Answer:
creates a shortage
Explanation:
Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.
Because price is set below equilibrium price, demand would outstrip supply and this would lead to a shortage
Effects of a price ceiling
1. It leads to shortages
2. it leads to the development of black markets
3. it prevents producers from raising price beyond a certain price
4. It lowers the price consumers pay for a product. This increases consumer surplus
Answer:
Implementation of Idea (DO)
Explanation:
According to PDCA the first phase is the planning and the next one is doing that what we have planned. The third one is Check which means continuously monitoring the execution of the plan. And the last one is Act which means that the control must be emphasized on the execution to correct the discrepancies found.
The Company has completed the first phase and is recommended to complete the second one which is that the company must do whatever it has planned for the better future of company.
Answer: $54,000 per production run
Explanation:
As we are dealing with the decision of whether or not to process the good further, the irrelevant cost would be the cost of producing product B from input R.
This is because this cost has already been incurred to produce product B and so is a sunk cost. Sunk costs are irrelevant to the decision to process further.
30,000 units of B were made from 90,000 units R so the cost of B is:
= 30,000 / 50,000 * 90,000
= $54,000
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<em>The options here are probably for a variant of this question.</em>
Creation and execution of goals by the management team, defined by available resources and existing conditions in and out of the company.
A <u>finished Goods</u> account would most likely not appear in a job order cost system of a service business.
Finished Goods are products that are at a stage in the manufacturing process that is readily available to consumers. Businesses use formulas to calculate finished goods and products to create inventory percentages that determine the value of the goods sold.
The cost of the finished product includes all costs along the way and includes the three main components used in the production of the goods: direct labor, direct materials, and overhead costs. In addition, storage costs will be incurred when purchasing finished products.
Learn more about <u>finished Goods </u>here brainly.com/question/13767214
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