Answer:
Results are below.
Explanation:
<u>To calculate the direct material price and quantity variance, we need to use the following formula:</u>
Direct material price variance= (standard price - actual price)*actual quantity
Direct material price variance= (9 - 8.64)*39,600
Direct material price variance= $14,256 favorable
Direct material quantity variance= (standard quantity - actual quantity)*standard price
Direct material quantity variance= (2,400*16 - 39,600)*9
Direct material quantity variance= -$10,800 unfavorable
Total variance= 14,256 - 10,800
Total variance= $3,456 favorable
An elastic products prices are responsive to changes in demand. Generally, the necessity of the product is related to it's elasticity. For example, insulin is essential for diabetics, so the price is extremely inelastic—people will pay any amount because it is a life or death situation. The price of a new MP3 player can be inelastic, especially because results show that people want the newest thing, and will pay more if it works better than the previous model. Additionally, the price of "scalper" tickers to the World Series will increase by demand, but they will still sell regardless. The price of dairy products, however, is rather elastic; this is because when the price rises, people switch to a cheaper brand. The difference between an inelastic and elastic product is that elastic products have substitutes, whereas inelastic products have no substitutes (or sometimes very few).
Answer: A. the price of dairy products
hope this helps :)
Answer:
Neglecting to gather information on whether or not the plan was successful.
Explanation:
In this step, he is most likely to face the problem of Neglecting to gather information on whether or not the plan was successful. The whole goal of the evaluation and feedback step is to analyze the results that occurred due to the decision that was made and determine whether or not it was successful, and this is done by receiving feedback from those that the decision affects. The biggest problem seen in this step is when the individual fails to gather enough information to determine effectively whether or not the decision was a good decision based on whether or not it accomplished what it was meant to accomplish.
Answer:
c. 41
Explanation:
The first thing we need to do is evaluate the monthly costs of the team:
Monthly Costs: $100 for the park, $1,000 for the salaries.
Total: $1,100
They play 2 local games per month, so they have costs of $550 / local game.
Now, for each ticket they sell, they get $10 for the ticket and $3.50 in concessions. Assuming these are net money from the concessions, not just sales. So, for each ticket sold, they get $13.50 in revenues.
To cover their $550/game costs they need to sell...
550 / 13.50 = 40.74 tickets... so 41 tickets are needed to cover those monthly costs.
Answer: Option A is the right answer
Explanation: Evidences in most cases has shown that MACRS is all about applying convention for one and a half year on assets. So when an entities owns 35-40% of an asset in forth quarter, Mid quarter convention will be applied for only one half of the last quarter, logically one and half month in the last quarter.
