Answer:
The correct answer is option B.
Explanation:
A firm sells a product in a purely competitive market.
The marginal cost of the product at the current output of 200 units is $4.00.
The average variable cost is $3.50.
The market price of the product is $3.00.
The market price is not covering the average variable cost. In this situation, the firm must be incurring losses. To minimize losses the firm should produce less than 1,000 units at the point where marginal cost is equal to market price and the average variable cost is being covered.
Answer:
$890,187
Explanation:
the number of equivalent units completed = units started + beginning work in process = 69,000 units + 29,000 = 98,000 units
the number of units completed and transferred out = 29,000 + 69,000 - 15,000 = 83,000
ending WIP equivalent units:
- materials cost 100% = 15,000
- conversion costs 50% = 7,500
total materials cost per unit = $555,000 / 98,000 units = $5.663265
total conversion costs per unit = $458,100 / 90,500 units = $5.061878
total cost of manufactured goods under the weighted average method = 83,000 x ($5.6633 + $5.0619) = $890,187
Unfortunately, this
question is incomplete. However, I believe the correct answer is Customer
Relationship Management (CRM). CRM is a
strategy for managing all your
company's relationships and
interactions with your customers and
potential customers. CRM can help improve
the profitability of a business.
The preparation of the multi step income statement is shown below
Pacific Scientific Corporation
Multi - step income statement
On December, 2021
Sales revenues $2,106
Less: Cost of goods sold -$1,240
Gross profit $866
Operating expenses
Less: Selling expenses -$126
Less: General and administrative expense -$105
Total operating expenses -$231
Operations income $635
Non operating and other items
Interest expenses -$40
Gain on sale of investment $45
Total non operating $5
Earning before taxes $640
Less- Income tax expense at 30% -$160
Net income $480
It is true that in a market system, consumers exercise consumer sovereignty, is crucial in determining the types and quantities of goods produced.
<h3>What is consumer sovereignty?</h3>
Consumer sovereignty refers to the control exercised by consumers' preferences on the production of goods.
Here, the consumers have the power to judge what goods as well as services are produced as the case maybe.
Learn more about consumer sovereignty here: brainly.com/question/4397035
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