Answer:
d. backorder
Explanation:
Based on the scenario being described within the question it can be said that the sales associate most likely offered to backorder the item for Linda. This is when a retailer places an order for a product that is no longer in stock for the time being, in order to comply with the customer, but will take a while for that order to come in and for the transaction to be completed.
Answer:
producer surplus
consumer surplus
neither
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.
Consumer surplus = willingness to pay – price of the good
The highest amount i was willing to buy the watch is $71 but the price was $65. this illustrates a consumer surplus
Producer surplus is the difference between the price of a good and the least price the seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
The least amount the textbook seller was willing to sell was $48 while the price the textbook was sold was $54. thus, a illustrates a producer surplus.
for statement c, a transaction did not take place, so, it is neither a producer or consumer surplus
Answer:
Computing a cost rate per production is not part of activity based costing
Explanation: The cost rate per production is computed in the traditional Absorption costing to allocate the overhead costs to unit products.
Answer:
There are 6 customers in the barber shop on an average.
Explanation:
As per the Little's law, the average number of costumers or individuals in a system (L) can be calculated by multiplying the average arrival rate (λ) and the average time each customer spends in the system (W).
The algebraic expression, is as follows:
L = λW
Here,
L=inventory or average number of customers in the system.
λ=arrival rate = 10
W=flow time average customer spends in the system = 0.6
L = 0.6 * 10 = 6
Thus, there are 6 customers in the barber shop on an average.