Answer:
A. A cargo plane
Explanation:
In Economics, factors of production are used for the manufacturing of goods and services in order to meet the unending needs or requirements of the consumers at a specific price and period of time. The four (4) factors of production are;
I. Land.
II. Labor.
III. Entrepreneurship.
IV. Capital.
Physical capital can be defined as any tangible, artificial goods which are typically used for the production of finished goods or services. Therefore, it comprises of building, computer, machinery or equipment, office utilities, cash, vehicles, etc.
Hence, a cargo plane is an example of physical capital in an economy because it is a tangible, man-made equipment used for the transportation of people or goods from one location to another.
A cargo plane is an example of physical capital in an economy.
Physical capital in an economy refers to the assets and infrastructure used to produce goods and services. Among the options provided, the A. cargo plane is an example of physical capital. It is a tangible asset that is used to transport goods, contributing to the production process and economic activity.
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Answer:
Instructions are below.
Explanation:
We weren't provided with enough information to answer the requirements. But, I will provide the formulas.
1) Contribution margin:
CM= selling price - unitary variable cost
2) contribution margin ratio:
contribution margin ratio= contribution margin / selling price
3) break-even point in units
Break-even point in units= fixed costs/ contribution margin per unit
4) break-even point in sales dollars:
Break-even point (dollars)= fixed costs/ contribution margin ratio
Answer:
See explanations below
Explanation:
Kind find attached solution. Please note that 3,300 units was used for the alternative.
Answer:
2021 = 9.2 times
2022 = 10.4 times
Explanation:
Accounts receivable turnover measure the average times the company received their receivable, It measure the efficiency of the company regarding collection from customers. Turnover will be higher if company has low ratio of receivables to sales value.
2022 2021
Average accounts receivable $539,000 $577,000
Net sales on account $5,605,600 $5,308,400
Accounts receivable turnover = Net Sales / Average Receivable
2021
Accounts receivable turnover = $5,308,400 / $577,000
Accounts receivable turnover = 9.2 times
2021
Accounts receivable turnover = $5,605,600 / $539,000
Accounts receivable turnover = 10.4 times
Answer:
2022 accounts receivable turnover = 10.4 times
2021 accounts receivable turnover = 9.2 times
Explanation:
Accounts receivable turnover can be described as the number times it takes a company to collect its average accounts receivable within a specified accounting period, usually a year. It is used as a measure of efficiency of a company in collecting account receivables in a timely manner.
Accounts receivable turnover is therefore a ratio of net sales on account to the Average accounts receivable within a specified year. This can be stated as follows:
Accounts receivable turnover = Net sales on account/Average accounts receivable ………. (1)
Using equation (1), accounts receivable turnover for 2022 and 2021 can be calculated as follows:
2022 accounts receivable turnover = $5,605,600/$539,000 = 10.4 times
2021 accounts receivable turnover = $5,308,400/$577,000 = 9.2 times
The results imply that Marigold Company is more efficient in collecting account receivable in 2021 than 2022, because it takes fewer number of times in 2021, 9.2 times, than in 2022, 10.4 times.
Although the benefit principle of taxes is founded on two notions, it is critical for business administration students to learn and understand the fundamental principles of income taxation. The first and most important point is that people who gain from services should pay for them. Second, taxation should be proportional to the amount of benefits or services received.
An income tax is generally a tax levied on persons or corporations (taxpayers) based on their earnings or profits (often referred to as taxable income). In most cases, income tax is calculated as the result of a tax rate multiplied by the taxable income.
Taxation rates may differ depending on the taxpayer's attributes and the source of income.
Learn more about income, here:
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The benefit principle of taxation is based on two ideas. The first and foremost is that those who benefit from services should be the ones who pay for them. Secondly, people should pay taxes in proportion to the amount of services or benefits they receive.
Explanation:
HOPE IT HELP U MAKE
Answer:
Y = 83.2 + 2.29x1 + 1.30x2
Y = 83.2 + 2.29(4) + 1.30(1.5)
Y = 83.2 + 9.16 + 1.95
Y = 94.31(thousand)
Y = $94,310
The gross revenue is $94,310
Explanation:
In this case, the estimated regression equation has been given. Since x1 is $4,000 and x2 is $1,500, then, we will substitute these values for x1 and x2 in the equation. The addition of all values after the substitution gives the gross revenue.
b. What would be the effect of this purchase on income before income taxes using FIFO method?
Answer:
1. Net income decreases by $3,000
2. The amount of net income would be remains the same.
Explanation:
1. Under LIFO method
(i) Before 8,000 units purchased:
sales = 67,000 units
Cost of goods sold = Quantity × Price
= (66,000 × $13) + (1,000 × $10)
= $858,000 + $10,000
= $868,000
(ii) If 8,000 units purchased at $13 each then,
Cost of goods sold = Quantity × Price
= 67,000 × $13
= $871,000
As the cost of goods increases as a result there will be decrease in the net income before tax under LIFO method.
The amount of net income would be decreased by:
= $871,000 - $868,000
= $3,000
2. Under FIFO method:
(i) Before 8,000 units purchased:
sales = 67,000 units
Cost of goods sold = Quantity × Price
= (16,000 × $10) + (51,000 × $13)
= $160,000 + $663,000
= $823,000
(ii) If 8,000 units purchased at $13 each then,
Cost of goods sold = Quantity × Price
= (16,000 × $10) + (51,000 × $13)
= $160,000 + $663,000
= $823,000
As there will be no change in the cost of goods sold, so, there will be no change in the net income before tax under FIFO method.
The amount of net income would be remains the same.