Answer:
Tariffs are bans or taxes on stuff that gets imported and exported in and out of countries. This doesn't really affect consumers because they buy stuff and don't tend to notice. This does affect producers because they need supply to fill in the demand.
Note:
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Answer:
Tariffs hurt consumers because it increases the price of imported goods. Because an importer has to pay a tax in the form of tariffs on the goods they are importing, they pass this increased cost onto consumers in the form of higher prices.
Explanation:
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Han Products could save $20,000 per year by accepting the outside supplier's offer for part S-6, when factoring in all costs including ongoing fixed overhead and potential new facility rental income.
The financial advantage or disadvantage of accepting the outside supplier’s offer is determined by calculating the difference between current in-house production costs and the cost offer from the supplier, which includes any potential new income or ongoing overheads.
Currently Han Products’ cost for making 30,000 units of S-6 is $25 per part, or $750,000 per year. If they accept the supplier’s offer, they will pay $21 per part, or $630,000 per year. This already offers a clear cost savings of $120,000 per year.
However, Han Products will still need to pay two-thirds of the current fixed manufacturing overhead, which is $9 per part, or $270,000 per year. Two-thirds of that is $180,000. So, $630,000 (supplier cost) plus $180,000 (ongoing overheads) equals $810,000.
The company could also gain an additional $80,000 by renting out its facilities, bringing the total cost down to $730,000 per year. So, the financial advantage of accepting the outside supplier’s offer is $20,000 ($750,000 original cost - $730,000 total cost with supplier).
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The financial advantage or disadvantage of accepting the outside supplier's offer is determined by comparing the total cost per part if purchased from the outside supplier to the total cost per part if manufactured internally by Han Products. In this case, if Han Products accepts the offer, it would have a financial disadvantage of $2.00.
To determine the financial advantage or disadvantage of accepting the outside supplier's offer, we need to calculate the total cost per part if it is purchased from the outside supplier and compare it to the total cost per part if it is manufactured internally by Han Products.
If Han Products accepts the offer, the cost per part would be $21. However, there are certain costs that would still be incurred even if the part is purchased from the outside supplier, such as two-thirds of the fixed manufacturing overhead. Therefore, the total cost per part if purchased from the outside supplier would be:
$21 + (2/3) * $9 = $27
On the other hand, the total cost per part if manufactured internally would be $25.00 as given in the question.
Comparing the two costs, we can calculate the financial advantage or disadvantage as:
Total cost per part (internal manufacturing) - Total cost per part (purchased from outside supplier)
= $25.00 - $27.00 = -$2.00
This means that Han Products would have a financial disadvantage of $2.00 if it accepts the outside supplier's offer.
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They should have a different design than the business card.
They provide the contact information for a business.
They are seldom needed in small organizations.
Business cards and letterheads should be of similar design.
They have the same information as a business card.
Answer:
B- They provide the contact information for a business.
E- Business cards and letterheads should be of similar design
Explanation:
A letterhead is the heading found at the top of a paper and it usually includes the name of the organization, the logo and the contact information. The letterheads help to provide a professional image and consistency should be maintain in all the business stationery. According to that, the answer is that the two statements that describe letterheads are: they provide the contact information for a business and business cards and letterheads should be of similar design.
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Accounts Debit Credit
Cash $ 11,200
Accounts Receivable 142,000
Prepaid Rent 5,200
Supplies 26,000
Equipment 320,000
Accumulated Depreciation $ 127,000
Accounts Payable 11,200
Salaries Payable 10,200
Interest Payable 4,200
Notes Payable (due in two years) 32,000
Common Stock 220,000
Retained Earnings 52,000
Service Revenue 420,000
Salaries Expense 320,000
Rent Expense 16,000
Depreciation Expense 32,000
Interest Expense 4,200
Totals 847,800 876,600
Required:
Prepare an income statement for the year ended December 31, 2021.
FIGHTIN' BLUE HENS CORPORATION
Income Statement
For the Year Ended December 31, 2021
Expenses:
Total expenses
Answer:
Fightin' Blue Hens Corporation
Income Statement
For the year ended December 31, 2021
Service Revenue $420,000
Operating expenses:
Operating income $52,000
Other revenues and expenses:
Net income before taxes $47,800
*The totals of the trial balance sheet were added incorrectly, they both debit and credit total $876,600.
b. What is an example of a Veblen good?
c. Why do some consumers purchase Veblen goods?
Answer:
Find the answers below
Explanation:
A. Veblen goods are luxury goods sought after by wealthy people and for which these category of people increase their demand as the prices of the good increase (in contrast to the popular law of demand).
2. Examples are luxury houses or cars, jewelry etc.
3. Some customers buy these type of goods in order to show how wealthy they are or show their status.
A Veblen good is a luxury good that defies the law of demand by having an upward-sloping demand curve. An example is a luxury brand handbag. Some consumers purchase Veblen goods as a status symbol and for the exclusivity they confer.
a. A Veblen good is a type of luxury good that has an upward-sloping demand curve, meaning that as the price of the good increases, the quantity demanded also increases. This is contrary to the law of demand, which states that as the price of a good increases, the quantity demanded decreases.
b. An example of a Veblen good is a luxury brand handbag. As the price of the handbag increases, the demand for it also increases, as some consumers perceive the higher price as a status symbol and are willing to pay more for it.
c. Some consumers purchase Veblen goods because they derive satisfaction from owning and displaying luxury items as a symbol of their status and wealth. The higher price of Veblen goods can make them more desirable to certain consumers, as it signifies exclusivity and scarcity.
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B. The rate of unemployment decreased
C. Standard of living in Altaria increased
D. All of the above.
E. None of the above.
Based on the nominal GDP changes in Alteria over the years, we can conclude E. None of the above.
We cannot conclude that output increased by fourfold because we do not know the real GDP and the nominal GDP could simply have changed because of inflation.
We also cannot get information on the standard of living or unemployment rate from the nominal GDP.
In conclusion, the best option is D.
Find out more on nominal GDP at brainly.com/question/6348208.
Answer:
E. None of the above
Explanation:
because the price level is not known, we can not tell definitely that the output is increased or unemployment is decreased or standard of living is increased.
Therefore, we cannot conclude on anything.
Answer:
Only changes in the amounts being produced is the correct answer to this question.
Explanation:
Real GDP is the value of goods and services at base year prices so real GDP changes reflect changes in the amounts produced in the economy.
Effective gross domestic product ( GDP) is an inflation-adjusted indicator representing the cost of the goods and economic resources by a nation in a given year (demonstrated in foundation-year prices) and is often referred to as "current prices," "corrected deflation," or "constant currency" GDP.
Changes in real GDP reflect both changes in prices and changes in the amounts being produced.
Changes in real GDP reflect both changes in prices and changes in the amounts being produced. Real GDP is a measure of the total value of goods and services produced in an economy adjusted for inflation. As prices increase, the value of goods and services produced will also increase, resulting in a higher real GDP. Similarly, when more goods and services are produced, real GDP increases as well.
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