Answer:
The answer is: The excise tax on cola beverages is $2 per case.
Explanation:
Excise taxes are taxes levied on certain goods or services.
In this case the price of cola beverages is $4 per case, since excise taxes are included in the price of the product, then the excise tax on cola beverages = price paid by consumers - price received by producers = $4 - $2 = $2
Answer:
Variable manufacturing overhead rate variance = 80,000 favorable
Explanation:
Given:
Overhead rate variance = $1.70 per hour
Total machine hour = 160,000 hour
Actual overhead costs = $192,000
Find:
Variable manufacturing overhead rate variance
Computation:
Variable manufacturing overhead rate variance = [Standard overhead rate - Actual overhead rate]Actual hour
Variable manufacturing overhead rate variance =[1.7 - (192,000 / 160,000)]160,000
Variable manufacturing overhead rate variance = [1.7 - (1.2)]160,000
Variable manufacturing overhead rate variance = [0.5]160,000
Variable manufacturing overhead rate variance = 80,000 favorable
Answer:
<u>Marketing mix</u>
Explanation:
Marketing mix refers to that blend of marketing factors and aspects so as to accomplish marketing goals, which is inducing customers to purchase the products coupled with customer satisfaction.
The four essential P's of marketing mix i.e essential marketing factors are, Product, price, place and promotion.
Product refers to a bundle of utilities, price being the consideration charged for the product, place refers to the markets where product is made available and promotion refers to modes of promotion such as sales promotion, advertising and publicity and other forms.
In the given case, the coffee maker serves a new target market (place), with changed product, packaging design and coffee itself (product), employing advertising price discounts and distributing new product samples at coffee shops (price and promotion).
Thus, in short , the manufacturer changed the marketing mix for his product i.e coffee.
Answer:
Private individuals.
Explanation:
In a free enterprise system, the decisions about what and how many goods and services will be produced are made by private individuals.
Free enterprise system is an economic system in which the ownership and control of means of production (resources) and distribution of goods and services are determined by private individuals. Here, private individuals decide what, how and for whom to produce while the government does not interfere in economic activities. The allocation of resources and price determination are influenced by the forces of demand and supply called price mechanism, which Adam Smith referred to as 'Invisible Hand'.
Free enterprise system is also known as Capitalist economy, Capitalism and Free market system. Countries that practice more of free enterprise system are Singapore, New Zealand, Hong Kong, Australia and Switzerland.
