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3 years ago

Price serves the function of _____ for goods, services, and financial resources.

1 answer:

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Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.

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Given the following, calculate total manufacturing costs: Direct materials: $40,000; Direct labor: $100,000; Manufacturing overh

vfiekz [6]

Answer:

cost of goods manufactured= $278,000

Explanation:

Giving the following information:

Direct materials: $40,000

Direct labor: $100,000

Manufacturing overhead applied: $120,000

Beginning Work in process inventory: $30,000

Ending Work in process inventory: $12,000

<u>To calculate the total manufacturing costs, we need to use the following formula:</u>

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

cost of goods manufactured= 30,000 + 40,000 + 100,000 + 120,000 - 12,000

cost of goods manufactured= $278,000

4 0

3 years ago

4. When analyzing decisions that are made within a firm, economists typically assume that "profit maximization" is the firm’s ma

Valentin [98]

Answer: When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization

Explanation:

Companies tend to focus on the non-economic goals such as providing a good place for employees to work, good product and services to the customers and acts as a good citizen in the society. Achieving these goals are costly and doing so might interfere with profit maximization but in long term achieving them is beneficial to the company. When employees are provided with a conducive environment they perform better than normal and with good products and services customers are satisfied hence more profit. The CEO should ensure all department work with same goal for the benefit of the organization

8 0

3 years ago

Ann's attempt to open a salad bar in a small town failed. Her husband is trying to sell the tables and chairs she purchased. He

Vaselesa [24]

Answer: Qualifying

<span>Ann's husband is engaged in the qualifying process. He suspects Handlemann's Deli may be a potential buyer for the furniture he needs to sell. And he is now in the process of determining if Handlemann's Deli has a certain characteristic (inclination to purchase) to qualify him as his prospect.</span>

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3 years ago

Philip works at a graphic designing firm. He can efficiently work on various graphic design software. He can create visuals and

Mariana [72]

Answer:

technical skills

Explanation:

According to my research on different employment abilities, I can say that based on the information provided within the question this scenario illustrates that Philip has technical skills. These are procedures, techniques, and knowledge which allows you to use certain hardware/software that is required to get a job done.

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3 years ago

Read 2 more answers

Corporations have a distince advantage over other forms of business organization in the area of taxation. True False

seraphim [82]

Answer:false

Explanation:

5 0

2 years ago