Answer:
The correct answer is letter "C": the relationship between a country's GDP and its factors of production.
Explanation:
The Aggregate Production Function describes the relationship between a country's Gross Domestic Product (GDP) and the factors of production involved in it. Aggregate Production functions are considered physical and human capital, labor, knowledge, social infrastructure, and natural resources. Production increases as a result of increases in capital, natural resources, and labor.
Answer:B The company's marketing strategy has neglected changes in
social factors pertaining to gender and status roles.
Explanation:
Answer:
The ending inventory value at cost is ($100,000)
Explanation:
To calculate the cost of ending inventory using the retail inventory method, we need to know:
- The cost-to-retail percentage = COGS/ sales during current year = (sales – net markup)/sales = ($2,500,000-$200,000)/$2,500,000 = 92%
- The cost of goods available for sale= Cost of beginning inventory + Cost of purchases = $200,000 + $2,000,000 = $2,200,000
- The cost of sales during the period = Sales × cost-to-retail percentage = $2,500,000 x 92% = $2,300,000
- The ending inventory = Cost of goods available for sale - Cost of sales during the period = $2,200,000 - $2,300,000 = ($100,000)
Answer:
D. Step cost
Explanation:
Riddell Company manufactures one type of basketball. Each basketball is sold for $55 and the individual contribution margin is $27. Total fixed costs are $185,000 annually. Included in fixed costs are two production supervisor’s salaries of $96,000. Management estimates that production supervisors can effectively oversee the production of 6,000 basketballs. After that, an additional production supervisor needs to be hired.
Production supervisor’s salaries are a step cost which are expenses that are constant for a given level of activity and does not change steadily with changes in activity volume, but rather at discrete points.
