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Anastasy [175]
3 years ago
5

Product variety is likely to be greater in

Business
1 answer:
GrogVix [38]3 years ago
8 0
The correct answer that would best complete the given statement above is option A. Product variety is likely to be greater in monopolistic competition than in pure competition. When we say monopolistic competition, this is a type of competition when <span>producers sell goods that are differentiated from one another. Hope this answer helps.</span>
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On March 15, a fire destroyed Sheridan Company's entire retail inventory. The inventory on hand as of January 1 totaled $5900000
likoan [24]

Answer:

the approximate value of the inventory that was destroyed is $4,862,000.

Explanation:

Use the Gross Profit percentage to find the value of the inventory that was destroyed.

Sales                                                          $4,140,000

Less Cost of Goods Sold

Opening Inventory          $5,900,000

Add Purchases                $2,032,000

Add Freight In                     $242,000

Available                            $8,174,000

Less Inventory Lost         ($4,862,000)

Cost of Sales                                             (3,312,000)

Gross Profit at 20%                                    $828,000

Conclusion :

The Value of  inventory that was destroyed is $4,862,000.

3 0
3 years ago
Spencer Chemical Corporation produces an oil-based chemical product which it sells to paint manufacturers. In 2019, the company
Snowcat [4.5K]

Answer:

Total incremental net income = $28,000

Incremental per gallon increase in net income = $0.70 per unit

Explanation:

a. The preparation of incremental statement to find out the increase in net income

Total production                                  $140,000

Less:

Incremental cost

Direct material              $68,000

($1.70 × 40,000 gallons)

Direct labor                  $24,000

($0.60 × 40,000 gallons)

Variable manufacturing

overhead                     $20,000

($0.50 × 40,000 gallons)

Total incremental cost                      ($112,000)

Total incremental net income          $28,000

b. Incremental per gallon increase in net income = Total incremental net income ÷ Total quantity

= $28,000 ÷ 40,000 gallons

= $0.70 per unit

Therefore the total incremental net income is $28,000 and incremental per gallon increase in net income is $0.70 per unit.

5 0
3 years ago
Which of the following statements is correct?A.The payment of a cash dividend reduces net income.B.Cash received from issuing co
ioda

Answer:

B.Cash received from issuing common stock to stockholders is reported as a financing activity cash flow within the statement of cash flows.

Explanation:

As when common stock is issued, it provides cash to the company, for any kind of investments, or expense to be made, for running the business.

Financing activities are those which arrange monetary assets generally cash for the company, issue of securities, issue of bonds, borrowings as loans or note payable.

Thus, the statement B is correct.

Further dividends are provided after tax, and are distribution from net income, but not shown under that.

Providing services on account will provide revenue and net income will increase.

Purchasing of any equipment is investing as it will create an asset for the company.

7 0
3 years ago
there is a technological improvement in the production of good x. as a result, the curve for good x will shift resulting in a(n)
bulgar [2K]

There would a shift to the right of the supply curve. The equilibrium price would decrease and the equilibrium quantity would increase.

<h3>What is the impact of technological improvement?</h3>

Technological improvement in the production process means that there is an advancement or update in the technologies that are used in the production process. For example, progress from storing information in files to storing information in the cloud is an example of technological improvement.

A  technological improvement in the production of  a good would make it easier to produce a good. Thus, the supply curve would move forward.

Equilibrium quantity would increase. Due to the increase in quantity supplied, price has to decline in order to induce consumers to buy more of the product.  Equilibrium price would decrease.

To learn more about an increase in supply, please check: brainly.com/question/14727864

#SPJ1

3 0
1 year ago
Sharon Corporation redeems 20 shares of Kevin's common stock. Kevin directly owned 50 shares prior to the redemption. Kevin is a
alexdok [17]

Answer:

75 shares

Explanation:

In this specific scenario, it seems that Kevin is treated to 75 shares prior to the redemption. This is calculated by adding the 50 shares that Kevin holds directly prior to the redemption itself as well as the 25 extra shares that are held by AMI. These 25 shares are 50% of the total 50 shares that AMI holds since Kevin is a 50% partner.

4 0
3 years ago
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