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3 years ago

If the price for widgets was set at $4

Business

2 answers:

saw5 [17]3 years ago

8 0

The correct answer was

D) producers would discover that the price should be lowered.

grin007 [14]3 years ago

5 0

If the price for widgets was set at $4 D) producers would discover that the price should be lowered.

The price would be discovered as wanting to be set at a lower rate due to the price where the number sold and the price point they would purchase the most at is at $2.50. If the price was set at $2.50 demand and supply would be at an equal therefor the product would be moving and demanded at the same rate.

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Yard Tools manufactures lawnmowers, weed-trimmers, and chainsaws. Its sales mix and unit contribution margin are as follows. Sal

Damm [24]

Answer:

Total Break even sales = 154,000 units

Lawnmowers ($154,000 × 20%) = 30,800 Units

Weed-trimmers ($154,000 × 50%) = 77,000 units

Chainsaws ($154,000 × 30%) = 46,200 Units

Explanation:

As per the data given in the question, the computation is shown below:

Weighted contribution margin = Contribution margin × Sales mix

= (0.2 × 30) + (0.5 × $21) + (0.3 × $39)

= $28.2

Now, Total break even sales = Fixed cost ÷ Weighted contribution margin

= $4,342,800 ÷ $28.2

= 154,000 units

So classifications are as follows

Lawnmowers ($154,000 × 20%) = 30,800 Units

Weed-trimmers ($154,000 × 50%) = 77,000 units

Chainsaws ($154,000 × 30%) = 46,200 Units

We simply multiplied the total break even sales with each sales mix

7 0

3 years ago

Suppose that when the price of hamburgers rises by 7%, the quantity of ketchup demanded at the current price of ketchup falls by

Kisachek [45]

Answer:

0.42

Explanation:

Income elasticity of demand measures the responsiveness of quantity demanded to changes in income.

If the absolute value of income elasticity of demand is greater than one, it means demand is elastic.

If the absolute value of income elasticity of demand is less than one, it means demand is inelastic.

Income elasticity of demand = percentage change in quantity demanded / percentage change in income

5/12 = 0.42

7 0

3 years ago

A company's Inventory balance at the end of the year was $188,000 and $200,000 at the beginning of the year. Its Accounts Payabl

Aloiza [94]

Answer:

$704,000

Explanation:

As we know that

Costs of goods sold = Beginning inventory + purchase made - ending inventory

$720,000 = $200,000 + purchase made - $188,000

So, the purchase would be

= $708,000

Now the cash payment would be

= Beginning balance of accounts payable + purchase - ending balance of accounts payable

= $80,000 + $708,000 - $84,000

= $704,000

7 0

4 years ago

During the current month, a company that uses job order costing purchases $50,000 in raw materials for cash. It then uses $12,00

Maksim231197 [3]

Answer:

Please see details below:

Explanation:

Raw materials inventory $ 50.000

Cash $50.000

*this entry register the stock of the raw materials in the accounting system.

Factory Supplies $12.000

Raw materials inventory $12.000

*Some raw materials can be used as intermediate goods..

Finished Goods $12.000

Raw materials inventory $12.000

*Some raw materials can be used as Finished goods..

5 0

3 years ago

What is the difference between Product Markets & Factor Markets?

soldi70 [24.7K]

Answer:

The primary difference between product markets and factor markets is that factors of production like labor and capital are part of factor markets and product markets are markets for goods. ... Anything used in making a finished product—labor, raw materials, capital, and land—make up a factor market.

<h2>Hope it helps you⚛☸. </h2>

Thanks....

3 0

4 years ago