One thing that can cause a shift in the demand curve is a change in one of the determinants of demand.
The law of demand can be shown as Pat wants to buy more candy bars at $1 than at $2
<h3>What does the law of demand say?</h3><h3 />
The law of demand posits that people will demand more of a good when the price is lower as opposed to when it is higher. This is why Pat will want to buy more candy bars when the price is lower at $1 as opposed to $2.
The demand curve will shift when there is a change in one of the determinant of demand such as the income of people and the price of substitutes.
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Answer:
WIP 5,040
Factory Overhead 5,040
Explanation:
280,000/25,000 = 11.2 per labour hor
Job labour hors x rate = overhead applied
450 x 11.2 = 5,040
We will increase the work in process, because there is no information about the job being complete.
And we will use the factory overhead account to post the applied overhead
Answer:
1. The highest risk for the exporter is in
d. Consignment sales.
Explanation:
a) A consignment sale is not an actual sale. The risk remains with the exporter until the consignee has sold the goods and remitted the required amount to the consignor (exporter). With a letter of credit, the exporter has made an actual sale guaranteed for payment by the importer's bank. With advance payment, the exporter has received some payment for the goods before the importer receives them. With a bill of exchange, there is a formal instrument acknowledging the sale. Therefore, a bill of exchange, letter of credit, and advance payment are used for actual sales, while consignment sale is for transfers of goods for sale.
In order to reduce the Juuling by 20%, price would have to rise by 50%.
<h3>What is price elasticity of demand?</h3>
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.
Price elasticity of demand = percentage change in quantity demanded / percentage change in price
Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one.
<h3>What should be the percentage rise in price?</h3>
0.4 = 20%/ price
price = 20% / 0.4
= 50%
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Answer:
The entry to record the transfer of materials from the storeroom is
Debit Work in process $ 36,000
Debit Factory overhead control $ 6,000
Credit Material Account $ 42,000
The material is accounted in material stock account when purchase. Latter if material is used directly it is taken in work in process account. Indirect material is accounted in FOH account.
