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2 years ago

S

1 answer:

6 0

The statement "Eventually, when the price of the phone fell to $300, demand for the product increased and profits began to soar." describes an equilibrium in supply and demand.

<h3>What is an equilibrium in supply and demand?</h3>

This refers to a situation whereby there is a balance in market supply and demand balance which as a result prices become stable.

Because there is a fall in phone price made the demand for the product increased and profits began to soar, this is an example of an equilibrium process.

Therefore, the Option C is correct.

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Vacation Pay and Pension Benefits Harvey Company provides its employees with vacation benefits and a defined contribution pensio

Bogdan [553]

Answer:

A. Dr Vacation pay Expenses $15,700

Cr Vacation pay payable $15,700

B. Dr Pension Expense $13,440

Cr Cash $13,440

Explanation:

a. Preparation of the journal entry to record the vacation pay

Dr Vacation pay Expenses $15,700

Cr Vacation pay payable $15,700

(Being to record Vacation pay accrued for the period )

b. Preparation of the Journal entry to record pension benefit

Dr Pension Expense $13,440

Cr Cash $13,440

(8%*$168,000)

(Being to record pension Contribution)

8 0

3 years ago

Complete the following table. 2. Suppose Sandy Bank sells its canoes for $530 each. Calculate the contribution margin per canoe

Arlecino [84]

Answer:

Unit contribution margin = price per unit-variable cost per unit

= $530 - 145

= $385

Ratio of margin of profit = profit margin / sales price

= 385 / 530

= 72.64%.

Sales = 800 * 530 = 424,000

Variable costs = 800 * 145 = 116,000

Sales of 800 units 448,000

Variable costs of 800 units 116,000

Contribution margin 308,000

Fixed costs 147,400

Income from operations 184,600

Break-even units = fixed costs / contribution margin per unit

= 147,400 / 385

= 382.85 units, rounded off to 383 units

Break-even sales revenue

= break-even units * sales price

= 383*530 = $ 202,990

For profit of 80,000, contribution margin = fixed costs + profit

= 147,400 + 80,000 = 227,400

Target sales units = contribution margin / contribution margin per unit

= 227,400 / 385

= 590.64 units, rounded off to 591 units

8 0

3 years ago

A firm's information policy includes rules that lay out who is responsible for updating and maintaining the information in a dat

melisa1 [442]

Answer:

True

Explanation:Information policy can be seen a singular set of policies made public by an organization to make sure that all her IT users in the domain or network of the organization comply with guidelines and regulation related to the protection of the information stored online/digitally at any point within the organization's boundaries of authority or in the network.

6 0

3 years ago

When businesses raise the price of a needed product or service after a natural disaster, this is known as .

Anon25 [30]

When businesses raise the price of a needed product or service after a natural disaster, this is known as price gouging. Price gouging is something that businesses do after a natural disaster when they know consumers are going to need a specific product or service so they raise the price because they know people are going to buy it anyways. An example of this is when they raise gas prices after a natural disaster, knowing people still need gas.

6 0

4 years ago

Read 2 more answers

. (Pitman 3.4.9) Suppose we play the following game based on tosses of a fair coin. You pay me $10, and I agree to pay you $n 2

Andrews [41]

Answer:

$6 per game

Explanation:

The probability of getting a head on a toss is given as 0.5 for a fair coin.

Therefore the expected number of times that the coin would be tossed to get the first head would be given as the expected value of the geometric distribution with parameter of p = 0.5. therefore the expected value here would be 1/0.5 = 2

Therefore, we expect to get 22 = 4 dollars but we paid initially $10, therefore in long run we expect to lose $6 per game.

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3 years ago

Read 2 more answers