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Ipatiy [6.2K]
3 years ago
8

When quantity demanded in a market equals quantity supplied, then the:

Business
1 answer:
ad-work [718]3 years ago
3 0

market is in equilibrium

When we say that a market is in equilibrium. It means that the quantity demanded of a particular product is equal to the quantity supplied in the market.

At this state, the price in the market is the equilibrium price.

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Pharoah Company has accumulated the following budget data for the year 2020. 1. Sales: 31,410 units, unit selling price $89. 2.
Rama09 [41]

Answer:

<u>Computation of cost of goods sold for 2020</u>

Direct materials(1 pound× $5 )                                  $5

Direct labor(3 hours × $12)                                      $36

manufacturing overhead ($8 × 3 hours)                $24

Total unit cost                                                          $65

<u>Budgeted multiple-step income statement for 2020</u>

Sales ( 31,410 units × $89)                            2,795,490

Less Cost of Sales (31,410 units × $65)      (2,041,650)

Gross Profit                                                      753,840

Less Operating Expenses :

Selling and administrative expenses:           (170,000)

Operating Income                                           583,840

Less Non - Operating Expenses

Interest expense                                             (30,000)

Income before income taxes                         553,840

Income tax (553,840×30%)                            (166,152)

Income After income taxes                            387,688

Explanation:

Cost of Sales = all manufacturing costs

Multi step - Income Statement separates income generated from Primary Activities of the Company (Operating Income) with Income generated from Secondary Activities of the Company (Non-Operating Income)

6 0
3 years ago
many electronics sold in the United states are imported from Taiwan because Taiwan can produce more efficiently than companies i
kondaur [170]
This may be incorrect, but importation?
6 0
3 years ago
Read 2 more answers
Cindy's apartment complex is offering renters insurance through their insurance company. The insurance company charges an annual
Alex787 [66]

Answer:

$836.08 per month

Explanation:

In order to calculate Cindy's new monthly rent, we would simply need to divide the renter's insurance by 12 since there are 12 months in a year. and then add that product to her monthly rent like so...

565.00 / 12 = 47.08

789 + 47.08 = 836.08

Finally, we can see that Cindy's new rent after including the renters insurance would be $836.08 per month

6 0
3 years ago
What is the best advice to keep in mind as you grow your business?
victus00 [196]

Answer:

Be smart and watch out for snakes

7 0
2 years ago
8. Cracked Mirror, a local rock group, contracts to play for your high school prom. A week before the
Artyom0805 [142]

Answer: The amount of money that they were paid for the high school prom. This is because that's the amount that has been sent on the band.

Explanation:

From the question, we are informed that Cracked Mirror, a local rock group, contracts to play for your high school prom and that a week before the

dance, the group cancels its appearance.

We are further told that a teacher finds out that the band has instead booked a

concert elsewhere at the same time as the prom that will pay them $800 more.

Based on the above information, if the band for damages, the appropriate amount would be the amount that they were paid for the high school prom. This is because that's the amount that has been sent on the band.

3 0
3 years ago
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