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3 years ago

At equilibrium in a market for a product, the total revenues received by sellers equal the

1 answer:

6 0

Equilibrium is a situation where the seller’s Revenue and buyers cost are equal or intersect each other. In other words, the point of Equilibrium can be understood a level at which the total revenues received by sellers equal the total amount spent by buyers on the product.

At equilibrium in a market for a product, the total revenues received by sellers equal the: <u>Total amount spent by buyers on the product</u>

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Wich of the following is not true of credit cards?

Alex

I think the answer is B

4 0

3 years ago

What are implicit costs? an implicit cost is

Yuki888 [10]

The correct option is "c".
An implicit cost is <span>a nonmonetary opportunity cost.

</span>Implicit costs refer to any cost that has already occurred however isn't really appeared or detailed as a different cost. It represents an opportunity cost that emerges when an organization dispenses inward assets toward a venture with no explicit compensation for the usage of assets.

3 0

3 years ago

C&A purchases fertilizer for its lawn-care business from a supplier who charges $30 per order and $50 per case. Each case co

Verdich [7]

Answer:

$1.5

Explanation:

Given:

Charges per order = $30

Charges per case = $50

1 case = 5 bags of fertilizers

Number of fertilizers bags needed per year = 2000 bags

Annual holding cost, C₀ = 30%

Now,

Annual demand for cases, D = $\frac{\textup{Number of fertilizers bags needed}}{\textup{Number of bags per case}}$

= $\frac{\textup{2000}}{\textup{5}}$

= 400 cases

thus,

Annual unit holding cost per case, $C_h$ = 30% of $50 i.e $15

Thus,

Economic Order quantity ( EOQ ) = $\sqrt{\frac{2C_oD}{C_h}}$

on substituting the respective values, we get

EOQ = $\sqrt{\frac{2\times30\times400}{15}}$

EOQ = 40

Now,

Annual ordering cost = Ordering cost × Number of orders

= C₀ × $\frac{\textup{annual demand}}{\textup{EOQ}}$

= $30 × $\frac{\textup{400}}{\textup{40}}$

= $300

Annual inventory holding cost

= Annual unit inventory holding cost × Average inventory

= $C_h$ × $\frac{\textup{EOQ}}{\textup{2}}$

= $15 × $\frac{\textup{40}}{\textup{2}}$

= $300

Now,

Sum of annual ordering and holding cost per case of fertilizer

= $300 + $300

= $600

Therefore,

Annual ordering and holding cost per case of fertiliser

= $\frac{\textup{600}}{\textup{Annual demand}}$

= $\frac{\textup{600}}{\textup{400}}$

= $1.5

7 0

3 years ago

In December 2016, Custom Mfg. established its predetermined overhead rate for jobs produced during 2017 by using the following c

Luden [163]

Answer:

POAR= 170% of the direct material cost.

Explanation:

Explanation:

The predetermined overhead absorption rate (POAR: The overhead absorption is a rate which is used to charge overheads to production units. Note that this rate is computed using estimated figures

The rate is computed as follows:

Predetermined overhead absorption rate

POAR

= (Budgeted overhead for the period/Budgeted direct material cost)× 100

= $680,000/400,00 × 100

= 170% of the direct material cost.

5 0

3 years ago

Excerpts from Dowling Company's December 31, 2021 and 2020, financial statements and key ratios are presented below (all numbers

yanalaym [24]

Answer:

The answer is "12.7"

Explanation:

In the question the correct choice is missing so, its correct solution can be defined as follows:

Following are the formula for calculating the "Average Inventory":

Formula:

$\therefore \text{Inventory Turnover} = \frac{ \text{Cost of Goods Sold}} { \text{Average Inventory}}\\\\\\\because \text{Average Inventory} = \frac{ \text{Cost of Goods Sold}} {\text{Inventory Turnover}}$

$=\frac{\$ \ 77}{ 6.05}\\\\=12.7\\$

7 0

3 years ago