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zubka84 [21]
3 years ago
8

Explain why an item that has many close substitutes tends to have an elastic demand

Business
1 answer:
Blababa [14]3 years ago
6 0
The item that has many close substitutes tend to have an elastic demand since this means that the consumers have a lot of variations to choose from. This makes the demand for the item very dependent on the number of consumers this item caters. The more substitutes mean more competition, more choices for the consumers, less demand for a particular item. 
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What is the historical development of accounting​
Vaselesa [24]

Answer:

Accounting history dates back to ancient civilizations in Mesopotamia, Egypt, and Babylon. For example, during the Roman Empire the government had detailed records of their finances. However, modern accounting as a profession has only been around since the early 19th century. The earliest accounting records were found over 7,000 years ago among the ruins of Ancient Mesopotamia. At the time, people relied on accounting to keep a record of crop and herd growth.

Explanation:

4 0
3 years ago
The following data have been provided by Moretta Corporation, a company that produces forklift trucks: Budgeted production 3,400
zloy xaker [14]

Answer:

B) $135 F

Explanation:

The computation of the variable overhead efficiency variance for supplies cost is given below:

= (Actual hours - Standard hours) × Standard Rate

= (10,930 hours - 3,800 × 2.9 hours) × $1.50 per hour

= (-90 hours) × $1.50 per hour

= $135 favorable

Hence, the variable overhead efficiency variance for supplies cost is $135 favorable

Therefore the option b is correct

8 0
3 years ago
I want to sell homework answers but I need to contact people without people finding out I did
zavuch27 [327]

Answer:

sell?

Explanation:

4 0
3 years ago
Events that occur after the December 31, 2021 balance sheet date, but before the balance sheet is issued, and provide additional
Serhud [2]

Answer:

C) used to record an adjustment to Bad Debt Expense for the year ending December 31, 2021.

Explanation:

Retained earnings account cannot be adjusted after December 31 (or whenever the balance must be done), but bad debt expense can be adjusted, specially if it increases.

Generally a company estimates it bad debt expense, the different methods used to estimate bad debts (allowance, percentage or aging methods) are used more commonly than the direct write-off method. But as every estimate, they can be close to reality or not.

E.g. some companies might have a very important client that represents a large portion of their credit sales, and if suddenly that large client that had always paid on time defaults, that event must be included in the balance sheet since the bad debts expense will increase significantly.

6 0
3 years ago
NoFly Corporation sells three different models of a mosquito "zapper." Model A12 sells for $61 and has variable costs of $43. Mo
pochemuha

Answer:

See explanation

Explanation:

We first calculate weighted avg total break even point.

The formula or this is,

Total Break even = Total fixed costs / Weighted avg contribution

Weighted avg contribution = (Contribution of A12 * Weight of A12) + (Contribution of B22 * Weight of B22) + (Contribution of C124 * Weight of C124)

Contribution/ Product =

A12 = 61 - 43 = $18

B22 = 108 - 78 = $30

C124 = 413 - 316 = $97

Thus,

Weighted avg Contribution = (18*0.56) + (30*0.27) + (97*0.17) = $34.67

Total Break even = 249624/ 34.67 = 10085 units in total

Simply multiply total break even units with each products weight to calculate qty for each product to b produced.

A12 = 10085*0.56 = 5647.6 units

B22 = 10085*0.27 = 2722.94 units

C124 = 10085*0.17 = 1714.45 units

as per the sales mix.

We can also calculate how many units of each individual product are required for break even as,

A12 = 249624/18 = 13868 units

B22 = 249624/30 = 8320.8 units

C124 = 249624/97 = 2573.44 units

Hope that helps.

6 0
3 years ago
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