Answer:
introduction
Explanation:
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Answer:
Procurement
Explanation:
The purchasing function, sometimes called procurement is an important part of any firm's production strategy. The role of procurement is simply to get goods and services for the business needs.
Procurement is the act of getting goods or services, for business purposes. It is generally the last act of purchasing.
Answer:
1. $400,000
2. $140,000
3. $56,000
4. $84,000
Explanation:
1. Budgeted gross profit = Budgeted sales - Budgeted COG sold
where, Budgeted COG sold = $480,000 + $60,000 - $40,000 = $500,000
By putting the value, we get
Budgeted gross profit = $900,000 - $500,000
= $400,000
2. Budgeted income before taxes = Budgeted gross profit - selling and administrative expenses - interest expense
= $400,000 - $250,000 - $10,000
= $140,000
3. Budgeted income tax = Budgeted income before taxes × tax rate
= $140,000 × 40%
= $56,000
4. Budgeted net income = Budgeted income before taxes - Budgeted income tax
= $140,000 - $56,000
= $84,000
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Answer:
The correct answer is option A.
Explanation:
A perfectly competitive market has large number of sellers producing homogenous products. As a result, no single firm is able to affect the price level. So all the firms have their individual demand curves as a horizontal line at the price level.
This demand curve also represents marginal revenue. The firm is able to maximize profit when the price and marginal revenue is equal to the marginal cost.
Here, the revenue earned from the last unit of product is equal to the cot incurred in producing the last unit.
