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3 years ago

Suppose the world price of steel falls substantially. The demand for labor among steel-producing firms in Pennsylvania will

Business

1 answer:

balandron [24]3 years ago

7 0

Answer: decrease

Explanation:

Demand is the amount of product or service that a economic entity wants to buy at a certain price at a particular time period.

When the world price of steel falls substantially, the demand for labor among steel-producing firms in Pennsylvania will reduce. This is because as price reduces, producers will want to supply less steel thereby demand for labor will reduce.

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Department F had 4,000 units in Work in Process that were 40% completed at the beginning of the period at a cost of $13,400. Of

Rufina [12.5K]

Answer:

a.$3.35

Explanation:

The first step in determining conversion cost per unit is to calculate the Total Equivalent units of production for Conversion Costs.

Conversion Costs

Units Completed and transferred (15,000 × 100%) = 15,000

Units in Ending Work In Process (3,000 × 75%) = 2,250

Total Equivalent units of production = 17,250

The next step is to determine the total conversion cost of production incurred during the period.

Conversion Costs

Conversion Costs in Beginning Work In Process $4,800

Conversion Costs added during the period ($33,000 + $20,000) $53,000

Total Conversion Costs $57,800

Finally calculate the conversion cost per unit

Conversion cost per unit = Total Conversion Costs / Total Equivalent units of production

= $57,800 / 17,250

= $3.35 (to the nearest cent)

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4 years ago

When developing the advertising program, firms must choose between the various forms of media available. Each of the eight commo

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Answer:

direct mail

Explanation:

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4 years ago

Hemingway Corporation has 100,000 shares of common stock issued and outstanding. At the meeting of the board of directors on Dec

DaniilM [7]

Answer:

See the journal entry below

Explanation:

Retained earnings A/c Dr $500,000

Dividends payable A/c Cr $500,000

Here, cash dividend is being declared by the board on 100,000 shares hence the account of retained earnings is debited and account of dividends payable is credited.

NB.

Amount = Share × Price per share

Given that;

Share = 100,000

Price per share = $5

Amount

= 100,000 × $5

= $500,000

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3 years ago

Alyssa owns and operates a store in a country experiencing a high rate of inflation. In order to prevent the value of money in h

artcher [175]

Answer:

It is an example of the shoes leather costs.

Explanation:

Shoe leather cost is the cost which involve the time as well as the efforts which people spend on trying to counter-act the inflation effects like holding less amount of cash and make additional trips to the bank.

In this scenario, Alyssa in order to protect herself from the effect of the inflation, she sends employee to bank for depositing the money into the bank four times a day. Therefore, it is an example of Shoe leather cost

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4 years ago

The monopoly demand curve is _____________, while the perfectly competitive firm’s demand curve is _______________. This is beca

Amiraneli [1.4K]

Answer:

Downward sloping; horizontal line; demand; large number of competitors

Explanation:

A monopoly is a market structure where there is only a single firm in the market. This firm is a price maker. It can charge whatever price it wants, but the consumers will demand more at a lower price.

That is why the demand curve of a monopoly is downward sloping and the same as the market demand curve.

A perfectly competitive market refers to the market structure where there is a large number of buyers and sellers. These firms are price takers. They face a horizontal line demand curve. This is because of a large number of competitors producing homogenous products. So if a firm raises its prices the consumers will move to the firm at a lower price.

The market demand curve though is downward sloping.

8 0

4 years ago