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3 years ago

How do consumer expectations affect demand?

1 answer:

5 0

If the consumer expected price increase for any reason in such good he will buy it before the time he expects to apply for that increase.

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Parsley, a world-famous chef, signs a contract to give lessons in French cooking to Curry. Parsley wants to transfer his duties

Margarita [4]

Answer:

C. <u>not valid because performance depends on Parsley's personal skills</u>

Explanation:

A valid contract refers to an agreement entered into by parties which legally binds both parties and is enforceable under the law.

For a contract to be termed as valid, it must be performed by the parties to it.

Performance clause in a valid contract refers to doing or acting in a way as is required by the terms of the contract.

In the given case, Parsley signed a contract to provide services i.e provide French cooking lessons to Curry. Later, Parsley wants to transfer his duties to Relish.

The transfer will not be valid since the performance i.e service to be provided by Parsley are of personal nature and the consideration is based upon that. No two individuals can provide exact services.

8 0

3 years ago

) Prestwich Company has budgeted production for next year as follows: First Quarter Second Quarter Third Quarter Fourth Quarter

grigory [225]

Answer:

165,000 pounds ($495,000)

Explanation:

To determine the budgeted purchases of material A in pounds for the second quarter, prepare a Materials Purchases Budget as follows :

<u>Materials Purchases Budget</u>

Pounds

Materials Required for Production (80,000 x 2) 160,000

Add Closing Materials Inventory (90,000 x 2 x 25%) 45,000

Total Materials 205,000

Less Opening Materials Inventory (80,000 x 2 x 25%) (40,000)

Material Purchases 165,000

Cost per unit $3

Budgeted Materials Cost $495,000

6 0

3 years ago

Harrod Company paid $4,800 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The b

Cerrena [4.2K]

Answer:

Debit Insurance Expense, $2,400; credit Prepaid Insurance, $2,400.

Explanation:

The journal entry is given below

Insurance expense A/c Dr $2,400

To Prepaid Insurance $2,400

(Being insurance expense is recorded)

The computation is shown below:

= Insurance premium ÷ number of months × required months

= $4,800 ÷ 4 months × 2 months

= $2,400 months

The 2 months is taken from November 1 to December 31

6 0

3 years ago

Gundy Company expects to produce 1,207,200 units of Product XX in 2017. Monthly production is expected to range from 75,600 to 1

kenny6666 [7]

Answer and Explanation:

The preparation of the flexible manufacturing budget is presented below:

Activity level

Finished units 75,600 96,600 117,600

(75,600 + 21,000)

Variable costs

Direct materials($3) $226,800 $289,800 $352,800

Direct labor ($7) $529,200 $676,200 $823,200

Overhead ($10) $756,000 $966,000 $1,176,000

Total variable costs $1,512000 $1,932,000 $2,352,000

Fixed costs

Depreciation [($4 × 1,207,200) ÷ 12] $402,400 $402,400 $402,400

Supervision [($1 × 1,207,200) ÷ 12] $100,600 $100,600 $100,600

Total fixed costs $503,000 $503,000 $503,000

Total costs $2,015,000 $2,435,000 $2,855,000

We simply added the total variable and total fixed cost so that the total cost could come and the same is shown above

5 0

3 years ago

Two of the concerns that a producer of goods, would face with a greater number of channel levels are ________ and greater channe

garik1379 [7]

Answer:

Less control

Explanation:

Two of the problems that a product consumer will encounter with more channel rates are less power and more difficulty in the system.

Clearly, increasing the sophistication of human control systems would be more appropriate if they had greater control of their surroundings, as this would render life and reproduction simpler for them.

Therefore, evolution by natural selection will tend to increase regulation, and thus internal variability.

4 0

3 years ago