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Levart [38]
1 year ago
6

the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases and the equilibrium quantity

of cabins rented increases.
Business
1 answer:
Roman55 [17]1 year ago
4 0

the price of summer cabins. as summer​ approaches, the equilibrium price of rental cabins increases, and the equilibrium quantity of cabins rented increases increase in demand.

When the price falls below the equilibrium price, the quantity demanded exceeds the quantity supplied, creating an excess demand (short supply) for the product. In other words, consumers want to buy more than producers are willing to sell. This mismatch between supply and demand drives up prices.

Price movements cause equilibrium movement along the supply curve. Such a movement is called a change in supply. Like changes in demand, changes in supply do not shift the supply curve. By definition, it is moved along the supply curve.

Learn more about equilibrium at

brainly.com/question/517289

#SPJ4

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Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) [LO 6-3, LO 6-4, LO 7-3] Skip to question [The following i
expeople1 [14]

Answer:

1-a. Dollars of gross profit from selling tags = $9,180

1-b. Dollars of gross profit from selling cases = $1,500

1-c. Gross profit percentage from selling tags = 72.86%

1.d. Gross profit percentage from selling cases = 83.33%

2-a. Tag yields more dollars of profit.

2-b. Tag yields more profit per dollar of sales.

Explanation:

Note: The requirements for this question are two not three as erroneously stated. This is because, the first and the third question are the same. Therefore, the two relevant requirements of the question are:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

The explanation of the answers is now given as follows:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

Sales revenue from tags = Sales value of 160 tags mailed to customers on Jan. 8 at a price of $30 per tag + Sales value of 260 tags mailed to customers on Jan. 21 at a price of $30 per tag = (160 * $30) + (260 * $30) = $12,600

Sales revenue from cases = Sales value of 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120 * $15 = $1,800

Total number of tags sold = 160 tags mailed to customers + 260 tags mailed to customers on Jan. 21 = 420

Total number of cases sold = 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120

Using FIFO, we have:

Cost of tags sold = Value of 260 tags purchased on Jan.2 from Xioasi Manufacturing (XM) at a cost of $7 per tag + Value of the remaining 160 (i.e. 420 – 260 = 160) tags sold based on the 360 tags purchased on Jan. 11 from XM at a cost of $10 per tag = (260 * $7) + (160 * $10) = $3,420

Cost of cases sold = Value of 60 cases purchased on Jan.4 from Bachittar Products (BP) at a cost of $2 per case + Value of the remaining 60 cases sold based on the 160 cases purchased on Jan. 14 from BP at a cost of $3 per case = (60 * $2) + (60 * $3) = $300

Therefore, we have:

1-a. Dollars of gross profit from selling tags = Sales revenue from tags - Cost of tags sold = $12,600 - $3,420 = $9,180

1-b. Dollars of gross profit from selling cases = Sales revenue from cases - Cost of cases sold = $1,800 - $300 = $1,500

1-c. Gross profit percentage from selling tags = (Dollars of gross profit from selling tags / Sales revenue from tags) * 100 = ($9,180 / $12,600) * 100 = 72.86%

1.d. Gross profit percentage from selling cases = (Dollars of gross profit from selling cases / Sales revenue from cases) * 100 = 83.33%

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

2-a. Which product line yields more dollars of profit?

From part 1 above, we have:

Dollars of gross profit from selling tags = $9,180

Dollars of gross profit from selling cases = $1,500

Since the dollars of gross profit from selling tags of $9,180 is greater than the dollars of gross profit from selling cases of $1,500, this implies that Tag yields more dollars of profit.

2-b. Which product line yields more profit per dollar of sales?

From part 1 above, we have:

Total number of tags sold = 420

Total number of cases sold = 120

Therefore, we have:

Tag's profit per dollar of sales = Dollars of gross profit from selling tags / Total number of tags sold = $9,180 / 420 = $21.86

Case's profit per dollar of sales = Dollars of gross profit from selling cases / Total number of cases sold = $1,500 / 120 = $12.50

Since Tag's profit per dollar of sales of $21.86 is greater than Case's profit per dollar of sales of $12.50, this implies that Tag yields more profit per dollar of sales.

6 0
3 years ago
When Get the Glare Out needed some information about the potential market for its product, the marketing team looked to the Inte
Romashka [77]

Answer:

secondary data.

Explanation:

Market research can be defined as a strategic technique which typically involves the process of identifying, acquiring and analyzing informations about a business. It involves the use of product test, surveys, questionnaire, focus groups, interviews, etc.

Secondary market research can be defined as a method designed to determine the demographics of a particular target market.

A secondary data can be defined as any form of data that has been obtained or collected earlier by someone else through primary sources for their own purpose and made readily available for other researchers to use. Thus, a secondary data is a type of data that has been previously obtained or collected.

In this scenario, the type of information the marketing team was using is referred to as secondary data because it looked to the Internet to find industry trends and at the market for eyewear products, which uses the same technology that is used in manufacturing its self-darkening windshield.

In conclusion, a secondary data is typically reliant or based on the primary source of information and as such it isn't a first hand experience.

4 0
3 years ago
Researchers at shipping giant Federal Express want to study delivery patterns and their relationship to customer complaints. Fed
Aleks04 [339]

<u>Full question:</u>

Researchers at shipping giant Federal Express want to study delivery patterns and their relationship to customer complaints. Federal Express uses a system that electronically tracks packages from the time a label is printed until it is delivered and a customer completes a satisfaction survey. Researchers could access this data by using _____.

A. Content Analysis

B. Bar codes

C. Field editing

D. Voice Recognition

E. None of the above

<u>Answer:</u>

Researchers could access this data by using Bar codes

<h3><u>Explanation:</u></h3>

Federal Express employs various barcodes on their shipping tags.  Federal Express SuperTracker handheld barcode scanner, prime preceded in 1986. The SuperTracker is a significant component of FedEx’s Consumers, Operations, and Services Master Online System handled to track parcels and authenticate distributions.

Rendering data about a package’s position, state, and action enhanced an essential component of delivery firms, with every significant carrier completing a package tracking system. Customer representatives, dispatchers, and distributing personnel practice the SuperTracker to scan barcodes on units as they pass by the Federal Express system.

7 0
2 years ago
In Angola in 2004, GNI is much less than GDP. Angola is an oil-exporting country. What is a plausible relationship between these
asambeis [7]

Answer:

The GDP includes the value of all the final goods and services produced in a country, while the GNI includes the value of all the final goods and services produced by the citizens of a country, regardless of where they are located.

Angola's GDP is higher than its GNI because many foreign companies must produce oil, and that increases GDP but is not included in the GNI).

4 0
2 years ago
What are some of the causes for Error 1921 when updating when using turbo tax?
nikdorinn [45]
Confirm that you have adequate benefits to stop framework administrations may happen when endeavoring to refresh TurboTax. This can be brought on by foundation forms that back your PC off or a deformity in the Microsoft.NET records on your system.Dec 28, 2016
3 0
3 years ago
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