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4 years ago

True/False

Business

1 answer:

alisha [4.7K]4 years ago

5 0

Answer:

The statement is: False.

Explanation:

There are four (4) types of economic utility: <em>form, time, place, </em>and <em>possession</em>. Form refers to how well a product accomplishes the satisfaction of a customer's needs which is not necessarily Pete's case. As he has access to the vending machine in his office building it will be fulfilling the place utility because it implies making products available where potential consumers might be.

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On March 1, a designer received a check for $7,500 from a customer for services to be provided after the customer chooses a colo

Alenkasestr [34]

Answer:

1.March 1

Dr Cash 7,500

Cr Unearned Revenue 7,500

2.July 31

Dr Unearned Revenue 7,500

C Design Services Revenue 7,500

Explanation:

1.Preparation of journal entry for March 1 journal entry

Based on the information given we were told that the designer receives the amount of $7,500 as a check in advance from a customer which means that the journal entry will be:

Dr Cash 7,500

Cr Unearned Revenue 7,500

2.Preparation of the July 31 journal entry.

Based on the information given we were told that the designer completed the design work for this customer which means that the journal entry will be:

July 31

Dr Unearned Revenue 7,500

C Design Services Revenue 7,500

7 0

3 years ago

The cost (in dollars) of producing x units of a certain commodity is C(x) = 9000 + 6x + 0.05x2. (a) Find the average rate of cha

postnew [5]

Answer: The correct answer is $16.1 per unit.

Explanation:

C(x) = 9000 + 6x + 0.05x²

C(100) = 9000 + 6 × 100 + 0.05(100)²

= 9000 + 600 + 500

= 10,100

C(102) = 9000 + 6 × 102 + 0.05(102)²

= 9000 + 612 + 520.5

= 10,132.2

Now, the average rate of change of C with respect to x when production level changed from x = 100 to x = 102 is :

⇒ ${ \frac{C(102) - C(100)}{(102 - 100)} \\= \frac{10132.2 - 10100}{2} \\$

= $\frac{32.2}{2}$

= $16.1 per unit

5 0

3 years ago

Read 2 more answers

Budgeted sales are expected to be: January 200 Units February 300 Units March 400 Units April 300 Units May 400 Units Selling Pr

erik [133]

Answer:

Sales Budget for January, February, March and April

January February March April

Budgeted Sales Units 200 300 400 300

Selling Price $10 $10 $10 $10

Budgeted Sales $2,000 $3,000 $4,000 $9,000

Production Budget for January, February, March and April

January February March April

Budgeted Sales Units 200 300 400 300

Budgeted Production Units 200 300 400 300

Explanation:

Sales Budget shows a forecast of the future sales revenues expected by the Company.It is the first budget to be prepared from which all other companies budget are created.

Sales Budget for January, February, March and April

January February March April

Budgeted Sales Units 200 300 400 300

Selling Price $10 $10 $10 $10

Budgeted Sales $2,000 $3,000 $4,000 $9,000

Production Budget for January, February, March and April

Hint : Since there are no targets for beginning or closing inventories, then Sales are equal to production.

January February March April

Budgeted Sales Units 200 300 400 300

Budgeted Production Units 200 300 400 300

4 0

3 years ago

A pharmacist wants to establish an optimal inventory policy for a new antiobiotic that requires refrigeration in storage. The ph

Akimi4 [234]

Answer:

EOQ: 80

order per year: 10

Explanation:

We need to solve for the Economic Order Quantity:

$Q_{opt} = \sqrt{\frac{2DS}{H}}$

Where:

D = annual demand = 800

S= setup cost = ordering cost = 16

H= Holding Cost = 4

$Q_{opt} = \sqrt{\frac{2 \times 800 \times 16}{4}}$

EOQ = 80

Orders per year = 800 demand/ 80 order size= 10

5 0

4 years ago

Suppose that the tuna industry is in long-run equilibrium at a price of $5 per can of tuna and a quantity of 350 million cans pe

SCORPION-xisa [38]

Answer:

More; increasing supply and earning profit; entering the market; reducing the profit to zero; horizontal.

Explanation:

The claim by WebMD that the protein in tuna would lead to 2 Years increase in life expectancy would cause the demand to increase at every price. The demand curve will consequently shift to right.

As a result the firms in short run will supply more and enjoy profits.

Since the firms were facing long run equilibrium and were enjoying zero profit, an increase in price will cause profit to firms.

Since in the short run firms can not enter or exit they will continue producing.

In the long run attracted by the profit earned by existing firms, the new firms will enter the market till all the firms are having zero profits.

In the tuna industry the new firms will start production, so the industry supply will increase causing a rightward shift in the supply curve.

In the long run the shape of the supply curve of the industry will be horizontal.

3 0

3 years ago