The answer to this question is Elastic
An elastic product is the type of product which demand will be influenced by movement in prices. For product like cloud computing, the product could be considered more durable because it willl always stay needed and will not go rotten, so the movement in prices shouldn't necessarily affect them that much.
Answer:
Instructions are below.
Explanation:
Giving the following information:
Sales:
April 45,000
May 38,000
June 42,000
Each unit requires one pound of raw material. Saphire's policy is to have 30% of the following month's production needs for materials in inventory.
A) Budgeted production= sales + desired ending inventory - beginning inventory
Budgeted production:
Sales=38,000
Ending inventory= 42,000*0.3= 12,600
Beginning inventory= 38,000*0.3= (11,400)
Total= 39,200
B) Desired beginning inventory= budgeted sales*30%
Beginning inventory= 42,000*0.3= 12,600
Answer:
A) FV= 6414.27
B) FV=2000*(1.09^15)= 7284.97
Explanation:
Giving the following information:
A) Present value= $2,000
Compounded annually for 20 years at 6 percent.
n= 20
i=0.06
B) Present value= $2,000
Compounded annually for 15 years at 9 percent.
n=15
i= 0.09
To calculate the Final Value we need to use the following formula:
FV= Present value*(1+interest rate)^n
A) FV= 2000*(1.06^20)
FV= 6414.27
B) FV=2000*(1.09^15)= 7284.97
<h2>A business action that has been widely adopted within an industry or occupation is known as
Standard Business practice</h2>
Explanation:
Standard business practice tells you how to operate and manage your business.
The operation includes:
Goals, objectives: Mentioning about the goal and objective of the organization and creating process to achieve those.
Sales: Sales are the most important aspect which brings revenue to any kind of industry starting from education industry to MNC industry. Sales can bring business and one of the crucial department for success of the organization.
Back office work: Which needs to work at the background to monitor, to track, develop the operations or process
