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3 years ago

Which of the following is not a determinant of a consumer's demand for a commodity?

Business

1 answer:

uranmaximum [27]3 years ago

5 0

Answer:

Law of Diminishing Marginal Utility

Explanation:

Demand refers to the volume of a product or service consumers are willing to buy at a given price over time. Demand is high when customers are willing to buy more of a product. Several factors influence the demand levels of a product. They include

Consumers preferences and tastes
consumers income
prices of related goods
consumer expectation on future prices
number of consumers in the market
Income distribution

The law of diminishing marginal returns associates the utility derived from an additional input while holding other factors constant. The law claims that the marginal utility of an input declines as its supply increases. It does not influence the demand for a product in any way.

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During December, Far West Services makes a $4,200 credit sale. The state sales tax rate is 6% and the local sales tax rate is 2.

Lina20 [59]

Answer

Debit Accounts receivable $4,200

Credit Revenue account $3,870.97

Credit State Sales tax payable $232.26

Credit local Sales tax payable $96.77

Explanation:

When revenue is earned but cash is yet to be received and sales tax are to be accounted for at 8.5%, the entries required are;

Debit Accounts receivable 108.5%

Credit Revenue account 100%

Credit Sales tax payable 8.5%

Given that the sales tax amount is in addition to the credit sale amount, let the sales revenue be R

6% * R + 2.5% * R + R = $4,200

1.085R = $4200

R = $3870.97

States tax = 6% * $3870.97

=$232.26

Local tax = 2.5% * $3870.97

= $96.77

5 0

3 years ago

When job 117 was completed, direct materials totaled $4,400; direct labor, $5,600; and factory overhead, $2,400. a total of 1,00

Viefleur [7K]

To solve: add up all in the labor costs and then divide by the number of units produced to get the per unit cost of the labor.

<span>Direct materials = $4,400
Direct labor = $5,600
Factory overhead = $2,400
Units produced = 1,000

Per unit cost = ($4,400 + $5,600 + $2,400)/1,000
Per unit cost = $12,400/1,000
Per unit cost = $12.40</span>

4 0

3 years ago

So, I’ve decided to leave Brainly. I had a great time helping people, so I hope you have a great day. :) use this time to miss m

liberstina [14]

Answer:

why now when people still need help alot of help

Explanation:

6 0

3 years ago

Read 2 more answers

A disadvantage of adding a salad bar to a school lunch menu would be ?

bearhunter [10]

The cost of adding more options. Supply and demand: would the students want to have salad for lunch, or would it go to waste?

5 0

3 years ago

Read 2 more answers

Monette Corporation has found that 70% of its sales in any given month are credit sales, while the remainder are cash sales. Of

hoa [83]

Answer and Explanation:

The preparation of cash collection budget is shown below:-

Cash Collection Budget

For the month of January through March

January February March Quarter

Cash sales $43,500 $37,500 $58,500 $139,500

Collection on Credit sales

20% month of sale $20,300 $17,500 $27,300 $65,100

40% month after $33,600 $40,600 $35,000 $109,200

24% two months after $17,640 $20,160 $24,360 $62,160

Total Cash collection $115,040 $115,760 $145,160 $375,960

Working Note 1

November December January February March

Total Sales $105,000 $120,000 $145,000 $125,000 $195,000

Cash sales $31,500 $36,000 $43,500 $37,500 $58,500

Credit sales $73,500 $84,000 $101,500 $87,500 $136,500

Credit sales is 70% of Total sales every month

Cash Sales is 30% of Total sales every month

Working Note 2

January February March Quarter

Cash sales $43,500 $37,500 $58,500 $139,500

Cash collection from credit sales of

November $17,640 $17,640

December $33,600 $20,160 $53,760

January $20,300 $40,600 $24,360 $85,260

February $17,500 $35,000 $52,500

March $27,300 $27,300

Total collections $115,040 $115,760 $145,160 $375,960

6 0

3 years ago