Answer:
The correct answer is letter "A": larger; demanded.
Explanation:
Elasticity is the characteristic of goods and services by which their quantity demanded changes in proportion to the change in prices. <em>Elasticity is calculated by dividing the percentage change in the quantity demanded by the percentage change in price. </em>
<u><em>If the result is equal to or greater than one (1), the demand for the product is elastic, meaning a minimum change in price causes a greater change in quantity demanded</em></u>. If the result is lower than 1, the demand is inelastic which implies that changes in the price of a product almost do not change the quantity demanded.
The Piagetian process that was at work here in the given excerpt is accomodation.
<u>Explanation:</u>
The three basic components of the Piaget's cognitive theory are namely
1. Schemas - these are the building blocks of knowledge.
2. Adaptation process - this includes equilibrium, assimilation and accomodation.
3. Stages of cognitive development - former operational, concrete operational, preoperational and sensorimotor.
<u>Accomodation:</u>
The accommodation stage is when the existing knowledge (schema) doesn't work and it requires a change or an updation to deal with the upcoming situation.
Here, Dave makes an accomodation since his old school of thoughts did not fit in his present scenario.
Answer:
COGS 3807 debit
FG 7896 debit
WIP 2397 debit
Factory Overhead 14,100 credit
--to record the underapplication of overhead--
Explanation:
overhead rate:
$515,000 overhead / 515,000 labor cost = $1
each labor cost generates a dollar of overhead.
221,400 x 1 = 221,400 overhead in COGS
459,200 x 1 = 459,200 overhead in Finished Goods
139,400 x 1 = 139,400 overhead in WIP inventory
Total applied 820,000
Actual 805,900
Underapplied 14,100
Now we weight each concept and determiante the portion underapplocated in each concept
Answer:
$148 F
Explanation:
Calculation to determine what The spending variance for catering supplies in December would be closest to:
Flexible budget $3,698
[$550 + ($104 * 7) + ($20 * 121)]
Less Actual results $3,550
Spending variance $148 F
Therefore The spending variance for catering supplies in December would be closest to: 148 F
Answer:
<u>Cash flows from operating activities 271,000</u>
Explanation:
net income 250,000
depreciation +40,000
amortization +9,000
Net Income adjusted 299,000
↑AR -4000
↑Inventories -12,000
↓Prepaid Expenses 2000
↓AP -14,000
Changes in working capital -28,000
Cash flows from operating activities <em>271,000</em>