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4 years ago

In cost benefit analysis why must there be a single common unit?

Business

1 answer:

stich3 [128]4 years ago

4 0

Answer:

Explanation:

In a cost benefit analysis, you have to have a common unit so that you are able to make a comparison. As the old saying goes, it is hard to compare apple to oranges. To know if a product is worth the investment, we must use money as a common unit for comparison's sake.

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Real estate professionals have long supported strict standards of ethics and practice. Followed by all states and federal regula

docker41 [41]

Answer:

The answer is: Uniform Standards of Professional Appraisal Practice (USPAP)

Explanation:

The USPAP represents the ethical and performance standards that real estate professionals must follow when they provide appraisals. It is updated every two years and real estate professionals that want to become real property appraisers must take and pass the national USPAP course, and every two years they must take the update course.

7 0

3 years ago

Jake, who runs a local pet shop, finds its rewarding to interact with customers who like pets. Hence, he is recognized in the lo

Alexus [3.1K]

Answer:

Consumer behaviour

Explanation:

Consumer behaviour is comparatively a new field of study which evolved just after the Second World War . The sellers market has disappeared and buyers market has come up. This led to paradigm shift

of the manufacturer‘s attention from product to consumer and specially

focused on the consumer behaviour. The evaluation of marketing concept from mere selling concept to consumer - oriented marketing has resulted in buyer behav i our becoming an independent discipline. The growth of consumerism and cons umer legislation emphasizes the

importance that is given to the consumer. Consumer behaviour is a study of how individuals make decision to spend their available resources ( time, money and effort) or consumption related aspects (W hat they buy ? W hen they bu y ? , How t h ey buy ? e tc ).

The heterogeneity among people makes understanding consumer

behaviour a challenging task to marketers. Hence marketers felt the need to obtain an in - depth knowledge of consumers buying behaviour. Finally this knowledge acted as an imperative tool in the hands of marketers to forecast the future buying behavior of customers and devise four marketing strategies in order to create long term customer relationship.

3 0

3 years ago

The following three identical units of Item A are purchased during April:

grandymaker [24]

Answer:

Determination of Gross Profit and Ending Inventory:

a. First-in, First-out (FIFO)

1. Determination of Gross Profit:

Sales $118

Cost of Sales 68

Gross profit $50

2. Determination of Ending Inventory:

Apr. 14 Purchase 1 $73

Apr. 28 Purchase 1 75

Total 2 $148

b. Last-in, First-out (LIFO):

1. Determination of Gross Profit:

Sales $118

Cost of Sales 75

Gross profit $43

2. Determination of Ending Inventory:

Apr. 2 Purchase 1 $68

Apr. 14 Purchase 1 $73

Total 2 $141

c. Weighted average cost methods:

1. Determination of Gross Profit:

Sales = $118

Cost of Sales = 72

Gross profit = $46

2. Determination of Ending Inventory:

Ending inventory = 2 x $72 = $144

Explanation:

FIFO, LIFO, and Weighted Average Cost Methods are different techniques for allocating costs of products to the cost of goods sold and the ending inventory. They produce different results. FIFO assumes that units sold are taken from the units purchased first. LIFO assumes that units sold are taken from the units purchased last. Weighted Average Method uses the average cost to determine the cost to allocate to cost of sales and ending inventory. The average cost is obtained by summing the total inventory costs and dividing it by the units available for sale. Then this average cost is applied to the quantity sold and the quantity remaining to obtain cost of goods sold and value of ending inventory.

4 0

4 years ago

Assume MIX Inc. has sales volume of $1,342,000 for two products with May sales and contribution margin ratios as follows:

ololo11 [35]

Answer:

Instructions are below,

Explanation:

Giving the following information:

Product A: Sales $514,000; Contribution Margin Ratio 30%

Product B: Sales $828,000; Contribution Margin Ratio 60%

fixed expenses are $338,000

First, we need to calculate the total contribution margin:

Total CM= CM Product A + CM Product B

Total CM= 514,000*0.3 + 828,000*0.6= $651,000

The operating income is calculated deducting from the total contribution margin the fixed costs:

Operating income= 651,000 - 338,000= 313,000

The average weighted contribution margin is calculated using the contribution margin ratio per product and the sales mix.

Sales mix:

Product A= 514,000/1,342,000= 0.38

Product B= 828,000/1,342,000= 0.62

Weighted average contribution= contribution margin ratio*sales mix

Product A= 0.3*0.38= 0.114

Product B= 0.6*0.62= 0.372

Total= 0.486

Weighted average contribution margin ratio= 0.486= 48.6%

Finally, we can calculate the break-even point in units:

Break-even point (units)= Total fixed costs / Weighted average contribution margin ratio

Break-even point (units)= 338,000/ 0.486= $695,473.25

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3 years ago

Which one of the following is a characteristic of an oligopoly

ycow [4]

Three most important characteristics of oligopoly are: (1) an industry dominated by a small number of large firms, (2) firms sell either identical or differentiated products, and (3) the industry has significant barriers to entry.

3 0

3 years ago