Answer:
B it occurs where the market demand and supply curves intersect.
Explanation:
The equilibrium price is the current market price, as determined by the forces of demand and supply. It reflects the price at which buyers and sellers agree for a specified quantity of a product in a given time.
In a graph containing both the demand and supply curve, the equilibrium price is the two curves' intersection. At this price, there will be excess or short supply in the market.
Answer:
a. $112,000
b. $7,500
Explanation:
(a) transferred out
Units transferred out are 100% complete for both materials and conversion costs, thus multiply the Total Cost per Equivalent units with the number of units transferred.
Cost of units transferred out = $8 × 14,000 units
= $112,000
(b) in ending work in process
Units of ending work in process are 100% complete in terms of materials ( since materials are entered at the beginning of the process) whilst 25% complete in terms on conversion cost (applied uniformly during production).
Cost of ending work in process
Materials ($3 × 2,000 units) = $6,000
Conversion ($3 × (2,000 units × 25%)) = $1,500
Total Cost = $7,500
Logistics system should be designed to achieve customer service goals while maintaining lowest possible financial investment in inventory.
The main purpose of logistics system is to increase the experience of the customer and to improve profits of the organization. Reducing the cost of inventory may add to the profits of the company.
Managing the inventory is an instinct part of the smooth running of businesses. Recognizing which and how much stock has to be ordered, is useful to continue the inventory levels and content the customers. Timely delivery of the product adds to the customer satisfaction.
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