Answer:
using this information can result in time and cost savings
Explanation:
Answer:
False
Explanation:
If the demand is uncertain, if you use average demand to calculate the economic order quantity (EOQ), you will have a high probability of a stock-out occurring.
EOQ = √(2DS / H)
where:
D = annual demand in units
S = order cost per purchase order
H = holding cost per unit, per year
If D is uncertain, then the whole calculus will either be understated or overstated.
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Answer:
Differences in Operating Incomes Under Absorption Costing and Variable Costing:
The 2020 operating income under absorption costing is greater than the operating income under variable costing because
the ending inventory has carried over some fixed manufacturing costs, making the cost of goods sold less than under variable costing.
Explanation:
The differences in the operating incomes obtained under variable costing and absorption costing are due to the fixed manufacturing costs that are included in the ending inventory and carried forward to the next accounting period while the ending inventory under variable costing does not include any fixed manufacturing costs. Absorption costing is based on full costing system but, variable costing does not include the full costs.
Answer:
No
Explanation:
to determine if another 10% decrease in the price cause another 8% increase (no more and no less) in quantity demanded, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
8% / 10% = 0.8
demand in inelastic so a 10% reduction in price would lead to a less than 8% change in quantity demanded
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one
