Answer: product line
<span>A group of products which are closely related, under a single brand which satisfies same needs, are used together and are sold to the same group of customers, distributed through the same company is called product line. </span>
If the price of good X rises and the demand for good X is inelastic, then the percentage fall in quantity demanded is greater than the percentage change in price, and total revenue falls.
Demand elasticity, often known as the elasticity of demand, gauges how consumers react to changes in price or income. Due to the fact that the price of a good or service is the most typical economic component used to measure it, it is frequently referred to as price elasticity of demand.
The whole amount of money a seller can make by providing goods or services to customers is known as total revenue. The formula for this is P
Q, or the purchase price times the quantity of the products sold.
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Answer:
Dr Accounts payable 1850
Cr Merchandise inventory $37
Cr Cash $1813
Explanation:
Preparation of the journal entry to record the payment on July 12 Using the gross method,
JOURNAL ENTRY
Jul-12
Dr Accounts payable ($2300-450) 1850
Cr Merchandise inventory ($1850*2%) $37
Cr Cash $1813
($1850-$37)
(Being entry recorded for payment to supplier)
Answer:
Audience; to maximize the reach and success of the campaign Strategy;
Explanation:
The element of planning is being identified by this process is Audience
The reason why audience is important in the process is because it has the purposeful intention of maximizing the reach and success of the campaign Strategy.
The cosmetic company is planning to launch a range of low cost cosmetics and this will appeal to college students because of their low income level. The success of the campaign therefore depends on the number of college students they are able to reach.
Answer:
PEZ Candy Inc.
1. PEZ Candy Inc. would be more likely to use process costing for the manufacture of its PEZ candies.
The reason is that the manufacturing of candies involves continuous processing of materials that results into candies. The processes are not customizable for separate orders.
2. PEZ Candy Inc. would incur these types of costs in the manufacture of its PEZ candies:
a. Direct material = sugar
b. Direct labor = wages of factory workers
c. Manufacturing overhead = utilities expenses
i. indirect materials = cleaning supplies
ii. indirect labor = factory supervisor's salary
iii. other manufacturing overhead = depreciation expense of factory equipment
3. PEZ Candy Inc. would be more likely to use job costing to calculate the cost of one particular birthday party hosted at the PEZ Visitor Center. The reason is that it is a specific event. It does not involve a continuous process.
Explanation:
a) Data and Calculations:
Materials for PEZ candy include:
Direct materials:
Sugar (95%)
Fruit flavoring
Coloring
Corn syrup
Product = PEZ candies
Services: customized birthday parties
