True. A company will develop a standard cost for each product type if it produces many different products.
The process cost system should be used when manufacturing is efficient and continuous. This system's equivalent units method successfully represents the challenging problem of determining how much work the Work in Process entails.
Process costing explains how to use the concept of equivalent units to assign manufacturing costs to the units produced. Businesses may create and market various goods, or at the very least, multiple versions of the same product. Most of the time, manufactured goods are connected in terms of consumption or production. The firm's output and pricing decisions must consider the relationships between the items when they are related.
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Answer:
The demand for cereal is elastic.
The demand for the magazine is inelastic.
Explanation:
The price elasticity of demand is the degree of responsiveness of quantity demanded to change in price. A negative price elasticity implies that the product is a normal good.
The price elasticity of demand for cereal is −1.03. This means that the demand is price elastic. An elastic demand implies that a change in price will cause more than proportionate change in quantity demanded.
The price elasticity of demand for a particular magazine is −0.72. This means that the demand is price inelastic. An inelastic demand implies that a change in price will cause less than proportionate change in the quantity demanded.
Answer:
Five examples that support successfulness of the competition policy of South Africa are: 1) The product choices along with its competitive prices were provided to the consumers. 2) Practices such as horizontal collusion and resale price maintenance was declared unlawful in 1984.
Explanation:
This is an example of outsourcing, which is when domestic jobs are sent to countries overseas to take advantage of the lower costs.
Answer:
(A) $5,131.5
(B) $12,729.5
Explanation:
The interest earned on the value of interest earned before is the compounded interest. Compounding is the reinvestment of the amount earned before and take return over it too.
As per given data
Invested amount = $5,000
Interest rate = 3.9%
Interest is compounded monthly
Monthly rate = 3.9% / 12 = 0.325%
Formula for the accumulated amount of investment
A = P ( 1 + r )^n
Accumulated Money when $5,000 is
(A) Invested for 8 months
A = $5,000 ( 1 + 0.325% ) ^8
A = $5,131.5
(b) Invested for 24 years or 288 months (24 x 12)
A = $5,000 ( 1 + 0.325% ) ^288
A = $12,729.5
