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inessss [21]
3 years ago
12

For a normal​ good, a decrease in demand is represented as a

Business
1 answer:
Nina [5.8K]3 years ago
7 0

Answer:

C. leftward shift of the demand curve. 

Explanation:

A normal good is a good whose demand increases when income increases and falls when income falls.

The demand curve is represented as downward sloping curve. It slopes downward because the higher the price, the lower the quantity demanded and the lower the price, the higher the quanirty demanded.

A fall in demand is represented by a leftward shift of the demand curve. A rise in demand is represented by a rightward shift of the demand curve.

Factors that leads to a leftward shift of the demand curve:

1. Decrease in income

2. Change in taste - if consumers prefer other products

3. Season

4. Fall in price of substitutes

I hope my answer helps you

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On January 1, a company made a sale of $87,500, on credit. If the credit terms were 2/10, n/30, what would be the amount of the
worty [1.4K]

Answer:

b. $1750

Explanation:

Provided that

Sale of the company = $87,500

Credit terms = 2% if payment is received within 10 days and the prescribed time limit is 30 days

The amount of the sales discount would be

= Sale of the company × discount percentage

= $87,500 × 2%

= $1,750

We simply multiplied the sale of the company with the discount percentage so that the sales discount could come

6 0
2 years ago
Marcelino Co.'s March 31 inventory of raw materials is $88,000. Raw materials purchases in April are $530,000, and factory payro
shtirl [24]

Answer:

Marcelino Co.

a. Total materials purchases = $530,000

b. Direct materials used in production:

Beginning balance of direct materials = $73,000

Current direct materials used =              442,000

Total materials used in production =    $515,000

c. Direct labor paid and assigned to Work in Process Inventory:

                                        Job 307      Job 308           Total

Beginning Direct labor   $17,000                            $17,000

Current Direct labor       153,000     $102,000     255,000

Total Direct labor         $170,000     $102,000   $272,000

d. Indirect labor paid and assigned to Factory Overhead:

Indirect labor   $28,000

Applied =          $27,720 (99% ($193,000/$195,000))

e. Overhead costs applied to Work in Process Inventory

=

Job 307      Job 308           Total

76,500          51,000     $127,500

f. Actual overhead costs incurred and paid in cash:

Indirect materials                            $51,000

Indirect labor,                                 $28,000

Factory rent,                                  $40,000

Factory utilities,                             $25,000

Total overhead costs =                $144,000

g. Transfer of Jobs 306 and 307 to Finished Goods Inventory:

                                              Job 307      Job 308           Total

Balances on March 31

Direct materials                   $42,000                            $42,000

Direct labor                             17,000                               17,000

Applied overhead                   8,500                                 8,500

Costs during April

Direct materials                  210,000      $100,000     $310,000

Direct labor                         153,000        102,000      255,000

Applied overhead                76,500          51,000        127,500

Total cost                        $507,000     $253,000    $760,000

h. Cost of goods sold for Job 306 = $349,000

i. Revenue from the sale of Job 306 = $700,000

j. Assignment of underapplied overhead to the Cost of Goods Sold account:

Total overhead applied = $179,000

Total overhead incurred = 195,000

Underapplied overhead = $16,000

Explanation:

a) Data and Calculations:

Raw materials Inventory (March 31) $88,000

Purchases of raw materials during April = $530,000

Factory Payroll cost = $386,000

Overhead costs =

Indirect materials                            $51,000

Indirect labor,                                 $28,000

Factory rent,                                  $40,000

Factory utilities,                             $25,000

Factory equipment depreciation, $51,000

Total overhead costs =               $195,000

                                 Job 306      Job 307      Job 308           Total

Balances on March 31

Direct materials        $31,000     $42,000                            $73,000

Direct labor                 21,000        17,000                               38,000

Applied overhead      10,500         8,500                                19,000

Balances                 $62,500     $67,500                           $130,000

Costs during April

Direct materials      132,000      210,000      $100,000    $442,000

Direct labor             103,000      153,000        102,000      358,000

Applied overhead    51,500        76,500          51,000       179,000

Total cost            $349,000   $507,000     $253,000  $1,109,000

7 0
2 years ago
Toys, Trinkets and More requires a minimum rate of return of 12% on its average operating assets. The toy department currently h
Serggg [28]

Answer:

Residual Income = $6,000

Explanation:

Residual income is the excess income of a firm leftover the opportunity cost of capital or over the desired income.

Given,

The minimum rate of return 12%

Average operating assets = $300,000

Net operating income = $42,000

We know,

Residual Income = Net Operating Income - (Average operating assets x the minimum rate of return)

Residual Income = $42,000 - ($300,000 x 12%)

Residual Income = $42,000 - $36,000

Residual Income = $6,000

6 0
3 years ago
Parsley Corporation had 250,000 shares of common stock and 5,000 shares of 8%, $100 par, preferred stock outstanding on December
lianna [129]

Answer:

Explanation:

Calculation of total loss:

Net loss 320,000

Preferred dividend [5000*8%*100] 40,000

Total loss 360,000

Calculation of shares:

Common shares 250,000

Additional common stock [36,000*7/12] 21,000

Total shares 271,000

Loss per share = 360,000/271,000 = $1.328

7 0
3 years ago
Zupiter Corp. follows a culture that requires strict adherence to rules and regulations with fixed time schedules for daily acti
kotykmax [81]

Answer:

consistency corporate culture.

Explanation:

Since in the situation it is given that the corporation follows the culture that means they are strict to the rule and regulations along with the time scheduling that are fixed for day to day activities so that the business could be conducted in the methodical manner so here we can say that the culture of the corporate is consistent that means it is same as before and the same should be applied in near future

3 0
2 years ago
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