A company can be socially responsible by having employees volunteer their time. True or False?

Simpleton, Inc. budgeted a material cost of $10 per lb. They ended up purchasing 2,300 lbs at $16 per lb. and using 1,800 lbs fo

Vesna [10]

Answer:

Direct material price variance= $13,800 unfavorable

Explanation:

Giving the following information:

Simpleton, Inc. budgeted a material cost of $10 per lb.

Actual:

2,300 lbs at $16 per lb.

To calculate the direct material price variance, we need to use the following formula:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (10 - 16)*2,300

Direct material price variance= $13,800 unfavorable

4 0

3 years ago

g The perfectly competitive firm's supply curve: Group of answer choices coincides with its perfectly elastic demand curve. is t

natulia [17]

Answer:

is the firm's marginal cost curve above the minimum point on the AVC curve.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

Generally, a perfectly competitive market is characterized by the following features;

1. Perfect information.

2. No barriers, it is typically free.

3. Equilibrium price and quantity.

4. Many buyers and sellers.

5. Homogeneous products.

Examples of a perfectly competitive market are the Agricultural sector, e-commerce and the foreign exchange market.

In Economics, there are primarily two (2) factors which affect the availability and the price at which goods and services are sold or provided, these are demand and supply.

The law of supply states that the higher the price of goods and services, the lower the supply.

An aggregate supply curve gives the relationship between the aggregate price level for goods or services and the quantity of aggregate output supplied in an economy at a specific period of time.

Aggregate supply (AS) refers to the total quantity of output (goods and services) that firms are willing to produce and sell at a given price in an economy at a particular period of time.

Hence, a perfectly competitive firm's supply curve is the firm's marginal cost (MC) curve above the minimum point on the average variable cost (AVC) curve.

8 0

3 years ago

Management anticipates fixed costs of $72,500 and variable costs equal to 40% of sales. What will pretax income equal if sales a

satela [25.4K]

Answer:

Pretax income= $122,500

Explanation:

Giving the following information:

Fixed costs= $72,500

Variable costs equal to 40% of sales.

Sales= $325,000

To calculate the pretax income, we need to use the following formula:

Pretax income= contribution margin - fixed costs

Pretax income= 325,000*(1-0.4) - 72,500

Pretax income= $122,500

8 0

3 years ago

1. Select the most likely consequence of making credit card payments late.

ruslelena [56]

1. Guess that the only correct consequence of making credit card payments late is: fees and paying the default interest rate on the balance. There's a non-fee period which is defined by a bank.

2. The most obvious option is: Zach and Zach's parents credit may be damaged. He can forget to make the credit payments in time and the bank can make e decision to less the credit amount.

3. As far as I remember, if interest rates rise, the prices of bonds will decrease. It's the cost of borrowing, so that's why I chose that option.

4. I'd choose this one. C. About $6.67. First let's discover your daily periodic rate. We need to do this: 16/365 this will be approximately 0.04%.
And now we can count monthly charge. 500*0.0004*30 = 6 (approximately)

5 0

3 years ago

Read 2 more answers

A company is considering building a new factory, which department is most likely going to be in charge of evaluating options to

mamaluj [8]

Answer:

Explanation:

Sunk, or past, costs are monies already spent or money that is already contracted to be spent. A decision on whether or not a new endeavor is started will have no effect on this cash flow, so sunk costs cannot be relevant.

For example, money that has been spent on market research for a new product or planning a new factory is already spent and isn’t coming back to the company, irrespective of whether the product is approved for manufacture or the factory is built.

Committed costs are costs that would be incurred in the future but they cannot be avoided because the company has already committed to them through another decision which has been made.

5 0

3 years ago