Answer: Meeting customer requirements at a profit
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.
Answer:
C.51.63%
Explanation:
Gross profit percentage = Gross profit/ Net sales ×100
Gross profit $700,400
Net sales $1,356,504
Hence ;
$700,400/$1,356,504 ×100
=51.63%
Therefore the gross profit percentage is
51.63%
Answer:
<u>Part(a) Differential analysis as at February 24</u>
Make (Alternative 1) :
Direct Materials $35.00
Direct labor $18.00
Variable Overheads $2.70
Fixed Overheads $0.00
Total Make Costs $55.70
Buy (Alternative 2) :
Total Purchase Cost $59.00
<u>(b) On the basis of the data presented, would it be advisable to make the carrying cases or continue buying them? </u>
It is clear that from comparison of the cost of Purchase and the Cost of Making the Carrying Cases, the Cost of Making the Carrying Cases is lower than the Cost of Purchasing the Cases by $3.30
It is thus advisable to make carrying cases instead of buying them
Explanation:
Total Make Costs;
The Factory fixed overheads are irrelevant to this decision hence they were ignored in the make cost calculations.
The state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.
<h3>What is a deed of assignment?</h3>
It should be noted that the deed of assignment simply means an instrument that's used to illustrate that a transfer has taken place.
Any property transaction needs a deed of assignment because it serves as the primary record between the seller and the buyer proving that all negotiations, inquiries, and other required due diligence have been made, the purchase price has been paid, and all other prerequisites have been met.
In this case, the state transferred ownership of property to Roger and Pauline, the transfer document that the state agency will use us a deed of assignment.
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