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3 years ago

_________are places that sell merchandise from a single manufacturer, usually at lower prices than other retailers.

Business

2 answers:

Furkat [3]3 years ago

8 0

Whole sailers sells at lower prices

liberstina [14]3 years ago

6 0

Factory outlets are places that sell merchandise from a single manufacturer, usually at lower prices than other retailers.

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If the average propensity to consume is 0.75, and the marginal propensity to consume is 0.70, if income rises by $4,000, consump

LUCKY_DIMON [66]

Answer:

$2,800

Explanation:

The computation of the increase in consumption is shown below:

= Marginal propensity to consume × rise in income

= 0.70 × $4,000

= $2,800

Hence, the consumption would be increased by $2,800

We simply applied the above formula i.e. marginal propensity to consume is multiplied with the rise in income so that the correct answer could come

7 0

3 years ago

Given Advanced Company's data, and the knowledge that the product is sold for $71 per unit and operating expenses are $300,000,

Kobotan [32]

Answer:

b) $113,000

Explanation:

For the computation of net income under absorption costing first we need to follow some steps which is shown below:-

variable overhead per unit = $105,000 ÷ 35,000

= $3 per unit

The Variable cost of production per unit

Particulars Amount

Direct material $19.00

Direct labor $21.00

Variable overhead $3.00

Variable cost of production

per unit $43.00

Cost per unit of finished goods under absorption costing

Particulars Amount

Total direct material cost $665,000

($19 × 35000)

Total direct labor $735,000

($21 × 35000)

Total variable overhead $105,000

Total fixed overhead $175,000

Total $1,680,000

Units in finished goods = Number of units produced - units sold

= 35,000 - 21,000

= 14,000

Cost of finished goods under variable costing

= Variable cost of production per unit × Number of units in finished goods

= $43 × 14,000

= $602,000

Cost of goods sold

= Production cost - Finished goods cost

= $1,680,000 - $602,000

= $1,078,000

Income statement under absorption costing

Particulars Amount

Sales revenue $1,491,000

($71 × 21,000)

Less: cost of goods sold -$1,078,000

Gross Profit $413,000

Less : operating expenses -$300,000

Net operating income $113,000

3 0

3 years ago

Define diverse nation

patriot [66]

The concept of diversity encompasses acceptance and respect. As a nation, we try to understand one's individuality and recognizing one's differences.

Hopes this helped.

~Bob Ross®

3 0

3 years ago

The following costs are included in a recent summary of data for a company: advertising expense, $85,000; depreciation expense -

vladimir1956 [14]

Answer:

Conversion costs= $488,000

Explanation:

Giving the following information:

depreciation expense - factory building, $133,000

direct labor, $250,000

factory utilities, $105,000

The conversion costs are the sum of direct labor and manufacturing overhead.

Manufacturing overhead= 133,000 + 105,000= 238,000

Direct labor= 250,000

Conversion costs= $488,000

7 0

3 years ago

The price of good X increases from $55 to $60, and quantity demanded decreases from 500 to 400. The price of good Y increases fr

nikklg [1K]

Answer:

demand curve for Good X is more elastic than the demand curve for Good Y

Demand for good X is elastic because the coefficient of elasticity is greater than 1.

Demand for good Y is inelastic because the coefficient of elasticity is less than 1.

consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

For good X,

Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%

Percentage change in quantity demanded = 500 / 400 - 1 = 0.25 = 25%

Elasticity of demand = 25% / 8.33% = 3

Demand for good X is elastic because the coefficient of elasticity is greater than 1.

For good Y,

Percentage change in price = $55 / $60 - 1 = | -0.0833| = 8.33%

Percentage change in quantity demanded = 500 / 475 - 1 = 0.0526 = 5.26%

Elasticity of demand = 5.26% / 8.33% = 0.63

Demand for good Y is inelastic because the coefficient of elasticity is less than 1.

consumers who buy Good Y are less sensitive to price changes than consumers who buy Good X

8 0

2 years ago