Answer:
Market
Explanation:
Producer surplus is the difference between the market price and the minimum price at which a producer would be willing to sell a particular quantity.
Producer surplus is known to be the total amount that a producer benefits or gains from producing and selling a quantity of a good at the market price. The total revenue that a producer receives from selling their goods minus the total cost of production equals the producer surplus.
Answer: Categorical; Ordinal
Explanation:
The data that are collected by the airline in this case is referred to as categorical.
The categorical variables are simply referred to as categorical variables because they can be segregated into groups. Also, the measurement of scale that is used is the ordinal scale.
Ordinal data is a kind of categorical data with a set order or scale to it.
Comment
Answer:
the difference between operating incomes under absorption costing and variable costing is $180,000 .
Explanation:
The difference between the two Operating Incomes lies in the amount of Fixed Overheads that has been deferred in Inventory.
So, calculation of the difference will be as follows :
Beginning fixed manufacturing overhead in inventory $230,000
Less Ending fixed manufacturing overhead in inventory ($50,000)
Difference between absorption costing and variable costing $180,000
,Answer: $285,000
Explanation:
The Contribution margin of a product refers to its selling price less that of the variable costs incurred to make and sell the good.
It can be used to calculate the breakeven point in sales along with the fixed costs.
To calculate a company's break-even point in dollar sales, the formula is:
= Fixed costs / Contribution margin ratio
= 94,050 / 33%
= $285,000
