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3 years ago

Consumers affect which goods and services are produced because they

1 answer:

8 0

Consumers affect which goods and services are produced because they are the primary purpose why businesses offer goods and services in the first place. The market is difficult to estimate because it is highly dependent on the whims of the consumers. So, if the trend suggests that a certain type of goods is not anymore socially famous, then consumers would stop patronizing them. In the end, businesses would have to find more ways to innovate so as to keep up with the consumers' interests.

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In the purchasing decision process, the ________ are those who have the power to prevent sellers or information from reaching me

VikaD [51]

Answer: The gate keeper

Explanation: The gate keeper in purchase decision making, is the individual who works directly for the decision maker. The gate keeper gives key advice to the decision maker when making purchase, to either make a deal or not.

The gatekeeper has the ability of stopping information about a product from getting to the key decision maker in purchase.

5 0

3 years ago

At the end of April, Cavy Company had completed Job 766 and 765. According to the individual job cost sheets the information is

bija089 [108]

Answer:

Job Direct Materials Direct Labor overhead Total Job cost

Job 765 $6,160 $1,848 $3,366 $11,374

Job 766 $10,944 $3,456 $9,792 $24,192

For Job 765 = $86.167

For Job 765 = $126

Explanation:

Data provided in the question:

Job Direct Materials Direct Labor Machine Hours

Job 765 $6,160 $1,848 22

Job 766 $10,944 $3,456 64

Overhead rate = $153 per hour

Job 765 consisted = 132 units

766 consisted = 192 units

now,

Overhead = Machine Hours × Overhead rate

For Job 765 = 22 × 153

= $3366

For Job 766 = 64 × 153

= $9792

Total job cost i.e balance on the job cost sheets

= Direct Materials + Direct Labor + overhead

Job Direct Materials Direct Labor overhead Total Job cost

Job 765 $6,160 $1,848 $3,366 $11,374

Job 766 $10,944 $3,456 $9,792 $24,192

Cost per unit = [ Total job cost ] ÷ Total units

For Job 765 = $11,374 ÷ 132

= $86.167

For Job 765 = $24,192 ÷ 192

= $126

8 0

3 years ago

Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year-end, the Work in Process Inventory accou

kotykmax [81]

Answer:

1. Overhead rate = Overhead costs / Direct material costs

Overhead rate = $684,000 / $1,900,000

Overhead rate = 0.36

Overhead rate = 36%

2. How much direct labor cost and overhead cost are assigned to this job?

Total cost of job in process $71,000

Less: Overhead applied $7,920

($22,000 * 36%)

Less: Material cost of job in process <u>$22,000</u>

Direct labor cost <u>$41,080</u>

Hence, direct labor cost is $41,080 and Overhead cost is $7,920

8 0

3 years ago

Suppose you are a manager of a firm that operates in a duopoly. Recently, the state attorney general fined you and your competit

postnew [5]

Answer and Explanation:

When there is price fixing between two competitors, if one competitor chooses to fix the price it should not exceed competutors marginal cost and should be above his marginal cost.

Since the price fixing of $10 will be fined then the ideal price to maximize the profit would be below the competitors price $ and above his marginal cost $.

The ideak price to maximize profits would be (competitors price $ + his marginal cost $)/2, This price would be above his marginal cost and below competitors price.

3 0

3 years ago

Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2,500 units in ending work in proce

SpyIntel [72]

Answer:

$55,000

Explanation:

Calculation for the total cost assignable to the ending work in process inventory

First step is to calculate the ending Materials Cost:

Ending Materials Cost = [(2,500 units × $10]

Ending Materials Cost = $25,000

Second Step is to calculate the ending Conversion Cost:

Ending Conversion Cost = [(2,500 units × 40%) × $30]

Ending Conversion Cost = [(1,000) × $30]

Ending Conversion Cost = $30,000

Last step is to calculate the total cost assignable to the Ending work in process inventory cost using this formula

Ending work in process inventory cost = Ending Materials Cost + Ending Conversion Cost

Let plug in the formula

Ending work in process inventory cost = $25,000 + $30,000

Ending work in process inventory cost = $55,000

Therefore the total cost assignable to the ending work in process inventory is $55,000

3 0

3 years ago