Definition of economic costs manuel lives in san diego and runs a business that sells guitars. in an average year, he re

Which of the following costs of publishing a book is a fixed cost?

Allisa [31]

Answer:

The correct answer is option d.

Explanation:

The fixed costs incurred in the production process of a good or service is the cost incurred on the fixed factors. These factors cannot be varied in the short run.

Fixed cost does not depend on the level of output. It does not change with the change in the volume of output.

In the given example, the cost incurred on the composition typesetting and jacket design for the book does not change with the volume of output. So these costs are the foxed cost involved in publishing a book.

8 0

3 years ago

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Explain how the legal, regulatory and ethical requirements relate to the business of selling or marketing

PIT_PIT [208]

<span>The scope of legal, regulatory and ethical requirements in a business consists of a range of procedures, actions and processes, which are designed to work within laws and regulations including ethical standards. These procedures are applicable to sales and marketing and the company has to ensure that these requirements are clearly understood and are up to date and truthful.</span>

6 0

3 years ago

Morocco desk co. purchases 6,000 feet of lumber at $6 per foot. The standard price for direct materials is $5. The entry to reco

Natali [406]

Answer:

Option (a) is correct.

Explanation:

Given that,

Lumber purchased = 6,000 feet

Cost per foot (actual price) = $6

Standard price for direct materials = $5

Cost of purchasing material:

= Quantity of lumber purchased × Price per foot

= 6,000 × $6

= $36,000

Direct materials price variance:

= (Standard Price - Actual Price) × Actual Quantity purchased

= ($5 - $6) × 6,000

= $6,000 Unfavorable

Therefore, the journal entry is as follows:

Direct Materials A/c Dr. $30,000

Direct Materials Price Variance A/c Dr. $6,000

To Accounts Payable 36,000

(To record the purchase and unfavorable direct materials price variance)

7 0

3 years ago

The accounting equation can be stated as

Alexxx [7]

Answer:

a

Explanation:

a

4 0

3 years ago

What best-cost provider strategy would you be most unlikely to recommend for a small-sized company entering a highly segmented m

Ainat [17]

Answer:

I would be most UNLIKELY to recommend a broad low-cost strategy to a small-sized company entering a highly segmented market.

Explanation:

I would NOT recommend a broad low-cost strategy because the <u>company size suggests it lacks the necessary resources to satisfy the various customer needs in a broad and highly segmented market.</u>

Instead, I would be most likely to recommend a Focused low-cost strategy with which the company can focus its limited resources on a specific narrow segment or niche in the market, and meet the needs of customers within that segment.

8 0

3 years ago