Answer:
Increase , increase
Explanation:
A decrease in the supply of a product increases in its price. Reduced supply means many buyers competing for the few available products. The prices of goods or services are determined by the intersection of the demand and supply curves. There is an indirect relationship between supply and price of quantity supplied when demand is constant. A reduced supply results in high prices while an increase in supply causes low prices.
As prices increase, suppliers will want to supply more to make profits. Constant demand and a high price will thus lead to an increase in equilibrium quantity.
Answer:
Closing Inventory = $31050
Explanation:
The cost of goods sold is the cost of the inventory that the business sells during a period of time. The cost of goods sold is calculated as follows,
Cost of Goods Sold = Opening Inventory + Purchases - Closing Inventory
As we already have the values for Opening inventory, net cost of purchases and the cost of goods sold, we can input these values in the above formula to calculate the cost of closing inventory.
93150 = 22950 + 101250 - Closing Inventory
93150 = 124200 - Closing Inventory
Closing Inventory = 124200 - 93150
Closing Inventory = $31050
Answer:
0.7699
Explanation:
The calculation of the probability that at least one stocks is shown below :-
∩ represents the interaction of sets.
while
∪ represents the set of all elements in the collections.
So,
P(A ∩ B) = P(B) × P(A ÷ B)
= 0.39 × 0.59
= 0.2301
P(A ∪ B) = P(A) + P(B) - P(A ∩ B)
= 0.61 + 0.39 - 0.2301
= 1 - 0.2301
= 0.7699
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Answer:
Break-even sales in dollar value = $10,667
Explanation:
Since the company's operating income is $0, the company makes no profit and no loss. Therefore, the company's total sales is equal to total expenses. It means the company is in break-even point. However, as the variable expense is not given, we have to use contribution margin ratio to calculate the break-even sales.
We know,
Break-even sales in dollar value = Fixed expenses ÷ Contribution margin ratio
Given,
Contribution margin ratio = 45%
Fixed expenses = $4,800
Putting the values into the above formula, we can get,
Break-even sales in dollar value = $4,800 ÷ 45%
Break-even sales in dollar value = $10,667
