Answer:
Equilibrium quantity and price will decrease
Explanation:
Inferior goods are the products or services whose demand increases with an increase in price. An Inferior good contracts a normal product whose demand falls with a rise in price. Should consumer's incomes increase, the demand for inferior products and services will decrease.
If potatoes are inferior goods, an increase in incomes will result in a decrease in their demand. The equilibrium quantity will decrease. If and a new higher-yielding variety of potato plant is developed, it will create competition for the inferior potatoes. With an increase in income, consumers tend to prefer 'perceived' high-quality and more costly products. The new higher-yielding variety will be demanded more, which will result in a decline in prices for the inferior potatoes.
The step transforms the item toward completion (something changes)
The step is done right the first time (not a rework step)
The customer cares (or would pay) for the step to be done.
He should call the bank and get his bank statement. After the bank statement has arrived,he should prepare a bank reconciliation statement to match the transactions that the bank has recorded and those that he has recorded. This way he can find out which payments has been made by the bank that he has not recorded.
Answer:
Overhead Cost - S1 = $30201
Explanation:
To assign Overhead costs to S1, we first need to calculate the Overhead Absorption rate for Machining and Order filling.
The Overhead Absorption rate for Machining is calculated by dividing the Machining Overheads by the number of Machine hours to calculate $ Overhead per Machine Hour.
- Total Machining Hours = 11500 + 3600 = 15100
- Machining = $11325 / 15100 Hours = $0.75 / Machine Hour
Now we do the same calculation for Order Filling Overheads and divide them by Number of Orders.
- Total Number of Orders = 270 + 1240 = 1510
- Order Filling = 26274 / 1510 = $17.4 per order
Now we allocate the Overheads to S1 on the basis of Machine Hours and Number of orders relating to S1.
- S1 Overheads = 0.75 × 11500 + 17.4 × 1240 = $30201