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3 years ago

Explain 3 factors that change supply elasticity.

Business

1 answer:

vazorg [7]3 years ago

6 0

Answer:

There are numerous factors that impact the price elasticity of supply including the number of producers, spare capacity, ease of switching, ease of storage, length of production period, time period of training, factor mobility, and how costs react.

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Number of units produced 3,100 Number of units sold 2,400 Unit sales price $ 350 Direct materials per unit $ 60 Direct labor per

Dima020 [189]

Answer:

See explanation section.

Explanation:

Requirement 1

Crystal Cold’s

Absorption Costing Income Statement

For the year ending, December 20YY

Sales revenue ($2,400 units × $ 350) = $840,000

Less: Cost of goods sold

Direct materials ($2,400 units × 60) = $144,000

Direct labor ($2,400 units × 50) = $120,000

Variable manufacturing overhead ($2,400 units × 11) = $26,400

Fixed manufacturing overhead = $232,500

Total cost of goods sold = $522,900

Gross profit = $317,100

Less: Selling, General & Administrative expenses

Variable SG&A = $33,600

Fixed SG&A = $64,000

Total SG&A = $97,600

Net Income = $219,500

Requirement 2

Crystal Cold’s

Variable Costing Income Statement

For the year ending, December 20YY

Sales revenue ($2,400 units × $ 350) = $840,000

Less: Variable product cost

Direct materials ($2,400 units × 60) = $144,000

Direct labor ($2,400 units × 50) = $120,000

Variable manufacturing overhead ($2,400 units × 11) = $26,400

Variable selling expense $33,600

Total variable expenses = $324,000

Contribution margin = $516,000

Less: Fixed expenses

Fixed manufacturing overhead = $232,500

Fixed selling expense = $64,000

Total fixed expense = $296,500

Net Income = $219,500

3 0

3 years ago

Smythe Co. makes furniture. The following data are taken from its production plans for the year.

PtichkaEL [24]

Answer:The hazardous waste disposal cost per unit for chair and table respectively is $2.83 and $1.54

Explanation:

From the question, If cost are assigned at a rate based on direct labor hours, then the total disposal cost for chairs is

total disposal cost for chairs =Direct labor hours required for chairs/Total Direct labor hours required for both furniture x Hazardous waste disposal costs

268,000/ 268,000+16,400 x 615,000

= 268,000/ 284,400 x 615,000

===$595,535.865

and for tables for is

total disposal cost for tables=Direct labor hours required for tables /Total Direct labor hours required for both furniture x Hazardous waste disposal costs

16,400 / 268,000+16,400 x 615,000

= 16,400 / 284,400 x 615,000

===$35,464.135

The hazardous waste disposal cost per unit for chair and table respectively is

For chair ====total disposal cost for chairs/ Expected production of chairs

$595,535.865/210,000 units= $2.83

For table ====total disposal cost for table/ Expected production oftable

$35,464.135/23,000 units=$1.54

4 0

2 years ago

Examples of persuasive ads

Olin [163]

Persuasive means to encourage someone to do something.

so a ad that will be considered persuasive would be like dove soap.
The directors of the ad are trying to get the customers to buy their product

7 0

2 years ago

Read 2 more answers

Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called ________ money

melisa1 [442]

Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called <u>fiat</u> money.

The term is derived from the Latin word fiat, because of this a dedication through authority—in this case, it is the government that decrees the fee of the currency and is not representative of every other asset or financial device consisting of gold or a check.

Fiat cash, in a wide feel, all varieties of money which are made criminal tender via a government decree or fiat. The term is, but, commonly reserved for criminal-tender paper money or cash that have face values ways exceeding their commodity values and aren't redeemable in gold or silver.

Economists differentiate amongst 3 special forms of money: commodity money, fiat money, and bank money.

Learn more about fiat money here

brainly.com/question/718436

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4 0

1 year ago

Helen spent the last 85 days of 2020 in a nursing home. The cost of the services provided to her was $27,625 ($325 per day). Med

Vsevolod [243]

Answer:

Amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

Explanation:

Data Given:

Number of Days Helen Spent = 85 days

Cost of the services = $27,625

Medicare Paid = $8400

Benefits received = $15440

Assumption: Federal Daily Excludible amount = $380

Solution:

Daily Statutory amount = Daily Excludible amount x number days spent

Daily Statutory amount = $380 x 85 days

Daily Statutory amount = $32300

We know that,

Amount of Medicare Paid = $8400

So, now we need to calculate the amount of exclusion first.

1. Amount of Exclusion = cost of the services - Medicare paid

Amount of Exclusion = $27625 - $8400 = $19225

So, now we calculate the amount included into the gross income of Helen.

2. Amount included in gross income = Benefits Received - Amount of Exclusion

Amount included in gross income = $15440 - $19225

Amount included in gross income = -$3785

Here, we will not cater the negative, which means that amount included in gross income of Helen is $0.

Hence, There will be no effect upon the gross income of Helen.

5 0

3 years ago