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sineoko [7]
2 years ago
10

Pick Industries produces plastic toothpicks that it sells to distributors in the Southwest. During the early 1990s, the price of

the plastic it uses to produce toothpicks fell by 46 percent, due to a local glut of recycled plastic containers. Assuming that the market for plastic toothpicks most closely resembles that of perfect competition and that other firms in the industry do not experience similar cost savings in the short run, what impact would this have on the profit-maximizing output, price, and profits of Pick Industries?
Business
1 answer:
Cerrena [4.2K]2 years ago
4 0

Answer:

Other things equal, the fall in the price of plastic would shift Pic's marginal cost curve to the right. To maximize profits, Pic should increase its output. Since other firms in the industry do not enjoy the reduction in marginal costs, the market supply curve would not change and the market price of toothpicks would remain unchanged. Pic Industries would enjoy higher profits in the short-run

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A house sold for $950,000 with a sales commission rate of 7.5%. The listing brokerage received 50% of the total commission and t
aleksandrvk [35]

Answer:$14,250

Explanation:

The total commission recieved is

950,000 x 7.5% = $71,250

The listing brokerage and the selling brokerage both received 50% of that sum which is

71,250/2 = $35,625

The Sales person gets 40% of the Selling brokerage's cut which would be

35,625 x 40% = $14,250

8 0
3 years ago
Question 3 (1 point)
Neporo4naja [7]

Answer:

Bank tellers are responsible for handling customer financial transactions like deposits, withdrawals, transfers, money orders, and checking. ... A bank teller's duties also may include counting cash, answering phones, filing deposit slips and paperwork, managing ATM deposits, and balancing numbers at the end of the day.  umm sooo true I think.

Explanation:

5 0
3 years ago
Orange Co. is a manufacturer and Pineapple Company is a merchandiser. What is the difference in the budgets the two entities wil
Irina-Kira [14]

Answer:

Orange Co.'s budget will include the cost of production, which is made up of raw materials, direct labor, and manufacturing overhead.  The above cost of production and the accompanying items will not be found in the budget of Pineapple Company.  The latter's budget will focus on purchase of goods for sale (instead of raw materials) and inventories of finished goods (instead of raw materials and work in process).  Orange Co. determines its product cost per unit from the cost of production divided by the quantity produced.  Pineapple Company's product cost is based on the purchase price of goods, which includes the manufacturer's profit.

Explanation:

The operations and accounting for the cost of production of Orange Co. will be different from Pineapple Company's.  The difference is a reflection of their statuses as manufacturer and merchandiser respectively.  Orange Co. manufactures and sells goods while Pineapple Company sell manufactured goods.

8 0
3 years ago
The current sections of Buffalo Corp.’s balance sheets at December 31, 2016 and 2017, are presented here. Buffalo Corp.’s net in
Triss [41]

Answer and Explanation:

The preparation of the cash flow from operating activities is presented below:

Cash Flows from Operating Activities  

Net income  $155,448

Adjustments

Add: Depreciation Expense $27,432  

Add: Decrease in Accounts receivable $9,144  (81,280  - 90,424)

Add: Decrease in Inventory $4,064  (170,688 -  174,752)

Less: Increase in Prepaid expenses -$5,080  (27,432 - 22,352)

Add: Increase in Accrued expenses payable $10,160  (15,240 - 5,080)

Less : Decrease in Accounts payable -$7,112   (86,360 - 93,472)

Total of adjustments                      $38,608

Net Cash Provided by Operating Activities  $194,056

The outflow of cash represents in negative sign and the positive sign reflects the inflow of cash

6 0
3 years ago
Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u
dezoksy [38]

Answer:

$ 317,000

Explanation:

Octuber Production:  200,000    

Variable Overhead:      $      0.80 per unit    

Fixed Overhead:        $ 157,000    

     

<u>Factory Overhead Budget for Octobe</u>r:      

   

Octuber Production x Variable Overhead =    <em>200,000 x 0.80 =  160,000</em>      

           

Variable Overhead:  <em>$ 160,000</em>

+  

Fixed Overhead:     <em>  </em><em><u>   $ 157,000</u></em><em> </em>  

     

Total Overhead:<em> </em>      <em>   </em><em>$ 317,000</em><em>    ( $ 160,000 + $ 157,000 )  </em>

4 0
3 years ago
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