Explanation:
it affects the retailer by if they gave a good in a highest price then if that product is not sold then it would happen.
Answer:ice cream is the best always buy it_-_
Explanation:
Answer:
$537,000
Explanation:
The computation of net income for 2021 using full costing is shown below:-
Net income = Sales - Cost of goods sold - Selling and administrative expenses
= (1,200 × 1,200) - (((1,200 × (350 + 220 + 20)) + 112,000) - ((1,200 × 20) + 35,000)
= $1,440,000 - $844,000 - $59,000
= $537,000
So, for computing the net income we simply applied the above formula.
Answer:
Casey's opportunity cost of producing 1 kg of potatoes is 5 kg of steak.
Casey's opportunity cost of producing 1 kg of steak is 0.2 kg of potatoes.
Rick's opportunity cost of producing 1 kg of potatoes is 3 kg of steak.
Rick's opportunity cost of producing 1 kg of steak is 0.33 kg of potatoes.
Casey should produce steak while Rick should produce potatoes, since Rick has a comparative advantage in producing potatoes (lower opportunity cost) and Casey has a comparative advantage in producing steak.
As long as the price of steak per kilogram of potatoes is less than 5 kg of steak and more than 3 kg of steak, then both would win. In order for both of them to win is a similarly proportional way, the exchange price should be 4 kg of steak per kg of potatoes.