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Sindrei [870]
3 years ago
5

Products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others a

re called
Business
1 answer:
Tomtit [17]3 years ago
7 0

Products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others are called prestige products.

Prestige products are products that are of a high quality, high value and costly which are often purchased by people because of the benefit they will derived from it.

Most people tend to buy prestige products in order to increase their status in the society and they will often go for the product without minding how costly the product are.

Example of prestige product is buying a luxury car or items such as wrist watch that are very expensive.

Inconclusion products that cost a lot of money but that people buy anyway because of the status and exclusivity that they project to others are called prestige products.

Learn more about prestige products here: brainly.com/question/6374886

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Flannigan Company manufactures and sells a single product that sells for $450 per unit; variable costs are $270. Annual fixed co
uysha [10]

Answer: The company's current sales is 9,333 units.

It has to sell a total of 10,695 units in order to achieve a target pre tax income of $1,125,000.

First we calculate the number of units sold at the current sales level.

We compute this as:

\frac{Sales}{Price per unit} = \frac{4,200,000}{450}  = 93333.33 units

Next we find the contribution margin per unit.

Contribution margin per unit =  Selling Price - Variable Cost

Contribution margin per unit =  450 - 270

Contribution Margin per unit is <u>$180.</u>

Flannigan Company's current per-tax income is calculated as :

Sales                                                                    4200000


less:Variable costs @ $270  for 9333.33 units           -2520000


Contribution                                                            1680000


less:Fixed Costs                                                            -800000


Pre tax income                                                     880000


With this information, we can calculate the Contribution Margin required if the pre tax income should be $1,125,000. We work backwards in order to find the Contribution Margin from Pre-tax income.

Targeted Pre Tax income                                $1,125,000

Add: Fixed Costs                                              $  800,000

Contribution Margin                                         $1,925,000

Since we know the per unit contribution, we can calculate the number of units to be sold as:

Targeted sales in units = \frac{New contribution margin}{Contribution per unit}

Targeted sales in units = \frac{1,925,000}{180} = 10,694.44

Since products can't be sold in parts, any decimal value after a whole number will be rounded up. Hence the targeted sales will be 10,695 units.


7 0
3 years ago
Read 2 more answers
Which of the following statements is NOT true? Group of answer choices Intelligent investors must be concerned about future afte
umka2103 [35]

Corporate dividends are always paid in cash is not true among the given statements.

<u>Explanation:</u>                                                                      

Corporates dividends are not always paid in cash sometimes they are paid in merchandise or as other assets. Dividends are earnings which corporations distribute to its stockholders and they are charge against the profit which the corporation generated over the specified period.

They are charged on the stock which is owned by all the shareholders/stockholders or other investors. The period which dividends are paid differs from one corporation to another. Some companies pay annually while others opt for quarterly payments or pay after 3 months.

7 0
3 years ago
The quick ratio of a firm with current assets of $300,000, current liabilities of $100,000 and inventory of $100,000 is
butalik [34]

Answer:

2:1

Explanation:

A firm has a current assets of $300,000

A current liabilities of $100,000

An inventory of $100,000

The quick ratio of the firm can be calculated as follows

Quick ratio= Current assets-inventory/Current liabilities

= $300,000-$100,000/$100,000

= $200,000/$100,000

= 2:1

Hence the quick ratio of the firm is 2:1

7 0
3 years ago
Which of the following is correct?
Eduardwww [97]

Answer:

The correct answer is option D.

Explanation:

The Bureau of Labor Statistics is a unit under the US department of labor. It is tasked with collecting information on the labor market, prices, and productivity and provide statistical data on its basis.  

The unemployment rate is calculated on the basis of data collected through a monthly survey called the current population survey.

The part of the adult population which is either working or do not have a job but are actively looking for one are included in labor force. Discouraged workers or those who are unemployed but not looking for jobs actively are not included.

Unemployed homemakers are not counted as employed, they are not included in the labor force either. They are considered out of the labor force as they do not have a job and are not looking for one.  

All full time and part-time workers are counted as employed.

6 0
3 years ago
In 2007, Terry Inc. provided the following items in their footnotes. Their cost of goods sold was $22 billion under FIFO costing
nikdorinn [45]

Answer:

$22.2 billion

Explanation:

Calculation to determine How much would they report as LIFO cost of goods sold

Cost of goods sold=$22 billion + ($0.8 billion ­ $0.6 billion)

Cost of goods sold=$22 billion + $0.2 billion

Cost of goods sold= $22.2 billion

Therefore How much would they report as LIFO cost of goods sold would be $22.2 billion

7 0
3 years ago
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