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4 years ago

How do changes in consumer income and tastes affect movement of the demand curve?

Business

1 answer:

dezoksy [38]4 years ago

4 0

Answer:

Explanation:

An outward shift in demand will occur if income increases, in the case of a normal good; however, for an inferior good, the demand curve will shift inward noting that the consumer only purchases the good as a result of an income constraint on the purchase of a preferred good.

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The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months w

romanna [79]

Budgeted units of inventory for March 31 is 46000.

<h3>What is Ending Inventory?</h3>

The product that remains in the company's possession at the end of the fiscal year is referred to as ending inventory. These goods are prepared to be distributed to the client and sold in the upcoming fiscal year.

Solution:

Finished goods inventory = 55,000 units

Projected sales for January = 200,000 units

Projected sales for February = 180,000 units

Projected sales for March = 210,000 units

Projected sales for April = 230,000 units

Desired ending finished goods inventory = 20%

Calculation:

Ending inventory of March = Desired ending finished goods inventory * Projected sales for April

= 20% * 230,000

= 46,000 units

To learn more about Ending Inventory visit:

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Correct Question:

The Cardinal Company had a finished goods inventory of 55,000 units on January 1. Its projected sales for the next four months were: January - 200,000 units; February - 180,000 units; March - 210,000 units; and April - 230,000 units. The Cardinal Company wishes to maintain a desired ending finished goods inventory of 20% of the following month's sales.

What is the budgeted units of inventory for March 31?

a. 42,000

b. cannot be determined from the data given.

c. 36,000

d. 46,000

8 0

2 years ago

If Push Company owned 51 percent of the outstanding common stock of Shove Company, which method would be appropriate for financi

Alexus [3.1K]

Answer:

Consolidation

Explanation:

Holding method is required for the parent company for financial reporting if the parent company owns 51 percent of more outstanding common stock in the subsidiary.

Here consolidate refers to the combining of total assets and liabilities of two or more entities into one so that it could be maintained as a one firm

Therefore for financial reporting consolidation is appropriate

6 0

3 years ago

American Chemical Company manufactures a chemical compound that is sold for $52 per gallon. A new variant of the chemical has be

Leona [35]

Answer:

a. The total profit would be positively affected as it increases

Explanation:

1. We calculate the value of revenue per 8000 gallons with the initial chemical compound and processed into the new variant

Revenue Initial Chemical Compound= 8000 gallons X ($52/gallon)

Revenue Initial Chemical Compound= $ 416.000

Revenue Chemical compound processed into the new variant=8000 gallons X ($83/gallon)

Revenue Chemical compound processed into the new variant= $ 664.000

2. If we consider that the other production costs will be the same for the two chemical compounds, then the only difference will be the processing cost to refine the basic compound into the new variant. For this reason, we substract only the value of processing the basic compound into the new variant for the revenue of this.

$ 664.000 - $160.000= $504.000

3. The benefit values for each case are:

Initial Chemical Compound: $416.000

Chemical compound processed into the new variant: $504.000

In conclusion, greater benefit is obtained by processing the basic compound in the new variant than if the basic compound were sold only

3 0

3 years ago

The following data were gathered to use in reconciling the bank account of Photo Op. Company: Balance per bank $ 14,400 Balance

givi [52]

Answer:

$11,160

Explanation:

The computation of the adjusted balance on the bank reconciliation is shown below:

For Bank balance

= Balance per bank + Deposit in transit - Outstanding checks

= $14,400 +$2,120 - $5,360

= $11,160

For book balance:

= Balance per company records - NSF checks - Bank service charges

= $12,005 - $780 - $65

= $11,160

8 0

3 years ago

Short Answer: A marketing specialist needed to find a new way of marketing the company's main product to its potential clients.

sattari [20]

Answer: The stage in the creative process is the evaluation stage.

The stage before this is the Illumination stage.

The stage after this is the verification stage.

Explanation:

The creative process is simply about how ideas evolve to its final stage through through the way we think and our actions. For one to do this, the individual must possess problem-solving skills and be able to think critically. The stages involved are:

1. Preparation

2. Incubation

3. Illumination

4. Evaluation

5. Verification.

Based on the question, the marketing specialist is in the evaluation stage.

The stage before this is the Illumination stage and the stage after this is the verification stage.

In the illumination stage, new connections are being formed and the individual gets answer to his or her creative quest.

The verification stage is the final stage and this is when the creative process becomes a reality and the idea is then shared.

6 0

3 years ago