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2 years ago

If the price of a product increases, the demand for the resource used in producing that product decreases.

1 answer:

6 0

Economists call this the law of demand. As the price of a product increases, the quantity demanded decreases (but the demand itself remains the same). If the price falls, the quantity demanded will increase.

Resource Prices – Rising resource prices lead to a decrease in supply or a leftward shift in the supply curve. Falling resource prices lead to an increase in supply or a rightward shift in the supply curve.

An increase in demand shifts the demand curve to the right and a decrease in supply shifts the supply curve to the left.

A decrease in demand leads to a decrease in the equilibrium price. Less quantity to deliver. An increase in supply leads to a product decrease in the equilibrium price, all other things being equal. Demand increases.

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The following data have been recorded for recently completed Job 450 on its job cost sheet. Direct materials cost was $2,057. A

cestrela7 [59]

Answer:

Total Manufacturing Cost = $9,347

Explanation:

Total cost for the job 450 is as follows:

Direct material = $2,057

Direct labor = $888 (Note - 1)

Overhead cost = $6,402 (Note - 2)

Total Manufacturing Cost = $9,347

Note - 1: Direct labor = Direct labor-hours × Direct labor wage rate

Given,

Direct labor-hours = 37 hours

Direct labor wage rate = $24 per labor-hour

Direct labor = 37 hours × $24 per labor-hour

Direct labor = $888

Note - 2: Overhead cost = Machine-hours × predetermined overhead rate

Given,

Machine-hours = 194 hours

predetermined overhead rate = $33

Overhead cost = 194 hours × $33 = $6,402

3 0

3 years ago

Alexander has found that both commercial and residential real estate buyers respond positively to his marketing communication me

ioda

Answer:

Market segment

Explanation:

Consumers that share similar interest are grouped together to form a market segment. This is a marketing strategy to direct marketing communication to such groups expecting similar response from them.

This way the organization will be able to identify target customers and ensuring that marketing activities are successful.

Here, Alexander has identified market segment in commercial and real estate buyers as their response are similar to the marketing communication.

5 0

3 years ago

Standard Quantities Allowed of Labor and MaterialsMiel Company produces ready-to-cook oatmeal. Each carton of oatmeal requires 1

jok3333 [9.3K]

Answer:

Part I :

1) Total amount of oats allowed = 960000*16 = 15360000 ounce

2) Total amount of labor hours allowed = 960000*.04 = 38400 Hours

Part II :

1) Total amount of oats allowed = 750000*17 = 12750000 ounce

2) Total amount of labor hours allowed = 750000*.04 = 30000 Hours

4 0

3 years ago

There is a 4 percent error rate at a specific point in the production process. If an inspector is placed at this point, all the

Vsevolod [243]

Solution and Explanation:

The given data is as follows:

Error rate = 4%, per hour payment of inspector = $8, inspection of units = at the rate of 49 per hour, cost = $9 per unit

The problem can be solved as considering an opportunity to have an improvement of 4% in the quality.

In case inspector is not hired then it will cost .04 multiply 9= $.3.6 per unit and in case the inspector is hired it will cost $ 0.163 approx.(8 divided by 49).

Therefore, on comparison, it is recommended to hire the inspector.

8 0

2 years ago

Product Managers are expected to collaborate in planning the amount of upcoming Enabler work by establishing what?

Ann [662]

Answer:

Product Managers are expected to collaborate in planning the amount of upcoming Enabler work by establishing capacity allocation:

Explanation:

For the work that is upcoming, team backlog prioritization has nothing to do as it is done when there is a need to finish the pending work before the next work is allotted.
By performing capacity allocation, the right personnel and resources can be implemented for the right work well before the work is handed over.

7 0

3 years ago