Suppose that Greece and Austria both produce fish and cheese. Greece's opportunity cost of producing a pound of cheese is 4 pounds of fish while Austria's opportunity cost of producing a pound of cheese is 10 pounds of fish. By comparing the opportunity cost of producing cheese in the two countries, you can tell that has a comparative advantage in the production of cheese and has a comparative advantage in the production of fish. Suppose that Greece and Austria consider trading cheese and fish with each other. Greece can gain from specialization and trade as long as it receives more than of fish for each pound of cheese it exports to Austria. Similarly, Austria can gain from trade as long as it receives more than of cheese for each pound of fish it exports to Greece. Based on your answer to the last question, which of the following terms of trade (that is, price of cheese in terms of fish) would allow both Austria and Greece to gain from trade? a. 18 pounds of fish per pound of cheese b. 9 pounds of fish per pound of cheese c. 1 pound of fish per pound of cheese d. 3 pounds of fish per pound of cheese

Aztic inc., a manufacturer of sports goods, plans to expand its operations to various other countries. during market research, it avoids countries where the dominant population is mostly rural. in this case, aztic inc. is assessing the of the countries

Exercise 8-6 goods in transit [lo8-2] the kwok company's inventory balance on december 31, 2016, was $190,000 (based on a 12/31/16 physical count) before considering the following transactions: 1. goods shipped to kwok f. o.b. destination on december 20, 2016, were received on january 4, 2017. the invoice cost was $35,000. 2. goods shipped to kwok f. o.b. shipping point on december 28, 2016, were received on january 5, 2017. the invoice cost was $22,000. 3. goods shipped from kwok to a customer f. o.b. destination on december 27, 2016, were received by the customer on january 3, 2017. the sales price was $45,000 and the merchandise cost $27,000. 4. goods shipped from kwok to a customer f. o.b. destination on december 26, 2016, were received by the customer on december 30, 2016. the sales price was $25,000 and the merchandise cost $18,000. 5. goods shipped from kwok to a customer f. o.b. shipping point on december 28, 2016, were received by the customer on january 4, 2017. the sales price was $30,000 and the merchandise cost $17,000. required: determine the correct inventory amount to be reported in kwok's 2016 balance sheet.

The new york company produces high quality chairs. variable manufacturing overhead is applied at a standard rate of $12 per machine hour. each chair requires a standard quantity of six machine hours. production for the month totaled 4,000 units. calculate: the standard cost per unit for variable overhead. select one: a. $130,000 b. $192,000 c. $90,000 d. $100,000