Answer
B. Analyzing the external environment
Explanation:
The action of Procter and gamble can be classified as analyzing the external environment.
The external environment of a business are those factors outside the business organisation that is capable of influencing the decision and actions. The external environment factors includes economic factors, competitors, social - cultural factors etc.
The action of Procter and gamble of assessing the strength and weakness of his competitors prior to its entrance into the Eastern European market will assist the firm to identify the opportunities that it can leverage on in terms of the weakness of its competitors and and how well it can best improve its own services in other to match or surpass the strength displayed by its competitors
Answer and Explanation:
1. The computation of the predetermined overhead rate is shown below:
= Overhead applied ÷ direct material cost
= $846,000 ÷ $1,800,000
= 47%
2. The direct labor and overhead cost assigned to the job is shown below:
Total cost $89,000
Less: direct material cost $32,000
Less: overhead cost $15,040 ($32,000 × 0.47)
Direct labor cost $41,960
Answer:
b. small percentage changes in the price will lead to much larger percentage changes in the quantity demanded.
Explanation:
Price elasticity of demand is a measure of how responsive is quantity demanded to change in price. Its formula is given by:
= 
= % Change in Quantity Demanded / % Change in Price
So when absolute value is greater than 1, a x percentage change in price will lead to larger than x percentage change in quantity demanded.
<u>Note</u>: Whether the percentage change in quantity demanded will be just a little or very much larger than percentage change in price will depend on how much is larger than 1. But b is the still the best answer among the options.
Answer:
B. $42,000
Explanation:
Trade receivables refers total amounts that customers of a company are owing the company for goods or services sold to them.
For Michael Co., this can be calculated as follows:
Michael's total trade receivables = 3-month note due from Michael's main customer + Due and unpaid from this month's sales + Due and unpaid from last month's sales
Therefore, we have:
Michael's total trade receivables = $12,000 + $19,000 + 11,000 = $42,000.
Therefore, Michael's total trade receivables is $42,000.
