Identify two advantages of dollar-value lifo compared with unit lifo.

"When Jiffy-Pop packaged its popcorn in an aluminum skillet, complete with attachable handle, it designed the package to become

user100 [1]

Answer:

Jiffy-Pop’s popcorn, in this case, is an example of innovative packaging.

Explanation:

The days have passed when packaging is merely a means to secure and label an item. These basic tasks must be performed by packaging in a successful product, however the effect of packaging is progressively higher. It's often appropriate to create many design elements in tandem, so that they are the best and most efficient packages within the project's objectives and limitations.

A new update or innovation may attract customers who are searching for economic benefit or who think they have an unsatisfied need or want. In the case of Jiffy-Pop, the customer need not to buy a skillet and a bowl to cook and place the popcorn, in fact both these functions are performed by the outer innovative packaging done by the Jiffy-Pop’s popcorn itself. Thus, customers tend to buy this product more compared to others.

8 0

3 years ago

Mostert Music Company had the following transactions in March: Sold music lessons to customers for $12,050; received $6,650 in c

bezimeni [28]

Answer:

Under Cash Basis all transactions for which cash is exchanged whether paid or received is accounted for.

Cash Basis Income Statement

Sales Revenue = $6,650

Customer Deposits = $4,550

Total Revenue = $11,200

Less: Expenses:

Wages = ($700)

Net Income = $10,500

Under Accrual basis, the transactions are recorded as to the period they relate, and it is not necessary to exchange cash for the same.

Accrual Basis Income Statement

Sales Revenue = $12,050

Total Revenue = $12,050

Expenses

Wages = ($700)

Utilities = ($330)

Total Expenses = ($1,030)

Net Income = $11,020

7 0

3 years ago

Airlines can price discriminate by determining people's _______ to pay for luggage accommodations. Some customers will check a b

mr Goodwill [35]

Answer:

Willingness to pay

Revenue

Two

Elastic

Inelastic

Explanation:

Price discrimination is when a producer or a seller charges different prices for the same product usually in different markets.

In price discrimination, a seller attempts to remove or reduce consumer surplus by charging the consumer at his willingness to pay. For price discrimination to be effective, a seller must be able to estimate the willingness to pay of consumers.

Price discrimination is successful when a seller earns higher profits when she discriminates compared to when she didn't price discriminate.

Price discrimination exists in the airline industry. One of the ways price discrimination exists in the airline industry is through charging to check bags. Customers ( people who board airplanes) are distributed into two groups- those who won't pay to check bags and those who would pay to check bags.

It is assumed that those who would pay to check their bags have a price inelastic demand because they are indifferent to paying an extra amount for their luggage.

Inelastic demand is defined as when a small change in price has no effect on quantity demanded.

While it is assumed that those who won't pay to check their bags have an elastic demand because they are unwilling to pay extra to check their luggages.

Elastic demand is when a change in price has effect on quantity demanded.

5 0

3 years ago

Funsters, Inc., the largest toy company in the country, sells its most popular doll for $15. It has just learned that its leadin

sukhopar [10]

Answer:

Funsters should increase the supply of its doll now before the other doll hits the market.

Explanation:

6 0

3 years ago

Our basketball team has finished $80\%$ of its season, during which we won $40\%$ of the games we played. What percent of the re

masya89 [10]

Answer:

90%

Explanation:

Let x be the total number of matches,

Given,

80% of games were finished,

So, the number of finished games = 80% of x = 0.8x

∴ Remained games= x - 0.8x = 0.2x

Now, 40% of 80% of games were won,

So, the winning games in 0.8x matches = 40% of 0.8x

= 0.4 × 0.8x

= 0.32x

In order to finish games with the same number of wins as losses,

Winning percentage in all games must be 50%,

Thus, the total winning games = 50% of x = 0.5x

Let y be the winning percentage in 0.2x games,

So, the total winning games in 0.2x games = $\frac{y\times 0.2x}{100}$

∵ Number of winning matches in 80% games + number of winning matches in 20% = total winning matches

⇒ $0.32x + \frac{0.2xy}{100}= 0.5x$

$\frac{0.2xy}{100}=0.18x$

$0.2y=18$

$\implies y=90$

Hence, the percent of winning the in the remaining games must be 90%.

6 0

3 years ago