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2 years ago

For which market structure do economists have the least precise model of price determination?

1 answer:

4 0

The market structure for which economists have the least precise model of price determination is oligopoly.

Oligopoly is a market structure in which a small number of firms has the large majority of market share.

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Genie in a Bottle Company (GBC) manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two

yan [13]

Answer:

See below.

Explanation:

Since the costs are per 100, to calculate total standard we multiply by 400,000/100 = 4000 and actual qty then is 4060.

For A, standard cost budget at standard prices.

Direct Labor (2*4000) = $8,000

Direct Material (9.1*4000) = $36,400

Factory Overhead (0.55*4000) = $2,200

Total = $46,600

For B, The total cost variances are as follows,

Material cost variance = (Standard Price - Actual Price) * Actual Quantity

where, Standard price = 9.1 and Actual price = (35750/4060) = $8.81

Variance = (9.1 - 8.81) * 4060 = $1177.4 Favorable

Direct labor cost variance = (Standard rate - Actual Rate) * Actual Quantity

where, Standard rate = 2 and Actual rate = (7540/4060) = $1.86

Variance = (2-1.86) * 4060 = $568.4 Favorable

Factory Overhead variance

= Standard applied - Actual applied

Variance = (0.55*4060) - 2680 = $447 Unfavorable

Net effect on total cost variances = (1177.4+568.4-447) = $1298.8 Favorable

For c)

The over all cost performance has favored the business as they ere able to lessen costs in direct labor and material department. However, the fixed costs performance has deteriorated and there may be some technical issues that the company can deal with to ensure they perform better on fixed costs. The over all performance is favorable.

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3 years ago

Which of the following statements about renting & owning is CORRECT?

elena55 [62]

They both share responsibility and control over the property

7 0

3 years ago

Read 2 more answers

For each of the following accounts, identify whether that item is an asset, liability, or equity account. Account Classificati

Ulleksa [173]

Answer:

a. Bonds payable Liability account

b. Equipment Asset account

c. Accounts payable Liability account

d. Salaries payable Liability account

e. Common stock Equity account

f. Retained earnings Equity account

g. Cash Asset account

h. Accounts receivable Asset account

i. Sales revenue Equity account

j. Inventory Asset account

Explanation:

All the assets account is debit in nature, so the equipment, cash, account receivable and Inventory accounts are debit in nature and these are classified as asset.

All the account with credit nature is either classified as Liability or Equity accounts. Equity accounts are common stock, retained earning and sales revenue. Liabilities accounts are bond payable, account payable and salaries payable.

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3 years ago

"I’m not sure we should lay out $250,000 for that automated welding machine," said Jim Alder, president of the Superior Equipmen

NikAS [45]

Answer:

The annual net cost savings promised by the automated welding machine

Annual Costs savings in replacing 6 welders $108,000

Reduced Material costs $6,500

Total annual Costs savings = $114,500

Note there is a $3,000 annual maintenance cost that will then be taken off this savings amount to make up the Annual Net cash inflow of $111,500

A. The Net Present value is $72,227. Kindly refer to the attached document for the clear presentation

B. The project should be accepted because it delivers a positive NPV. Meaning the net benefit outweighs the cost of owning the new Assets.

The Discounted net Cash flow for the 6 years (aside the initial outlay) is $402,227.

Annually this comes to $67,038.

The benefit the business gets in the switch to the automatic welders is approximately $67,038 annually.

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3 years ago

A _____ chart shows individual figures at a specific time, or shows variations between components but not in relation to the who

Yanka [14]

Answer:

Bar chart

Explanation:

A bar chart can as well be regarded case a "bar graph", it can be explained as a chart/graph that gives the representation of categorical data as a

rectangular bars, where the height of the rectangular bars will equal to the data values they are representing. This bars could be horizontally or vertically plotted. It should be noted that bar chart shows individual figures at a specific time, or shows variations between components but not in relation to the whole.

4 0

3 years ago

For which market structure do economists have the least precise model of price​ determination?

For which market structure do economists have the least precise model of price determination?