Answer:
Downward sloping curve with 300 intercept on mini sandwich axis, 150 intercept on melon spices
Explanation:
PPC reflects production combinations (2 goods), which can be produced given same resources & technology. It is downward sloping because of inverse relationship between two goods, one good increase leads to other good decrease - given same resources & technology.
In this case, it is with analogous factors : production possibilities with respect to unlimited ingredients (resources), limited time. Although resources are given to be unlimited, PPC is likely to be downward sloping : because of inverse relationship between goods - based on time constraint (one good increase will withdraw time from other good & reduce it).
The PPC intercept on X & Y axis represents the maximum amount of that axis good, which can be produced. So: it has 300 intercept on mini sandwich axis, 150 intercept on melon spice axis.
The slope & shape of PPC depends on Marginal Opportunity Cost, which depends on relative efficiency of resources in two goods.
Resources equally efficient - Constant Good Sacrifise Ratio i.e MOC - PPC straight line. Resources unequally efficient - Increasing Sacrifise Ratio (from efficient to inefficient good) i.e MOC rising - PPC Concave. Increasing Sacrifise Ratio (from inefficient resources to efficient resources) i.e MOC falling - PPC Convex.
If MOC between mini sandwiches & melon spices is constant, PPC is straight line . If MOC between them is rising, PPC is concave. If MOC between them is falling, PPC is convex.
Answer:
B is the correct option
Explanation:
Inventory is the most important asset of a business. It is the finished goods used in the production which a company owns. On the balance sheet, it is divided current assets as it serves as a buffer between manufacturing and order fulfillment. If an inventory is sold carries the cost transfer to the cost of goods sold (COGS) category. It is categorized as raw materials, work in progress and finished goods. Raw materials are the materials required to produce a good. work in progress inventory is partially finished goods waiting for the completion and sale. Finished goods are the products which are complete and ready for the sale.
Answer:
Explanation:C. $1,000 debit to sales revenue
Answer:
equivalent unit of production for period in conversion cost is 42000 EU
Explanation:
Given data
during period P = 35000 units
ending work W = 14000 units
complete C% = 50%
to find out
equivalent units of production
solution
we know that 35000 units work is complete and transferred during period and
50% complete with ending work 14000 units
so that
Equivalence unit production is W x C% + P
= 14000 x 50% + 35000 = 42000
so equivalent unit of production for period in conversion cost is 42000 EU
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