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3 years ago

Which of the following term describes what a manufacturer spends for goods or services? A. cost B. price C. markup

1 answer:

7 0

The term that describes what a manufacturer spends for goods or services is called the 'cost.' When the manufacturer sells it to the consumer, this is called the price, and it is more often times than not, marked up in price.

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A firm conducted a market analysis and determined that a new wo

forsale [732]

The answer is A the firm should increase output!!!!

4 0

3 years ago

John Williams, manager of Phoenix Entertainment, wants to compute the variable overhead efficiency variance for the year. He has

Georgia [21]

Answer:

2nd option is correct.

Explanation:

Variable over head = (Actual Qty. - Standard Qty. ) * Standard cost

Efficiency variance

= (10125-9000) * 30

= $ 33750 (Un-Favorable)

2nd option is correct.

Variance is unfavorable because actual quantity used to produce is more than budgeted quantity allowed at that level of production.

6 0

3 years ago

Explain why the monopsonist's marginal-revenue-product curve is downward sloping. Include the role of the price for the final go

alekssr [168]

Answer:

A monopsony is market where there is only one buyer, e.g. the government is the sole buyer for nuclear submarines in the US.

The demand curve of a monopsony is similar to the demand curve of any other type of market, i.e. it is downward sloping. Since there is only 1 buyer, the demand curve is also the supply curve. If the monopsonist wants to increase the quantity demanded at a lower price, the supplier (or suppliers) must be able to lower its costs and that generally results in lower labor costs.

3 0

3 years ago

Suppose you are eating buffalo wings at a local happy hour. The total utils from doing so after the fourth, fifth, sixth, and se

Rufina [12.5K]

Answer:

diminishing ; assumed

Explanation:

Given:

total utils from doing so after

the fourth, fifth, sixth, and seventh wings are 30, 50, 65, 72

Now,

marginal utility from fifth = total utility from fifth - total utility from fourth

= 50 - 30

= 20 utils.

marginal utility from sixth = total utility from sixth - total utility from fifth

= 65 - 50

= 15 utils.

marginal utility from seventh = total utility from - total utility from sixth

= 72 - 65

= 7 utils.

Here,

the marginal utility is diminishing i.e from 20 to 15 and from 15 to 7 utils

also,

it is assumed that the marginal utility will decrease when we analyse the consumer utility because the consumers gets satisfied and thus, the increase in satisfaction leads to the decrease in utility

hence, the answer is diminishing ; assumed

4 0

4 years ago

Donna Crawford Co. has identified an activity cost pool to which it has allocated estimated overhead of $1,920,000. It has deter

ehidna [41]

Answer:

$480,000; $360,000; $1,080,000

Explanation:

Given that,

Allocated estimated overhead = $1,920,000

Expected use of cost drivers = 160,000 inspections

Widgets require = 40,000 inspections

Gadgets require = 30,000 inspections

Targets requires = 90,000 inspections

Overhead rate per activity:

= Total overhead ÷ Expected use of cost drivers

= $1,920,000 ÷ 160,000

= $12

Overhead assigned to Widgets:

= Overhead rate per activity × No. of inspections widgets require

= $12 × 40,000

= $480,000

Overhead assigned to Gadgets:

= Overhead rate per activity × No. of inspections gadgets require

= $12 × 30,000

= $360,000

Overhead assigned to Targets:

= Overhead rate per activity × No. of inspections targets require

= $12 × 90,000

= $1,080,000

7 0

3 years ago