All categories

3 years ago

Because supply curves slope upward, this supports the law of supply that as prices __________, more goods will be supplied.

Business

1 answer:

antoniya [11.8K]3 years ago

3 0

Answer: increase

Explanation:

The supply curves slope upward due to the fact that there's a direct relationship between the price of the good and the quantity that's supplied.

This means that when price increase let's say the price of a good moves from $5 to $7, the suppliers will supply more due to the price increase.

You might be interested in

A country reported nominal GDP of $200 billion in 2010 and $180 billion in 2009. It also reported a GDP deflator of 125 in 2010

QveST [7]

Answer:

19%

Explanation:

Given that,

Nominal GDP in 2010 = $200 billion

Nominal GDP in 2009 = $180 billion

GDP deflator in 2010 = 125

GDP deflator in 2009 = 105

Percentage change in prices:

= Percentage change in GDP deflator

= (Change in GDP deflator ÷ GDP deflator in 2009) × 100

= [(125 - 105) ÷ 105] × 100

= (20 ÷ 105) × 100

= 0.19 × 100

= 19%

Therefore, the prices increases by 19%.

6 0

3 years ago

Alex, a 25-year-old banker, joined his friends at a "pub-hopping" trip that had participants visiting six bars in a two-hour spa

Mrac [35]

Answer:

Yes because Janine cannot void the contract

7 0

2 years ago

Bavarian Chocolate Company processes chocolate into candy bars. The process begins by placing direct materials (raw chocolate, m

DanielleElmas [232]

Answer:

Bavarian Chocolate Company

Blending Department

1. Cost of Production Report:

Cost of production: Materials Conversion Total

Beginning WIP $37,950 $8,418 $46,368

Direct materials, 26,000 units 429,000 149,040 578,040

Total cost or production $466,950 $157,458 $624,408

(See the workings of this report below.)

2. Change in direct materials cost per equivalent unit

Increase or Decrease

Materials Conversion

September $16.50 $6.005

October $16.51 $5.99

Amount $0.01 $0.015

Increase Decrease

Explanation:

a) Data and Calculations:

partial work in process account of the Blending Department at October 31, 2014:

Date Item Debit Credit Balance

Oct.1 Bal., 2,300 units, 3/5 completed 46,368

31 Direct materials, 26,000 units 429,000 475,368

31 Direct labor 100,560 575,928

31 Factory overhead 48,480 624,408

31 Goods transferred, 25,700 units 578,378 46,030

31 Bal., 2,600 units, 1/5 completed 46,030

Ending units in process:

Beginning units in process 2,300

Direct materials 26,000

Units available for production 28,300

Units transferred out 25,700

Ending units in process 2,600

Equivalent units of production: Materials Conversion

Units started and completed = 25,700 25,700 25,700

Ending WIP 2,600 2,600 520 (1/5 * 2,600)

Equivalent units produced 28,300 26,220

Cost per unit of direct materials = $429,000/26,000 = $16.50

Cost of production: Materials Conversion Total

Beginning WIP $37,950 $8,418 $46,368

Direct materials, 26,000 units 429,000 149,040 578,040

Total cost or production $466,950 $157,458 $624,408

Cost per equivalent unit: Materials Conversion

Total cost or production $466,950 $157,458

Equivalent units produced 28,300 26,220

Cost per equivalent unit $16.50 $6.005

Assignment of cost to units completed and ending WIP:

Materials Conversion Total

Units transferred out (25,700) $424,050 $154,328 $578,378

Ending WIP (2,600/520) 42,900 3,130 46,030

Total $466,950 $157,458 $624,408

2. Assuming that the October 1 work in process inventory includes direct materials of $38,295, determine the increase or decrease in the cost per equivalent unit for direct materials and conversion between September and October.

Cost of production: Materials Conversion Total

Beginning WIP $38,295 $8,073 $46,368

Direct materials, 26,000 units 429,000 149,040 578,040

Total cost or production $467,295 $157,113 $624,408

Cost per equivalent unit: Materials Conversion

Total cost or production $467,295 $157,113

Equivalent units produced 28,300 26,220

Cost per equivalent unit $16.51 $5.99

Assignment of cost to units completed and ending WIP:

Materials Conversion Total

Units transferred out (25,700) $424,307 $153,943 $578,250

Ending WIP (2,600/520) 42,926 3,115 46,041

Total $467,233 $157,058 $624,291

5 0

2 years ago

Use the price of apples and oranges to calculate a price index called the Apple and Oranges Price Index (AOPI). Apples cost $0.5

Olegator [25]

Answer:

2009 AOPI is 125

Explanation:

The question is to determine the Apples and Oranges Price Index (AOPI) for 2009 with 2002 as the base year

First step: For the base year 2002, the goods were bundled as 10 apples and 5 oranges

Therefore, we calculate the cost of these two in 2002 as follows

= 10 apples x $0.5 + 5 oranges x $1 = $10

Second step: For the 2009, the goods were 5 apples and 10 oranges however, since we are using 2002 as the base year, we will calculate the cost of this same 10 aples and 5 oranges using the 2009 value.

= 10 apples x $1 + 5 oranges x $0.25

= $12.5

Step 3: Based on these calculations with 2002 as the base year

The consumer price index = (12.5/10) x 100

The AOPI (Apple and Oranges Price Index) for 2009 assuming that of 2002 is 100 will be 125

6 0

2 years ago

Sanders Inc. has applied $567,988 of overhead to jobs in the cost ledger. Actual overhead at the end of the year is $575,000. Th

lesya692 [45]

Answer:

option (c) $7,012 underapplied, increase Cost of Goods

Explanation:

Data provided in the problem:

Applied overhead to the job = $ 567,988

Actual overhead at the end of the year = $ 575,000

Since the actual overhead at the end of the year is more than the overhead applied.

thus, the overhead is underapplied i.e less than the required.

Now, the amount of underapplied overhead is calculated as

= actual overhead - applied overhead

= $ 575,000 - $ 567,988 = $ 7012

also, the underapplied overhead will lead to the increase in the cost of the goods.

Hence,

the correct answer is option (c) $7,012 underapplied, increase Cost of Goods

7 0

3 years ago