<span>What is the fallacy of the "product cost concept"? The fallacy of the "product cost </span>concept" refers to the excess capacity and in this situation the only cost that matters is the material cost. Product costs refers to the costs of making the product, materials to make the product are important and the main part of product cost.
Answer:
5%
Explanation:
a) What was the growth rate in sales between years 1 and 2
Growth rate measures the increase in the level of sales over a period of time
Growth rate from year 1 to 2 = (increase in sales from year 1 to 2 / sales in year 1) x 100
increase in sales from year 1 to 2 = 236.25 - 225 = 11.25
(11.25 / 225) x 100 = 5%
Answer:
January February March
production <u> 2,500 3,000 2,700 </u>
variable 44,875 53,850 48,465
fixed <u> 14,500 14,500 14,500 </u>
total 59,375 68,350 62,965
Explanation:
indirect materials 0.5 (2 dollar per pound x .25 pound per unit)
indirect labor 16.5 ( 1 hour x 16.50 rate)
maintenance 0.75
utilities 0.2
total variable 17.95
supervisor 1000
maintenance 9000
insurance 3000
depreciation 1500
total fixed 14500
the fixed amount will remain the same and we will solve for the variable on each month considering each units generates 17.95 dollar of variable overhead
Answer:
a. Government - highly Inelastic
b. producers - Somewhat elastic
c. consumers and producers - Highly elastic
d. consumers - Highly elastic
Explanation:
Inelastic demand is that which does not changes with the change in the price of any product.
Government oriented demand remains constant irrespective of pricing and hence it is highly inelastic while in case of producers and consumers, the demand may vary depending on the substitute availability in the market
Answer:
The correct answer is letter "D": sample.
Explanation:
In statistics, a sample is a subgroup of data that belongs to a data population. It must be composed of a certain number of subjects that represent properly the total of the population. Samples are taken when the population of a study is too large that makes research impossible to be conducted. The sample must be big enough to represent the total of subjects and should be selected randomly.