With what kind of vocabulary should a person be familiar for reading the balance sheet of a restaurant easily?

A moderately-priced jewelry store is trying to differentiate itself from other jewelry stores. The store prices products somewha

AlekseyPX

Answer:

The correct answer is: monopolistic competition.

Explanation:

There is monopolistic competition in markets that have many companies offering similar products or services. Restaurants, grocery stores, and clothing stores, for example. Such similar products and services are not ideal substitutes for each other. In these industries the barrier to entry and exit is low.

8 0

3 years ago

If you must apply for a loan, you should?

Agata [3.3K]

First have good credit.

7 0

3 years ago

Any ideas on a gum packaging to send the gum to customers

Allisa [31]

Answer:

Grab some paper and wrap it around unchewed gum and do that for the amount of gum you want, Then put it in a small box.

3 0

3 years ago

Read 2 more answers

Rosario Company, which is located in Buenos Aires, Argentina, manufactures a component used in farm machinery. The firm’s fixed

julia-pushkina [17]

Answer:

- BEP in unit: 4,000 units;

- In case fixed cost increases by 10%, New BEP in unit: 4,400 units.

- Net income: 1,000,000p.

- BEP in units if sale price to decrease : 8,000 units => Price change should not take place as it moves the company from making 1 million peso profit to a loss as sales in units (1,200 + 5,000 =6,200) is lower than break-even point ( 8,000 units).

Explanation:

Please find detailed calculations as below:

- BEP in unit is calculated as Fixed cost/ Margin earned by one product = 4,000,000/(3,000 - 2,000) = 4,000.

- New BEP in unit is calculated as New Fixed cost/ Margin earned by one product = (4,000,000 x 1.1)/(3,000 - 2,000) = 4,400.

- Net income: Sales - fixed cost - variable cost = 3,000 x 5,000 - 4,000,000 - 2,000 x 5,000 = 1,000,000 p

- BEP in units if sale price to decrease: Fixed cost/ Margin earned by one product = 4,000,000/(2,500 - 2,000) = 8,000.

4 0

3 years ago

If management wants the most accurate product cost, which of the following costing methods should be used? a. Volume-based costi

Fynjy0 [20]

1. If management wants the most accurate product cost, which of the following costing methods should be used?

Answer:

c. Activity-based costing

Explanation:

In activity based costing, You only assign cost to a certain products and services based on your actual consumption. This will include indirect cost that might be overlooked by other from of costing methods.

For example, other type of costing might only account the total material or price of the machines when calculating the total cost of creating product. As a matter of fact, this will undervalue the total cost.

You need to calculate the expense that is not directly involved in the production but still necessary for the operation (such as the cost of fixing broken parts, the cost of daily maintenance, etc). All of these things will be included in activity-based costing.

2. Which costing method tends to overstate the cost of high-volume products?

Answer:

A. traditional volume based accounting

Explanation

Traditional volume based costing will calculate all overhead costs (such as salary paid per hour to employees) and include it to the overall cost of the production without any additional adjustment.

This will cause an overstate in the cost of high-volume products Because longer hours of work does not necessarily translate to proportionate increase in productivity.,

3. Disadvantages of activity-based costing include

Answer:

-It is not acceptable under GAAP for external reporting.

-It can be costly to implement.

Explanation:

GAAP does not accept activity-based costing becasue it overlooked Organization-sustaining costs that will exist regardless of how much goods the company produce. (For example Cost of factory security, Cost of electricity for heating and air conditioning and office administration rent).

Activity based costing can be costly because it need a more precise evaluation of their indirect cost. Which means that they need to hire more experts to specifically pay attention to indirect cost which often time untraceable by common employees.

5 0

3 years ago