Answer:
The correct answer is letter "D": pertains to sub-units of the entity and may be very detailed.
Explanation:
Managerial Accounting is<em> internally-based accounting</em> that helps managers measure the results of their decisions. This is in contrast to financial accounting which emphasizes more general, higher-level financial results. One common managerial accounting tool is determining the <em>profit margin in each of the company's products</em>. This information helps managers set product prices and ensure that they are making appropriate profit margins.
Answer:
a) Increase
b) Increase
c) Increase
d) Increase
e) Increase
Explanation:
a) The price of corn
The increase in the demand for corn will cause an increase in the price of corn
b) The quantity of corn supplied
The quantity of corn supplied will increase rapidly in the short run before equilibrium will be established in the market
c) The cost of producing soybeans and wheat crops will Increase due to the High demand for corn hence the supply will decrease as well
d) The price of cereals and other products produced from corn will Increase as well
e) The price of beef and other meat gotten from animals that fed on Corn will Increase as well because the cost of their feed will increase
In the market for personal computers, we would expect the Equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.
<h3>
What is equilibrium quantity?</h3>
- When there is no shortage or surplus of a product on the market, it is said to be in equilibrium quantity.
- When supply and demand meet, the amount of an item that consumers want to buy equals the amount supplied by its producers.
- The equilibrium price is the only price at which consumers' and producers' plans coincide—that is, the amount consumers want to buy of the product, quantity demanded, equals the amount producers want to sell, quantity supplied.
- Assume there is an increase in both supply and demand for personal computers.
- The Equilibrium quantity would then rise in the market for personal computers, while the change in the equilibrium price would be ambiguous.
Therefore, in the market for personal computers, we would expect the equilibrium quantity to rise and the change in the equilibrium price to be ambiguous.
Know more about equilibrium quantity here:
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The correct question is given below:
Suppose there is an increase in both the supply and demand for personal computers. In the market for personal computers, we would expect the Equilibrium quantity to ______ and the change in the equilibrium price to be __________
Answer:
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Explanation:
Answer: $65
Explanation: Under the FIFO method, that is, first in first out method inventory is recorded on the assumption that the goods that were purchased first will also be sold first and the remaining inventory will have the latest purchased units.
So, in the given question the two units sold would be costing $80 and $95
Hence,
Gross profit = $240 - ($80 + $95)
= $65
