All categories

3 years ago

Which of the following is a product that is considered a commodity?

1 answer:

4 0

A commodity is defined as raw material or product that can be bought and sold. It is a marketable item that is to satisfy the wants and needs of the consumers. Among the given products above, the one that is considered as a commodity is option B. low grade gasoline. A gasoline is considered as an energy commodity.

You might be interested in

Computing absorption cost per unit and variable cost per unit Adamson, Inc. has the following cost data for Product X:

zvonat [6]

Answer:

unit cost for 2,000 units=$115

unit cost for 2,500 units =$113

unit cost for 5,000 units= $109

Explanation:

Absorption costing is method of costing where overheads are charged to units produced using volume-based bases. e.g machine hours, labour hours e.t.c. Units are valued using full cost per unit

Full cost per unit= Direct material cost + direct labor cost + Variable production overhead + Fixed production overhead

Fixed production overhead = Budgeted overhead/Budgeted production units

unit cost for 2,000 units

unit cost = 41 + 57 + 7 + (20,000/2000) = $115

unit cost for 2,500 units

unit cost = 41 + 57 + 7 + (20,000/2,500)= $113

unit cost for 5,000 units

unit cost = 41 + 57 + 7 + (20,000/5,000) = $109

unit cost for 2,000 units=$115

unit cost for 2,500 units =$113

unit cost for 5,000 units= $109

7 0

4 years ago

Janelle is into running. As soon as she gets home from work at the hospital, she changes into her running clothes, puts on her h

Digiron [165]

Answer:

d. lifestyle segmentation

Explanation:

Segmentation is the way in which various criteria is used to seperate the target market of a set of products.

In the given instance Janelle is involved in a lifestyle segment that is categorised on the basis of similar lifestyle.

She likes to run. This is a type of lifestyle, so the groups that she is involved with that also like running are an example of a lifestyle segmentation

8 0

3 years ago

Davis hardware company uses a perpetual inventory system. how should davis record the sale of merchandise, costing $770, and sol

slega [8]

The required entries are as follows:

Dr. Cost of goods sold $770

Cr. Inventory $770

Dr. Accounts receivable $1,260

Cr. Sales revenue $1,260

What entries are required for sale of merchandise?

When merchandise is sold, the company's inventory reduces and cost of goods sold increases ,hence, the appropriate entries are to debit cost of goods sold in the income statement and credit the inventory account in the balance sheet.

Also, to account for sale on account, which means credit sales, the revenue account is credited with the sales value whereas the account receivables which represents claim from the customer is debited, this would happen for every transaction because the inventory system is perpetual.

Find out more about merchandise on:brainly.com/question/13720527

#SPJ1

6 0

2 years ago

Refer to Exhibit 5-5. If the airline charges price P1 for both aisle seats and middle seats, the result will be Group of answer

OverLord2011 [107]

Answer:

a surplus of middle seats and the equilibrium quantity of aisle seats.

Explanation:

Aisle seats are already preferred by people. So, increasing rate of middle seats will make people more attracted towards aisle seats. So, a surplus of middle seats and the equilibrium quantity of aisle seats.

7 0

4 years ago

Exxon, an energy company, thinks demand for oil, gas, and coal will increase for the foreseeable future, meaning 20-30 years. Bu

Dafna1 [17]

Answer:

Forecasting

Explanation:

Forecasting is the way by which businesses predict future economic conditions by using past information and present economic situation to make informed guess about the future.

Forecasting is used by businesses to develop strategies that will ensure their future profitability.

In this instance Exxon predicted demand for oil, gas, and coal will increase for the foreseeable future of 20 to 30 years.

However their present activity is investment I sample biofuel projects.

This is forecasting the trend of demand in the oil and gas industry.

4 0

4 years ago