Answer: reduce output.
Explanation:
In a competitive market, firms do not have control over the price that they sell their goods in the market but they do have control over their costs. It is recommended to produce/ sell goods at a quantity where Marginal Revenue will equal Marginal cost (MR = MC).
In a Competitive Market, Price is the same as Marginal revenue which means that Marginal revenue here is $25 and the Marginal Cost is $26. At this quantity of output, the Marginal Cost is larger than the Marginal revenue.
Company should therefore reduce output to a quantity where Marginal Cost will equal Marginal revenue.
1. Accounts receivable are found on the balance sheet.
2. Notes payable are found on the balance sheet.
3. Advertising expense is found on income statement
Answer and Explanation:
The computation is shown below
a. The economic order quantity is
= sqrt ((2 × annual demand × ordering cost) ÷ carrying cost)
= sqrt ((2 × 1,215 × $10) ÷ $75)
= 18 units
b) Average number of bags on hand is
= EOQ ÷ 2
= 18 ÷ 2
= 9
c) Orders per year is
= D ÷ EOQ
= 1215 ÷ 18
= 67.5
= 68
d) Total cost = Total carrying cost+ Total ordering cost
= (Q ÷ 2)H +(D ÷ Q)S
= (18 ÷ 2)75 + (1215 ÷ 18) × 10
= 675 + 675
= $1350
Answer:
a. a grant will be secured to help fund the project.
Explanation:
In project management, a project manager can be defined as an individual or organization that temporarily undertakes a project in order to create a unique result, product, and service. Project managers strives very hard so that they can achieve their aims, goals and objectives in the most cost-effective, efficient and best manner through the use of unique set of interrelated tools, skills and tasks.
An assumption for a construction project could be, a grant will be secured to help fund the project.
Project managers sometimes embark on the execution of projects without having enough fund to finish it successfully. There assumptions are usually that once they have commenced the process, a grant can be secured from creditors, investors or financial institutions to help fund the remaining part of the project. However, since it is an assumption, they're not guaranteed that the grant will be given to them; therefore, this can result to the stalling of projects sometimes.
By virtue of standards, materials to be used to construct the building, the size of the building that is to be constructed and the regulations and codes required for the building should never be assumed by project managers.