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3 years ago

Merchandise operations

Business

1 answer:

Anarel [89]3 years ago

3 0

Please elaborate, I don't quite understand the question. If your asking for the definition it is as follows:

your purchasing, selling, collecting and payment activities. Although cyclical in nature, they are ongoing operations designed to improve your cash flow. Efficient merchandising operations are designed to keep your store well stocked with inventory that your customers want to buy!

Hope this helps~

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Typically, the government limits the quantity of a good that can be bought and sold by: setting a price floor below the equilibr

natka813 [3]

Answer:

Setting a price floor below the equilibrium price.

Explanation:

To begin with, it is essential to understand some key concepts:

1. Price floor - can be regarded as the least price that can be established for a category of products in the market.

2. Price Ceiling, on the other hand, can be regarded as the price cap to ensure price of a commodity does not rise above a certain level.

Essentially, price floor and price ceiling are two elements of price control.

Equilibrium price can be regarded as price at which quantity demanded equals quantity supplied.

Equilibrium price is thus the optimum and best combination of demand and supply that could give an optimum return. Any price short of the equilibrium price is often at the risk of the seller.

Thus, setting a price floor below the equilibrium price is tantamount to reducing the interest of the seller in selling such products. Ultimately, this reduces the amount of goods available in the market, while the demand will be enormous, owing to the lower price floor. The implication is that the quantity that can be bought or sold has been effectively curtailed by the government.

On the other hand, setting price ceiling above the equilibrium price would not achieve the objective of the government. This would only ensure the flooding of commodities in the market, effectively dwarfing the quantity demanded. This is away from the objective of the government as implied in this given question.

7 0

3 years ago

A friend offers you a ticket to a Chicago Cubs baseball game for $40. You know you can sell the ticket to another friend for $50

olganol [36]

Answer:

$50

Explanation:

Opportunity cost is the cost of the next best option forgone when one alternative is chosen over other alternatives.

If I decide to go to the game, I forgot the opportunity of selling the ticket for $50 which is the next best use of the ticket.

I hope my answer helps you

6 0

3 years ago

The following data are from the accounting records of Niles Castings for year 2: Units produced and sold 80,000 Total revenues a

Kruka [31]

Answer:

Gross Margin = $ 115,000 Contribution Margin= $ 144,500

Explanation:

Nile Castings

Income Statement

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Fixed Manufacturing Costs $ 41,000

Gross Margin $ 115,000

Less Marketing & Administrative Costs

Fixed Marketing Costs $ 38,000

Variable Marketing Costs $ 11,500

Net Profit $ 65,500

Nile Castings

Income Statement Under Absorption Method

Year 2

Sales Revenue $ 270,000

Direct Materials $63,000

Direct Labor $ 33,000

Variable Manufacturing Overheads $ 18,000

Variable Marketing & Administrative Costs $ 11,500

Contribution Margin $ 144,500

Less Fixed Costs

Fixed Manufacturing Costs $ 41,000

Fixed Marketing Coss $ 38,000

Net Profit $ 65,500

3 0

3 years ago

The definition of inventory includes which of the following items? (Select all that apply.) a) items used currently in the produ

Yanka [14]

Answer:

Items a) and b)

a) items used currently in the production of goods to be sold items

b) held for resale items currently in production for future

Explanation:

Inventory consists of current assets to be used in production of final goods or are the ones which are final goods and held for sale.

In the given case also, statement a includes raw materials, which are used to make the final good to be sold, which is a part of inventory.

Further, statement b includes work in production or final goods which are currently in production but would be resold.

The items which are kept for their use as like machinery or furniture or which shall be disposed are not inventory but are in fixed assets category.

3 0

3 years ago

During April, Cavy Company incurred factory overhead as follows:Indirect materials $10,500Factory supervision labor 4,000Utiliti

Artist 52 [7]

Answer:

Date Account Title Debit Credit

April Factory Overhead $16,720

Indirect materials $10,500

Wages payable $4,000

Utilities payable $ 500

Accumulated Depreciation $ 620

Small tools $ 370

Equipment rental $ 730

3 0

3 years ago