Elastic demand means that consumers are sensitive to price and that increased prices can lead to lower sales. There isn't enough information to fully answer this question. We don't know how elastic the demand is. If the demand is only slightly elastic, the increased price and lower demand could still equal higher profits.

5 0

3 years ago

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct

Marat540 [252]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct labor cost was $48000 for 3000 direct labor hours worked.

We need to calculate the total direct labor variance, using two formulas:

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (1,800*2 - 3,000)*15= $9,000 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (15 - 48,000/3,000)*3,000= $3,000 unfavorable

Total direct labor variance= 9,000 - 3,000= $6,000 favorable

6 0

4 years ago

These are selected 2022 transactions for Pronghorn Corporation:

Nataly [62]

Answer:

Dr Amortization expense 19,500

Cr Copyright 19,500

December 31, 2022, amortization expense of patent

Dr Amortization expense 10,000

Cr Patent 10,000

No journal entry required for the Goodwill since its useful life is indefinite

5 0

3 years ago

What is the first step for marketers in implementing the marketing concept?

Svet_ta [14]

Answer:

The answer is: You need to identify your market.- Who are your potential customers and what unsatisfied need do they have in common?

Explanation:

A marketing concept can be defined as: The idea/concept/philosophy that your business is going to follow in order to satisfy their customers' needs while reaching their business's goals.

The first thing you need to do is identify your target market, i.e. Who are your potential customers and what unsatisfied need do they have in common?

3 0

3 years ago