Answer:
C. a higher price and produce a smaller output than a competitive firm.
Explanation:
A monopolistic producer will charge a higher price when confronted with the same unit cost data. The producer will also produce less of the item to make it appear more in demand. In turn, this allows the producer to make more money by spending less on labor and materials. Their overhead is reduced as well. This is seen as a competitive way to market their product and make it seem better and that it sells faster so keeping up with demand is difficult, even though it is completely false.
The general approach to answering this item is to determine first the z-score of the given data and convert the z-scores to percentile. The equation for z-score determination is,
z-score = (X - μ) / σ
where X is the data, μ is the mean or average, and σ is the standard deviation.
(A) at most 2.7 minutes
z-score = (2.7 - 3.2) / 1.6 = -0.3125
This is equivalent to <em>37.73%</em>
(B) more than 3.5 minutes
z-score = (3.5 - 3.2) / 1.6 = 0.1875
This is equivalent to 57.44%. We are asked for more than so we take,
100 - 57.44% = <em>42.56%</em>
(C) z-score of 3.2 minutes
z-score = (3.2 - 3.2) / 1.6 = 0
This is equivalent to 50%.
z-score of 3.4 minutes
z-score = (3.4 - 3.2) / 1.6 = 0.125
This is equivalent to 54.97%
The difference of the two percentiles is <em>4.97%</em>.
Answer:
64.17% and 8%
Explanation:
The computation of the percentage is shown below:
For the cost of goods sold, the percentage would be
= (Cost of goods sold ÷ Sales) × 100
= ($77 million ÷ $120 million) × 100
= 64.17%
For the net income, the percentage would be
= (Net income ÷ Sales) × 100
= ($9.6 ÷ $120 million) × 100
= 8%
Simply we put the sales in denominator side and costs of goods sold or net income in numerator side
Answer:
The Supplies account would be <em>debited </em>on the <em>left </em>side of the T-account and the Cash account would be <em>credited</em> on the <em>right </em>side of the T-account.
Explanation:
Supplies
DEBIT CREDIT
(LEFT) (RIGHT)
300
We debit supplies as it represnet an asset , something the company owns. Thus it will increase from the debit
Cash
DEBIT CREDIT
(LEFT) (RIGHT)
300
We credit cash is it is assets which is being decreased. We use the cash to acquire the supplies. We no longer have those 300 dollars we use to purchase the supplies.