Suppose that the government imposes a $10 tax on humbugs. the pre-tax price of humbugs was $50, and neither supply nor demand is perfectly elastic or perfectly inelastic. if the government imposes the tax on sellers, which of the following is true? a) the full amount of the tax will be paid by the sellers. b) the full amount of the tax will be paid by the buyers. c) the equilibrium quantity of humbugs will not change. d) the price of humbugs will rise to $60. e) the price of humbugs will rise by less than $10.

Owning a word is a characteristic of a powerful a. productb. servicec. organization d. brand

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.

The role of the credit department includes: a. evaluating customers' credit applications to determine whether they meet the company's approval standards. b. approving all credit applications in order to avoid losing sales. c. collecting cash from customers. d. following unwritten approval standards for processing customers' credit applications.