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love history [14]
3 years ago
6

Holding other factors constant, if food prices decline relative to the prices of other products, then the real wages of agricult

ural workers will ______________ and employment of agricultural workers will ______________.
Business
1 answer:
yawa3891 [41]3 years ago
6 0

Answer: decrease; decrease

Explanation:

Agriculture is food production and sales, when there is a decline in prices of food it would affect the workers wages and reduce employment.

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A foreign company (whose sales will not affect cornish's market) offers to buy 3,000 units at $17.00 per unit. in addition to va
Marianna [84]

Trescott company had the following results of operations for the past year:

Sales (20,000 units at $22) $440,000

Direct materials and direct labor $200,000

Overhead (40% variable) 100,000

Selling and Administrative expenses (all fixed) 92,000 (392,000)

Operating income $ 48,000

A foreign company (whose sales will not affect Trescott's market) offers to buy 3,000 units at $17.00 per unit. In addition to the variable manufacturing costs, selling these units would increase fixed overhead by $500 and selling and administrative costs by $1,000. If Trescott accepts the offer, its profits will increase (decrease) by:

Answer : If Cornish accepts this order, its profits will increase by $13,500.

<u>Calculation of Variable Costs per unit :</u>

Direct Material and labor per unit = Total Direct Material and labor / No. of units sold

Direct Material and labor per unit =200000/20000 = $10

Variable Overhead per unit = Total Variable Overhead / No. of units sold

Variable Overhead per unit = (100000*0.4)/20000 = $2

Variable Cost per unit = $12 (Direct Material and labor per unit + Variable Overhead per unit)

Selling price of new order = $17 per unit

No. of units = 3,000

Increase in Fixed Costs = Inc in fixed overhead + inc in S&A Expenses

Increase in Fixed Costs = $1500 (500 + 1000)

Total Cost of new order = (Variable Cost per unit * No. of units) + Increased Fixed Cost

Total Cost of new order = (12*3000) + 1500 = $37,500

Total Revenues from new order = Selling price per unit * No. of units sold

Total Revenues = $51,000 (17 *3,000)

Profit from new order = Total Revenues from new order - Total Cost of new order

Profit from new order = 51000 - 37500 = $13,500

6 0
3 years ago
What does increasing marginal opportunity costs​ mean? A. Increasing the production of a good requires smaller and smaller decre
lilavasa [31]

Answer:

B. Increasing the production of a good requires larger and larger decreases in the production of another good.

Explanation:

Opportunity cost refers to the foregone units of production of a good in exchange for producing units of another good.

Marginal cost on the other hand refers to additional cost incurred when an additional unit is produced.

Marginal opportunity cost relates to the additional opportunity cost incurred  when additional unit of second good is produced in exchange for foregoing or sacrificing units of production of first good.

Increasing marginal opportunity cost would mean as more and more units of good A are produced, for each extra unit of production of Good A, higher units of production of Good B are sacrificed i.e larger and larger decrease in the production of another good.

4 0
3 years ago
Suppose that when the price of gasoline is $3 per gallon, the total amount of gasoline purchased in the united states is 8 milli
mina [271]

Assuming  the total amount of gasoline purchased is 12 million barrels per day. The percentage change in the quantity demanded is: 50%.

<h3>Percentage change in the quantity demanded</h3>

Using this formula

Percentage change in quantity demanded= (Total amount of gasoline purchased- total amount of gasoline purchased in united states)/ Total amount of gasoline purchased in united states×100

Let plug in the formula

Percentage change in quantity demanded=(12 - 8) / 8

Percentage change in quantity demanded =4/8×100

Percentage change in quantity demanded=50%

Inconclusion  the percentage change in the quantity demanded is: 50%.

Learn more about  percentage change in the quantity demanded here:brainly.com/question/25364127

5 0
2 years ago
Differential Analysis for a Lease or Buy Decision
il63 [147K]

Answer:

Lease Equipment $150,000

BUY EQUIPMENT$134,700

Differential Effects-$15,300

The company should choose BUY EQUIPMENT which is Alternative 2

Explanation:

Preparation of the differential analysis dated March 15 to determine whether Laredo Corporation should lease (Alternative 1) or purchase (Alternative 2) the equipment

Differential Analysis

Lease (Alt. 1) or Buy (Alt. 2) Equipment

March 15

Lease Equipment (Alternative 1); Buy Equipment

(Alternative 2); Differential Effects (Alternative 2)

Costs:

Purchase price $0 $120,000 $120,000

Freight and installation $0 $1,500 $1,500

Repair and maintenance (6 years) $0 $13,200.$13,200

($2,200*6=$13,200)

Lease (6 years) $150,000 $0 -$150,000

($25,000*6)

Total costs $150,000 $134,700 -$15,300

Based on the above calculation the company should choose BUY EQUIPMENT which is Alternative 2

4 0
3 years ago
"Consider the following data: Cost of goods sold $70 Direct labor $20 Direct materials used $15 Cost of goods manufactured $80 W
vovikov84 [41]

Answer:

Schedule of cost of goods manufactured & Sold

Particulars                                   Amount

Direct materials used              $15

Direct labor                                 $20

Factory overhead Applied         <u>$30</u>

(150% of DL Cost)

Total manufacturing costs          $65

Add: Beginning WIP                    <u>$25</u>

Total cost of work in process     $90

Less: Ending WIP                         <u>$10</u>

Cost of goods manufactured    <u>$80</u>

Particulars                                                  Amount

Cost of goods manufactured                       $80

Add: Beginning finished goods inventory   <u>$5</u>

Cost of goods available for sale                 $85

Less: Ending finished goods inventory        <u>$15</u>

Cost of goods sold                                        <u>$70</u>

<u />

3 0
2 years ago
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