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If the price of basketballs goes up from $7.99 to $14.99, what can be expected from suppliers of basketballs as a result?

blagie [28]

If the price of basketballs goes up from $7.99 to $14.99, what can be expected from suppliers of basketballs as a result there will be an increase in quantity supplied.

In economics, quantity supplied represents the number of goods or services that a supplier produces and sells at a given market price. Supply is different from the actual supply (that is, total supply). This is because price changes affect how much suppliers actually put into the market.

A quantity supplied is the quantity of a product that a retailer intends to sell at a specific price, called the delivery quantity. A time period is also usually specified when describing shipping quantities. Example: If the price of an orange is 65 cents, he has a supply of 300 per week.

Learn more about the quantity supplied here: brainly.com/question/28072862

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3 0

2 years ago

Given Advanced Company's data, and the knowledge that the product is sold for $71 per unit and operating expenses are $300,000,

Kobotan [32]

Answer:

b) $113,000

Explanation:

For the computation of net income under absorption costing first we need to follow some steps which is shown below:-

variable overhead per unit = $105,000 ÷ 35,000

= $3 per unit

The Variable cost of production per unit

Particulars Amount

Direct material $19.00

Direct labor $21.00

Variable overhead $3.00

Variable cost of production

per unit $43.00

Cost per unit of finished goods under absorption costing

Particulars Amount

Total direct material cost $665,000

($19 × 35000)

Total direct labor $735,000

($21 × 35000)

Total variable overhead $105,000

Total fixed overhead $175,000

Total $1,680,000

Units in finished goods = Number of units produced - units sold

= 35,000 - 21,000

= 14,000

Cost of finished goods under variable costing

= Variable cost of production per unit × Number of units in finished goods

= $43 × 14,000

= $602,000

Cost of goods sold

= Production cost - Finished goods cost

= $1,680,000 - $602,000

= $1,078,000

Income statement under absorption costing

Particulars Amount

Sales revenue $1,491,000

($71 × 21,000)

Less: cost of goods sold -$1,078,000

Gross Profit $413,000

Less : operating expenses -$300,000

Net operating income $113,000

3 0

3 years ago

8. Hayward Industries manufactures dining chairs and tables. The following information is available: Dining ChairsTablesTotal Co

Contact [7]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Dining Chairs - Tables - Total cost

Machine setups: 200 - 600 - $48,000

Inspections: 250 - 470 - $72,000

Labor hours: 2,600 - 2,400

A) A single overhead rate:

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (48,000 + 72,000) / (2,600 + 2,400)= $24 per direct labor hour

Now, we can allocate overhead based on direct labor hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Dining Chairs:

Allocated MOH= 24*2,600= $62,400

Tables:

Allocated MOH= 24*2,400= $57,600

B) We have to calculate an overhead rate for each activity cost pool.

<u>Overhead rate:</u>

Machine setups:

Estimated manufacturing overhead rate= 48,000/800= $60 per machine hour set up

Inspections:

Estimated manufacturing overhead rate= 72,000/ 720= $100 per inspection

Based on the overhead rate, we can allocate overhead to each product.

Dining chairs:

Allocated MOH= 60* 200 + 100*250= $37,000

Tables:

Allocated MOH= 60*600 + 100*470= $83,000

C) We can conclude that activity cost allocation is more accurate than using a single rate plant-wide. We can allocate costs more efficiently.

7 0

3 years ago

If marginal cost is greater than average cost, then

Alex777 [14]

Answer (Marginal costs)

The answer is marginal costs because they are the highest in the margin.

Hope this helps have a nice day :)

8 0

2 years ago

What is a distribution channel?

Ilya [14]

Answer:

Medium of communication

Explanation:

Distribution is one of the four main elements of the marketing mix and its a process of making the predictor services available to the costumers and can be done directory by a producer or service provider that has indirect channels of the distributions

The decision about the distribution are taken by the companies vision and the mission and the goals of the organization that depends in the strategic planning.

5 0

4 years ago