Business, 28.08.2019 04:00, aruhter9485
Clemmens company applies overhead based on direct labor cost. estimated overhead and direct labor costs for the year were $118,500 and $125,600, respectively. during the year, actual overhead was $108,000 and actual direct labor cost was $115,800. the entry to close the over- or underapplied overhead at year-end, assuming an immaterial amount, would include
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Business, 22.06.2019 00:30, johnkings140
Aprice ceiling is “binding” if the price ceiling is set below the equilibrium price. suppose that the equilibrium price is $5. if a price ceiling is set at $6, this will not affect the market in any way since $5 remains a legally allowable price (since $5 < $6). a price ceiling of $6 is called a “non-binding” price ceiling. on the other hand, if the price ceiling is set at $4, the price ceiling is “binding” because the natural equilibrium price is $5 but that is no longer allowed. what happens when there is a binding price ceiling? at a price below the equilibrium price, quantity demanded exceeds quantity supplied. there is a shortage. normally, price increases eliminate shortages by increasing quantity supplied and decreasing quantity demanded. in this case, however, price increases are not allowed past the price ceiling. we therefore predict that the observed market price will be right at the price ceiling and there will be a permanent shortage. the observed quantity bought and sold will be dictated by the quantity supplied at the price ceiling. although consumers would like to buy more, there are no more units for sale
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Business, 22.06.2019 12:30, ash011519
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Business, 22.06.2019 23:30, frankgore8496
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Business, 23.06.2019 00:00, Brandon4188
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Clemmens company applies overhead based on direct labor cost. estimated overhead and direct labor co...
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