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3 years ago

A monopoly is most likely to emerge in a market when

Business

1 answer:

Zanzabum3 years ago

5 0

Answer: there is only one producer of a commodity

Explanation: In simple words, monopoly refers to a market structure in which there is only one participant in the market who is making available the commodity to the customers.

Monopoly can arise from a number of factors such as patents rights, new invention etc. Sometimes the govt. of a country finds it suitable to handle a particular industry for the national benefit such as defense.

Although monopolist is the single producer but still he or she cannot charge any price as the rule of price and demand is applies to monopoly also.

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Mallory Furniture buys two products for resale: big shelves (B) and medium shelves (M). Each big shelf costs $500 and requires 1

Ghella [55]

Answer:

The answer is D

Explanation:

Solution:

Recall that:

Malloy Furniture purchases two products: Big shelves B and Medium shelves M

The cost of big shelf is =$500

The space required = 100 cubic feet

The cost of each medium shelf is =$300

Storage space = 90 cubic feet,

Now,

Since the values 100 and 90 is greater than 18000 cubic feet available for storage, what is required would be 100 big shelves and 100 medium shelves

5 0

3 years ago

Clark Company manufactures a product with a standard direct labor cost of two hours at $18.00 per hour. During July, 2,000 units

Butoxors [25]

Answer:

The correct answer is B)$3600 U.

Explanation:

The labor quantity variance is difference between actual hours consumed to produce the product and standard hour that should be taken to produce the product. The detail calculation are given below.

labor quantity variance= Standard rate (Standard quantity - actual quantity)

= 18 (4,000-4,200)

= $ 3,600 un-favorable

Labor quantity variance is un-favorable. Which means more labor cost due to more labor hour comsumed.

5 0

3 years ago

A company uses the weighted average method for inventory costing. At the start of a period the production department had 28,000

yaroslaw [1]

Answer: $4.38

Explanation:

Conversion costs are based on completed units so those units that are yet to be completed will be converted into equivalent units.

Units produced = Units completed and transferred out + equivalent WIP

= 169,000 + (26,000 * 79%)

= 169,000 + 20,540

= 189,540 units

Total Conversion costs = beginning conversion costs + conversion costs added during period

= 103,000 + 726,925

= $829,925‬

Conversion cost per equivalent share

= 829,925‬/189,540

= 4.3786

= $4.38

6 0

3 years ago

Shmenson Company uses the periodic inventory system. Sales for 2020 were $470,000 while operating expenses were $175,000. Beginn

jeka94

Answer:

The net income for 2020 was $90,000

Explanation:

Shmenson Company

Income Statement for the year ended 2020

Sales $470,000

Less Cost of Sales

Beginning Inventories $70,000

Add Net purchases $180,000

Add Freight In $15,000

Less Ending Inventories ($60,000) ($205,000)

Gross Profit $265,000

Less Expenses

Operating expenses ($175,000)

Net Income $90,000

Conclusion

Thus, the net income for 2020 was $90,000.

8 0

2 years ago

Sheffield Company had sales in 2019 of $1,842,400 on 65,800 units. Variable costs totaled $1,184,400, and fixed costs totaled $4

vlada-n [284]

Answer:

Assuming that no changes happened, 2020 sales and expenses should be similar to 2019's:

Total Per unit

Total sales $1,842,400 $28

Variables costs ($1,184,400) ($18)

Contribution margin $658,000 $10

Fixed costs ($498,000) ($7.57)

Operating income $160,000 $2.43

5 0

3 years ago