What was the trade discount rate if merchandise with a list price of $14,200 was sold at a net price of $9,940?

Answer;
Based on Supply and demand; If a more people want a commodity, it is in greater demand, thus the price will be higher, and if less people want a commodity, the price will be lower.
Explanation;
In a market the price is determined using the law of demand and supply in that particular market. Demand is the quantity of goods that consumers are willing and able to buy at a given price while supply is the quantity supplied by suppliers at a particular price.
If a more people want a commodity, it is in greater demand, thus the price will be higher, and if less people want a commodity, the price will be lower.

8 0

3 years ago

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Assuming that there is one-half pound of resin per foot of the finished product, determine the resin materials cost per foot of

tangare [24]

The resin materials cost per foot of finished product for June $0.53.

Given the data in the question;

May June July

Resin pounds input

into the process 470,000 700,000 650,000

Price per pound X$1.50 X$1.50 X$1.50

Plastic material costs $493,000 $640,000 $677,000

Conversion costs $80,000 $120,000 $115,000

Conduit output from

the process (feet) 800,000 1,200,000 1,130,000

Assuming that there is one-half pound of resin per foot of the finished product, determine the resin materials cost per foot of finished product for June.

Given:

Materials cost for June = $640,000

Number of Feet produced as output in June = 1,200,000

So, Formula of Material Cost per foot of finished product

Material Cost per foot of finished product = Material Cost/ Number of feet produced in June

= $640,000 / 1,200,000

= $0.5333 = $0.53

Therefore, the resin materials cost per foot of finished product for June is $0.53

Hence, the correct option is A.

Your question is incomplete, but most probably your full question was:

Rambo-Conduit Corporation manufactures plastic conduit that is used in the cable industry. A conduit is a tube that encircles and protects the underground cable. In the process of making the plastic conduit, called extrusion, the melted plastic (resin) is pressed through a die to form a tube. Scrap is produced in this process. Information from the cost of production reports for three months is as follows, assuming that inventory remains constant:

May June July

Resin pounds input into the process 470,000 700000 650,000

Price per pound x81.50 x81.50 x81.50

Plastic material costs 493,000 6,40,000 6,77,000

Conversion costs 80,000 120,000 115000

Conduit output 800,000 1200,000 1130,000

from the process (feet)

Assuming that there is one-half pound of resin per foot of the finished product, determine the resin materials cost per foot of finished product for June.

a. $0.53

b. $0.60

c. $0.54

d. None of these choices are correct.

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6 0

2 years ago