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3 years ago

How does supply and demand affect prices?

2 answers:

4 0

There is an inverse relationship between the supply and prices of goods and services when demand is unchanged. If there is an increase in supply for goods and services while demand remains the same, prices tend to fall to a lower equilibrium price and a higher quantity of goods and services.

irakobra [83]3 years ago

3 0

The higher the supply the lower the price will be and the higher the demand the higher the price will be. This means that they have an inverse relationship. In short, the more you need something the more you're willing to pay for it, and the less you need it the less you want to pay, and this is basically how the economy works when producing and selling.

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Cupid Co. manufactures dog toys. One of its most popular products, Bacon Ben, has the following costs to produce 1,000 units: $9

Gennadij [26K]

Answer:

3,520= direct labor

Explanation:

Giving the following information:

Bacon Ben, has the following costs to produce 1,000 units:

$9,600 direct materials

$1,920 in advertising costs

$960 plant manager salary

$640 salaries for factory maintenance

To calculate the direct labor cost we need to use the following formula:

Total manufactured cost= direct materials + direct labor + allocated manufacturing overhead

Total manufactured cost= 1,000*14.72= $14,720

Direct material=9,600

Overhead= plant manager salary + salaries for factory maintenance

Overhead= 960 + 640= 1,600

14,720= 9,600 + direct labor + 1,600

3,520= direct labor

8 0

3 years ago

Yvette is considering taking out a loan with a principal of $16,200 from one of two banks. Bank F charges an interest rate of 5.

zhannawk [14.2K]

Yvette should choose Bank F’s loan if she wants more about lower monthly payments, and she should choose Bank G’s loan if she wants more about the lowest lifetime cost.

These are the calculations for each bank.

BANK F:
Annual Payments=$210.53
Total Interest=$4,011.13

BANK G:
Annual Payments=$238.21
Total Interest=$3,810.05

7 0

3 years ago

Read 2 more answers

Hoi Chong Transport, Ltd., operates a fleet of delivery trucks in Singapore. The company has determined that if a truck is drive

Anvisha [2.4K]

Explanation:

The computation of the fixed cost and the variable cost per hour by using high low method is shown below:

Variable cost per hour = (High Operating cost - low operating cost) ÷ (High driven in kilometers - Low driven in kilometers)

where,

High operating cost = 114,000 km × 12.7%

= $14,478

Low operating cost = 76,000 km × 14.8%

= $11,248

So,

= ($14,478 - $11,248) ÷ (114,000 km - 76,000 km)

= $3,230 ÷ 38,000 km

= $0.085 per km

Now the fixed cost equal to

= High operating cost - (High driven in kilometers × Variable cost per km)

= $14,478 - (114,000 km × $0.085)

= $14,478 - $9,690

= $4,7882

2. The equation is as follows

Y = a + bx

So,

Total cost = $4,788 + 0.085X

Y = a + bx

= $4,788 + 0.085 × 95,000

= $4,788 + $8,075

= $12,863

5 0

3 years ago

(Predetermined OH rates; capacity measures) Albertan Electronics makes inexpensive GPS navigation devices and uses a normal cost

Jet001 [13]

Answer:

Albertan Electronics

a. Albertan Electronics’ predetermined variable OH rate is $20.50.

b. The predetermined FOH rate using practical capacity is $8.00.

c. The predetermined FOH rate using expected capacity is $12.00.

d1. The variable overhead applied is $1,375,000.

d2. The fixed overhead applied using the rate in (b) is $880,000.

d3. The fixed overhead applied using the rate in (c) is $1,320,000.

d4. The total under-applied overhead for 2010 at $8.00 FOH rate is $455,000 and the total under-applied overhead for 2010 at $12 FOH rate is $15,000.

Explanation:

a) Available 2010 budgeted data:

Variable factory overhead at 100,000 machine hours $1,250,000 ($12.50)

Variable factory overhead at 150,000 machine hours 1,875,000 ($12.50)

Fixed factory overhead at all levels between 10,000 and 180,000 machine hours = 1,440,000 ($8.00)

Practical capacity is 180,000 machine hours; expected capacity is two-thirds of practical (120,000) = $12 ($1,440,000/120,000)

Predetermined Overhead Rate:

Variable factory overhead = $12.50

Fixed factory overhead = 8.00

Predetermined overhead rate = $20.50

During 2010, the firm records 110,000 machine hours and $2,710,000 of overhead costs. How much variable overhead is applied? How much fixed overhead is applied using the rate found in part (b)? How much fixed overhead is applied using the rate found in part (c)? Calculate the total under- or overapplied overhead for 2010 using both fixed FOH rates.

Variable overhead applied = $12.50 * 110,000 = $1,375,000

Fixed overhead applied with $8 * 110,000 = 880,000

Total overhead applied $2,255,000

Underapplied overhead = ($2,710,000 -2,255,000) 455,000

Variable overhead applied = $12.50 * 110,000 = $1,375,000

Fixed overhead applied with $12 * 110,000 = 1,320,000

Total overhead applied $2,695,000

Underapplied overhead = ($2,710,000 -2,695,000) 15,000

6 0

3 years ago

The primary policy tool used by the fed to meet its monetary policy goals is.

Makovka662 [10]

The primary tool used by the Fed to achieve monetary policy goals is Open Market Operations.

<h3>What are Open Market Operations (OMO)?</h3>

This refers to the trading of securities by the fed.
Securities traded include bills, notes, and bonds.

When the fed wants to increase the money supply, they will buy these securities from the public. If it is a decrease they they seek, they will sell securities to the public.

In conclusion, this is Open Market Operations.

Find out more about Open Market Operations at brainly.com/question/14256204.

5 0

2 years ago