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Arada [10]
3 years ago
13

Which of the following statements is true of the economic choices that consumers make

Business
1 answer:
RSB [31]3 years ago
5 0
Can you list the options?
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gross domestic product understates the total production of final goods and services because of the omission of
Aleks04 [339]

90% sure that your answer is <em>(household production) </em>

<em></em>

<em>Hope this helps!</em>

5 0
3 years ago
What factors under the control of owners and managers make a firm successful and allow it to earn economic​ profits?
mafiozo [28]

Answer: E. The firm's ability to differentiate its product

Explanation:

The factor under the control of owners and managers that make a firm successful and allow it to earn economic​ profits is the firm's ability to differentiate its product.

Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.

8 0
2 years ago
Discuss the errors that can be detected through a trial balance. How are they spotted and corrected? Consider a particular type
o-na [289]

Answer:

bhhhhhhhhhhh

hhh

Explanation:

6 0
2 years ago
Given the following data for Harder Company, compute cost of goods manufactured: Direct materials used $120,000 Beginning work i
il63 [147K]

Answer:

c. $480,000

Explanation:

Cost of goods manufactured        $

Direct materials used               120,000

Direct labor                               200,000

Manufacturing overhead         150,000

Beginning work in process      20,000

Ending work in process          <u> 10,000  </u>

Cost of goods manufactured <u> 480,000 </u>

So, Correct option is c. $480,000

4 0
3 years ago
Using FIFO for Multiproduct Inventory Transactions (Chapters 6 and 7) [LO 6-3, LO 6-4, LO 7-3] Skip to question [The following i
expeople1 [14]

Answer:

1-a. Dollars of gross profit from selling tags = $9,180

1-b. Dollars of gross profit from selling cases = $1,500

1-c. Gross profit percentage from selling tags = 72.86%

1.d. Gross profit percentage from selling cases = 83.33%

2-a. Tag yields more dollars of profit.

2-b. Tag yields more profit per dollar of sales.

Explanation:

Note: The requirements for this question are two not three as erroneously stated. This is because, the first and the third question are the same. Therefore, the two relevant requirements of the question are:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

The explanation of the answers is now given as follows:

1. Calculate the dollars of gross profit and the gross profit percentage from selling tags and cases.

Sales revenue from tags = Sales value of 160 tags mailed to customers on Jan. 8 at a price of $30 per tag + Sales value of 260 tags mailed to customers on Jan. 21 at a price of $30 per tag = (160 * $30) + (260 * $30) = $12,600

Sales revenue from cases = Sales value of 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120 * $15 = $1,800

Total number of tags sold = 160 tags mailed to customers + 260 tags mailed to customers on Jan. 21 = 420

Total number of cases sold = 120 cases mailed to customers on Jan. 19 at a price of $15 per case = 120

Using FIFO, we have:

Cost of tags sold = Value of 260 tags purchased on Jan.2 from Xioasi Manufacturing (XM) at a cost of $7 per tag + Value of the remaining 160 (i.e. 420 – 260 = 160) tags sold based on the 360 tags purchased on Jan. 11 from XM at a cost of $10 per tag = (260 * $7) + (160 * $10) = $3,420

Cost of cases sold = Value of 60 cases purchased on Jan.4 from Bachittar Products (BP) at a cost of $2 per case + Value of the remaining 60 cases sold based on the 160 cases purchased on Jan. 14 from BP at a cost of $3 per case = (60 * $2) + (60 * $3) = $300

Therefore, we have:

1-a. Dollars of gross profit from selling tags = Sales revenue from tags - Cost of tags sold = $12,600 - $3,420 = $9,180

1-b. Dollars of gross profit from selling cases = Sales revenue from cases - Cost of cases sold = $1,800 - $300 = $1,500

1-c. Gross profit percentage from selling tags = (Dollars of gross profit from selling tags / Sales revenue from tags) * 100 = ($9,180 / $12,600) * 100 = 72.86%

1.d. Gross profit percentage from selling cases = (Dollars of gross profit from selling cases / Sales revenue from cases) * 100 = 83.33%

2. Which product line yields more dollars of profit? - Which product line yields more profit per dollar of sales?

2-a. Which product line yields more dollars of profit?

From part 1 above, we have:

Dollars of gross profit from selling tags = $9,180

Dollars of gross profit from selling cases = $1,500

Since the dollars of gross profit from selling tags of $9,180 is greater than the dollars of gross profit from selling cases of $1,500, this implies that Tag yields more dollars of profit.

2-b. Which product line yields more profit per dollar of sales?

From part 1 above, we have:

Total number of tags sold = 420

Total number of cases sold = 120

Therefore, we have:

Tag's profit per dollar of sales = Dollars of gross profit from selling tags / Total number of tags sold = $9,180 / 420 = $21.86

Case's profit per dollar of sales = Dollars of gross profit from selling cases / Total number of cases sold = $1,500 / 120 = $12.50

Since Tag's profit per dollar of sales of $21.86 is greater than Case's profit per dollar of sales of $12.50, this implies that Tag yields more profit per dollar of sales.

6 0
3 years ago
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