Answer:
Explanation:
Recession- a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
depression- a overwhelming feeling of despair that often leads to sui.ci.al thought or su.ic.ide .
expansion- the action of becoming larger or more extensive.
<span>a.price floor
Where the government fixes the minimum retail price</span>
Answer:
$4,500
Explanation:
Sales to reach target profit = (Fixed Cost + Target Profit) ÷ Contribution Margin Ratio
where,
Contribution Margin Ratio = Contribution ÷ Sales
= ($2,400 - $960) ÷ $2,400
= 0.60
therefore,
Sales to reach target profit = ($900 + $1,800) ÷ 0.60
= $4,500
Conclusion
You need $4,500 to meet this profit target
Answer:
The correct answer is letter "C": product costs include sales and administrative expenses.
Explanation:
Product costs are directly related to the manufacturing of a product. Product costs include direct labor, direct materials, factory overhead, and production supplies. After the products are finished but not yet sold, product costs are recorded as part of the inventory.
<em>Sales and administrative expenses are not tied directly to the production of a good, thus, they cannot be considered product costs.</em>