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Callaway golf company conducted a one-time survey of golfers and asked them about their attitudes, preferences, and intentions regarding buying custom clubs. this is an example of a(n) "cross-sectional study".
<h3>What is cross-sectional study?</h3>
A cross-sectional study examines data from a group of people at one point in time. Participants throughout this type of research are chosen based on certain variables of interest.
Some key features of cross-sectional study are-
- Cross-sectional studies are common in psychology, but they are also employed in many other fields, such as social science and innovation.
- Cross-sectional studies is observational in nature but are classified as descriptive research rather than causal or relational research, which means they cannot be used to pinpoint the source about something, such as a sickness.
- Researchers collect information from a population, yet they do not change variables.
- This strategy is frequently used to draw conclusions about potential links or to collect early data to enable additional research and experimentation.
To know more about the cross-sectional study, here
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AFC mean average fixed costs. This is equal to total fixed costs divided by the amount of output. If the output is equal to 1000, then the AFC is
AFC = $250.00 ÷ 1,000
AFC = $ 0.25
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Answer:
Decreases by 50 percent
Explanation:
The law of supply asserts that other things remaining constant, the quantity of goods and services supplied increases as price rises. Therefore, the price and quantity supplied are directly related. Should the price fall, the quantity supplied will also decrease. Producers will prefer to supply more when the price is high to make more revenue.
The supply curve is upward sloping indicating how quantity supplied changes at different price levels. In the case, the price has decreased from $4 to $2, which represents a 50 percent drop. The quantities supplied will decrease as per the law of supply. A 50 percent decrease may result in a similar decrease in quantity supplied as the supply curve is upward sloping.
Answer:
The Journal entries are as follows:
(i) Manufacturing Overheads Account Dr. $900
To Accumulated Depreciation $300
To Cash account $100
To Utilities payable $500
(To record the expenses incurred)
(ii) Work in process inventory A/c ($1.50 × 450) Dr. $675
To Manufacturing Overhead $675
(To record the allocation of overhead at the predetermined rate of $1.50 per machine hour)
