Answer:
The correct answer is letter "B": Only two points are used to develop the cost function.
Explanation:
In cost accounting, the High-Low Method is used to separate fixed and variable costs using the minimal quantity of information possible. Implementing this approach means taking the highest level of production and the lowest level of production and compare the costs at each point. The Least Squares Method, instead, is a set of complex mathematical calculations considering a wider number of dependent variables.
Answer:
C) The Japanese will sell steel at a lower price abroad than they will charge domestic users.
Explanation:
Since the price elasticity of demand (PED) is higher abroad than in Japan, by exporting at a lower cost, the company is increasing the quantity exported in a greater proportion than it would if it sold the steel locally.
Price elasticity of demand (PED) measures how much does the quantity demanded of a good changes in proportion to a change in its price. For example, if the price increases by 10% but the demand only decreases by 5%, the PED is inelastic (= 5% / 10% = 0.5).
When
- PED < 1, it is inelastic
- PED > 1, it is elastic
- PED = 1, it is unitary
Answer:
Find the balance sheet in attached excel file
Explanation:
Please note that the workings is before the final figures placed in respective columns.
Answer: E) Many people who work for manufacturing plants live in areas in which the manufacturing plant is the only source of employment.
Explanation:
The scenario that'll make the labor union accept Richard's suggestion to lower the wages is when many people who work for manufacturing plants live in areas in which the manufacturing plant is the only source of employment.
The reduction in wages by Xanadu Industries wouldn't bring about loss.of workers as the manufacturing plant is the only industry in the area. Another way the company can reduce cost is through the reduction in its raw materials cost. If the employees aren't satisfied due to the reduction in wages, they can look for employment at Utopia Industry.
Therefore, the correct option is E.
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