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3 years ago

The opportunity cost of doing or getting something is best and fully defined as:

1 answer:

6 0

Answer: The correct answer is C. The value of the best alternative that is given up in order to do or get something.

Explanation: Opportunity cost literally means alternative thing forgone - meaning what is given up to get something <em>(sacrifice</em>). It is a concept used by economists to allocate limited resources for production, consumption, distribution and exchange of goods and services. Production of goods or services entails the creation of value. In other words, it gives a more understanding on how limited resources are allocated in order to satisfy the human insatiable desires.

For example, a student may be constrained with limited amount of pocket money, say $100 and the student wants to buy textbooks that cost $10 each or go for different outings going for $20 each. In this scenario, the student has different options: a) buy 10 textbooks and 0 outing b) buy 8 textbooks and a outing c) 6 textbooks and two outings d) 4 textbooks and three outings e) 0 textbooks and five outings. For the student to have any more of the other, he has to give up the other unit. What is given up is called opportunity cost.

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Gary’s Company produces high quality shirts. Shirts must be well made because of frequent washings. Currently, Gary sells 10,000

grin007 [14]

Answer:

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

Explanation:

Giving the following information:

Currently, Gary sells 10,000 shirts at $60 each with the capacity to produce 11,000 shirts. Gary is considering a special order for 1,800 shirts for $40.

Gary has the following costs:

Unit Costs $200,000

Facility Costs $140,000

If Gary accepts the special order, they will incur an additional $2 per shirt in foreign currency transaction costs.

Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

variable cost per unit= (200,000/10,000) + 2= $22

Effect on income= (40 - 22)*1,800= $32,400

We have to take into account the loss of not selling 1,000 units.

Effect on income= 1,000*40= $40,000

Total effect= 32,400 - 40,000= $7,600

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

6 0

3 years ago

Banks pay interest to encourage people to open each of the following types of accounts EXCEPT:A. credit cardB. regular savingsC.

Rama09 [41]

Answer:

A. credit card

Explanation:

A credit card is a card issued by a bank to its customer which allows the credit card holder to borrow money from the bank.

A maximum amount that can be borrowed through the credit card is known as the credit limit of the card.

The bank provided certain interest free period to the credit card holder to return the amount borrowed and charges an interest on the amount due.

3 0

3 years ago

Read 2 more answers

Normand Corporation uses the FIFO method in its process costing system. Data concerning the first processing department for the

QveST [7]

Answer:

total equivalent units for materials = 6,310

Explanation:

700 units in beginning work in process:

materials: 70% complete, $8,700, completed 490 equivalent units, not completed 210 units
conversion: 10% complete, $3,700

units started in to production 6,400

units transferred out 5,600

ending work in process 1,500

materials: 80% complete, completed 1,200 equivalent units for materials
conversion: 25% complete

materials added $92,200

conversion costs added $269,600

equivalent units for materials:

beginning WIP equivalent units to be completed = 210
units started and completed = 5,600 - 700 = 4,900
ending WIP = 1,200 equivalent units
total equivalent units for materials = 6,310

4 0

3 years ago

During Belinda's bankruptcy proceedings, the bankruptcy judge distributes her estate to creditors, but denies her a discharge, s

mixas84 [53]

Answer: a. She fraudulently concealed or destroyed financial records during the course of the bankruptcy.

Explanation:

Fraudulently concealing or destroying financial records during a bankruptcy is one of the chief reasons why a discharge could be DENIED. It proves dishonesty and a lack of remorse.

It is always best to be upfront with the court to avoid getting into such issues.

Other reasons include violating court orders and giving false statements.

8 0

3 years ago

You have ordered a black sweater from an Internet source but received a pink one instead. The website states that there are no r

kirza4 [7]

<h2>The contract is invalid.</h2>

Explanation:

An online though it has some cons like "cannot touch and feel, color may slightly vary from the original to the picture given, quality cannot be measured, etc".
But the scenario given here is the expected / ordered color is different from the received one and it is wrong that the website is not accepting.
This website is not user-friendly and the fault from the website side is not accepted which once again re-insist the unfriendliness.
Any website should allow the user to do easy exchange and returns because of various reason said in point no.1.
If the website continues with same invalid contract, then it will lose its name and lose the customer too.

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3 years ago