has a heart condition that needs to be monitored. Single story 3 beds, 2 bath “accessible” home. $200,000 - $250,000 range
(a) Give the URL for the home listing.
(b) Describe the home.
(c) Provide the reasons why it is a good fit.
Answers
Answer:
You should go to redfin.com and search a house that meets their needs I’m not sure if that’s the correct way to do the assignment but that’s how I did it
Explanation:
The pascal family of Mr. and Mrs. paschal have employed a major employ a man in the town. They have ales approved a loan of 300,000 and have enough cash to make a down payment.
The home listing URL is blog.hubspot.com. The home is big and located near the central business district. It is a good fit as it has all the available and necessary sites within one hour of reach. The harries family is a few years out of college and has been hired to teach in a school. They have contracts for one-year duration and have some savings of $1,200. They love to ride bikes and play tennis. Give a rent of 800-1000 USD. For them home would be a place that is far away from the downtown has cheap and affordable transportation and is not crowded. The middle burgs family is looking for retirement. The want to live close to their grandchildren. They have a $255,000 form sale and are used to wheelchairs. They need a home that is near the city and is near the medical care.Learn more about the Pascal family: Both Mr. and Mrs. Pascal have been.
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Tony is conducting a team meeting, and he notices that Britany rolls her eyes every time he says something. Tony should_____________. -politely seek additional information by saying, "I'm not sure that you really agree with my ideas. Do you have a suggestion to improve them?" -sarcastically thank Brittany for her support -take Brittany aside and tell her to keep her negative behavior to herself -end the meeting
Answers
Answer:
Tony is conducting a team meeting, and he notices that Brittany rolls her eyes every time he says something. Tony should_____________.
politely seek additional information by saying, "I'm not sure that you really agree with my ideas. Do you have a suggestion to improve them?"
Explanation:
As a team leader, Tony should work collaboratively with team members individually and collectively to achieve the objectives of the team. And this includes working with Brittany to sort out differences. By seeking additional information from Brittany, she is given an opportunity to air her own views and contribute ideas to build the team up.
During the 2018 financial year, Foster Manufacturing recorded the following income and expenditure. GST is not considered in this question.
• Sales Revenue of $2,040,000
• Operating Expenses of $322,000
• Income tax Expense $215,000
Charges to Production were:
• Raw Materials issued to Production of $420,000
• Direct labour charged to Production $340,000
• Overheads charged to Production $272,000
• Actual cost of Overheads $265,000
Additional Information:
• Work in Process at the beginning of the period was $102,000
• Work in Process at the end of the period was $110,000
• Finished Goods at the beginning of the period was $234,000
• Finished Goods at the end of the period was $252,000
Required:
Based on the transactions recorded, within Microsoft Excel prepare a:
Income Statement for the year
Answers
Answer:
in 2021 C
Explanation:
c
Can anyone help me?
Saving money allows u to set more aside in a(n) ____ fund
Emergency
Bond
Exchange
Answers
Answer:
Saving money allows you to set more aside in an Emergency fund.
Stephenson Limited produces a variety of products for the computing industry. The company’s CEO plans to produce a new product, WiFi router and asked the controller to prepare some information and be ready to meet with him to discuss about it. In preparing for the meeting, the controller accumulated the following data: Selling price of a router $1,250 Direct materials per router $270 Direct labour per router $130 Variable overhead per router $80 Total fixed costs $120,000
Required: a) Calculate the contribution margin per unit, break-even point in units and in sales dollar.
b) Calculate the number of units that must be sold and the amount of sales revenue to earn $300,000 of profit.
c) Calculate the break-even point in units and in sales dollar if the company were to reduce variable costs by $220 per unit by investing in technology resulting in an overall increase of $20,000 in total fixed costs? d) The CEO believes the company can increase sales by 50 units if advertising expense is increased by $31,000 based on the original data. Justify whether the company should increase advertising expenditure.
Answers
a) Contribution Margin per Unit: $770, Break-Even Point in Units: ≈ 155.84, Break-Even Point in Sales Dollars: ≈ $194,800.
b) Number of Units for $300,000 Profit: ≈ 584.42, Sales Revenue for $300,000 Profit: ≈ $730,525.
c) New Contribution Margin per Unit: $1,410, New Break-Even Point in Units: ≈ 94.33, New Break-Even Point in Sales Dollars: ≈ $117,912.50.
d) Additional Sales Revenue: $62,500, Contribution from Additional Sales: $38,500, Additional Advertising Expense: $31,000. Conclusion: Increase in advertising expenditure is justified as it would result in a positive contribution to profit.
a) To calculate the contribution margin per unit, break-even point in units, and break-even point in sales dollars, we need the following information:
Selling price per router: $1,250
Direct materials per router: $270
Direct labor per router: $130
Variable overhead per router: $80
Total fixed costs: $120,000
Contribution Margin per Unit:
Contribution Margin per Unit = Selling Price per Unit - Variable Costs per Unit
Contribution Margin per Unit = $1,250 - ($270 + $130 + $80)
Contribution Margin per Unit = $1,250 - $480
Contribution Margin per Unit = $770
Break-Even Point in Units:
Break-Even Point in Units = Total Fixed Costs / Contribution Margin per Unit
Break-Even Point in Units = $120,000 / $770
Break-Even Point in Units ≈ 155.84
Break-Even Point in Sales Dollars:
Break-Even Point in Sales Dollars = Break-Even Point in Units × Selling Price per Unit
Break-Even Point in Sales Dollars = 155.84 × $1,250
Break-Even Point in Sales Dollars ≈ $194,800
b) To calculate the number of units and sales revenue needed to earn $300,000 of profit, we need to consider the contribution margin per unit and total fixed costs:
Number of Units for $300,000 Profit:
Number of Units = (Total Fixed Costs + Desired Profit) / Contribution Margin per Unit
Number of Units = ($120,000 + $300,000) / $770
Number of Units ≈ 584.42
Sales Revenue for $300,000 Profit:
Sales Revenue = Number of Units × Selling Price per Unit
Sales Revenue = 584.42 × $1,250
Sales Revenue ≈ $730,525
c) If the company reduces variable costs by $220 per unit and incurs an additional $20,000 in total fixed costs, the new calculations would be:
New Contribution Margin per Unit = $1,250 - ($270 - $220 + $130 + $80) = $1,410
New Break-Even Point in Units = ($120,000 + $20,000) / $1,410 ≈ 94.33
New Break-Even Point in Sales Dollars = 94.33 × $1,250 ≈ $117,912.50
d) To determine whether the company should increase advertising expenditure, we need to consider the additional sales generated by the increased advertising and compare it to the additional expense:
Contribution Margin per Unit: $770
Additional Units Sold: 50
Additional Sales Revenue: 50 × $1,250 = $62,500
Contribution from Additional Sales = Additional Units Sold × Contribution Margin per Unit = 50 × $770 = $38,500
Additional Advertising Expense: $31,000
Since the contribution from the additional sales ($38,500) exceeds the additional advertising expense ($31,000), it would be justified for the company to increase advertising expenditure as it would result in a positive contribution to profit.
Please note that these calculations are based on the provided data and assumptions, and actual results may vary.
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What is one benefit of continuing your education after high school?
A. The ability to earn money immediately
B. Postponing responsibility for your actions
C. Increased earnings over the course of your career
D. There is no benefit to continuing your education.
Answers
Answer:
C
Explanation:
The most relevant one because university is the place to produce expert in many fields. Thus this will increase your earnings within your course of career.
Answer:
c
Explanation:
Ricky is working for Matt, a buyer client, who is interested in a property at which the listing agent offers compensation to cooperating agents. The listing agent has offered Ricky or any cooperating agent additional compensation if the transaction closes within 40 days. Is this ethical
Answers
How much should someone’s loan payment be if their total income is $100?
Answers
Someone’s loan payment if their total income is $100 should be 30 times their monthly income.
The loan payments means the amounts required to be paid by the borrower in repayment of the loan pursuant to the provisions of the loan agreement, the note and the bond mortgage.
In most cases, lenders consider approximately 50-75% of the net income as instalments. In case your expenses exceed the percentage, banks either increase the tenure of the loan or reduce the amount sanctioned.
Additionally, to minimise the risk of default, lenders keep the EMIs of the loan to about 45-60% of your monthly income.
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A manager who is reactive and works hard to address problems after they occur is known as a . (a) problem seeker (b) problem avoider (c) problem solver (d) problem manager
Answers
Answer:
(c) problem solver
Explanation:
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright.
Generally, managers are typically involved in taking up leadership roles and as such are expected to be build a strong relationship between their employees or subordinates by creating a fair ground for effective communication and sharing of resources and information. Also, they are required to engage their staff members (entire workforce) in the most efficient and effective manner.
Hence, a manager who is reactive and works hard to address problems after they occur is known as a problem solver.
This ultimately implies that, a problem solver proffer solutions to a problem after it has occurred already. Problem solver are reactive rather than being proactive by preventing or mitigating the possibility of a problem arising.
The most common type of two-year college is called a(n):
O A. trade college.
B. liberal arts college.
C. community college.
O D. apprenticeship college.
Answers
Answer:
c.
Explanation:
just took the test
how do west african art traders who immigrate and sell their wares in marketplaces in new york city receive honor and prestige in their home countries?
Answers
West African art traders who immigrate and sell their items in New York City markets acquire glory and distinction in their home nations by satisfying financial commitments with remittances and start-up funding for family members.
What exactly does the term "art trader" mean?An art dealer is a person or corporation who buys and sells pieces of art or serves as a middleman between buyers and sellers.
A contemporary art dealer often searches out diverse artists to represent and cultivates ties with collectors and museums whose interests are likely to align with the work of the represented artists. Some dealers may predict market trends, and some notable dealers may be able to affect the market taste.
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2.
What is selling? How can you apply this in your real life as a student?
Answers
the buyer in a transaction has requested a particular closing agent in her offer. what kind of provision would this be considered?
Answers
The buyer in a transaction has requested a particular closing agent in her offer. this is considered as additional provision.
Why is a Closing Disclosure necessary for real estate agents?
Because they must submit specific data fields to MLS in order to close the listing, real estate agents are primarily interested in receiving the Closing Disclosure. As a result, there isn't a standard set of data fields that will satisfy MLS because these standards differ per state.
Who is in charge of the sale and purchase's closing?The purchase and sale agreement (which we cannot check online) should specify who is responsible for providing proof of title and who will oversee the closure. The majority of insurance companies demand that their agent handle the closing (but there are exceptions, and both parties can actually generate a HUD if they wish).
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Two nations, Mars and Venus, each produce food and clothing. The table gives points on each nationâs PPF. The asterisks indicate their current point of production. Which of the following statementsis correct based on the concept of comparative advantage?
Mars Venus
Food Clothing Food Clothing
0 30 0 40
2 24 4 32
4 18 8 24
5 12 12 16
8 6 16 8
10 0 20 0
a. Mars and Venus should continue producing the quantities indicated by the asterisks.
b. Mars should specialize in the production of food.
c. Mars should specialize in the production of clothing.
d.Venus has the comparative advantage in clothing.
e. Mars has an absolute advantage in the production of food.
Answers
Answer:
The correct option is;
c. Mars should specialize in the production of clothing
Explanation:
The given table can be presented as follows;
Mars\({}\) \({}\)Venus
Food \({}\) Clothing Food \({}\) Clothing
0 \({}\) 30 0 \({}\) 40
2 \({}\) 24 4 \({}\) 32
4 \({}\) 18 8 \({}\) 24
5 \({}\) 12 12 \({}\) 16
8 \({}\) 6 16 8
10 0 20 \({}\) 0
From the attached chart as produced in Excel, the trend lines and their equation for Mars and Venus can be seen
The relationship between Clothing, y and Food, x production for Mars is given as follows;
y = -3·x + 30
The relationship between Clothing, y and Food, x production for Venus is given as follows;
y = -2·x + 40
Therefore since a given decrease in food production results in a higher increase in Cloth production for Mars than for Venus, Mars should specialize in the production of clothing.
which of the following statements concerning a firm's cash flows and profits is false? group of answer choices a. profits are no assurance that cash flow will be sufficient to maintain solvency. b. the cash flows generated in a given time period can differ from the profits reported. c. a company that sells merchandise at a profit will generate cash soon enough to replenish cash flows required for continued production. d. managers must be at least as concerned with cash flows as with profits.
Answers
The false statement among the given choices is option C. a company that sells merchandise at a profit will generate cash soon enough to replenish cash flows required for continued production.
Selling merchandise at a profit does not guarantee that a company will generate cash quickly enough to cover its operational expenses and maintain production levels. Profits are an essential measure of a company's financial success, but they don't always translate to immediate cash flow. Cash flow represents the actual inflow and outflow of money in a business during a specific period, while profits are the result of revenue minus expenses. It's important for a company to have positive cash flow to maintain solvency and cover its operational expenses, such as purchasing inventory, paying wages, and investing in business growth.
There can be several reasons for a difference between profits and cash flow, such as the timing of revenue recognition, credit sales, or investment in non-cash assets. For example, a company might sell products on credit, which will contribute to its profits but won't immediately generate cash. The cash will only be received once the customer pays the invoice, which could take days, weeks, or even months.
As a result, managers need to focus on both profits and cash flows to ensure the financial health and stability of their company. Balancing these two factors is crucial for sustaining operations and growth, as well as making informed decisions about investments, financing, and working capital management. Therefore the correct option is C.
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what can the organization use the porter five forces analysis to promote competitiveness in their industry?
Answers
Porter's 5 forces make up a study model of the competitive structure of an industry in which the following are analysed:
The bargaining power of customersThe bargaining power of suppliersThe threat from substitute productsThe threat from represent incoming products Porter's 5 forcesThese five elements are analyzed separately but interconnected, since each of them affects the organization's level of competition. By analyzing the threats of these competitive forces, we can determine our position in the market and understand why we have the current market share.
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what is 4+4x=8. What would x be???
Answers
The value of x that satisfies the equation 4+4x=8 is x = 1.
How to find the value xTo solve for x in the equation 4+4x=8, we need to isolate x on one side of the equation.
First, we can simplify the left side of the equation by combining the like terms:
4 + 4x = 8
4x = 8 - 4
4x = 4
Next, we can solve for x by dividing both sides of the equation by 4:
4x/4 = 4/4
x = 1
Therefore, the value of x that satisfies the equation 4+4x=8 is x = 1.
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what is the first step in creating the federal budget?
Answers
Answer:
The President Submits a Budget Request The president sends a budget request to Congress each February for the coming fiscal year, which begins on Oct. 1. 5
compared to market equilibrium, when there is a surplus
1 producer surplis is decreased and dwl is increased
2 consumer surplus is increased snd dwl is decreased
3 producer surplus is decreased and dwl is decreased
4 consumer surplus is decreased and dwl is increased
Answers
When there is a surplus in a market, it means that the quantity supplied by producers exceeds the quantity demanded by consumers at the prevailing market price.
In such a scenario, the market is not in equilibrium and there is a tendency for prices to fall until the surplus is eliminated. The correct answer to the question is (4) consumer surplus is decreased and deadweight loss (dwl) is increased.
When there is a surplus, the market price falls below the equilibrium price. This means that some producers will not be able to sell all of their goods, resulting in a decrease in their producer surplus. On the other hand, consumers can purchase the goods at a lower price than before, which increases their consumer surplus.
However, since the market is not in equilibrium, some potential consumers may choose not to buy the product, resulting in a deadweight loss (dwl) to the society as a whole.
In summary, a surplus results in a decrease in producer surplus, an increase in consumer surplus, and an increase in dwl. This illustrates the importance of market equilibrium in maximizing total welfare in a society by ensuring that resources are allocated efficiently.
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Complete question is : Compared to market equilibrium, when there is a surplus
1 producer surplis is decreased and dwl is increased
2 consumer surplus is increased snd dwl is decreased
3 producer surplus is decreased and dwl is decreased
4 consumer surplus is decreased and dwl is increased
If there is a surplus in a market, it signifies that producers have supplied more than what consumers are willing to buy at the going rate.
The market is not in equilibrium in such a case, and prices have a propensity to decrease until the surplus is gone. (4) Consumer surplus is reduced and deadweight loss (dwl) is increased is the right response to the question. The market price declines below the equilibrium price when there is a surplus. This implies that some producers won't be able to sell all of their products, which will cause their producer surplus to decline. Contrarily, customers can now buy the products for less money than they could previously, increasing their consumer surplus.
A deadweight loss (dwl) to society as a whole will occur if some potential customers decide not to purchase the product because the market is out of equilibrium. As a result, a surplus causes the producer surplus to decline, the consumer surplus to rise, and the dwl to rise. This shows how crucial market equilibrium is to increasing overall societal welfare by ensuring that resources are allocated effectively.
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place the following steps for assigning costs to units of product using process costing in order. instructions choice 1 of 5. identify the total costs to be accounted for. toggle button identify the total costs to be accounted for. choice 2 of 5. assign costs to batches of work toggle button assign costs to batches of work choice 3 of 5. compute the equivalent units of production. toggle button compute the equivalent units of production. choice 4 of 5. record the physical flow of resources. toggle button record the physical flow of resources. choice 5 of 5. compute costs per equivalent unit. toggle button compute costs per equivalent unit.
Answers
Process costing is a method that is utilized by companies to determine the manufacturing costs of the products.
The following are the steps to be followed to assign costs to units of product using process costing. Identify the total costs to be accounted for. Record the physical flow of resources. Compute the equivalent units of production. Assign costs to batches of work. Compute the costs per equivalent unit. Here is an explanation of the above steps in detail:1. Identify the total costs to be accounted for. The first step in the process costing method is to identify the total cost to be accounted for. This involves the identification of all the costs incurred during the production process. The costs may include direct materials, direct labor, and manufacturing overhead.2. Record the physical flow of resources. The second step is to record the physical flow of resources. This involves tracking the movement of materials and labor throughout the production process. The records should show when materials were received, when they were used, and when they were completed.3. Compute the equivalent units of production. The third step is to compute the equivalent units of production. This involves determining the number of units produced and the degree of completion of the production process.4. Assign costs to batches of work. The fourth step is to assign costs to batches of work. This involves allocating the total costs of production to the different batches of products.5. Compute the costs per equivalent unit. The final step is to compute the costs per equivalent unit. This involves dividing the total cost of production by the total number of equivalent units produced. This gives the cost per unit of production.
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