Answer: The price increase is about 6.17 percent.
Explanation:
The price elasticity of supply (PES) is the elasticity of the quantity supplied of a product to its price change. Price elasticity of supply is the ratio of the percentage change in the quantity supplied of a good or service to the percentage change in price.
The Price Elasticity of Supply is positive as a result of the law of supply that states that there's a direct relationship between the quantity supplied and price i.e. a price increase leads to an increase in quantity supplied and vice versa.
To solve the question,
PES = 0.6
% change in quantity supplied = 3.7
% change in price = Unknown
Let percentage change in price be denoted by b.
PES = % change in quantity demanded / % change in price
0.6 = 3.7 / b
Cross multiplying,
b = 3.7 / 0.6
b = 6.17
Recall that b is the percentage change on price.
Therefore, the percentage change in price is 6.17.
Answer:
D. Debit Accounts Receivable $7,344; credit Interest Revenue $144; credit Notes Receivable $7,200.
Explanation:
Interest: $7,200 × .06 × 120/360 = $144
The entry that Majesty should record on the maturity date for this dishonored note is :
Debit Accounts Receivable $7,344
Credit Interest Revenue $144
Credit Notes Receivable $7,200.
Answer:
Here are several organization involvements that exist in international trades but might not exist in domestic trade:
- Import/export
- Countertrade Agreement
- Foreign Direct investment
- Multinational marketing strategy
Explanation:
- Import/export
To put it simply, Import is the act of acquiring goods from another country to your country. Export is the act of sending goods from your country to another country,
- Countertrade Agreement
This consist of tradge agreements that created by the government between different countries.
Most countries will impose tariff or quota to the foreign goods that come into their country. This will increase the price of the foreign goods when they entered the local markets. Tariff and quota are made to protect local businesses from foreign businesses.
- Global outsourcing
This happens when a company give their job to the people from another country.
Most commonly, this is conducted by companies from a richer countries. Outsourcing their jobs to a poorer country tend to cut down the labor cost. They can send the product output back to their original country and sell it with higher price/.
- Multinational marketing strategy
This marketing strategy considers the different cultures / taste that exist in foreign market. They will cater their strategy to suit the taste of foreign customers and improve their brand favorability.
Answer: a).
Currently attainable standards can be achieved under efficient operating conditions.
Explanation: currently attainable standards are standards which have been found to be achievable considering the current prevailing circumstances,this standards re usually set up for use in the short term it is not expected be achievable during the long term.
Currently achievable standards are always difficult to achieve but if resources are efficiently managed/ used it will be achieved. Currently achievable standards are usually set to evaluate performance especially in cost,time and materials management.
Answer:
The company's plantwide overhead rate on a per machine hour basis is $5 per hour.
Explanation:
Acording to the data, we have the following:
Direct Labour Cost=$200,000
Direct Labour Hours= 16,000
Total Overhead Cost= $25,000
Machine Hours= 5,000
Therefore, to calcuate the company's plantwide overhead rate on a per machine hour basis, we use the following formula:
Company's plantwide overhead rate= Total Overhead/ Machine hours
= $ 25,000 / 5000 hours
=$5 per hour
