Which of the following is true when a profit-maximizing monopolist produces in the elastic portion of its demand curve? (A) It can increase total revenue by raising price. (B) It can decrease average total cost by reducing output. (C) Price is equal to marginal revenue. (D) Marginal revenue is less than marginal cost. (E) Marginal revenue is positive.
Answer:
(E) Marginal revenue is positive
Explanation:
When a profit-maximizing monopolist is producing at a level where its demand curve is elastic, (A) It can increase total revenue by raising price.
How does a monopoly make profit?A monopoly will make profit by producing at a level where it can increase total revenue by increasing its price.
This level is found at the elastic portion of the monopoly's demand curve because a change in price will affect demand.
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Fill in the blank.
Even though you love your business, making a _______ is important.
If adding an extra rose to each flower arrangement could put a florist out of business, your _______ controls must be rigorous.
If there are already three summer camps in your area, you may want to look for a _______ that has been neglected by your competition.
A _______ business is usually less expensive to establish than one that requires a physical structure.
Even though you don’t have employees, you will still have to worry about high _______.
someone that can help and not send a link that does not work
Answer:
profit
price
niche
internet-based
operating
Explanation:
Answer:
profit
price
niche
internet-based
operating
Explanation:
1) The standard cost to product one unit of product A includes 2 pounds of material at a standard cost of $ 4.00 per pound. During the month, 27,000 pounds of materials were purchased at a cost of $ 3.80 per pound and was used to produce 13,000 units of Product A
2) The standard labour cost to produce the unit includes 3 hours of work at an hourly rate of $ 10.00 per hour. For the month, 30,500 hours of labour are incurred at a cost of $ 10.10 per hour to produce 10,000 units.
You are asked to prepare reports showing:
a) The total materials Variance
b) The Price and Quantity materials Variance
c) The total Labour Variance
d) The Labour price and quantity Variance.
The preparation of reports showing the various required variances (total materials variance, the price and quantity materials variances, the total labor variance, and the labor price and quantity variances) are as follows:
a) The total materials Variance
= $1,400 Favourable ($104,000 - 102,600)
b) The Price and Quantity of Materials Variance:1) Price of Materials Variance:
= $5,400 Favorable ($4.00 - $3.80) x 27,000
2) Quantity of Materials Variance:
= $4,000 Unfavorable (26,000 - 27,000) x $4.00
c) The total Labour Variance= $8,050 Unfavorable ($30 - $30.805) x 10,500
d) The Labour price and quantity Variance1) Labor Price Variance
= $3,050 Unfavorable ($10 - $10.10) x 30,500
2) Labor Quantity Variance
= $5,000 Unfavorable (30,000 - 30,500) x $10
What variance analysis?In cost accounting, variance analysis investigates the differences between actual costs and budgeted costs of materials, labor, and overhead.
Variance analysis helps management to take corrective actions after identifying the causes.
Data and Calculations:Standard material cost for Product A = 2 pounds
Standard cost per pound = $4.00
Standard cost per unit = $8 ($4.00 x 2)
Total standard cost for materials = $104,000 ($8 x 13,000)
Purchase of materials = 27,000 pounds
Cost per pound = $3.80
Total purchase cost for materials = $102,600 ($3.80 x 27,000)
Production units = 13,000 units
Actal materials used per unit = 2.0769 pounds (27,000/13,000)
Actual cost per unit = $7.89 ($102,600/13,000)
Standard labor cost per unit = 3 hours
Standard rate of pay = $10
Standard labor cost per unit = $30 (3 x $10)
Totall standard labor hours = 30,000 (3 x 10,000)
Actual labor hours incurred = 30,500 hours
Labor rate per hour = $10.10
Total labor costs = $308,050 (30,500 x $10.10)
Production units = 10,000 units
Actual labor cost per unit = $30.805 ($308,050/10,000)
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1. Create a demand curve and supply curve for jeans using the following table of values:
PRICE QUANTITY PRICE
QUANTITY
10
500
10
200
20
450
20
250
30
400
30
300
40
350
40
350
50
.°S
300
50
400
250
60
450
200
70
500
The consumer price index measures the cost of the _____ of a family of ____ living in a typical U.S. city. consumption; two production; four production; two consumption; four
The consumer price index measures the cost of the consumption of a family of living in a typical U.S.
What is the consumer price index?This term is a measure of the average of the weighted measurement of consumption that a family uses. It measures the average of the prices that are spent in consumption.
What is measured basically using this is the cost of goods and services consumed by the family.
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Question 3
What is a business plan?
Explanation:
A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals.
What is true of people who are motivated by the need for achievement?
What is true of people who are motivated is: They want fair and balanced feedback, both negative and positive
What is Motivation?Motivation can be defined as the process of driven someone to achieve their goals and objectives.
When people are motivated they tend to perform better on their job. Some people who need motivation in order to achieve a goal will tend to desire a both negative and positive fair and balanced feedback as this will help to know their lapses and how when they are doing.
Therefore they want fair and balanced feedback, both negative and positive
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Hi can someone help!
The most direct wat for Johnathan to gain on the job experience and earn money while attending school is to apply for:
a. Private Loan
b. A work study program
c. Federal financial aid
d. Scholarships
Answer:
a work study program...........
Required information
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[The following information applies to the questions displayed below.]
Marco Company shows the following costs for three jobs worked on in April.
Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 29,000 $ 37,000
Direct labor used (in March) 24,000 18,000
Overhead applied (March) 12,000 9,000
Costs during April
Direct materials used 134,000 210,000 $ 120,000
Direct labor used 104,000 155,000 103,000
Overhead applied ? ? ?
Status on April 30 Finished (sold) Finished (unsold) In process
Additional Information
Raw Materials Inventory has a March 31 balance of $89,000.
Raw materials purchases in April are $550,000, and total factory payroll cost in April is $386,000.
Actual overhead costs incurred in April are indirect materials, $54,000; indirect labor, $24,000; factory rent, $34,000; factory utilities, $21,000; and factory equipment depreciation, $55,000.
Predetermined overhead rate is 50% of direct labor cost.
Job 306 is sold for $650,000 cash in April.
Required:
1. Determine the amount of overhead applied to each job in April.
The amount of overhead costs applied to each job in April at Marco Company is as follows:
Job 306 Job 307 Job 308
Direct labor used 104,000 155,000 103,000
Overhead applied 52,000 77,500 51,500
What is the overhead application?Overhead application is the assignment of manufacturing overhead costs to the units or jobs produced in a reporting period.
The overhead application can be assigned using a standard or predetermined rate or based on activity levels used up by the units or jobs.
Data and Calculations:Job 306 Job 307 Job 308
Balances on March 31
Direct materials used (in March) $ 29,000 $ 37,000
Direct labor used (in March) 24,000 18,000
Overhead applied (March) 12,000 9,000
Costs during April
Direct materials used 134,000 210,000 $ 120,000
Direct labor used 104,000 155,000 103,000
Overhead applied ? ? ?
Overhead applied 52,000 77,500 51,500
($104,000 x 50%) ($155,000 x 50%) ($103,000 x 50%)
Predetermined overhead application rate = 50% of direct labor costs.
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what are 5 lessons you can learn from the movie the social network ?
Answer:
if this i a written response then i would say
1. you learn about the effects social media can have on the youth of today
2. social media while being a great way to share useful information can be very dangerous
3. social media is one of the number 1 causes of depression in teens
4. social platforms and companies are dishonest a lot of the time
5. social platforms are good for staying connected, but you should still be careful and use it wisely.
An iterative group process that allows experts, who may be located in different places, to make forecasts is referred to as ________.
The iterative group process that allows experts, who may be located in different places, to make forecasts is referred to as Delphi method.
What is Delphi method?The Delphi method is an iterative group process used for making forecasts, generating ideas, solving problems, or reaching consensus on complex issues. It involves a structured approach to gathering input and opinions from a group of experts or stakeholders, who may be located in different places, in order to arrive at a collective decision or forecast.
The Delphi method is often used in situations where there is a need to tap into the collective intelligence of a group of experts or stakeholders, and where face-to-face interaction may not be feasible due to geographical, logistical, or time constraints.
The Delphi method is the iterative group process that allows experts, who may be located in different places, to make forecasts.
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In open market operations, the selling of bonds by the central bank
Select the correct answer below:
The sales of bonds by the central bank in open market operations decreases the amount of loans and money supply in an economy.
What is an open market operations?This operations involves the sales and purchase of securities in the open market by a central bank.
The operation serves as an important tool used by the Federal Reserve in the implementation of monetary policy.
In conclusion, the sales of bonds results to decreases the amount of loans and money supply in an economy.
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Galaxy Quest produces telescopes in a single processing department. All direct materials used in the production of telescopes are added at the beginning of the process. Conversion costs (labor and overhead) are incurred evenly thereafter, as each unit is assembled, adjusted, and tested. The company uses process costing and has provided the following production information for January and February. Jan. Feb. Number of units in beginning work in process inventory 0 100 Number of units started during the month 900 600 Total number of units transferred to finished goods 800 500 The units remaining in work in process at the end of January were approximately 70 percent complete with respect to their conversion costs. During the month of February, all of the beginning work in process units were completed and the units remaining in work in process at the end of the month were approximately 75 percent complete with respect to their conversion costs. a. For the month of January, calculate the equivalent units of input resources used for direct materials and conversion. b. For the month of February, calculate the equivalent units of input resources used for direct materials and conversion.
a) The calculation of the equivalent units of input resources used for direct materials and conversion for January in Galaxy Quest is as follows:
Direct Materials Conversion
Total equivalent units for January 900 870
b) The calculation of the equivalent units of input resources used for direct materials and conversion for February in Galaxy Quest is as follows:
Direct Materials Conversion
Total equivalent units for February 700 650
What is the equivalent unit of production?The equivalent unit of production is an estimate of the units produced during an accounting period based on the percentage or degree of completion.
Using the weighted-average method, the equivalent units of production can be calculated as below.
However, another method for calculating the equivalent unit of production is the FIFO method. Under the FIFO method, the level of completion done on the beginning inventory in the current period is considered, unlike under the weighted-average method.
Production Data and Calculations:Jan. Feb.
Number of units in beginning work in process inventory 0 100
The number of units started during the month 900 600
Total units available for processing 900 700
Total number of units transferred to finished goods 800 500
Number of units in ending work in process inventory 100 200
Equivalent units of production for January:
Units Direct Materials Conversion
Units completed 800 800 (100%) 800 (100%)
Ending inventory 100 100 (100%) 70 (70%)
Total equivalent units for January 900 870
Equivalent units of production for February:
Units Direct Materials Conversion
Units completed 500 500 (100%) 500 (100%)
Ending inventory 200 200 (100%) 150 (75%)
Total equivalent units for February 700 650
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You recently increased your spending on marketing by 10%. You now spend $5,500 per month. Revenue increased by $1000 per month and your gross margin percentage is 70%. All other expenses stayed constant. Did the increase pay off?
such as satisfaction are concerned with the extent to which customer experiences are enhanced as a result of CRM. Question content area bottom Part 1 A. Customer perception metrics B. Marketing metrics C. User adoption metrics D. Key performance indicators (KPI) E. Business performance metrics
The customer perception metrics is basically concerned with the extent of how customer experiences are enhanced as a result of CRM.
What is the customer perception metrics?
This is a measurement of how a firm's customers feel about their product and brand.
Hence, this is the metrics that is concerned with the extent to which customer experiences are enhanced as a result of CRM.
Therefore, the Option A is correct
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Identify whether each of the following would be reported as an operating, investing, or financing activity on the statement of cash flows:
a. Purchase of investments
b. Disposal of equipment
c. Payment for selling expenses
d. Collection of accounts receivable
e. Cash sales
f. Issuance of bonds payable
WORD BANK:
- Investing
- Operating
- Financing
government spending influences the economy by
a) determining which government programs get the most funding
b) deciding on the prices for goods available to consumers
c) influencing the brands of products the country is allowed to produce
d) setting the salaries for employees in all private industries
Answer:
i say c
Explanation:
This is a table of different menu items served daily and on special occasions
A.Menu Charts
B.Menu Patterns
C.Stocks Inventory on Hand
D.Tested recipes and Portion Costs
different date between seasonal and off seasonal
Answer:
Seasonal effects are different from cyclical effects, as seasonal cycles are observed within one calendar year, while cyclical effects, such as boosted sales due to low unemployment rates, can span time periods shorter or longer than one calendar year.
Jakarius encourages his employees to focus on their own well-being and he truly hopes they will flourish. Jakarius is well on his way to:____________
a) expanding his employees’ skills.
b) designing jobs for task significance.
c) fairly compensating employees for their hard work.
d) creating a positive work environment.
Jakarius, who encourages his employees to focus on their well-being, is well on his way to d) creating a positive work environment.
What is a positive work environment?A positive work environment refers to a workplace where the following qualities and values are present and upheld:
TrustCooperationSafetyRisk-taking supportAccountabilityEquity.A positive work environment encourages employees to flourish as well as meet the organization's goals.
Thus, Jakarius, who encourages his employees to focus on their well-being, is well on his way to d) creating a positive work environment.
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A true statement about credit unions is that they usually
1-cannot make personal loans.
2-cannot offer depositors checking accounts.
3- charge lower fees and loan rates than banks.
4-give interest-free loans to their depositors.
A true statement about credit unions is that they usually charge lower fees and loan rates than banks.
What is Credit Union?Credit union is a cooperative financial institution that offers primary banking services to its members and established for the basic interest of its members. Its main aim is to meeting the needs of the members.
The members of the credit union are it's shareholders, depositor and it's not for profit making basis.
Hence, a true statement about credit unions is that they usually charge lower fees and loan rates than banks.
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What does Nana need her family to help with to make her restaurant better?
1. Fixing up the restaurant
2.Cooking for the restaurant
3.Paying for the restaurant
4. Serving at the restaurant
If a person opens a restaurant, it would be best to hire competent staff and also make sure that the aims and objectives of the business are met.
What is a Restaurant?This refers to the outlet where food, drinks, and other edibles are sold and distributed to the general public.
For a person opening a restaurant he would need all the help he can get and family members can also help out.
Please note that your question is incomplete so I gave you a general overview to help you get a better understanding of the concept.
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Answer:
Fixing up the restaurant
Explanation:
hope this helps!
cash flow is the amount of money
a available in your business at any given time
b in a cash register
c your expect to recieve from a customer
d you owe
Answer: The answer is B
Explanation: Cash flow is money that stays in the register. It is spared the cases of slight emergencies or cash change.
Describe the nature of the following major categories of risk (1) Financial Risks (2) Political Risks (3) Environmental Risks
Answer:
Market riskinvolves the risk of changing conditions in the specific marketplace in which a company competes for business. One example of market risk is the increasing tendency of consumers to shop online. This aspect of market risk has presented significant challenges to traditional retail businesses.
Explanation:
hope this helps
Answer:
Financial risk generally relates to the odds of losing money.
The financial risk most commonly referred to is the possibility that a company's cash flow will prove inadequate to meet its obligations.
Financial risk can also apply to a government that defaults on its bonds.
Credit risk, liquidity risk, asset-backed risk, foreign investment risk, equity risk, and currency risk are all common forms of financial risk.
Investors can use a number of financial risk ratios to assess a company's prospects.
Market risk, or systematic risk, affects the performance of the entire market simultaneously.
Market risk cannot be eliminated through diversification.
Specific risk, or unsystematic risk, involves the performance of a particular security and can be mitigated through diversification.
Market risk may arise due to changes to interest rates, exchange rates, geopolitical events, or recessions.
Explanation:
Please help
Case Study: Will my business survive?
Eric started his craft shop six months ago. At first, sales had been high as local residents and some tourists were attracted by the unusual designs and competitive prices. After four months, he started having problems with some suppliers, complaining about the shortage of suitably qualified staff. Eric also noticed that during the off-peak tourist season, sales fell by over 50%. He had chosen a cheap site in quite a poor area for his shop, and he was worried about damage to his property, as without tourists, the area was very quiet and some unemployed youths had broken other shop windows.
His shop had been visited by the local Trading Standards officer as a customer had complained that a piece of jewelry that Eric had thought was white gold was, in fact, made from silver.
The off-peak months were causing Eric financial problems too. He still had to pay the fixed cost of rent and local taxes, yet his cash inflows were very low. He started to wonder if his business could survive until the next peak tourist season and whether he should have taken up the offer of a Business Management degree course before going into business.
1) Outline the micro- environmental problems that Eric’s business is facing.
2) Explain how Eric might overcome these problems.
3) Outline any THREE macro-environmental problems that Eric’s business is facing.
4) Explain how Eric might overcome these problems.
Thank you!
The micro problems that Eric's business is facing are:
Suppliers not meeting Eric's demand due to HR issues.Over-head cost. These are Business Management issues.How can Eric Overcome the Micro-environmental Problems?To overcome issues with supplies, Eric will have to speak with his suppliers and link them up with suitable HR personnel to tackle the personnel problems they are having. In the short run, he needs to get more suppliers.
With regard to overhead costs, Eric must consider auditing his costs and taking the business online. By doing this, he can sell his crafts in season and off-season, thereby, covering up for overheads during off-season.
What are the three macro-environmental problems Eric's business is facing?The three macro-environmental problems are:
1. To tackle the short-fall in sales, Eric should consider doing more adverts while competing on high-end customer services, given that the prices are already competitive.
2. Because the area is not so secure, he in short-run must consider getting the business insured whilst employing the services of a professional security outfit.
3. It is important that Eric's business, in the short-run, refers the Local Trading Standards Office to his suppliers while getting training on how to identify quality jewelry.
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Question 4 (2 points)
What is an apprenticeship?
(A) donating your time to an organization that interests you.
(B) temporary job, that may be paid or unpaid.
(C) informal, short-term opportunity to follow someone through the workday to see the specific responsibilities required for that job.
(D) working in a trade as an assistant while learning the skills you need to qualify for certification.
Answer: D - working in a trade as an assistant while learning the skills you need to qualify for certification.
D and C are similair, but an apprenticeship is an oppurtunity to work under somebody and learn their craft, meaning it is not short-term nor is it informal.
As project manager, you have some ideas on how to recover a project that is falling behind schedule. Which
action could you immediately take to get the project back on track?
Select an answer:
Start with solutions you can authorize.
Implement your ideas and have a plan in case they don't work.
Ask the Project Management Office for approval.
Ask the customer or stakeholders for approval.
To get a delayed project back on track, the project manager must start with solutions they can authorize, increasing project control and organization.
How to carry out an effective project?It is essential that the project manager develop an effective schedule for the development of the project, according to the scope and available resources.
Therefore, it is essential that risk management plans are developed that prevent internal and external eventualities capable of interfering with the progress of the project.
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Select the correct answer from each drop-down menu. Karan works as an advertising executive in his company. He has been asked to evaluate the company’s previous advertisement campaigns in order to create a new advertising plan. Karan has to analyze the sales and how much the advertising discount promotions affected these sales. Which evaluation tools can Karan use for his work? Karan should use the to analyze the sales and to analyze the effect of advertising promotions on sales.
Karan should use the Sales Report to analyze the sales and advertising meter to analyze the effect of advertising promotions on sales.
Omitted opons includes:
first one
a.sales structure
b.sales pitch
c.sales report
second one
a.coupon tracking
b.advertising meter
c.promotions report
What is a Sales and Promotions reports ?A sales report is an analytical tool that provides informatrion relating to all a business’s sales activities and gives information on the performance of the sales activity and what the company should do differently.
Promotional Report is a technique used by buisnesses to analyse or evaluate success or failure of a promotion used before on sales.
This can help a buisness guage the performance of future promotions, improve normalcy in sales and to promote items according to time and season.
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Roger has just come across the different theories of leadership. He believes that Theory Y would work well with his personality and his compatty
what kind of leadership style would Roger have in his company?
Roger would have a democratic republican autocratic
or quid pro quo laissez-faire veni vidi vici
leadership style in his company.
I have until 3:05 to get this done please help !!
Answer:
Roger would have a democratic or laissez-faire leadership style in his company.
Explanation:
sorry ik this is like a week late but hopefully this helps someone else
The management of Roger's organization has is laissez-faire leadership.
What is Theory Y?Theory X and Theory Y are theories of human motivation and management. They were created by Douglas McGregor while he was at the MIT Sloan School of Management in the 1950s and advanced in the 1960s.
McGregor's paintings became rooted in motivational ideas through the works of Abraham Maslow, who created the hierarchy of needs. Theory Y highlights the motivating position of process pleasure and encourages people to meet obligations without direct supervision.
Therefore, from the above statements, it's clear that, quid seasoned quo laissez-faire veni vidi vici management fashion, is the precise answer.
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1. BMC Industries estimates that annual manufacturing overhead costs will be800, 000 Rwf. Estimated annual operating activity bases are: direct labor cost of 600,000 Rwf, direct labor hours are 70,000 and machine hours are 1400,000. Compute the predetermined overhead rate for each activity base
The predetermined overhead rate for each activity base is:
a) Direct labor cost = $1 Rwf
b) Direct labor hour = 8.57 Rwf
c) Machine hours = 0.43Rwf.
What is the predetermined overhead rate?The predetermined overhead rate is the overhead rate that is calculated based on some cost pools, which is then applied to units of production based on activity bases.
Some of the activity bases include direct labor hours or costs, and machine hours.
Using a predetermined overhead rate divides the estimated overhead costs by the units of the activity base.
Data and Calculations:Annual manufacturing costs = 600,000 Rw
Estimated annual operating activities bases:
Direct labor cost = 600,000 Rwf
Direct labor hours = 70,000
Machine hours = 1,400,000
The computation of the predetermined overhead rate for each activity base is as follows:
a) Direct labor cost = $1 Rwf (600,000 Rwf/600,000).
b) Direct labor hour = 8.57 Rwf (600,000 Rwf/70,000).
c) Machine hours = 0.43 (600,000 Rwf/1,400,000).
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