Answer:
B. the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.
Explanation:
a consumer surplus is the amount that exceeds the amount that a consumer actually pays for a product and the amount they are willing to pay
Answer:
The cost for conversion as per equivalent unit of production is $5.85
Explanation:
Formula for cost of conversion per equivalent unit of production =
Total cost / Equivalent units of production
Equivalent cost of production for conversion is given = 95,000 UNITS
CALCULATING TOTAL COST =
Cost of beginning work in progress + Cost incurred in February ( conversion )
= $36,000 + $ 520,000
= $556,000
Putting the values of total cost and equivalent units of conversion in formula-
= $ 556,000 / 95,000
= $5.85
Answer:
$27,300
Explanation:
Let husband's salary be x
Wife's salary is 15% more than husband's salary. This implies that wife's salary is 15% of x plus x.
Wife's salary = 0.15x + x
= 1.15x
Sum of their salaries = $58,695
Substituting the values in the equation:
58,695 = 1.15x + x
2.15x = 58,695
x = $27,300
Husband's annual salary is computed as $27,300
Answer:
Differential cost
Explanation:
Differential cost is defined as variance in cost that will be incurred between two courses of action. This is used to evaluate the best option of two investments under consideration.
The option that has more revenue will have less cost. So differential cost calculation is used to determine line of action that will bring least cost.
For example if one alternative action will entail use of a warehouse of $30,000, and the alternative is to use just in time inventory practice thereby requiring $10,000 in storage cost.
The best option is the just in time option
Annual growth rate of population is 16.3%
monthly growth rate = ?
Months in one year = 12
let x be the monthly growth of population.
16.3% = 0.163
1+ 0.163 = 1.163
Now, (1.163)¹/¹² = 1.01266
for monthly growth percent
1.01266 - 1 = 0.01266 = 0.01266 x 100 = 1.266%≈ 1.3%
