Answer:
$3
Explanation:
The computation of the equivalent cost per unit for materials using the FIFO method is shown below:
= Materials cost ÷ equivalent units in materials
= $36,000 ÷ 12,000 units
= $3
hence, the equivalent cost per unit for materials using the FIFO method is $3
Answer:
-How much money do you need?
-How much income do you make?
-How much debt do you have?
Explanation:
The top three questions that I would ask prospective borrowers are:
-How much money do you need?
This question allows the lender to know the amount of money the borrower requires and this is crucial to make an evaluation with the income and debts to determine if the lender would approve the loan. For example, a borrower may need an amount that he can easily pay back with his salary.
-How much income do you make?
This question is important to the lender because it allows to find out if the borrower's income would allow him/her to make the monthly payments which decreases the risk.
-How much debt do you have?
It is important to know the amount of debt the borrower has because the higher amount of debt he/she has, it would be harder to pay the loan and evaluating this allows to decrease the risk of the borrower not paying back.
Answer:
Explanation:
First scenario: The answer is No, not many sellers. The drug of the pharmaceutical company has patent right and it is the only firm selling this product. This makes the company a monopolist (single seller)
Second scenario: No, not an identical product. Cable company and phone company produce different products. Cable companies majorly deal with television access.
Third Scenario: no, not many sellers. One firm is dominating the market and customers prefers this. Its product has been differentiated and it can charge its own price.
Fourth scenario: yes,meets all assumptions. The socks are identical and consumers do not care about the seller because the same utility will be derived from the socks.
Biology/living enviornment, chemistry etc
Answer:
IV
YES
Explanation:
Accounting profit= total revenue - explicit cost
Total revenue =price x quantity sold
Explicit cost includes the amount expended in running the business.
They include rent , salary and cost of raw materials
Economic profit = accounting profit - implicit cost
Implicit cost is the cost of the next best option forgone when one alternative is chosen over other alternatives
economic profit includes the opportunity cost of funds
In some industries, only normal profit is earned in the short run. For example, in a perfect competition and monopolistic competition, only normal profit is earned in the long run due to free entry and exit of firms in the industry. thus if only normal profit would be earned, the company should still go ahead and establish