The method used to calculate direct materials on the schedule of cost of goods manufactured is this: add purchases to beginning raw materials inventory and subtract <u>Cost of the </u><u>ending </u><u>raw materials. </u>
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<h3>How to calculate direct materials</h3>
The formula used to calculate direct materials on the schedule of cost of goods manufactured is this: Beginning raw materials + Purchases - Cost of the ending raw materials.
This figure is important because it can be used to calculate the total manufacturing cost incurred during production.
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The way that the market supply curve is derived from the supply curves of individual producers is by horizontally adding the individual supply curves.
<h3>How is the market supply curve estimated?</h3>
The market supply curve is estimated by adding up all the individual supply curves in the market. This therefore shows the total amount os supply for a good or service in the market.
The way that this addition is done is by horizontally adding the supply curves. What this means is that the quantities that are being offered by each individual suppliers at the various prices in the market, are added up to come up with the market supply curve.
Options for this question are:
- a. finding the average price at which sellers are willing and able to sell a particular quantity of the good.
- b. vertically summing individual supply curves.
- c. finding the average quantity supplied by sellers at each possible price.
- d. horizontally summing individual supply curves.
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Answer:
The answer is 54percent
Explanation:
Elasticity is a measure of how sensitive one variable is to any variable. It is expressed as the ratio of percentage changes in variables.
That is; %change in quantity demanded/%change in price.
This calculation shows how sensitive quantity demanded is to a change in price.
In the question, price elasticity of demand is 1.8
30 percent decrease in price
Therefore, the quantity demanded will increase by 30percent x 1.8
=54percent
Answer: Limited Liability
Explanation: Business owners' liability for debts is restricted to the amount they put into the business.
