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3 years ago

6

Suppose that Bobo purchases 1 pizza per month when the price is $19 and 3 pizzas per month when the price is $15. What is the pr

ice elasticity of Bobo’s demand curve?

1 answer:

BabaBlast [244]3 years ago

3 0

Bobo's demand curve is elastic hence his purchasing ability is easily influenced by a slight change in the price of the product

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Becoming a manager meams

Lesechka [4]

Answer:

The statement is: True.

Explanation:

Being a manager implies handling groups of people with diverse cultures, experiences, and personalities. To perform a proficient work, executives should have a well-defined method of working but be able to adapt it according to their subordinates and the situation the firm is facing. In some cases, their ego will have to be left behind to reach the company's goals.

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3 years ago

"carrie bought a house five years ago for $150,000. at that time she borrowed $140,000 from her bank. the house is now worth $16

vesna_86 [32]

Answer: PMI will automatically be dropped when the balance reaches $117,000.

Explanation: PMI stands for private mortgage insurance. This is an insurance policy that banks often require lenders to have when they do not have a 20% down payment on a new home.

PMI is automatically dropped with the amount of the mortgage due is reduced to 78% of the original appraised value of the home. In this case, the home was originally purchased for $150,000. 78% x 150,000 = $117,000. When the loan reaches $117,000 the pmi will automatically be dropped.

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3 years ago

The Dougherty Furniture Company manufactures tables. In March, the two production departments had budgeted allocation bases of 4

Bezzdna [24]

Answer:

a. Manufacturing overhead rate - Department 100 = $57,500 / 4,000 hours = $14.375 per machine hours

Manufacturing overhead rate - Department 200 = $62,500/8,000 hours = $7.8125 per machine hours

b. Journal Entries

S/N Account Titles Debit Credit

1 Inventory - Raw material $110,000

Account Payable $110,000

2 Work in process $32,500

Manufacturing overhead $7,500

Inventory - Raw materials $40,000

3 Work in process $52,500

Manufacturing overhead $11,000

Materials control $63,500

4 Manufacturing overhead $17,250

Leasehold payable $16,250

Utilities payable $1,000

5. WIP Control (14,375*800) $11,500

Manufacturing overhead allocation $11,500

c. Particulars Dep 100 Dep 200 Total

Direct materials $32,500 $13,500 $46,000

Direct labour $52,500 $13,500 $106,000

Manufacturing overhead $35,750 $18,750 $54,500

(11,000+7,500+16,250+1,000

+9,000+4,750+3,750+1,250)

Total Cost of Job A $120,750 $85,750 $206,500

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3 years ago

Accounts Receivable Analysis A company reports the following: Sales $1,500,000 Average accounts receivable (net) 100,000 Determi

Fudgin [204]

Answer:

A) The account receivables turnover is 15, and B) the number of days sales in receivables is 24.3 days.

Explanation:

A) FORMULA FOR ACCOUNT RECEIVABLES TURNOVER =

NET SALES / AVERAGE ACCOUNT RECEIVABLES

Given information -

Net sales = $1500,000

Average account receivables = $100,000

Putting the values in formula -

= $1500,000 / $100,000

= 15

B) FORMULA FOR NUMBER OF DAYS SALES IN RECEIVABLES =

365 / ACCOUNT RECEIVABLES TURNOVER

= 365 / 15

= 24.3 DAYS

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3 years ago

Montross Lumber processes wood to be shipped to construction companies. In order to keep its products uniform, Montross conducts

tiny-mole [99]

Answer:

$450

Explanation:

Activity based costing is the process by which a business allocates cost on the basis of the number of times an activity is carried out.

For example if different departments use a photocopier to copy 3,000, 5,000, and 2,000 sheets. The total cost will be allocated based on amount of activity per department.

In this instance

Total number of boards= 36,000

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Percentage that will be inspected= 0.05 * 36,000 = $1,800

It takes one minute to inspect each board, there are 60 minutes in one hour. So 60 boards are inspected in one hour.

Number of inspection hours= 1,800 ÷ 60= 30 hours

Total cost of inspection= Cost per hour * Number of hours

Total cost of inspection= 15 * 30= $450

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3 years ago