Answer:
Direct labor time (efficiency) variance= $4,560 unfavorable
Explanation:
Giving the following information:
Standard= Direct labor 0.6 hours $ 24.00 per hour $ 14.40
Actual production= 3,500 units.
2,290 direct labor-hours were used.
<u>To calculate the direct labor efficiency variance, we need to use the following formula:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Standard quantity= 3,500*0.6= 2,100
Direct labor time (efficiency) variance= (2,100 - 2,290)*24
Direct labor time (efficiency) variance= $4,560 unfavorable
Answer:
The correct answer is the option C: an agreement among firms to charge the same price or otherwise not to compete.
Explanation:
To begin with, the name of <em>"collusion" </em>refers to an economy concept that focus on the situation where two or more companies decide to work together ilegally by taking a same strategy such as pricing the goods with a same amount so in that order the limit or at least intent to restrict the competion so in that way those firms can keep a piece of the market for themselves. It is consider ilegally in the countries because it is an disadvantage for the competition.
Answer:
The nature of the quarried material.
The volume of product
The area available and required.
Other potential hazards
Environmental considerations
Explanation:
In business stockpile refers to the materials that companies bought at large amount in a cheaper price. These materials are kept somewhere by the company to be used for emergencies.
There are several factors that can affect stockpiles:
The nature of the quarried material.
The only material that can be stockpiled need to have high shelf life. Things such as food ingredients tend to be hard to be stockpiled.
The volume of product
The amount of materials that stockpiled cannot be too large in volume. Otherwise it would be hard to be kept.
The area available and required.
Things such as warehouse or storage tend to be needed in order to stockpile materials.
Other potential hazards
Hazardous materials (that are poisonous or easily burnt) usually can't be stockpiled.
Environmental considerations
This is usually important when companies do the stockpiling underground. They need to ensure that the type of materials they stockpile wouldn't sipped into the ground and damage the environment around it
Answer:
A) Price elasticity of demand (PED) = 1
B) the PED is unitary
C) Danny's total revenue will decrease to $562.50
Explanation:
A) the formula for calculating price elasticity of demand is:
PED = % change in quantity demanded / % change in price
- % change in quantity demanded = (300 - 250) / 250 = 50 / 250 = 20%
- % change in price = ($2 - $2.50) / $2.50 = -$0.50 / $2.50 = -20%
PED = 20% / 20% = 1
B) the PED is unitary, it means that for every 1% change in the price, the demand will inversely change in 1%
C) since Danny lowered its price 20% from $2.50 to $2, he sold 20% more brownies, but his total revenue fell from $625 to $600. If he lowers his price even more, this time 25% to $1.50, his total sales will increase to 375 brownies, but his total revenue will continue to fall to $562.50
The correct answer is B) Doormart signed an agreement with Wallmart allowing both firms to engage in predatory pricing.
Wallmart is accused of predatory pricing by Doormart. Wallmart could defend itself against this accusation. The option that would not be one of their arguments would be "Doormart signed an agreement with Wallmart allowing both firms to engage in predatory pricing."
This option would be inconceivable because laws and regulations prohibit companies to sign an agreement that could be against the benefits of the American consumer. A situation like that could seem like an agreement "behind doors" that also hampers or hurts other competitors in the industry. Predatory pricing is an illegal practice aimed at eliminating other competitors in the market by setting very low prices. Something like this could create monopolies.