You must decline an employee's request to telecommute three days per week. Which of the following statements best explains why t
1 answer:
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Answer:
16.42
Explanation:
Data provided in the question:
Cost of goods sold = $548,600
Beginning inventory of the year = $31,283
Ending inventory of the year = $35,538
Now,
the Inventory turnover ratio is calculated as;
⇒ ( Cost of goods sold ) ÷ ( Average inventory of the year )
Also,
Average inventory of the year =
=
= $33,410.5
Therefore,
Inventory turnover ratio = $548,600 ÷ $33,410.5
= 16.42
Answer: Hello your question is poorly written attached below is the complete question
answer:
a) Cs = 800,000 , Ps = 1,500,000
b) Cs = 1437500, Ps = 525,000
Explanation:
Demand function ( Qd ) = 200,000 - 4000 P
supply function ( Qs ) = 20,000 + 2000 P
at equilibrium : 200,000 - 4000P = 20,000 + 2000P
therefore ; P = 180,000 / 6000 = 30
Q = 20,000 + 2000 ( 30 ) = 80,000
<u>a) Determine consumer and producer surplus in the market</u>
consumer surplus ( Cs ) This is the area above the price and below the demand curve = 1/2 * ( 50 - 30 ) 80,000 = 800,000
producer surplus ( Ps ) This is the area above supply and below price
= 30 * ( 80,000 ) - 1/2 (80,000 - 20,000 ) (30)
= 1,500,000
<u>b) Determine the new levels of consumer and producer surplus with a price ceiling of $15 </u>
Pc (ceiling price ) = $15
Qd = 200,000 - 4000 ( 15 ) = 140,000
Qs = 20,000 + 2000 ( 15 ) = 50,000
∴ New consumer surplus = area ( a , Pc, b, d )
= ( 30 - 15 ) (50,000) + 1/2(50-30) (80,000) - 1/2 (80,000 - 50,000 ) (37.5 - 30)
= 1437500
New producer surplus = area ( Pc , b, e 0 )
= ( 15 ) ( 50000) - 1/2 ( 50,000 - 20,000 ) (15)
= 525,000
