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dezoksy [38]
3 years ago
15

How did you identify your customers?

Business
1 answer:
solong [7]3 years ago
6 0
Customers may be grouped by similar variables, such as age, gender, occupation, education, income levels, geographic location, industry, number of employees, number of years in business, products or services offered or other defined criteria.
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Suppose that a firm operating in perfectly competitive market sells 200 units of output at a price of $3 each. Which of the foll
miv72 [106K]

Answer:

The correct answer is option i.

Explanation:

A firm is operating in a perfectly competitive market.  

The firm is selling 200 units of output.  

The price of each unit of output is $3.  

In a perfectly competitive market, a single firm faces a horizontal line demand curve. This horizontal line represents demand, price line, average revenue, and marginal revenue.  

So if the price is $3, it implies that the marginal revenue and average revenue is also equal to $3.  

The total revenue is $600.

4 0
3 years ago
Where is market equilibrium located
Lina20 [59]

Answer:

B. at the intersection of supply and demand

Explanation:

Equilibrium is a market condition where there no excess or shortage in demand and supply. It is when the quantity demanded matches the quantity supplied. At equilibrium, buyers and sellers are happy with the prevailing prices.

In a graph showing the demand and supply curve, the equilibrium point is the intersection of the supply and demand curve.  

8 0
2 years ago
A(n) ________ breach of a contract occurs when a party renders inferior performance of his or her contractual obligations.
DanielleElmas [232]
The answer to this question is a material breach. A material breach is a breach of contract where in the other party failed to provide or perform what is needed in the contract. This also shows that the contract can no longer be completed.
6 0
3 years ago
In December, a company signed a contract with a regular customer to sell products for $100,000. In January, the company received
REY [17]

Answer: In January, when the products are delivered.

6 0
1 year ago
Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the fi
valentina_108 [34]

Answer:

a.Income Statement using variable costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($1,338,240)      ($1,672,800)

Opening Stock                                     <em>        $0         </em>      <em> $334,560</em>

Add Cost of Goods Manufactured      <em>$1,672,800 </em>      <em>$1,338,240</em>

Less Closing Stock                              <em> ($334,560) </em>         <em>     $0</em>

Contribution                                        $6,533,760       $8,167,200

Less Expenses :

Fixed manufacturing costs                ($3,075,000)     ($3,075,000)

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                               $2,095,840       $3,509,800

b.Income Statement using  absorption costing

                                                                     2016                 2017

Sales                                                     $7,872,000      $9,840,000

Less Cost of Sales                              ($3,798,240)      ($5,362,800)

Opening Stock                                     <em>        $0         </em>      <em> $949,560</em>

Add Cost of Goods Manufactured      <em>$4,747,800 </em>      <em>$4,413,240</em>

Less Closing Stock                              <em> ($949,560) </em>         <em>     $0</em>

Gross Profit                                           $4,073,760          $4,477,200

Less Expenses :

Selling Expenses : Variable                  ($862,920)      ($1,082,400)

Selling Expenses : Fixed                       ($500,000)       ($500,000)

Net Income / (loss)                                 $2,710,840       $2,894,800

c. Reconciliation of Absorption costing Net Income to variable costing profit

                                                                                   2016                      2017

Absorption Costing Net Income                           $2,710,840       $2,894,800

Fixed Manufacturing  Cost in Opening Stock             $0                $615,000

Fixed Manufacturing Cost in Closing Stock         ($615,000)               $0

Variable Costing Net Income                               $2,095,840       $3,509,800

Explanation:

Part a.

Under Variable Costing, Only Variable Manufacturing Costs are treated as Product costs. Fixed Manufacturing costs and All Non-Manufacturing Costs are treated as period costs.

Part b

Under Absorption Costing, Both Variable Manufacturing Costs  and  Fixed Manufacturing costs are treated as Product costs. All Non-Manufacturing Costs are treated as period costs.

Part c.

The difference between the Net Income under Absorption Costing and Variable Costing is due to Fixed Manufacturing Costs that are deferred in Inventory. This needs to be reconciled accordingly.

5 0
3 years ago
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