A monopoly exists when _____ provides a good or service.

The weight of a product is normally distributed with a standard deviation of 0.5 grams. If the production manager wants no more

Savatey [412]

Answer:

4.28 grams

Explanation:

The z score is used to determine by how many standard deviations the raw score is above or below the mean. The z score is given by the formula:

$z=\frac{x-\mu}{\sigma} \\\\where\ \mu=mean,\sigma=standard \ deviation,\ x=raw\ score$

Given that:

P(x > 5.1 grams) = 5%, x = 5.1 grams, σ = 0.5 grams

P(x > 5.1 grams) = 5%

P(x < 5.1 grams) = 100% - 5% = 95%

P(x < 5.1) = 95%

From the normal distribution table, 95% corresponds with a z score of 1.645. Hence:

$1.64=\frac{5.1-\mu}{0.5}\\\\5.1-\mu=0.82\\\\\mu=4.28\ grams$

5 0

3 years ago

Massillon Company manufactures two models (X100 and Z300) of its product. Its departmental overhead rates have been determined a

ASHA 777 [7]

Answer:

Correct answer is option d

Overhead cost per unit

Product X100 = $825

Product Z300 = $1400

Explanation:

Overhead cost per unit = (OAR × machine hours/labour hours per unit)

Each product would be charged for overhead in each department using the overhead absorption rate applicable in each department

Overhead cost per unit X100:

($50×15) +($15 × 5) = $825

Overhead cost per unit Z300

($50×25) +($15 × 10) = $1400

4 0

3 years ago

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Suppose that the exchange rate between the dollar and the euro was euro0.879 per dollar in December 2018 and euro0.900 per dolla

mina [271]

Answer:

C

Explanation:

Suppose that the exchange rate between the dollar and the euro was euro0.879 per dollar in December 2018 and euro0.900 per dollar in December 2019. From December 2018 to December 2019, the euro: depreciated against the dollar because more euros are needed to purchase one dollar.

If you needed 0.879 euro in December 2018 in December 2019 you need 0.900 euro which means you need more euro to buy the dollar

7 0

3 years ago

December 3 – Vogel Corporation sold inventory on account to Hatcher Corp. for $492,000, terms 1/10, n/30. This inventory origina

laiz [17]

Answer:

Journals :

December 3

Accounts Receivable :Hatcher Corp. $492,000 (debit)

Cost of Sales $309,000 (debit)

Sales Revenue $492,000 (credit)

Inventory $309,000 (credit)

Sold goods on credit to Hatcher Corp

December 8

Sales Revenue $3,200 (debit)

Inventory $2,010 (debit)

Accounts Receivable : Hatcher Corp. $3,200 (credit)

Cost of Sales $2,010 (credit)

Hatcher Corp. returned goods

December 12

Cash $43,920 (debit)

Discount allowed $4,888 (debit)

Accounts Receivable : Hatcher Corp. $488,800 (credit)

Payment received from Hatcher Corp and discount allowed recognized

Net Sales to be reported :

Net Sales = $483,912

Gross profit percentage ;

36.56 %

Explanation:

Payment made by Hatcher Corp is still within 10 days (the discount period) thus the customer is eligible for a cash discount calculated on the sales amount less returns as follows :

Discount allowed = $488,800 × 1%

= $4,888

Thus,

Net Sales = $492,000 - $3,200 - $4,888

= $483,912

Gross Profit Percentage = Gross Profit /Sales × 100

Where

Gross Profit = Sales - Cost of Sales

= $483,912 - ($309,000 - $2,010)

= $176,922

Therefore,

Gross Profit Percentage = $176,922/ $483,912 × 100

= 36.56 %

8 0

3 years ago

Market power is_____________

IRINA_888 [86]

Description
Market power refers to the ability of a firm (or group of firms) to raise and maintain price above the level that would prevail under competition is referred to as market or monopoly power. The exercise of market power leads to reduced output and loss of economic welfare.

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3 years ago

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