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lubasha [3.4K]
3 years ago
8

Jimmi wants a new cellular phone that many other people also want to buy. There are not enough phones produced to fill the deman

d. This is known as
A) rarity.
B) scarcity.
C) production cost.
D) opportunity cost
Business
1 answer:
Verdich [7]3 years ago
8 0
B) Scarcity - the state of being scarce or in short supply; shortage.
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Chang Industries has 1,300 defective units of product that already cost $48 each to produce. A salvage company will purchase the
dolphi86 [110]

Answer: Sunk Cost

Explanation:

A sunk cost is an expense which a company or entity has already incurred and which cannot be recovered and so should not be considered when making decisions regarding incremental benefits or costs to an investment.

The $48 had already been incurred to produce the defective units and cannot be recovered so it is a sunk cost that should not be considered moving forward.

7 0
3 years ago
The following items are taken from the financial statements of Cullumber Company for 2022:
Doss [256]

Answer:

                                          Cullumber Company

                                          Balance Sheet

                                          As at 2022

Explanation:                      Amount in $

Current Assets

Accounts Receivable           12,500

Cash                                      13,000

Prepaid Insurance                  6,600

Supplies                                  4,600

Total Current Assets            36,700

Non-Current Assets

Equipment (225,000-36,900)  188,100

Total Assets                            <u>  </u><u>224,800</u>

Liabilities & Shareholders' Equity

Current Liabilities

Accounts Payable                10,600

Notes Payable                      65,000

Salaries Payable                      3,900

Total Current Liabilities           79,500

Equity

Common Stocks                      97,000

Retained Earnings (25,900+133,000-21,400-13,600-2,600-16,800-33,500-6,700)                                          64,300  

Dividends                                   (16,000)

 Total Equity                              145,300

Total Liabilities & shareholders' equity    <u>224,800</u>  

4 0
4 years ago
A process produces two types of products A and B. Product A is done in batches of 1000 units. It involves a setup time of 2 hour
aleksley [76]

Answer:

Explanation:

1. Only product A is produced

40 hours= 40*60*60 = 144,000 seconds

Run time 75 seconds

Setup time 2 hours

Batches= 1000 units

Run time to produce one batch of A = 1000*75sec = 75,000 seconds

Setup time = 2 hours = 7200 seconds

Remaining seconds = 144,000 - (75,000+7200) = 61,800 seconds

Product A manufactured in 61,800 sec = 61,800/75 = 824

Total Product A manufactured are = 1824 units

2. Only product B is produced

40 hours= 40*60*60 = 144,000 seconds

Run time 45 seconds  

Setup time= 1 hour

Batches= 500 units

To produce one batch of A = 500*45sec = 22,500 seconds

Setup time = 6 hours = 6*7200 seconds= 43,200sec

Remaining seconds = 144,000-(22,500+43,200) = 78,300 seconds

Product A manufactured in 78300 sec = 1740

Total Product A manufactured are = 500+1740= 2240 units

3. A and B are produced in a mix of 25% A and 75% B?

Considering loss of 3 hours setup time, 37 hours is left to produce

A is manufactured for = 25% of 37 hours = 9.25 hours = 33300 hours

B is manufactured for = 75% of 37 hours = 27.75 hours = 99900 hours

Production of A = 33300/75 sec= 444 units

Production of B = 99900/45 sec= 2220 units

6 0
3 years ago
Read 2 more answers
The equality-efficiency trade-off suggests that a. welfare programs stimulate incentives to work. b. inefficiencies result when
soldi70 [24.7K]

Answer:

The correct answer is letter "B": inefficiencies result when incentives to produce are reduced.

Explanation:

Equity-efficiency tradeoff takes place when attempting to optimize the production efficiency, distribution of wealth is diminished. The concept is always linked to moral philosophy because it implies taking about how people organize themselves in the way to produce and share their goods in a fairly. According to this point of view, when there is not enough motivation to produce inefficiencies arise.

7 0
3 years ago
Food Packaging, Inc., agrees to sell 50,000 6-ounce yogurt containers to Golden Dairy Company. Food can obtain only 20,000 of th
posledela

Answer:

Option C.

Explanation:

From the scenario presented above, Golden is not in any way liable for the inability to supply the total quantity of the 6-ounce yogurt containers, therefore, Golden can choose to reject the delivery of the 8-ounce containers.

Also, Golden can give Food Packaging a reasonable amount of time to enable them replace the containers, of Golden is not in a hurry to begin production and packaging.

5 0
3 years ago
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