If Anderson works 37 hours each week as a clerk at the county courthouse, he is supplying labor in an

1.mixed output input market. Anderson is considered

2. household firm . If Mei Lin purchases a 3-week Mediterranean cruise vacation for her parents, the cruise ship company is supplying a service in the

3. input output mixed market. The cruise ship company is considered

4. household firm . If Caterpillar doubles employment at its Huntsville, Alabama factory, Caterpillar is demanding labor in the

5. input output mixed market. Caterpillar is considered a

6. household firm . If the Greyson family sells their 250-acre ranch to Marriott, so Marriot can build a new resort and golf course, the Greyson family is supplying land in an

7. input output mixed market. The Greyson family is considered

8. a firm household .

At the beginning of the accounting period, nutrition incorporated estimated that total fixed overhead cost would be $50,600 and that sales volume would be 10,000 units. at the end of the accounting period actual fixed overhead was $56,100 and actual sales volume was 11,000 units. nutrition uses a predetermined overhead rate and a cost plus pricing model to establish its sales price. based on this information the overhead spending variance is multiple choice $5,500 favorable. $440 favorable. $5,500 unfavorable. $440 unfavorable.

How will firms solve the problem of an economic surplus a. decrease prices to the market equilibrium price b. decrease prices so they are below the market equilibrium price c.increase prices

For each separate case below, follow the 3-step process for adjusting the prepaid asset account at december 31. step 1: determine what the current account balance equals. step 2: determine what the current account balance should equal. step 3: record the december 31 adjusting entry to get from step 1 to step 2. assume no other adjusting entries are made during the year. a. prepaid insurance. the prepaid insurance account has a $4,700 debit balance to start the year. a re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end. b. prepaid insurance. the prepaid insurance account has a $5,890 debit balance at the start of the year. a review of insurance policies and payments shows $1,040 of insurance has expired by year-end. c.prepaidrent.onseptember1ofthecurrentyear,thecompanyprepaid$24,000 for 2 years of rentfor facilities being occupied that day. the company debited prepaid rent and credited cash for $24,000.