A cartel differs from a monopoly in that B) businesses making the same product agree to limit production. A cartel is an agreement between producers of goods, usually primary products like oil or natural gas, who work together to set a price at an agreed upon price that is a distortion above of what the market's equilibrium price would be for the good without the cartel's intervention.
<span>After decreasing Nominal & Real GDP, the Federal Reserve will engage in Contractionary Monetary Policy. The answer is letter B. IF the Federal Reserve increases the amount of monetary growth, the economic theory shows that it will decrease in the short run but will increase eventually in the long run from their initial value.</span>
Answer:
a. Journalize the adjusting entry for the estimated customer allowances.
- Dr Sales returns and allowances 10,500
- Cr Customer refunds payable 10,500
The adjusting entry should = total sales x estimated percent of returns = $1,750,000 x 0.6% = $10,500
b. Journalize the adjusting entry for the estimated customer returns.
- Dr Estimated returns inventory 8,000
- Cr Cost of merchandise sold 8,000
This amount is given in the question, $8,000, so you need to record it as a decrease in COGS and an increase in returns inventory.
Answer:
The Capacity utilization rate is 73.94 units per hour for the month.
Explanation:
Provided data,
Output rate = 160 units per hour
In the month of July,
Total production hour = 295 hours.
Total units = 34900 units.
Ideal output units in the month of July = output rate × total production hour
= 160 × 295
= 47200 units.
Capacity utilization rate of production shop is given by,
Utilization rate = (output unit in July ÷ idea output) × 100
= (34900 ÷ 47200) × 100
= 0.7394 × 100
= 73.94 units per hour
So, the Capacity utilization rate is 73.94 units per hour for the month.