Select the items below that describe why scarcity exists.

People's wants are unlimited.

Resources are limited.

People try to conserve.

Reyes Corporation applies overhead using an actual costing approach. Budgeted factory overhead was $266,400, budgeted machine-hours were 18,500. Actual factory overhead was $287,920, actual machine-hours were 19,050.

2. Best Ever Toys just paid its annual dividend of $1.78 per share. The required return is10.6 percent and the dividend growth rate is 1.43 percent. What is the expected value of this stock five years from now

Sunland Co. has the following transactions related to notes receivable during the last 2 months of the year. The company does not make entries to accrue interest except at December 31. Nov. 1 Loaned $63,600 cash to C. Bohr on a 12-month, 9% note.

Henry Crouch's law office has traditionally ordered ink refills 50 units at a time. The firm estimates that carrying cost is 40 % of the $9 unit cost and that annual demand is about 235 units per year.

April received an inheritance from her grandmother in the form of an annuity. The annuity pays $3,000 on January 1st from 1966 through 1984.

Loring Company had the following data for the month:Variable costs per unit:Direct Materials $4Direct Labor 3.20Variable Overhead 1Variable selling expense 0.

Summer Nights sells bottles of bug spray for $8.00 each. Variable costs are $2.00 per bottle, while fixed costs are $40,000 per month for volumes up to 40,000 bottles of spray and $58,000 per month for volumes above 40,000 bottles of spray.

5 years ago, Barton Industries issued 25-year noncallable, semiannual bonds with a $900 face value and a 12% coupon, semiannual payment ($54 payment every 6 months). The bonds currently sell for $845.87.

Under the allowance method of accounting for uncollectible accounts, Bad Debt Expense is debited a. when a credit sale is past due. b. whenever an account is deemed worthless. c. whenever a predetermined amount of credit sales has been made. d.

An entrepreneur is someone who