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3 years ago

What is a demand schedule?

2 answers:

7 0

In economics, is a table of the quantity demanded of a good at different price levels. Given the price level, it is easy to determine the expected quantity demanded.

dimulka [17.4K]3 years ago

6 0

Answer: A demand schedule is a table which shows the quantity demanded of a product or service at different price level over a specified period of time.

Explanation:

A demand schedule refers to a table that shows the different quantities in demand at different prices over a specified period of time. The table shows the relationship between the price of products (goods) and the amount of products that the consumers are willing and able to pay at a given price. Its graphical representation is a demand curve where the Y-axis represents price and the X-axis represents quantity. There are two types of demand schedule, which are: Individual demand schedule and market demand schedule.

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Grouper Company sold 214 color laser copiers on July 10, 2020, for $3,800 apiece, together with a 1-year warranty. Maintenance o

Oliga [24]

Answer:

1. Dr Cash $813,200

Cr Sales Revenue $813,200

2. Dr Warranty Expense $17,400

Cr Cash $17,400

3. Dr Warranty expense $47,442

Cr Warranty liability $47,442

Explanation:

Preparation of the entries to record the sale of the copiers, the related warranty costs, and any accrual on December 31, 2020.

1. Preparation of the entries to record the sale of the copiers

Dr Cash $813,200

($3,800*214)

Cr Sales Revenue $813,200

(Being to record the sale of the copiers)

2. Preparation of the entries to record the related warranty costs

Dr Warranty Expense $17,400

Cr Cash $17,400

(Being to record the related warranty costs)

3. Preparation of the entries to record any accrual

Dr Warranty expense $47,442

[($303*214)-17,400]

Cr Warranty liability $47,442

(Being to record any accrual)

8 0

3 years ago

(a) What is the present value of $34,900 due 9 periods from now, discounted at 9%? (Round answer to 2 decimal places, e.g. 25.25

Simora [160]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

a) What is the present value of $34,900 due 9 periods from now, discounted at 9%

We need to use the following formula:

PV= FV/(1+i)^n

PV= 34,900/1.09^9= $16,068.83

(b) What is the present value of $34,900 to be received at the end of each of 12 periods, discounted at 8%

First, we need to find the final value:

FV= {A*[(1+i)^n-1]}/i

A= annual deposit

FV= {34,900*[(1.08^12)-1]}/0.08= 662,301.71

PV= 662,301.71/(1.08^12)= 263,009.12

7 0

3 years ago

The adjusted trial balance of Parsons Company at December 31, 2020, includes the following accounts: Common Stock $15,600, Divid

g100num [7]

Answer:

$12,200

Explanation:

Preparation of an income statement for the year.

PARSONS COMPANY Income Statement

For the year ended December 31,2020

Service Revenue $37,000

Expenses:

Salaries and wages $16,000

Insurance Expense $2,000

Rent Expense $4,000

Supplies Expense $1,500

Depreciation Expense $1,300

Total Expenses $24,800

Net Income $12,200

($37,000-$24,800)

Therefore income statement for the year is $12,200

8 0

3 years ago

Concord Company identifies three activities in its manufacturing process: machine setups, machining, and inspections. Estimated

Klio2033 [76]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Machine setups

Estimated annual overhead cost= $198,800

Number of setups 2,800

Machining

Estimated annual overhead cost= $337,400

Machine hours 24,100

Inspections.

The estimated annual overhead cost= $81,000

Number of inspections 1,500.

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Machine Setup:

Estimated manufacturing overhead rate= 198,800/2,800= $71 per setup

Machining:

Estimated manufacturing overhead rate= 337,400/24,100= $14 per machine hour

Inspections:

Estimated manufacturing overhead rate= 81,000/1,500= $54 per inspection.

8 0

4 years ago

Kalim developed a new food product that he was certain would be popular with consumers. He researched his target market and made

Ket [755]

<u>A. By conducting a focus group before launching the product</u>

Pricing in the business world is very delicate. People will always tend to go for the cheapest product if they aren't loyal to a specific brand. So, when you are starting a business, it is extremely important to focus on pricing. Your prices have to be low enough for people to buy them, but high enough to break even and make a profit.

A focus group would have assisted Kalim in finding the best price for his product. By conducting this, the group would have told him exactly what they would pay for something like his product. However, the damage done is not permanent. He should now lower the prices or conduct a focus group to find out the best price for his food.

7 0

4 years ago

Read 2 more answers