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tino4ka555 [31]
3 years ago
11

Assume that due to unfavorable conditions in a prime honey-producing area, the price of honey increases by 50 percent. the quant

ity consumed of herbal tea declines immediately by 25 percent. everything else held constant, the:
Business
1 answer:
vodomira [7]3 years ago
8 0

The answer to this question that would complete the statement is “<span>cross-price elasticity of demand for herbal tea and honey is negative, and therefore the two goods are complements.</span>”

<span>This means that a change in price of one product, directly affect the demand of the other product in an inversely fashion. In this case, as the price of honey increases, the demand for herbal tea decreases.</span>

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MC Qu. 169 A manufacturer reports the following costs to produce... A manufacturer reports the following costs to produce 23,000
Firdavs [7]

Answer:

Unitary product cost= $54

Explanation:

Giving the following information:

Production= 23,000 units

Direct materials= $23 per unit

Direct labor= $19 per unit

Variable overhead= $276,000

<u>Under the variable costing method, the unit product cost is calculated using direct material, direct labor, and variable overhead.</u>

First, we need to calculate the unitary variable overhead.

Unitary overhead= 276,000/23,000= $12 per unit

Unitary product cost= 23 + 19 + 12= $54

5 0
3 years ago
Flexible budgets and variance analysis are very useful tools for managers, but are sometimes difficult to understand. Find an on
Anettt [7]

Answer:

Flexible budgets: These type of budgets are assessments, which may vary with the capacity or production for a given period.

Say for model there might be two type of budgets which bend with two or three situations of fabrication volume or production. The situations might be:

1. Budget when fabrication is at highest volume, the revenue and expenditures at the utmost output.

2. Budget when there is prime capacity, the revenue and expenditures valued at the optimal application of resources to produce optimal productivity or satisfactory output.

3. Budget when there is low capacity or demand is nearly nil, the revenues and expenditures that will be valued.

This flexible budget guides administration to appropriately plan their resources and flex with the capacity whenever it’s required subject the change in situations.

Variance Analysis: The investigation of deviance of several cost restriction with the usual set in at the start of the year results in Variance Analysis. There are several types of modifications which needs analysis and these will be diverse with the business type. The below are few common instances of modifications.

Sales capacity variances, sales combination variances, Material value variances, labor proportion variances, machine dependent price variances, overheads expenditure variances, Material procedure, Material Amount, Material replacement, labor and engine time variances etc.

These will help the administration to comprehend practically how precise the values set in for a given period of time.

5 0
3 years ago
Assuming a 360-day year, when a $20,000, 90-day, 5% interest-bearing note payable matures, total payment will be
solong [7]

Answer:

total payment will be $21,000.

Explanation:

The Payment at maturity will include, the Principle amount (amount borrowed) and the Interest that accrued over the period of the note payable.

<u>Total Payment Calculation :</u>

Principle amount            = $20,000

Interest ($20,000 × 5%) =    $1,000

Total Payment                =  $21,000

7 0
3 years ago
Suppose that you are a buyer. your buyer value is $30 and you buy a book for $40. what is your gain or loss?
Serjik [45]
The buyer value is a concept that is more important to the customers. This refers to the amount that the buyers are expecting out of the purchase of some goods. If I bought a book at a price of $40 then, I loss $10 in the process because as a buyer I expect to pay only $30. 
4 0
3 years ago
Timothy McGreggor, Attorney, P.C., began the year with total assets of $129,000, liabilities of $77,000, and stockholders’ equit
Ahat [919]

Answer:

Ending stockholders' equity $ 68.000

Explanation:

The net income for the year is Revenue - Expenses

so $ 113,000 - $34,000     =   Net Income $ 79,000

Stockholders Equity at end of year

Opening stockholders' equity                 $  52,000

Add: Net income for the year                  $  79,000

Less: Dividends Paid                                <u>$ (63,000)</u>

Ending stockholders' equity                    $  68,000

7 0
3 years ago
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