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3 years ago

"the price elasticity of supply measures how much"

1 answer:

7 0

The price elasticity of supply measures how much the supply of a certain good/service responds to price change. Price change can impact the demand and in turn affect the supply of certain goods. Supply is considered elastic if there is a significant change in supply as the price changes, but if price does not significantly affect supply, then it is deemed inelastic.

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A company provides the following data for material costs: Standard cost per unit 3 pounds at $2 per unit Actual cost per unit 2.

satela [25.4K]

Answer:

Direct material price variance= $5,000 unfavorable

Explanation:

Giving the following information:

Standard cost per unit 3 pounds at $2 per unit

Actual cost per unit 2.5 pounds at $3 per unit

During the month, 5,000 pounds of raw materials were purchased.

<u>To calculate the direct material price variance, we need to use the following formula:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 3)*5,000

Direct material price variance= $5,000 unfavorable

6 0

3 years ago

Alvez reports net income of $355,000 for the year ended december 31. it also reports $119,700 depreciation expense and a $13,000

mash [69]

The correct answer is $284,200

4 0

3 years ago

Read 2 more answers

The management of Wyoming Corporation is considering the purchase of a new machine costing $375,000. The company's desired rate

Bezzdna [24]

Answer:

Option B is the correct answer,1.05

Explanation:

Present value index can be computed using the below formula:

present value index=present value of cash inflows/initial amount invested

present value of cash inflows=annual net cash flow*present value factor of annuity

annual net cash flow=$93,750

present value factor of annuity=4.212

present value of cash inflows=$93,750*4.212=$394,875.00

initial amount invested is $375,000

present value index=$394,875.00/$375,000 =1.053

The present value index of this project is approximately 1.05,which is the option B in the multiple choices

3 0

3 years ago

Syd is an economist putting together an economic model to predict the outcome from particular causes and effects in the economy.

Sholpan [36]

Answer:

The correct answer is (B)

Explanation:

Economists are helpful to predict future economic and financial phenomenon’s. In that regard, statistical or mathematical models are considered more appropriate and it is said that they provide better results. In the above scenario, Syd is attempting to construct an economic model for that, the suitable technique to examine the cause and effect to predict the outcomes are mathematical functions. The reason is that mathematical models are more appropriate to predicts cause and effect.

8 0

4 years ago

Lake Corp., a newly organized company, reported pretax financial income of $100,000 for 20X0. Among the items reported in Lake's

liubo4ka [24]

Answer:

b.$0

Explanation:

As we know that

When there is a temporary discrepancy between financial income and taxable income a deferred tax benefit or liability occurs. Temporary difference means an benefit or cost with respect to treatment that has just a timing gap.

Moreover, the Premium on officer's life insurance is tax deductible i.e $15,000 as it is paid by the company due to which difference arise between the financial and taxable income.

And,

Interest received on municipal bonds $20,000 are mostly exempt from federal income tax.

Therefore, it shows no such difference as it indicates the permanent difference

6 0

4 years ago