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2 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]2 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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Vogel Corporation's cost of goods manufactured last month was $136,000. The beginning finished goods inventory was $35,000 and t

rosijanka [135]

Answer:

117,000 adjusted COGS

Explanation:

$$$Beginning Inventory + Manufactured = Ending Inventory + COGS$

35,000 + 136,000 = 48,000 + COGS

COGS = 123,000 before adjustment

overapplied overhead for 6,000

This means the applied is higher than actual expenses, the cost is 6,000 lower we must decrease the COGS

123,000 - 6,000 = 117,000 adjusted COGS

6 0

2 years ago

A _________________ is a credit transaction where the money is transferred electronically from the customer's credit card compan

SpyIntel [72]

A. credit transaction
Your bank would pay the bill then either charge you for using their money or remove it from your "checking account" depends on the way you have it set up

5 0

3 years ago

Nike Inc is one of the world leading atheletic shoes manufacturer. The following activities occurs during the recent year: Purch

Ksenya-84 [330]

Explanation:

The journal entries are shown below:

1. Building A/c Dr $176

Equipment A/c Dr $270

To Cash A/c $408

To Note payable A/c $38

(Being the building and the equipment is purchased for cash and note payable)

2. Cash A/c Dr $345

To Common stock $240 (120 shares × $2)

To Additional paid in capital A/c - Common stock A/c $105

(Being the common stock is issued for cash)

3. Retained earnings A/c Dr $145

To Dividend payable A/c $145

(Being the dividend is declared)

4. Short - term investment A/c Dr $7,616

To Cash A/c $7,616

(Being the short term investment is purchased for cash)

5. No journal entry is required

6. Cash A/c Dr $4,413

To Short - term investment A/c $4,413

(Being the short-term investment is purchased)

8 0

2 years ago

Dorcan Corporation manufactures and sells T-shirts imprinted with college names and slogans. Last year, the shirts sold for $7.6

storchak [24]

Answer:

b. 18,602 units.

Explanation:

First, we need to use last year's information to determine last year's fixed costs.

Price (P1) = $7.68

Variable costs (VC1) = $2.25

Units sold to break-even (n1) = 21,800

At the break-even point, net income is zero and the fixed cost can be found by:

$N=0 = n_1*(P_1-VC_1) -FC_1\\0=21,800*(\$7.68-\$2.25) - FC_1\\FC = \$118,374$

With information from last, information for the current year can be determined:

Price (P2) = $10.00

Variable costs (VC2) = $2.25 x 1.3333 = $3.00

Fixed cost (FC2) = $118,374 x 1.10 = $130,211.4

The number of units required to break even is:

$N=0 = n_2*(P_2-VC_2) -FC_2\\0=n_2*(\$10-\$3) - \$130,211.4\\n_2 = 18,601.63\ units$

Rounding up to the nearest whole unit, Dorcan Corporation must sell 18,602 units to break-even.

7 0

2 years ago

On January 2, Year 1, Jones Corporation purchased a truck for $39,000. The truck has a 5-year estimated life and a $4,000 estima

In-s [12.5K]

Answer:

Straight-line method:

depreciation expense year 1 = ($39,000 - $4,000) / 5 = $7,000
depreciation expense year 2 = $7,000
depreciation expense year 3 = $7,000
depreciation expense year 4 = $7,000
depreciation expense year 5 = $7,000

200 declining balance method:

depreciation expense year 1 = 2 x 1/5 x $39,000 = $15,600
depreciation expense year 2 = 2 x 1/5 x $23,400 = $9,360
depreciation expense year 3 = 2 x 1/5 x $14,040 = $5,616
depreciation expense year 4 = 2 x 1/5 x $8,424 = $3,369.60
depreciation expense year 5 = $5,054.40 - $4,000 = $1,054.40

Sum-of-years-digits method:

depreciation expense year 1 = 5/15 x $35,000 = $11,666.67
depreciation expense year 2 = 4/15 x $35,000 = $9,333.33
depreciation expense year 3 = 3/15 x $35,000 = $7,000
depreciation expense year 4 = 2/15 x $35,000 = $4,666.67
depreciation expense year 5 = 1/15 x $35,000 = $2,333.33

8 0

2 years ago