Answer:
Fall; lowers; falls; decrease; lower; increases; fall; away from orange juice and toward tomato juice; falls.
Explanation:
Ketchup is a complement and condiment in hot dogs. An increase in the price of hot dogs will cause its quantity demanded to fall. This will cause the demand for ketchup to decrease as well. The demand curve for ketchup will move to the left. This will cause the equilibrium quantity to fall. This will further cause a reduction in the demand for tomatoes by ketchup producers.
A decrease in demand will cause the equilibrium price of tomatoes to fall. A reduction in the price of tomatoes will lower the cost of producing tomato juice. The firms will be able to supply more at the same cost. This will cause the supply to increase. As the supply curve moves to the right, the equilibrium price of tomato juice will fall.
Orange juice is a substitute for tomato juice. The consumers will prefer the cheaper substitute. As a result, demand will move away from orange juice towards tomato juice. This will cause the demand for orange juice to fall.
The correct answer is the agent and principal will be jointly and severally liable on the contract.
In general, an agent is not accountable for contracts made; the principal is. However, the agent will be held culpable if he is not or only partially revealed, if the agent lacks or exceeds authorization, or if the agent entered into the transaction in a personal role.
When an agent works on behalf of the principle in interactions with a third party, a contractual relationship is formed between the main and the third party, and the agent is not personally accountable.
Therefore, the correct option is the agent and principal will be jointly and severally liable on the contract.
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Answer:
A Overhead: 180,634
B Production Cost: 214,410
C Period Cost: 71,091
Explanation:
<u>Manufacturing overhead</u>
Factory utilities 16,942
Depreciation on factory equipment 13,387
Property taxes on factory building 3,252
Indirect factory labor 49,656
Repairs to office equipment 2,179
Indirect materials 84,468
Factory repairs 2,465
Factory manager's salary 8,285
Total: 180.634
<u>Product Cost</u>
Direct labor 71, 743
Direct materials used 142,667
Total: 214,410
<u>Period Cost </u>
Sales salaries 47, 310
Depreciation on delivery trucks 4,546
Advertising 15, 712
Office supplies used 3,523
Total: 71,091
<span>A company can have a product that they want a single customer to be able to use and profit from, they may sell that product to that customer at a lower price, allowing them to purchase more, and blocking out competitors with higher pricing.</span>
Answer: $3.10
Explanation:
The actual price per pound of direct materials purchased in June will be calculated as follows:
Let the actual price be represented by x.
Material price variance is calculated as:
= (standard price-actual price) × actual quantity
-2000 = (3 × 20000) - 20000x
-2000 = 60000 - 20000x
20000x = 60000 + 2000
20000x = 62000
x = 62000/20000
x = 3.1
Therefore, the actual price per pound of direct material bought in June is $3.10
