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3 years ago

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

Business

1 answer:

Svet_ta [14]3 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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Fifo reports higher gross profit and net income than the lifo method when

ddd [48]

FIFO (First in, First Out) reports higher gross profit and net income than the LIFO (Last In, First Out) method when prices are increasing. The FIFO method refers to an inventory system wherein the first items purchased are thought to be sold while the most recent purchases make up the ending inventory. On the other hand, the LIFO method assumes the opposite. The ones sold are the most recent purchases while the earlier purchases are included in the ending inventory.

4 0

3 years ago

A company had a beginning balance in retained earnings of $45,000. It had net income of $8,000 and paid out cash dividends of $6

myrzilka [38]

Answer:

The correct answer is: $46,875.

Explanation:

Retained Earnings are the portion of the company's net earnings that it does not payout to shareholders as dividends. The company keeps this money, reinvest it in the business, or uses it to pay out a portion of its debt. To see how much of its earnings a company has retained look at the Balance Sheet under shareholder's equity. Retained earnings are calculated using the following formula:

RE = BP + Net Income (or Loss) − C − S

Where:

RE = Retained Earnings

BP= Beginning Period RE

C = Cash dividends

S = Stock dividends

Then, in the example:

RE = $45,000 + $ 8,000 - $6,125

RE = $46,875

3 0

3 years ago

Morganton Company makes one product and it provided the following information to help prepare the master budget: The budgeted se

pishuonlain [190]

Answer:

Estimated cost of goods sold $ 3,964,800

Gross Margin $ 991,200

Explanation:

Estimated sales units and sales revenue

June 8,800 units

July 19,000 units

August 21,000 units

September 22,000 units

Total estimated sales 70,800 units

Sales price per unit $ 70

Total Sales Revenue $ 70 * 70,800 units = $ 4,956,000

Computation of cost of goods sold

Direct Material

5 pounds * 70,800 units * $ 2.40 per pound $ 849,600

Direct Labor

2 labor hours * 70,800 units * $ 12 per hour $ 1,699,200

Variable Manufacturing Overhead

$ 10 * 70,800 units * 2 labor hours $ 1,416,000

Cost of goods sold $3,964,800

Computation of gross margin

Sales Revenue $ 4,956,000

Cost of goods sold $ 3, 964,800

Gross Margin $ 991,200

3 0

3 years ago

One might infer from a debit balance in allowance for doubtful accounts that

shtirl [24]

Answer:

The answer is:

More accounts have been written off than had been estimated

Explanation:

Doubtful debt or bad debt is an expense. According to the rule of accounting, debit increases an expense while debit decreases an expense.

So the debit balance balance in allowance for doubtful accounts tells us that there is an increase in expense which means that more accounts(bad debt) have been written off.

So we can infer from the debit balance that more accounts have been written off than had been estimated

3 0

3 years ago

Is water wet or....?

amm1812

Answer:

water is a substance made up of two compound one is hydrogen and second is oxygen

the chemical formula for water is ( H2O )

Explanation:

hope it helps

5 0

3 years ago

Read 2 more answers

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