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Scrat [10]
3 years ago
5

Producer surplus equals a. Value to buyers - Costs of sellers. b. Amount received by sellers - Costs of sellers. c. Value to buy

ers - Amount paid by buyers + Amount received by sellers - Costs of sellers. d. Value to buyers - Amount paid by buyers.
Business
1 answer:
aev [14]3 years ago
5 0

Answer:

Amount received by sellers - Costs of sellers. 

Explanation:

Producer surplus is the difference between the price of a good and the cost to sellers. It is the difference between price and the least amount sellers would be willing to sell their products.

Consumer surplus is the difference between the price at which the consumer values the good and the price of the good.

Consumer surplus = Value to buyers - Amount paid by buyers.

I hope my answer helps you

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ndicate whether each of the following costs should be classified as a product cost or as an SG&A cost in accordance with GAA
Leokris [45]

Answer:

 

Explanation:

The product cost is a combination of direct material cost, direct labor cost, and the manufacturing overhead cost. The manufacturing overhead cost is an indirect cost which is related to the factory expenses.

And, the SG&A cost is a sales, general ,and admin costs incurred to advertise the company's products so that it can accomplish its sales targets which can build a good reputation in the market.

So, the categorization is shown below:

Direct materials used in a manufacturing company. = Product cost

Indirect materials used in a manufacturing company. = Product cost

Salaries of employees working in the accounting department. = sales, general ,and admin costs

Commissions paid to sales staff. = sales, general ,and admin costs

Interest on the mortgage for the company’s corporate headquarters. = sales, general ,and admin costs

Indirect labor used to manufacture inventory. = Product cost

Attorney’s fees paid to protect the company from frivolous law suits. = sales, general ,and admin costs

Research and development costs incurred to create new drugs for a pharmaceutical company. = sales, general ,and admin costs

The cost of secretarial supplies used in a doctor’s office. = sales, general ,and admin costs

Depreciation on the office furniture of the company president. = sales, general ,and admin costs

4 0
3 years ago
The conceptual framework that the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (
Leokris [45]

Answer:

D) Uniformity

Explanation:

The purpose of the conceptual framework is to assist the International Accounting Standards Boards and account preparers in having a better understanding of the International Financial Reporting Accounting Standards, knowing the right accounting policy to take where there is no clear standard, as well as developing and revising standards.

Issues meant to be addressed by this framework include recognition and derecognition, measurement, qualitative characteristics of important financial information, the objective of financial reporting, financial statements and the reporting entity, understanding of capital and capital maintenance as well as presentation and closure.

7 0
3 years ago
If you have a credit card with 15.99% APR that compounds monthly, what is the effective interest
RideAnS [48]

Answer: 17.22%

Explanation:

Effective interest rate is calculated by the formula:

=  (1 + APR / Number of compounding periods) ^ Number of compounding periods - 1

Number of compounding periods = 12 months in the year

= (1 + 0.1599/12)¹² - 1

= 0.172155

= 17.22%

7 0
3 years ago
Not showing up to work on time on a regular basis could cause your manager to question your:
likoan [24]

Answer:

Professionalism.

Explanation:

Professionalism can be defined as an act which typically involves the positive behavior, conduct and attitude that are being exhibited by an employee. Thus, being a professional simply means that the person displays some level of professionalism such as being responsible, punctual, excellent, ethical, respectful, dedicated, dogged etc.

Basically, it is very important and essential for employees to act in a professional manner while performing their job functions or executing various tasks.

Hence, not showing up to work on time on a regular basis could cause your manager to question your professionalism.

8 0
3 years ago
The current price for a good is ​$​, and units are demanded at that price. The price elasticity of demand for the good is . When
Harman [31]

Answer:

Consumer surplus decreases by $180.

Explanation:

Current consumer surplus =  $25 * 90 unit = $2250

If the price of goods drop to $23 then the new consumer surplus will be

$23 * 90 units = $2070

The change in consumer surplus is $180 .

3 0
3 years ago
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