The price elasticity of demand is equal to the ________ in the ________ divided by the ________ in the _______

Harold's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its

Pavel [41]

Answer:

Demographic

Explanation:

Harry's caters to the clothing needs of men, manufacturing two different lines of fashion based on the purchasing power of its customer . One product line caters to the needs pf affluent , middle-aged men , and the other line targets younger , up -and - coming professionals . Harry's most likely segments the consumer market is based on demographic variables.

The statistical data of the population of the people is known as demographics . Demographics contain age , gender , income etc.

Demographic is important for the company as it help the company to tell about how to market and how to develop the brand. It helps in telling the behavior of the customer towards the product means whether the people liking the product or not liking the product . It is consider as the best way to reach to the people and know about their preference for the product.

8 0

3 years ago

Which of the following statements concerning ideal standards is incorrect?

lbvjy [14]

Answer:

C. Ideal standards are better suited for cash budgeting than practical standards

Explanation:

The standards that basically handles no work interruptions or no machine breakdown is called ideal standards.

8 0

3 years ago

An investment counselor calls with a hot stock tip. He believes that if the economy remains strong, the investment will result

mixer [17]

Answer:

6,000

Explanation:

The expected value from this investment can be calculated by possible values for random variables by multiplying them by their probability

DATA

Strong = 30,000 , probability = 30%

Moderate = 10,000 , probability = 60%

Weak = -30,000 , probability = 10%

Calculation

Expected profit = Values x Probability

Expected profit = (30,000 x 30%) + (10,000 x 60%) + ( 30,000 x 10%)

Expected profit = 6,000 + 6,000 -6,000

Expected profit = 6,000

7 0

3 years ago

Adirondack Marketing Inc. manufactures two products, A and B. Presently, the company uses a single plantwide factory overhead ra

Eddi Din [679]

The factory overhead allocated per unit of Product A in the Painting Department is $ .

Given,

Overhead Total direct DLH per product

Labour Hours A B

Painting dept. $241000 10500 8 11

Finishing dept. $69700 10500 5 6

Totals $311400 21000 13 17

Single overhead rate per hour = total overheads/ total labor hours

Now, substituting the values in the formula

Single overhead rate per hour = 311400/21000

= $14.83 per labor hour

Now, direct labor hours for product A for the Painting department = 16 hours

Overhead rate per unit of product A in the painting department = 16 hours × $14.83 per hour

Overhead rate = $237.28 per unit

Thus, Adirondak Marketing Inc. would allocate $237.28 to the painting department for 1 unit of Product A.

Learn more about factory overhead:

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8 0

2 years ago

During March, Hanks Manufacturing started and completed 30,000 units. In beginning work in process, there were 5,000 units 60 pe

Delvig [45]

Answer:

Equivalent units

Materials= 40,000 units

Conversion= 36,000 units

Explanation:

Equivalent units are notional whole units which represent incomplete work and are used to apportion cost between work progress and completed work

Equivalent units = Degree of work done(%) × units of inventory

Conversion cost

Item equivalent units

Opening inventory 40% × 5,000 = 2,000

Fully worked units 100% × 30,000= 30,000

Closing inventory 40%× 10,000= 4,000

Total equivalent unit 36,000

Notes

The following notes explains the computation of the items of equivalent unit for conversion cost:

1. DOC for opening inventory is 40% i.e 100%-60%. Remember that 60% work has been done in the previous period, so the balance is to be done in this current period

2. Fully work represent the units of inventory introduced in the current period and completed in the same period. Meaning 100% work was achieved in the period.

3. Closing work is only 40% completed. This represent work started this period but not yet completed.

Material cost

Item equivalent units

Opening inventory 0% × 5,000 = 0

Fully worked units 100% × 30,000= 30,000

Closing inventory 100%× 10,000= 10,000

Total equivalent unit 40,000

Notes

The following notes explains the computation of the items of equivalent unit for Material cost:

1. DOC for opening inventory is 0% i.e 100%-1000%. Remember that materials are added at the beginning. Hence all the materials required for the opening inventory had been added in the previous period

2. Fully work represent the units of inventory introduced in the current period and completed in the same period. Meaning 100% materials was added in the period.

3. All the materials required for the closing inventory were added in this period, hence, 100% degree of completion was used

Equivalent units

Materials= 40,000 units

Conversion= 36,000 units

5 0

3 years ago

The price elasticity of demand is equal to the​ ________ in the​ ________ divided by the​ ________ in the​ ________.

The price elasticity of demand is equal to the in the divided by the in the .