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Dima020 [189]
3 years ago
12

Which of the following best describes a surplus?

Business
2 answers:
hodyreva [135]3 years ago
8 0
C their is more supply than demand
muminat3 years ago
7 0

Answer:

C. there is more supply than demand

Explanation:

surplus means extra so there's more in supply than demand

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Assume a company had the following production costs: Direct labor $ 2 per unit Direct material $ 3 per unit Variable overhead $
Mamont248 [21]

Answer:

Total production cost $ 14 per unit  Under absorption costing True

The total product cost per unit when 4,000 units are produced would be $22.50  False

Explanation:

Direct labor $ 2 per unit

Direct material $ 3 per unit

Variable overhead $ 4 per unit

Total variable $ 9 per unit

Fixed overhead ($50,000/10,000 units) $ 5 per unit

Total production cost $ 14

Production Costs involve the fixed costs under absorption Costing. So the total Product cost under absorption costing is $ 14.

When 4,000 units are produced the production costs are as follows

Absorption Costing: 4,000 * 14= $ 56,000

Variable Costing : 4000 * 9= $ 36,000

So the second statement is false.

3 0
3 years ago
Arianne has a passion for designing clothes and decides to open her own clothing store. she starts it by taking personal loans f
noname [10]
Arianne's store is an example of a SOLE PROPRIETORSHIP.

A sole proprietorship is the simplest business form among all businesses. It doesn't have a legal entity because its debts will be personally covered by its owner. All its profit and loss will be enjoys and paid for by Arianne and the coverage of its debts is unlimited. 
3 0
3 years ago
Read 2 more answers
Coffee and tea are substitutes in consumption. If there is an increase in the price of coffee, assuming a positively sloped supp
exis [7]

Answer:

Will increase

Explanation:

Substitutes are the goods which have high elastic demand or positive cross elasticity of demand. An increase in price substantially affects the demand for a substitute good. For example, if tea and coffee are substitutes, an increase in the price of coffee will increase the demand for tea and the overall surplus in the team market.

5 0
3 years ago
When the drawee of an unaccepted draft or check pays to a holder the amount due in full, all parties to the instrument are disch
aleksklad [387]
<span>The fraud protection process does offer protection for involved individuals so that they are not held financially responsible when activities are based on fraudulent circumstances.</span>
3 0
3 years ago
Local Co. has sales of $ 10.2 million and cost of sales of $ 5.7 million. Its​ selling, general and administrative expenses are
hoa [83]

Answer:

a. What is​ Local's gross​ margin? ​(Round to one decimal​ place.)

0.4412 / 44.12%

b. What is​ Local's operating​ margin? ​(Round to one decimal​ place.)

0.1618 / 16.18%

c. What is​ Local's net profit​ margin? ​​(Round to two decimal​ places.)

0.1049 / 10.49%

Explanation:

                                                  Local Co.

              Income Statement for the year ended MM DD, YY

                                                                            $, million

Sales                                                                         10.20

-Cost of sales                                                            <u> 5.70</u>

=Gross Income                                                          4.50

-Selling, general and administrative expenses      0.55

-Research and development                                    1.20

-Annual depreciation charges                                 <u> 1.10 </u>

=Operating Income                                                   1.65

-Tax rate of 35 %.                                                     <u> 0.58 </u>

=Net Income                                                             <u> </u><u>1.07 </u>

(a) Gross Margin = Gross Income / Sales = 4.50 / 10.20 = 0.4412 = 44.12%

(b) Operating Margin = Operating Profit / Sales = 1.65 / 10.20 =0.1618=16.18%

(c) Net Profit Margin = Net Income / Sales = 1.07 / 10.20 = 0.1049 = 10.49%

3 0
3 years ago
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