All categories

3 years ago

How does supply and demand inform the choices of consumers and business owners?

1 answer:

6 0

<span>In the sale of goods and services, price is determined by the interaction between supply and demand. In a graph, the point where the supply curve and demand curve intersect is called the equilibrium point. This point corresponds to the equilibrium price, the one a business should seek to charge. If suppliers charge a price higher than equilibrium a surplus will result. If they charge less a shortage will result</span>

You might be interested in

The master budget of Sheridan Company shows that the planned activity level for next year is expected to be 50000 machine hours.

barxatty [35]

Answer:

$1,350,000

Explanation:

Calculation to determine the total manufacturing overhead costs

First step is to calculate the Variable overhead

Variable overhead= $720,000 + $180,000 +$150,000

Variable overhead=$1,050,000

Second step is to calculate Unitary variable overhead

Unitary variable overhead= $1,050,000/50,000

Unitary variable overhead= 21

Now let calculate the total manufacturing overhead costs

For 60,000 units:

Total Manufacturing Overhead Costs = 21*60,000 + 90,000

Total Manufacturing Overhead Costs= $1,350,000

Therefore the total manufacturing overhead costs is $1,350,000

6 0

3 years ago

During 2020, Stellar Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Stellar for a

Ber [7]

Answer:

What is the amount of gross profit realized during 2020?

(460 x $33.30) + (230 x $29.60) + (276 x $18.50) = $27,232

What is the amount of inventory of unsold straight chairs on December 31, 2020?

[(920 - 460) x $56.70] + [(690 - 230) x $50.40] + [(1,610 - 276) x $31.50] = $26,082 + $23,184 + $42,021 = $91,287

Explanation:

lump sum cost of chairs = $137,655

Type Chairs Selling Price Each Total

Lounge chairs 920 $90 $82,800

Armchairs 690 $80 $55,20

<u>Straight chairs 1,610 $50 $80,500</u>

total 3,220 $218,500

if we allocate costs based on resale, then each chair should cost:

Lounge chairs $90 x ($137,655 / $218,500) = $56.70

Armchairs $80 x ($137,655 / $218,500) = $50.40

Straight chairs $50 x ($137,655 / $218,500) = $31.50

contribution margin per chair:

Lounge chairs $90 - $56.70 = $33.30

Armchairs $80 - $50.40 = $29.60

Straight chairs $50 - $31.50 = $18.50

7 0

3 years ago

The slope of a cost function can be defined as

garri49 [273]

Answer:

rgrbrgg35t54tgt

Explanation:

3 0

2 years ago

A customer buys $10,000 of Government Bond Fund shares from Acme Investors, a fund sponsor and broker-dealer. Acme is the sponso

timofeeve [1]

Answer: customer will pay a sales charge

Explanation:

The statement which states that customer will have to pay sales charge in order to exchange shares within the family is not true. The fund family possesses an "exchange feature" at NAV. This means that the shares of one fund has the right to be redeemed and then reinvested in shares of another fund that is within the family without no sales charge.

For the customer that is exchanging Government bond Fund shares for the Growth Fund shares, tax event has occurred. Therefore, it will be expected that the customer's yield will reduce but that the capital gains will increase, because the person is moving from an "income" fund into a "growth" fund.

3 0

3 years ago

Suppose a four-period weighted average is being used to forecast demand. Weights for the periods are as follows: w t-4 = 0.1, w

Bingel [31]

Answer:

Option (e) is correct.

Explanation:

Given that,

Weights for the periods:

w_t-4 = 0.1,

w_t-3 = 0.2,

w_t-2 = 0.3

w_t-1 = 0.4

Demand observed in the previous four periods:

A_t-4 = 380

A_t-3 = 410

A_t-2 = 390

A_t-1 = 400

Demand forecast for period t:

= (w_t-4 × A_t-4) + (w_t-3 × A_t-3) + (w_t-2 × A_t-2) + (w_t-1 × A_t-1)

= (0.1 × 380) + (0.2 × 410) + (0.3 × 390) + (0.4 × 400)

= 397

6 0

3 years ago