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2 years ago

What factors under the control of owners and managers make a firm successful and allow it to earn economic profits?

Business

1 answer:

mafiozo [28]2 years ago

8 0

Answer: E. The firm's ability to differentiate its product

Explanation:

The factor under the control of owners and managers that make a firm successful and allow it to earn economic profits is the firm's ability to differentiate its product.

Product Differentiation has to do with making a product unique from that of its rivals so that it'll be attractive to the customers and the target market. This will slow be vital for the company to produce at a average cost that is lower than that of its competing firms. This will help the company to have a competitive edge over others.

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Journalize the following transactions for Reed Company. Assume a perpetual inventory system. Also, assume a constant gross profi

igor_vitrenko [27]

Answer:

The Journal entries are as follows:

(i) On April 6,

Cash A/c Dr. $5,000

To Sales $5,000

(To record the cash sales )

(ii) On April 6,

Cost of goods sold A/c Dr. $3,000

To merchandise inventory $3,000

(To record the cost of goods sold)

(iii) On April 12,

Sales return and Allowances A/c Dr. $630

To cash $630

(To record the sales return)

(iv) On April 12,

merchandise inventory A/c[(630 ÷ 5,000) × 3,000] Dr. $378

To cost of goods sold $378

(To record the cost of sales return and allowances

4 0

3 years ago

Zanny Electronics Corporation uses a standard cost system for the production of its water ski radios. The direct labor standard

AlexFokin [52]

Answer:

Labor Rate Variance = - $1,188 Unfavorable

Explanation:

Provided labor hours for each radio = 0.9

Standard labor cost per hour = $7.20

Actual labor cost = $48,708

Actual labor hours = 6,600

Actual labor rate = $48,708/6,600 = $7.38

Labor Rate Variance = (Standard Rate - Actual Rate) $\times$ Actual Hours

= ($7.20 - $7.38) $\times$ 6,600 =<em><u> - $1,188 Unfavorable</u></em>

6 0

3 years ago

Glaston Company manufactures a single product using a JIT inventory system. The production budget indicates that the number of u

Travka [436]

Answer:

Budgeted overhead= $283,400

Explanation:

Giving the following information:

Production:

October= 192,000

variable overhead is applied at a rate of $0.70 per unit of production.

Fixed overhead equals $149,000 per month.

To calculate the budgeted overhead, we need to determine the total variable overhead for the month:

Budgeted overhead= fixed overhead + total variable overhead

Budgeted overhead= 149,000 + 0.7*192,000

Budgeted overhead= $283,400

6 0

3 years ago

1. What age group represents the highest percentage of taxpayers in 2016?

Salsk061 [2.6K]

Out of the roughly 142 million filers, people under the age of 35 account for 35 percent of all returns but just 17 percent of total AGI. By far, the largest number of filers are between the ages of 35 and 55, and they account for nearly half of total AGI

8 0

3 years ago

Suppose your expenses for this term are as follows: tuition: $28,000, room and board: $9,000, books and other educational su

dsp73

Answer:

$ 56,500

Explanation:

Given:

Tuition expenses = $ 28,000

Room and board expenses = $ 2,500

Earning from the part time = $ 16,000

Fulltime salary = $ 42,000

Now,

the opportunity cost is given as:

= Full time working salary + (sum of expenses) - Earnings

on substituting the values, we get

opportunity cost = $ 42,000 + ( $ 28,000 + $ 2,500 ) - $ 16,000

opportunity cost = $ 56,500

4 0

3 years ago

What factors under the control of owners and managers make a firm successful and allow it to earn economic​ profits?

What factors under the control of owners and managers make a firm successful and allow it to earn economic profits?