All categories

3 years ago

What can a producer gain by specializing?

Business

2 answers:

IgorC [24]3 years ago

6 0

Answer:

Specialization is when a country or producer limits the types of goods they make to specialize in one item and make so much of it that they can send it to other countries. For example, USA specializes in corn becuase we can easily make it so we send it to other countries all over the world.

puteri [66]3 years ago

6 0

Answer:

c. Absolute advantage

Hope this helps! :)

You might be interested in

Work environment includes physical and social aspects of work. true or false

Yuki888 [10]

The answer is true.

Good Luck! Please make brainliest thx :3

8 0

3 years ago

Read 2 more answers

Explain why employers need to satisfy the principles of 'clarity' and 'challenge' when setting goals..

Elenna [48]

Goals need to have clarity so that there is no misunderstanding of what is expected. There should be clear measurable outcomes that help employees stay o track.

Goals should be challenging enough to make employees work but should not be unreasonable. This helps employees feel important and that they are not just completing menial tasks.

3 0

3 years ago

Penn Company uses a periodic inventory system. At the end of the annual accounting period, December 31 of the current year, the

PSYCHO15rus [73]

Answer:

Total unit sold = Opening balance + Purhase in march + Purchase in August - Closing balance

Total unit sold = 2000 + 5000 +3000 - 4000

Total unit sold = 6000 units

1. FIFO method:

So total cost of goods sold is (2000*$5) + (4000*$6)= $34,000

Ending inventory value is (1000*$6) + (3000*$8) = $30,000

2. LIFO method:

So total value of goods sold is (3000*$8) + (3000*$6) = $42,000

Ending inventory value is (2000*6) + (2000*$5) = $22,000

3. Average cost of inventory:

Opening inventory (2000* $5) + Purchase on Mar.21 (5000*$6) + Purchase on August 1 (3000*$8) = $64,000

Total units = 2000 + 5000 + 3000

Total units = 10,000

Average cost is $64,000/10,000 (units) = $6.40 per unit

So, Cost of goods sold is 6000*$6.40 = $38,400

Ending Inventory value is 4000*$6.40 = $25,600

8 0

3 years ago

The primary concern of any _________ should be to ensure the text is legiable

stiks02 [169]

Answer:

Explanation:

4 0

3 years ago

Problem 11-21 Item X is a standard item stocked in a company's inventory of component parts. Each year the firm, on a random bas

Papessa [141]

Answer:

a) the order size of item X should be 137 units

b) the annual ordering cost for item X is $ 272.99

c) the annual holding cost for item X is $ 274

Explanation:

Given the data in the question;

a) Whenever item X is ordered, what should the order size be?

The Economic Order quality EOQ is the optimum quantity that should normally be ordered, its is expressed as;

$Q_{opt$ = √( 2DS/H)

where D is the annual demand, S is set up cost and H is the holding cost.

given that; the annual demand is 1700 units and the holding cost is $4 per unit per year, cost of placing order is $22.

So, we use the Economic Order quality EOQ;

$Q_{opt$ = √( 2DS/H)

we substitute

$Q_{opt$ = √( (2 × 1700 × 22 ) / 4)

$Q_{opt$ = √( 74800 / 4 )

$Q_{opt$ = √18700

$Q_{opt$ = 136.75 ≈ 137 units

Therefore, the order size of item X should be 137 units

b) What is the annual cost for ordering item X.

Annual ordering cost = actual number of placed orders × cost of each order

Annual ordering cost = D/Q × s

we substitute

Annual ordering cost = (1700 / 137) × 22

Annual ordering cost = 12.408759 × 22

Annual ordering cost = 272.99

Therefore, the annual ordering cost for item X is $ 272.99

c) What is the annual cost for storing item X.

Holding cost = average inventory × cost of storage per unit

Holding cost = Q/2 × H

we substitute

Holding cost = 137/2 × 4

Holding cost = 68.5 × 4

Holding cost = $ 274

Therefore, the annual holding cost for item X is $ 274

5 0

3 years ago