Consumer Surplus
This is the difference between what consumers are willing and able to pay and what they actually do pay. You may be willing to spend up to $100 on a new pair of shoes but if you find the perfect pair on sale for $20 you will buy those and there will be an $80 surplus.
Answer:
d
Explanation:
i just took the test my gee
Answer:
2.09
Explanation:
Asset ratio is a business tool used to measure the efficiency of assets towards sales generation by comparing net sales to average total assets.
It is calculated by dividing the net sales by average total assets.
The average total assets is used in order to make allowance for fluctuation in the course of business year
<u>Workings</u>
Net sales = $217550
Opening total asset = $94200
Closing Total assets = $ 113500
Asset ratio turnover = 217550/(94200+113500)/2
=2.09
Answer:
Unitary variable cost= $40
Total variable cost= $800,000
Explanation:
Giving the following information:
Direct materials $ 10 per unit
Direct labor $ 20 per unit
Overhead costs for the year Variable overhead $ 10 per unit
Fixed overhead $ 160,000
Units produced 20,000 units
Unitary variable cost= direct material + direct labor + manufacturing overhead= 10 + 20 + 10= $40
Total variable cost= 20000units* 40= $800,000