Match the action needed to increase profits with the reason a business might fail.

Cassie's Quilts alters, reconstructs, and restores heirloom quilts. Cassie has just spent $800 purchasing, cleaning, and reco

eduard

Answer:

The marginal cost is $200 that she needs to complete the task.

Explanation:

Giving the following information:

Cassie has just spent $800 purchasing, cleaning, and reconstructing an antique quilt which she expects to sell for $1,500 once she is finished. After having spent $800, Cassie discovers that she would need some special period fabric that would cost her $200 in material and time to complete the task. Alternatively, she can sell the quilt "as is" now for $900.

The $800 is a sunk cost. Now we need to determine the marginal cost. The marginal cost is $200 that she needs to complete the task.

6 0

4 years ago

Tercer reports the following for one of its products. Direct materials standard (4 lbs. $2 per lb.) Actual direct materials used

Natalka [10]

Answer:

Results are below.

Explanation:

Giving the following information:

Direct materials standard (4 lbs. $2 per lb.)= $8 per finished unit

Actual direct materials used (AQ)= 300,000

Actual finished units produced= 60,000

Actual cost of direct materials used= $535,000

<u>To calculate the direct material price and quantity variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (2 - 1.783)*300,000

Direct material price variance= $65,100 favorable

Actual price= 535,000 / 300,000= $1.783

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (4*60,000 - 300,000)*2

Direct material quantity variance= $120,000 unfavorable

6 0

3 years ago

Although a sales representative may skip a step in the personal selling process or might sometimes have to go back and repeat st

Verdich [7]

Answer: c. closing the sale is the final—and most satisfying—part of the process.

Explanation:

Closing the sale is NOT the final part of the process but rather the FOLLOW-UP.

And like option e in the question shows, following up can lead to more sales for the representative because following up can guage customer satisfaction and if the customer is satisfied, they could become loyal and recurrent customers.

5 0

4 years ago

Stephen runs a pet salon. He is currently grooming 130130 dogs per week. If instead of grooming 130130 dogs, he grooms 131131

borishaifa [10]

Answer:

Profit will increase by $2.3

Explanation:

Data provided in the question:

If instead of grooming 130130 dogs, he grooms 131131 dogs

Marginal cost = $65.82

Marginal revenue = $68.12

Now,

The effect on his profits of grooming 131 dogs instead of 130 dogs will be:

Change in profit = Marginal revenue - Marginal cost

or

Change in profit = $68.12 - $65.82

or

Change in profit = $2.3

Hence,

Profit will increase by $2.3

7 0

3 years ago

Total assets of Charter Company equal $700,000 and its equity is $420,000. What is the amount of its liabilities? b. Total asset

guajiro [1.7K]

Answer:

a. Total liabilities = $280,000

b. Total liabilities = $250,000

Total equity -= $250,000

Explanation:

As we know that

Total assets = Total liabilities + shareholder equity

So in the first case

The amount of the liabilities is

Total liabilities = Total assets - Total equity

= $700,000 - $420,000

= $280,000

And, in the second case, the total assets is $500,000

And, the liabilities and equity amounts are equal to each other

So in this case, the liabilities is $250,000 and the equity is $250,000

3 0

3 years ago