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2 years ago

In the context of statutorily mandated arbitration, why has arbitration become widespread during the last few decades?

1 answer:

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Arbitration refers to a type of alternative to dispute resolution; it involves resolving of disputes outside courts. In this type of dispute resolution, arbitrators consider the case of each party and render arbitral award which is legally binding and enforceable in courts.
Arbitration has become widespread in the last few decades due to the fact that the law may require the disputing parties to take their case to arbitration. For instance, some states in America have laid down statues that demand that some dispute types have to be submitted to arbitration.

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How do Government price ceilings and price floors affect the economy? Select all that apply.

serg [7]

The following options are correct: A, B AND C.
Price ceiling and price floor are two price control methods which the government used to control price. Price ceiling is used to prevent prices from been too low while price floor is lowest price a commodity can be sold for .

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3 years ago

Sara’s Salsa Company produces its condiments in two types: Extra Fine for restaurant customers and Family Style for home use. Sa

Len [333]

Answer:

1.$4.29 per cases

2. Extra Fine $14.29

Family Style $13.29

3a. Extra Fine $4.71

Family Style $0.29

3b. What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may may inturn make make the company to stop the production of the product in a situation where either the cost are not reduced or where the price.

Explanation:

1. Computation for the overhead cost that is assigned to each case of Extra Fine Salsa and each case of Family Style Salsa using Plantwide overhead rate

Using this formula

Overhead cost=Total overhead cost/Total volume

Let plug in the formula

First step is to calculate the Total overhead cost

Total overhead cost = $130,800 + $349,000 +$206,000

Total overhead cost =$685,800

Second step is to calculate the Total volume

Total volume= 35,000 + 125,000 cases

Total volume=160,000 cases

Now let calculate the Overhead cost

Overhead cost=$685,800/160,000 cases

Overhead cost=$4.29 per cases (rounded)

Therefore since we are making use of plantwide rate which means that same overhead cost of the amount of $4.29 per cases will be assigned to each of the two case .

2. Calculation to determine the total cost per case for the two products

Extra Fine Family Style

Direct materials + Direct Labor $ 10.00 $ 9.00

Add Overhead $4.29 $4.29

Manufacturing cost per case $ 14.29 $ 13.39

Therefore the the total cost per case for the two products will be:

Extra Fine $14.29

Family Style $13.29

3-A Calculation to determine the gross profit per case for each product.

Extra Fine Family Style

Selling price per case $ 19.00 $ 13.00

Less Manufacturing cost per case $14.29 $13.29

Gross profit (loss) per case $ 4.71. $ (0.29 )

Therefore the gross profit per case for each product will be ;

Extra Fine $4.71

Family Style $0.29

3-b. Based on the above Calculation What might the management conclude about the Family Style Salsa product line is that Family Style salsa are not yielding profit which may may inturn make make the company to stop the production of the product in a situation where either the cost are not reduced or where the price.

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2 years ago

The concert promoters of a heavy-metal band, WeR2Loud, know that there are two types of concert-goers: die-hard fans and casual

Reika [66]

Answer:

B) $125,000

Explanation:

Price discrimination strategy refers to charging each customer the maximum amount of money he/she is willing to pay for a product.

In this case, the concert promoters should charge $150 per ticket to 1,000 die hard fans = $150,000 in revenue.

Then it should charge only $50 per ticket to 500 casual fans = $25,000 in revenue.

Total revenue = $150,000 + $25,000 = $175,000

<u>minus total costs = ($50,000) </u>

Net income = $125,000

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2 years ago

The fact that some consumers want flavored bottled water and others want it with added minerals provides an opportunity for ____

aleksandrvk [35]

Answer:

Benefit

Explanation:

Benefit segmentation is dividing or spilt up the market grounded on the perceived advantage or benefit and value consumers perceive, that they will receive from the service or the product.

The person could segment the market grounded on the performance, quality, special features, customer service and other advantages.

Therefore, the fact that the some of the customers want the flavored water bottles and others want to have it with the added minerals, it provides an opportunity for the benefit segmentation.

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3 years ago

Define bank run in your own words.

lina2011 [118]

Answer:

A bank run occurs when a large number of customers of a bank or other financial institution withdraw their deposits simultaneously over concerns of the bank's solvency. As more people withdraw their funds, the probability of default increases, prompting more people to withdraw their deposits.

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2 years ago