General Mills sold three
sizes of cereal cheerios at $2.99, $3.99, and $4.49 each. Selling
tactic used by the company is psychology pricing. General Mills used this
technique to
encourage customers to respond on emotional levels rather than logical ones.
<span>Setting
the price of the cereal at $2.99 is proven to attract more consumers than setting
it at $3.00, even though the difference is only $.01. Consumers are said to put
more attention on the first number on a price tag than the last. </span>
Answer and Explanation:
The computation is given below:
a)
Direct labor rate variance = (Actual rate - Standard rate) × Actual hours
= ($22.50 - $23) × 8,450 hours
= -$4,225.00 Favorable
Direct labor time variance = (Actual hours - Standard hours) × Standard rate
= (8,450 hours - 8,400 hours) × $23
= $ 1,150.00 Unfavorable
Total direct labor cost variance is
= Direct labor rate variance + Direct labor time variance
= $4,225 Favorable + $1,150 Unfavorable
= -$3,075.00 Favorable
b. In the case when the employees are not much experienced or they are poorly trained so the less experience cause to less performance due to which the actual time needed should be more than the standard one
Answer:
Perfect competition is a market structure in which a large number of firms produce the same product.
Explanation:
Items at a grocery store are an example of perfect competition. onsumers have many options at multiple price points.
Answer:
$399,000
Explanation:
We need to understand that deductible is a portion of a loss that is covered in the policy but must be paid by the insurance purchaser, these terms stated in the insurance contract.
Here, the actual value of the business personal property at the time of this report was $400,000. (Only the actual value is covered)
Deductible is = $1,000
Acme's insurer will pay an amount of $399,000 ($400,000 - $1,000) for the described loss.
Answer:
to the left
Explanation:
<em>When the construction of new homes decreases, the demand curve for complimentary goods used to build homes </em><em>shift to the left</em><em> as a result of a decrease in their demands.</em>
<u>The demand curve is a graph that shows the demand for a product in relation to the price of the product at a specific point in time. When the demand for a product increases, the curve shifts to the right, and when it decreases, the curve shifts to the left.</u>
Complementary goods are goods that are required in conjunction with other goods or services. For example, timbers are required for buildings, hence, they timbers serve as complementary goods to buildings.
When the construction of new homes decreases, it means there will be less demands for timbers and as such, the demand curve will shift to the left.
