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tiny-mole [99]
1 year ago
12

Fill in the blank question. the difference between a revenue or cost item in the planning budget and the same item in the flexib

le budget at the actual level of activity is a(n) _____variance.
Business
1 answer:
Kaylis [27]1 year ago
6 0

The difference between a revenue or cost item in the planning budget and the same item in the flexible budget at the actual level of activity is a(n) activity variance.

A flexible budget is a budget or financial plan of estimated cost and revenue for different output levels. The variation happens due to the change in the volume or level of activity.

It sets the standard to measure the variances of the budget estimates and the actual performance of the company for control purposes. Further, it can be prepared either for the whole company or a specific department or unit.

In brief, a flexible budget is a budget that distinguishes the behavior of fixed and variable cost that changes. And changes that happen with the level of activity attained, or change in the revenue or other variable factors.

Learn more about flexible budget here

brainly.com/question/16017304

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A candle manufacturer produces 4,000 units when the market price is $11 per unit and produces 6,000 units when the market price
mario62 [17]

Answer:

The option (b) 2.4 is correct.

Explanation:

We can find price elasticity of demand by using the formula shown in the attachment attached with.

Since we know the quantities of product associated with the market price of the product, by putting values in the equation we have:

Price elasticity of Demand =

= [(6000 - 4000) / (6000 + 4000)/2] / [(13 - 11) / (13+11)/2]

Price elasticity of Demand = 2.4

So this is how we can find the price elasticity of supply which says that the producers will respond to prices drop by producing lower quantity of product.

5 0
3 years ago
Say that Alland can produce 32 units of food per person per year or 16 units of clothing per person per year, but Georgeland can
bixtya [17]

Answer:

Georgeland has an absolute but not a comparative advantage in producing clothing.

Explanation:

Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.

Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.

Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.

In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.

3 0
3 years ago
_________ management emphasized internal operations because managers were concerned primarily with meeting the explosive growth
xenn [34]

Answer:

Systematic management

Explanation:

Systematic management is an approach of management which focus on the process of the management instead of the final outcome. The objectives of this approach to the management are:

To establish the particular procedures and processes to be used in the completion of the job task.

So, the systematic management is the one which focus on the internal operations as managers are concerned with the growth brought about through the Industrial Revolution.

5 0
3 years ago
Describe some of the actions taken by the monsanto corporation to control the seed industry:
koban [17]
<span>Some of the actions taken by the Monsanto Corporation to control the seed industry are: Purchasing of competing seed companies. Application of patents on Monsanto seeds. Forcing farmers to purchase new seed yearly instead of re-sowing existing seed. And lobbying for legislation in seed handling that favors Monsanto's processes.</span>
4 0
3 years ago
Read 2 more answers
There are four seats on the board of directors of MMT, Inc., up for election. The firm has 175,000 shares of stock outstanding a
Archy [21]

Answer:

We must spend $575,023 to acquire sufficient shares to guarantee your election to the board

Explanation:

To calculate the number of shares, the below formula will be used

Number of shares = [(S * X) / (D + 1)] + 1

S = Total number of shares, X = Number of seats you want to leave, D = Total number of seats

Number of shares = (175,000 * 1) / (4 + 1) + 1

Number of shares = (175,000 / 5) + 1

Number of shares = 35,000 + 1

Number of shares = 35,001

We control 35,001 if we wants to guarantee election to the board.

The additional no of shares that we need to buy is as calculated below as we already owns 10,000 shares

Cost = (Number of shares required - Number of shares already owned) * Price per share

Cost = (35,001 shares - 10,000 shares) * $23

Cost = 25,001 shares * $23

Cost = $575,023

Thus, it will cost us $575,023 to guarantee that we will be elected to the board.

4 0
3 years ago
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