3.what does it mean when a economist says that a consumer has demand for a good or service?

Richards Corporation uses the FIFO method of process costing. The following information is available for October in its Fabricat

densk [106]

Answer:

Equivalent units of conversion cost = 317,000 units

Explanation:

The equivalent unit is the notional whole units which represent incomplete work and is used to apportion cost between cost between work in progress and completed units

Item units Equivalent units

Opening WIP 80,000 (80,000× 80%) = 64,000

Fully worked 250,000 (250,000× 100) = 250,000

Closing WIP 30,000 (30,000× 10%) = 3,000

Total equivalent units 317,000.

1. DOC for opening inventory is 80%, that is 100%-20%. Remember that 20% work has been done in the previous period, so the balance is to be done in this current period

2. Fully work represent the units of inventory introduced in the current period and completed in the same period. Meaning 100% work was achieved in October .

3. Closing work is only 10% completed. This represent work started this period but not yet completed.

6 0

3 years ago

Scenario 34-2. The following facts apply to a small, imaginary economy.• Consumption spending is $6,720 when income is $8,000. •

KengaRu [80]

A stock-market boom stimulates consumer spending by $550, and there is a small operative crowding-out effect.

Option A

Explanation: 

Increasing consumption, i.e. further consumer spending, will result in increased overall demand for goods and services. Therefore, if spending decreases, i.e. if interest rates decline, demand will increase with development in technologies and increase output. And demand is going to rise.

The rate of interest is falling, resulting in a higher real balance for the economy. This boosts aggregate demand, which improves revenue and spending efficiency. Often, the demand curve will change left if the money supply declines.

Effect of increasing public spending, Increased government budgets are likely to increase total demand (AD).

8 0

4 years ago

Tangerine Company has the following sales budget for the last six months of 2019: July $120,000 August 100,000 September 110,000

AnnZ [28]

Answer:

The expected cash collections of sales in October $91,00

Explanation:

It is assumed that the remaining Percentage of 15% (100%-50%-25%-8%-2%) is received Third month following sale.

Cash Schedule is attached with the answer in an MS Excel file, Please find it.

Download xlsx

8 0

4 years ago

The Model E extender fits with the 2 inch heavy duty hitches.The contract calls for 247 Model E extenders per week to be deliver

boyakko [2]

Answer:

Cycle Time = 10.19482 minute

Explanation:

From the question :

The Model E can be illustrated perfectly as shown below:

Process Time Required Predecessor Task Learning Rate

per Unit

A 9 82

B 12 A 86

C 18 B 81

D 9 C 90

E 12 D 80

F 17 E 88

G 14 F 83

H 12 G 85

I 8 H 82

Now For the minutes per week for each Process; we have :

Process Time Required Predecessor Learning Minutes

per Unit Task Rate (Week 16)

A 9 82 4.069096

B 12 A 86 6.564098

C 18 B 81 7.74841

D 9 C 90 5.9049

E 12 D 80 4.9152

F 17 E 88 10.19482

G 14 F 83 6.644165

H 12 G 85 6.264075

I 8 H 82 3.616974

The objective here is to determine the expected Cycle Time for Model E in Week 16

So, we can equally regard the Cycle Time = Bottleneck of Activity for Week 16.

Cycle Time = 10.19482 minute in as much as it is the the largest activity time for the week 16

Given that the demand per week is : = 247

The available time per week = 40 hours = 40 × 60 hours = 2400 minutes

Talk Time = Available Time Per Week/Demand Per Week

Talk Time = 2400/247

Talk Time = 9.716599

Thus; here the cycle time is greater than the talk time.

4 0

3 years ago

A technology company that makes computers for professional use is trying to segment its customers. The company asked some profes

borishaifa [10]

Answer:

Benefit sought

Explanation:

Customer segmentation can be defined as the process of placing customers into different groups, this grouping is based on the age, interest, gender. It can also be referred to as the classification of potential customers based on the similar characteristics that they share.

Customer segmentation makes it easy for marketers create an awareness of their product to a particular group of people.

Benefit sought can be described as the segmentation of a market based on the various benefits that potential customers receive from purchasing a product.

8 0

4 years ago