The answer to the blank space is data.
The contents of the spreadsheet are the annual record of airfares to different cities from Chicago. This is what we call data – which are facts or statistics collected together for reference or analysis. Since Silway Travels plans to use the annual record information to contrast airfares during peak and off-season, it is clear that the data in this case would be used for analysis.
Answer:
Income under absorption costing = $1,100,000
Explanation:
Marginal and absorption costing are two different methods to deal with fixed production overheads and and decide whether or not they are included in valuation of inventory.
<u>Valuation of inventory</u>
Opening and closing inventory are valued at variable cost under variable costing. Whereas in absorption costing, opening and closing inventory are valued at full production cost (including fixed production overheads).
<u>Reconciling profits reported under two different methods</u>
When inventory levels increase or decrease during a period then profits will differ under absorption and marginal costing because of fixed production cost.
Net Income under absorption costing = Income under variable costing + fixed production cost in ending inventory – fixed production cost in beginning inventory
= $1,050,000 + $300,000 - $250,000
= $1,100,000
Answer:
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Answer:
c. $1,800
Explanation:
Economic cost calculates what is gained or lost when a particular activity is chosen over another activity.
It incorporates the opportunity cost of taking a particular activity into its calculation of cost.
The economic cost of Debbie taking the picture of her niece is :
$4000 - $2200 = $1800
I hope my answer helps you
The contradiction can be explained by the substitutability between Jimmy Choo shoes and other shoes.
Substitutability is the ability of goods or services to be replaced by another good or services to be replaced by another good or service in use or consumption. Substitute goods are goods which, as a result of changed conditions, may replace each other in use. For example in this case, jimmy choo faces other competitors who have substitute shoes.
