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Leto [7]
3 years ago
7

Describe the relationship between supply and demand in your own words

Business
1 answer:
Tanzania [10]3 years ago
5 0

Answer:

Supply: In economic terms, supply is the amount of resources or products that are provided by the company or an organization to the public or the targeted marketed. For example a toy making company would be providing toys to people with children, who are in need of toys.

Demand: It is an economic concept that states the need of a product or service. People or organizations have needs which are fulfilled by products and services. For example, the need for toys of people with children is known to be their demand which is then fulfilled by companies.

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Data concerning a recent period’s activity in the Prep Department, the first processing department in a company that uses proces
lys-0071 [83]

Answer and Explanation:

a. The computation of cost of ending work in process inventory for materials, conversion, and in total is shown below:-

For material = 2,080 × $15.66

= $32,572.80

For conversion = 930 × $6.23

= $5,793.90

For total cost of work in process inventory = $32,572.80 + $5,793.90

= $38,366.70

b. The computation of cost of the units completed and transferred out for materials, conversion, and in total is shown below:-

For material = 21,700 × $15.66

= $339,822

For Conversion = 21,700 × $6.23

= $135,191

For total cost of completed and transferred units = $339,822 + $135,191

= $475,013

3 0
4 years ago
Assume a purely competitive increasing-cost industry is initially in long-run equilibrium and that an increase in consumer deman
salantis [7]

Answer:

The correct answer is option B.

Explanation:

An increasing-cost industry is that kind of industry where the cost of production increases as new firms enter the industry. It generally happens as the industry expands, the cost of inputs increases, because the input demand is increasing as well.  

An increasing cost industry has an upward sloping long-run supply curve. So when the demand increases, the new demand curve will intersect the upward sloping demand curve at a higher point. This will cause both the product price as well as the output level to increase.

3 0
3 years ago
The theory of purchasing power parity assumes that.
Maurinko [17]

PPP is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

<h3 /><h3>What is purchasing power parity?</h3>

Purchasing power parity (PPP) is a method of comparing the absolute purchasing power of currencies and, to some extent, the living standards of people in different countries.

It uses the prices of specific goods to compare the absolute purchasing power of currencies and, to some extent, the living standards of their people.

Therefore the above statement explains the purchasing power parity.

Learn more about purchasing power parity here:

brainly.com/question/2286004

#SPJ1

5 0
3 years ago
During 2020, Bayside Inc. has 9% cumulative non-participating preferred stocks with a total par value of $300,000 and common sto
Lapatulllka [165]

Answer:

Date - December 14, 2020

Debit  : Dividend $16,000

Credit : Shareholders for dividends $16,000

Date - January 16, 2021

Debit : Shareholders for dividends $16,000

Credit : Cash $16,000

Date - December 12, 2021

Debit  : Dividend $62,000

Credit : Shareholders for dividends $62,000

January 15, 2022

Debit : Shareholders for dividends $62,000

Credit : Cash $62,000

Explanation:

Dividends are initially declared before they are paid to the respective shareholders. So it is important to first record the journal at the <em>declaration date</em> of the dividend, then the <em>payment date</em> of the dividend as shown above.

7 0
3 years ago
Global Inc. Has a preferred share issue outstanding with a current price of $26.80. The firm is expected to pay a dividend of $1
kondor19780726 [428]

Answer:

7.09 %

Explanation:

Cost of preferred equity = Dividend  / Market Price x 100

therefore,

Cost of preferred equity = $1.90 / $26.80 x 100 = 7.09 %

4 0
3 years ago
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