The bakery market in a large city is an example of Monopolistic competition.
Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. In this case, the bakeries in large cities that produce similar, but not identical products. The market structure is a form of imperfect competition.
Some of the characteristic of a monopolistic competition structure are;
The presence of many companies.
Each company produces similar but differentiated products.
Companies are not price takers.
Free entry and exit in the industry.
Companies compete based on product quality, price, and how the product is marketed.
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Jerry will find the point of equilibrium. This is the point where marginal cost equals marginal revenue. This is the point that is Jerry produces anymore, it will start to cost him more than he makes. Thus, Jerry will stop providing new service at this point.
Journal entries
Dr Allowance for uncollectible account $41,000
Cr Account Receivable $41,000
Dr Account receivable $3,600
Cr Allowance for uncollectible account $3,600
Dr Cash $3,600
Cr Account receivable $3,600
Answer: let-government-do-it
Explanation:
The narrow corporate social responsibility has to do with the fact that corporations and businesses already contribute a positive quota to tye economy by generating revenue when they make profit, which they use in supporting the wages of employees, provision of employment, investments opportunities, and payment of taxes.
The argument believes that government should be allowed to do some other things.
Answer: $412,292
Explanation:
First compute Overhead Absorption Rate = Budgeted Overhead divided by Budgeted Activity Level
In this question the activity level is Direct Labour Hours (DLH) which is the basis for allocating overhead.
budgeted factory overhead for the year at $453,120, and budgeted direct labor hours for the year are 384,000.
$453,120 divided by 384,000 DLH =$1.18
Overheard to be allocated for May is OAR * Actual Activity level
$1.18*349400= $412,292
This is the amount to be allocated to may
