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kotegsom [21]
3 years ago
11

Determine which statement about the absolute value of the price elasticity of demand is correct. The price elasticity of demand

for gasoline is greater than the price elasticity of demand for cereal because because more people eat cereal than use gasoline. The price elasticity of demand for Gain laundry detergent is likely to be greater than the price elasticity of demand for laundry detergent in general. The price elasticity of demand for laundry detergent in general is likely to be greater than the price elasticity of demand for Gain laundry detergent. The price elasticity of demand for gasoline is less than the price elasticity of demand for cereal because because more people eat cereal than use gasoline.
Business
1 answer:
dedylja [7]3 years ago
6 0

Answer: Option (b) is correct.

Explanation:

Correct option : The price elasticity of demand for Gain laundry detergent is likely to be greater than the price elasticity of demand for laundry detergent in general.

People are definitely using laundry detergent for doing laundry but when we are talking about a particular detergent, then are many substitutes available to do the laundry. Hence, the price elasticity of demand for the Gain laundry detergent is generally higher than for the laundry detergent in general.

Therefore, correct option is part (b).

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Nowadays,there are more separate retail and commercial banks than ever.
cupoosta [38]
B!!!!!!!!!!!!!!!!!!!!
5 0
3 years ago
The three (3) key components in creating a financial plan are: Select one: a. The sales forecast, proforma financial statement a
atroni [7]

Answer:

The correct answer is the option D: Free cash flow, economic value added, sales forecast.

Explanation:

To begin with, in the field of business, a financial plan consists of an strategy that the managers of the company must follow in order to have every money aspects established and on guard of what can happen straight ahead regarding the conditions and circumstances of the organization's environment and context as well. Therefore that a financial plan's major three components are the cash flow statement where the managers must see how the money is flowing in and out, also the sales forecast that will encourage the company itself to try to achieve that expectations and the economic value added could also be very important when it comes to matters of money and how the business will value their products for sale according to the costs structure that the enterprise has.  

7 0
3 years ago
Rally Quadcopters plans to sell a standard quadcopter (toy drone) for $45 and a deluxe quadcopter for $65. Rally purchases the s
Andrew [12]

Answer:

Rally must sell 1,080 units of Standard and 720 units of Deluxe

Explanation:

                                                  Standard       Deluxe        Total

Sales price per unit                      $45                $65

Less: Variable cost                      ($35)              ($45)

Contribution Margin per  unit       $10                $20

Sales Mix units  (A)                        $3                  $2                $5

Contribution margin                      $30                $40             $70

Weighted average Contribution                                              $14    

per unit C= B/A

Appointment of fixed cost between standard and deluxe

Total Fixed cost = 14,700

Break even point = Fixed cost / Weighted average Contribution  per unit

= 14,700 / 14

= 1,050

Apportionment of Break even point sales between Standard and deluxe in sales mix ratio (3:2)

Standard = 1,050 * 3/5 = 630

Deluxe = 1,050 * 2/3 = 420

Unit to be sold to get desired profit = Fixed cost + Desired profit / Weighted average Contribution per unit

= (14,700 + 10,500) / 14

= 1,800

Apportionment of Units to be sold to get desired profit between Standard and Deluxe in sales mix ratio (3:2)

Standard = 1,800 * 3/5 = 1,080

Deluxe = 1,800 * 2/5 = 720

To reach target operating income, Rally must sell 1,080 units of Standard and 720 units of Deluxe

4 0
3 years ago
Cost of Goods Manufactured for a Manufacturing Company
aniked [119]

Answer:

Cost of goods manufactured $ 2567,400

Explanation:

<u>Ethtridge Manufacturing Company </u>

<u>Statement of Cost of Goods Manufactured </u>

<u>For the Month Ended July 31 </u>

Direct materials $1,150,000

Direct labor 966,000

Total factory overhead 490,500

Total manufacturing costs $  2606500

Add July 1 Work in process inventory, 316,400

Cost of Goods Available for manufacture $ 2922,900

Less July 31 Work in process inventory,  355,500

Cost of goods manufactured $ 2567,400

When we add the direct materials. direct labor and FOH we get the total manufacturing costs .

When the total manufacturing costs are added to the opening work in process inventory we get the cost of goods available for manufacture and we get the cost of goods manufactured by subtracting the ending work in process inventory from the cost of goods available for manufacture.

6 0
3 years ago
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p
Delicious77 [7]

Answer:

DR Interest receivable                                  26,400

CR Interest revenue                                                       26,400

Explanation:

As first lease has already been paid, the amount left of the lease is;

= 280,000 - 40,000

=$240,000

Interest is 11% so the interest to be received in December is;

= 11% * 240,000

= $‭26,400‬

This will be debited to Interest receivable as it is money owed and credited to Interest revenue as it is money earned.

6 0
3 years ago
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