Answer:
Contribution Margin Income Statement
+Sales Revenue 1,400 x $95 = $133,000
-Variable production costs 1,400 x $65 = ($91,000)
-Variable selling costs 1,400 x $2 = ($2,800)
=Contribution Margin $133,000 - $91,000 - $2,800
= $39,200
-Fixed production costs ($13,000)
=Net profit = $39,200 - $13,000
= $26,200
The average of inventory is the average amount of inventory available in stock for a specific period.
To calculate the average of inventory, take the current period inventory balance and add it to the prior period inventory balance. Divide the total by two to get the average inventory amount.
The own-price elasticity of the soccer cones is -0.67
The computation of the own-price elasticity of the soccer cones is as follows:
We know that
The Elasticity of demand is
= (change in quantity ÷ average quantity) ÷ (change in price ÷ average price)
Here
Change in quantity = 14 - 10 = 4
average quantity = (14 + 10) ÷ 2 = 12
change in price = 3 - 5 = -2
average price = (3 + 5) ÷ 2 = 4
So,
The Elasticity of demand is
= (4 ÷ 12) ÷ (-2 ÷ 4)
= -0.67
Therefore we can conclude that the own-price elasticity of the soccer cones is -0.67
Learn more about the price elasticity of demand here: brainly.com/question/15313354
you've been meaning to fix those rotted boards on your porch for years. finally, last week the deck gave way. No, you will not be able to recover the cost of replacement. This is further explained below.
<h3>What is the cost?</h3>
Generally, the cost; In order to get or carry out (something), one must first spend (a certain quantity of money).
In conclusion, You've been looking at the rotten planks on your porch for years and know you need to do something about it. The deck ultimately collapsed last week. The cost of replacement cannot be recouped, unfortunately.
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