Answer:
The correct answer is letter "D": supply and demand determine prices and prices, in turn, allocate the economy's scarce resources.
Explanation:
In a Market Economy, economic decisions and prices are determined by market forces rather than by central planning. Market forces refer to the collective effects of all the decisions made by individuals participants in the economy such as consumers and businesses according to their free will.
In other words, supply and demand are the regulators of a Market Economy determining prices also allocating scarce resources.
Answer: $120000
Explanation:
Share of voice refers to the measure of the exposure that a particular business gets when it's being compared to other competitors. The share of market is the percentage of a market that a company earns.
From the information given, since 60% of the market sales equate to $240000 spent a year, then in order to achieve a market share of 30%, ½ of $240000 will be spent which is $120000. Therefore, Great Catch should be prepared to spend at least $120000 if it hopes to achieve a market share of 30 percent.
Answer:
$2,344,356
Explanation:
Given the above information,
June production :
Planned sales + ending inventory - beginning inventory
= (27,000 + 70 - 490) units
= 26,580 units
Total direct labor hour required for production
= 26,580 units × 4.2
= 111,636 labor hour
Cost of production
= Total direct labor hour × rate per hour
= 111,636 × $21
= $2,344,356
Answer:
A. NA = NA + NA NA -NA = NA NA NA
Explanation:
As Year 2 the customer paid Loudoun the $1,050,which was written off On April 4, Year 1.
Therefore, the following journal entries to record the transaction.
Accounts receivable debit $1,050
Allowance for doubtful accounts credit $1,050
To record reinstatement of accounts receivable.
Cash debit $1,050
Accounts receivable credit $1,050
As one asset account is increase and another asset account is decreased.
Answer:
5.79 times
Explanation:
The times interest earned ratio tells us the number of times the company's made earnings in multiple of its debt interest obligation.
The formula for times earned interest ratio is the income before interest and taxes divided by the interest expense.
income before tax is $302,634
income before interest and taxes= $302,634+$63,228=$365,862.00
times interest earned ratio=$365,862.00/
$63,228= 5.79 times