Answer:
(a) They take a personal stake in the success or failure of the business.
Explanation:
Entrepreneurs are some of the most multiverse, multi -talented and diverse people. They try to perform different roles at same time like they are the project managers, a risk taker, an accountant, a marketer and a salesman etc.
Entrepreneurs play a key role in any economy. These are those that have the talents and initiative necessary to anticipate current and future desires and produce sensible new concepts to the market.
They carefully analyze market conditions and also they take a personal stake in the success or failure of the business.
So, option (a) is correctly fitted.
Answer:
Flexible Budget for 18,000 units $
Direct labour ($6 x 18,000) 108,000
Direct material ($1 x 18,000) 18,000
Total fixed cost <u>48,000</u>
Total cost <u>174,000</u>
Direct labour cost per unit = $72,000/12,000 units = $6 per unit
Direct material cost per unit = $12,000/12,000 units = $1 per unit
Explanation:
In this case, we need to determine the direct labour cost per unit by dividing the total labour cost in the static budget by the units of production in the static budget. We also need to calculate the direct material cost per unit by dividing the total material cost in the static budget by the units of production in the static budget. Then, we will multiply the direct labour cost per unit and direct material cost per unit by the units of flexible budget. The total fixed cost remains fixed throughout the level of activities.
Answer:
there is only movement along the demand curve for apple juice.
Explanation:
The demand curve shows the graphical relationship between the price of a good or service and the quantity demanded at each point in time. It shows the quantity demanded at each price. There is an inverse relationship between price and quantity demanded, as the price increases the quantity demanded reduces (but demand itself stays the same) while If the price decreases, quantity demanded increases.
The price of orange juice falls from $2.49 a jug to $1.99 a jug, the demand curve remains the same, but there is only movement along the demand curve for apple juice.