All categories

4 years ago

When a hurricane rips through florida, the price of oranges rises because the:

1 answer:

7 0

When a hurricane rips through Florida, the price of oranges rises because the: supply curve shifts to left. Correct answer: C

The supply curve represents that the higher the price (all other things constant) the larger the quantity supplied. Shift of the position of the supply curve depends on several factors like change in costs, change in labour or raw material costs. In our case, the hurricane results in increase of the price of the oranges and decrease in the quantity of oranges supplied. (the curve shifts left).

You might be interested in

Perfect Pet Collar Company makes custom leather pet collars. The company expects each collar to require 2.05 feet of leather and

Katarina [22]

Answer:

1. $3.20 x 2.20 = $7.04

2. It will be favorable.

3. It will be unfavorable.

4. Direct material price variance = $22

Direct material quantity variance = 0.48

Explanation:

1. Standard direct cost per unit=cost of direct materials price x direct material standard quantity per unit.

2. It will be favorable because they expected or had budgeted to pay $3.60 per foot for the material but the actual cost became $3.20. So they pay $0.40 less than they had expected to pay.

3. It will be unfavorable because they had planed or budgeted for each unit to use 2.05 feet of leather but they ended up needing 2.20 feet of leather per collar so that means they under budgeted by 0.15 feet.

4. Direct material price variance =( $3.60 x 55) less ($3.20x55)=$22

The total amount that was budgeted or expected to be paid is subtracted from the total actual price that was paid.

Direct material quantity variance = (2.05x$3.20) less (2.20x$3.20)= -0.48

The total direct material quantity that is used is subtracted from the quantity that was expected to be used.

5 0

3 years ago

The preferred debt-to-income ratio is usually: A. 28 percent B. 36 percent C. 40 percent D. 50 percent

krek1111 [17]

the preferred debt to income ratio is usually B 36%

4 0

3 years ago

why would materials such as iron ore, steel, lumber, and coal be transported via ships from the united states to japan,rather th

BARSIC [14]

Idk so you need to ask somebody else because I’m really dumb and I don’t have the answer for u

7 0

3 years ago

Acellus Businesses management

Kobotan [32]

Here is the answer

https://www.science.edu/Acellus/curriculum/career-technical-education-courses/lesson-lists/Business%20Management%20Curriculum.pdf

7 0

3 years ago

Salmone Company reported the following purchases and sales of its only product. Salmone uses a perpetual inventory system. Deter

Digiron [165]

Date Activities Units Acquired at Cost Units Sold at Retail

May 1 Beginning Inventory 150 units at $10.00

5 Purchase 220 units at $12.00

10 Sales 140 units at $20.00

15 Purchase 100 units at $13.00

24 Sales 90 units at $21.0

Answer:

Value of closing inventory =$1290

Explanation:

Under the LIFO inventory system units of inventory are priced using the price of the most recent batch purchased and this continues in turn.

The value of closing inventory = Total cost of inventory available for sales - cost of goods sold

The cost of inventory sold would be determined as follows:

140 units :140 × $12=1,680

90 units : 90× $13 = 1,170

Total cost of goods = 1,680 + 1,170 = 2,850

Total cost of inventory available for sales would be equal to :

(150 × $10.00) + (220 ×$12.00) = 4,140

The value of closing inventory = Total cost of inventory available for sales - cost of goods sold

4,140 - 2,850 = $1290

Value of closing inventory =$1290

7 0

3 years ago