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natali 33 [55]
3 years ago
10

What does it mean to say that quantity supplied and price have a direct relationship

Business
1 answer:
sweet [91]3 years ago
6 0

This means the amount of a good that is avalible (quanity) will impact how much it is (price). The higher the quanity the lower the price. The lower the quanity the higher the price.

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For each of the following costs incurred in a manufacturing firm, indicate whether the costs are most likely fixed (F) or variab
Murrr4er [49]

Answer:

a. Depreciation on the building for administrative staff offices. (F) (P)

b. Cafeteria costs for the factory. (F) (M)

c. Overtime pay for assembly workers. (V) (M)

d. Transportation-in costs on materials purchased (V) (M)

e. Salaries of top executives in the company. (F) (P)

f. Sales commissions for sales personnel (V) (P)

g. Assembly line workers' wages (V) (M)

h. Controller's office rental. (F) (P)

i. Administrative support for sales supervisors (F) (P)

j Energy to run machines producing units of output in the factory. (V) (M)

Explanation:

Fixed Cost (F): Fixed cost is cost which is fixed and does not vary on the basis of production.

Variable Cost (V): Variable cost is cost which is not fixed and varies on the basis of production i.e. with the change in production, it also changes.

Product Cost (M): Product cost is a direct cost which is attributable directly in the creation of the product such as Direct Material, Direct Labour, etc.

Period Cost (P): A period cost is associated with the passage of time and is not included in the product cost, and is treated as an expense.

8 0
3 years ago
Satchel Inc purchases 10,000 shares of its own previously issued $10 par common stock for $290,000. Assuming the shares are held
BaLLatris [955]

Answer:

a. No effect

b. Decreases in total asset

c. No effect

d. Decreases in total stockholder equity

Explanation:

Given that

Number of shares purchased = 10,000 shares

Par value = $10

Common stock = $290,000

By using the above information, we can interpret that

a. There is no effect on the net income

b. The total asset is decreased by $290,000 as it reduces the cash balance for $290,000

c. There is no effect on the total paid-in-capital

d. Total stockholder equity is decreased by  $290,000

We assume that treasury stock is accounted for using the cash method

5 0
3 years ago
Roca Company originally issued 30,000 shares of $5 par common stock for $240,000 on January 3, 2020. Roca purchased 1,500 shares
hram777 [196]

Answer:

Date   Particulars                                    Debit          Credit

Jan 3  Cash                                           $240,000

                Common stock (30000*5)                       $150,000

                Paid-in-capital in excess                          $90,000

Nov 2  Treasury stock                            $15,000

                  Cash                                                         $15,000

Dec 6  Cash                                              $7,200

                  Treasury stock[75000/1500*600)          $6,000

                   Paid in capital from treasuty cash          $1,200

4 0
2 years ago
A company should use process costing, rather than job order costing, if:
dolphi86 [110]

Answer:

The product is composed of mass produced homogenous units.

Explanation:

Process costing is utilized when there is a large production of products that have similar features. In process costing the cost of each product produces is equivalent to the cost of other products. Example of products that undergo process costing include:chemicals, processed foods, textiles, paper, oil refinery, soap.

In process costing, the finished product gotten from each stage becomes the raw material of the next stage till the last stage of completion.

The production of product in process costing is continuous and the final product derived from the production process is as a result of a sequence of processes.

8 0
3 years ago
Suppliers, customers,​ employees, products and​ services, and​ ________ are the five basic components with which businesses must
tangare [24]
Invoices and payments
5 0
3 years ago
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