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2 years ago

Which of the following has inelastic demand: O Movie tickets Ice cream O Televisions Bread

Business

1 answer:

Svet_ta [14]2 years ago

6 0

Answer:

Bread

Explanation:

Inelastic demand tends to remain relatively stable despite price changes. Inelastic demand is a stable demand, or demand that is not stretching. Foodstuffs and essential goods tend to have constant demand regardless of changes in prices. People have to consume these goods no matter their costs.

Bread is foodstuff. People must eat to survive. The demand for bread and other foods stuff will remain relatively constant despite changes in prices.

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On June 15, Oakley Inc. sells inventory on account to Sunglass Hut (SH) for $4,500, terms 4/10, n/30. On June 20, SH returns to

Georgia [21]

Answer: $3360

Explanation:

Based on the information given in the question, the amount of cash paid by SH to Oakley will be calculated as thus:

SH will be entitled to a discount of 4% since the payment was made within the discount period, therefore, the discount that is applicable will be:

= $4500 - $1000

= $3,500

Therefore, the amount of cash payment that is made by SH to Oakley will be:

= $3,500 - (4% × $3,500)

= $3500 - (0.04 × $3500)

= $3500 - $140

= $3360

Therefore, the amount of cash paid by SH to Oakley is $3360.

7 0

2 years ago

Krepps Corporation produces a single product. Last year, Krepps manufactured 33,100 units and sold 27,800 units. Production cost

AfilCa [17]

Answer:

The correct answer is $95,400 lower than absorption costing.

Explanation:

According to the scenario, the given data are as follows:

Units manufactured = 33,100

Sold units = 27,800

So, Units in ending inventory can be calculated as follows:

Units in ending inventory = Units manufactured - Sold units

= 33,100 - 27,800 = 5,300 units

Now, Fixed manufacturing OH = $595,800

So, we can calculate the fixed manufacturing OH per unit by using following formula:

Fixed manufacturing OH per unit = $595,800 ÷ 33,100 = $18

So, Difference in net income for the year can be calculated as follows:

Net income difference = Fixed manufacturing OH per unit × Units in ending inventory

= $18 × 5,300 units = $95,400

Hence, The net income in variable costing is $95,400 which is lower than in absorption costing.

7 0

3 years ago

Tom rented an apartment from margaret on a month-to-month basis, with rent due on the first of the month. this type of tenancy i

Alborosie

False.

This is a periodic tenancy because Tom, as the tenant, may rent the apartment for successive periods under his lease, despite being "month-to-month." A tenancy at will, however, allows either the landlord or the tenant to terminate the arrangement at any time because there is more flexibility in the arrangement.

One key difference is the issue of the tenant's notice to vacate the apartment. Under periodic tenancy, the law typically requires the tenant to give at least one period (here, one month) notice to the landlord of the tenant's wish to leave the property. No such notice requirement is typically found within a tenancy at will.

3 0

3 years ago

An agreement to purchase goods and services with a specified percentage of proceeds from an original sale in that country from a

gizmo_the_mogwai [7]

Answer:

B)an offset.

Explanation:

4 0

3 years ago

what is the effect on the financial statements when adjust the prepaid insurance account at year-end for insurance coverage whic

yan [13]

Answer:

When prepaid insurance (or any other prepaid expense) is adjusted at year end in order to record accrued expenses, financial statements are affected in the following way:

income statement: costs increase, decreasing profits
balance sheet: assets and equity decrease
cash flow statement: cash from operating activities increases
owners' equity: decreases

5 0

2 years ago

Which of the following has inelastic demand: O Movie tickets Ice cream O Televisions Bread​

Which of the following has inelastic demand: O Movie tickets Ice cream O Televisions Bread