Example of a situation in which a surplus of a product leads to decreased prices is food staples in America.
An example of a situation in which a shortage leads to increased prices is increasing prices of fuel due to a lack of fossil fuel availability.
<h3 /><h3>What is refers as a surplus of any product?</h3>
Surplus of any product refers to a situation when the availability of goods is in more quantity whereas the demands for the products are sufficient which makes it decrease in the prices of products.
Food staples like frozen foods and vegetables along with eggs are considered a surplus product in America.
The prices of fossil fuels are increasing in the world as they are obtained through fossils that are not available in abundance which creates high demands for daily consumption and results in shortage.
Learn more about the shortage, here:
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Answer:
Correct answer is a.$13,500.
Explanation:
To calculate work in process ending inventory we will add opening balance of work in process to all cost transferred to work in process during the period. The cost of good manufactured is subtracted from it. Cost of good manufactured become part of finished good inventory. Detail calculation is given below.
WIP opening balance $ 11,000
Direct Material $ 27,000
Direct Labour $ 25,000
FOH $ 18,750 (75%* 25,000)
Cost of goods manufactured ($68,250)
WIP ending balance $ 13,500
Answer:
1. 10 Oct 2018 Inventory $59500 Dr
Accounts Payable $59500 Cr
2. 13 Oct 2018 Accounts Payable $1700 Dr
Inventory $1700 Cr
Explanation:
1. The Textbook store is purchasing the books at $17 per book and in total 3500 books are purchased on credit. So, we debit the inventory account by 59500 (3500 * 17) and credit the Accounts Payable by 59500.
2. This transaction relates to Purchases return which in this case is our inventory of books. Textbook store will record this transaction in its books by debiting the Accounts Payable account by the value of the books returned 1700 (170* 100) and credit its inventory by 1700. The last line pertains to total estimation of sales returns by Piranha so we do not need to consider that while preparing transactions in Textbook store's books.
Answer:
(d) Leniency
Explanation:
Based on the information provided within the question it can be said that this scenario is an example of leniency. This is a rater's bias in which a rater gives an individual a rating that may be a little too positive based on the factors that they need to be taking into account when rating. Such as is the case in this scenario since Linda gave Jan excellent ratings even though her performance is average at best.
Answer:
The correct answer is letter "D": gives its employees opportunities to learn new skills.
Explanation:
The matrix organization is an approach implemented by companies having more than one production process in place at the same time. There are no fixed managerial structures with this organizational model but there is a flexible hierarchy with two types of managers: <em>the functional manager and the project manager</em>. Both managers switch roles as necessary.
Resources are shared among all departments with the matrix organization reducing costs and increasing efficiency. <em>Lines of communication between departments are flexible and open allowing employees to learn skills needed for other units.</em>
