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3 years ago

What payments are made between the farmer and the exchange on each day?

1 answer:

6 0

Each day the farmer exchanges money for the food he grows and sells, as well as the petrol it takes him to get to market, the farmer also has to pay his workers. The farmer has to have auto insurance, each of these things attributing to what the farmer pays each day.

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In the ________, the perfectly competitive firm will react to profits by ________

ElenaW [278]

In the long run, perfectly competitive firms will react to profits by increasing production.

Firms in a perfectly competitive world earn zero profit in the long run. While firms can earn accounting profits in the long run, they cannot earn economic profits.

In the long run, perfectly competitive firms will react to profits by decreasing production. CORRECT: In the long run, perfectly competitive firms will respond to losses by exiting the market. In the long run, perfectly competitive firms will respond to losses by reducing production.

A perfectly competitive market achieves long‐run equilibrium when all firms are earning zero economic profits and when the number of firms in the market is not changing.

In the long run, profits and losses are eliminated because an infinite number of firms are producing infinitely divisible, homogeneous products. Firms experience no barriers to entry and all consumers have perfect information.

Learn more about a perfectly competitive firm here: brainly.com/question/25327136

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8 0

2 years ago

Jameson Company uses average cost and a perpetual system. On January 1, the company had 600 units of inventory at an average cos

Leni [432]

Answer:

the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

Explanation:

The Weighted Average Cost Method calculates the new cost of Inventory with each purchase of Inventory.

The Perpetual Inventory System records the cost of inventory sold with each sale made.

Calculation of the new cost of Inventory with each purchase of Inventory :

January 10:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 600 units × $55 per unit ) + ( 1000 units × $59 per unit )) / 1600 units

= $ 57.50

January 20:

Cost per Unit = Total Cost / Total Number of Units

Cost per Unit = (( 1600 units × $57.50 per unit ) + ( 800 units × $62 per unit )) / 2400 units

= $ 59.00

There were no further purchases from this point

Thus cost per units remains at $ 59.00

Therefore the average cost per unit that should be used to determine the cost of the units sold on January 28 is $ 59.00

3 0

3 years ago

Read 2 more answers

The total factory overhead for Big Light Company is budgeted for the year at $403,750. Big Light manufactures two different prod

Nataliya [291]

Answer:

a. Total number of budgeted direct labor hours for the year = Direct labor hours for night lights + Direct labor hours for desk lamps

= 30,000*1/2 + 40,000*2

= 15,000 + 80,000

= 95,000 hours

b. Single plant-wide factory overhead rate using direct labor hours = Budgeted factory overhead / Budgeted factory hours

= $403,750 / 95,000 hours

= $4.25 per hour

c. Per unit factory overhead = Number of hours required to complete one unit * Factory overhead rate per hour

Night light

Per unit factory overhead = 0.5 * 4.25

Per unit factory overhead = $2.125 per unit

Desk lamp

Per unit factory overhead = 2 * 4.25

Per unit factory overhead = $8.50 per unit

5 0

3 years ago

Cheyenne Corp. had the following transactions that took place during the year:I.Recorded credit sales of $2250II.Collected $1350

Degger [83]

Answer:

The correct option is d) Decrease.

Explanation:

Free cash flow (FCF) can be described as the cash that is generated by a company after cash outflows required to support operations and maintain the capital assets of the company have been accounted for.

Therefore, FCF can be calculated by adjusting for non-cash expenses, changes in working capital, and capital expenditures to reconcile net income.

The total effect of these transactions on free cash flow can be determined by first calculating the account receivable for the year as follows:

Calculation of account receivable for the year:

Particular Amount ($)

Credit sales 2,250

Cash collected from the customer (1,350)

Sales returns (450)

Account receivable  450 

A partial free cash flow statement can therefore be prepared as follows:

Cheyenne Corp.

Free cash flow statement (Partial)

Particular Amount ($)

Net income xx

(Increase) decrease in non-cash current assets:

Increase in account receivable (450)

Free cash flow  (450) 

Since the free cash flow is negative or minus $450, it therefore implies that the total effect of these transactions on free cash flow is a decrease.

Therefore, the correct option is d) Decrease.

7 0

4 years ago

Corn syrup and maple syrup are substitutes. News of health benefits from maple has increased the demand for maple syrup and decr

77julia77 [94]

Answer:

The equilibrium price of corn syrup will fall. The change in equilibrium quantity will depend upon the extent of change in demand and supply.

Explanation:

Corn syrup and maple syrup are substitutes.

News of health benefits from maple has increased the demand for maple syrup and decreased the demand for corn syrup.

The demand curve for corn syrup will move to the left.

Meanwhile, the government has subsidized corn crops. This will cause the price of corn to fall. As the input price declines the cost of producing corn syrup will decline as well. The firms will be able to provide more at the same cost.

This will cause the supply to increase. As the supply curve moves to the right. The equilibrium price of corn syrup will fall. The change in equilibrium quantity will depend upon the extent of change in demand and supply.

8 0

3 years ago