Answer:
Your task is to take this <u>demand schedule</u> and construct a graphical representation of the data. In doing so, you determine that as the price of soda rises, the quantity of soda demanded decreases. This confirms the <u>law of supply and demand
.</u>
Explanation:
A demand schedule basically shows us the quantity demanded for a good or service at different price levels.
As the price of a good or service increases, the consumers will be less willing to purchase the good or service, therefore the quantity demanded will decrease. When the price of a good or service increases, this results in a higher opportunity cost for the consumer and a lower consumer surplus.
Inversely, when the price of the good or service increases, the suppliers will be more willing to produce the good or service, therefore the quantity supplied will increase.
Answer: the ALSA management team must understand the importance of social media in their work because of globalization. People can work from one country to another country through social media. Through social media you can get answer to your problems at work quickly.
Explanation:
Answer:
The total overhead variance in hours taken is 3,600 hours
The total overhead cost variance is $1,110
Explanation:
The variance is about the different between budget/ standard and actual figures.
Standard hours allowed for the work done is 22,200 hours; and the predetermined overhead rate is $5.75 per direct labor hour. So total cost budgeted for work done is $127,650 = $5.57 x 22,200 hours
The total overhead variance in hours taken = standard hours of 22,200 - actual direct labor hours of 18,600 = 3,600 hours
The total overhead cost variance = standard cost - actual cost = $127,650 - $126,540 = $1,110
Answer:
a) 2,093
b) It will reorder once there are 420 units left (demand during lead-time)
c) 34 days
Explanation:
a) economic order quantity
<u>Where:</u>
D = annual demand = 21,900
S= setup cost = ordering cost = 50
H= Holding Cost = 0.50
EOQ = 2092.844954
b) it takes four days to arrive:
if it sale 420 units per week then:
420 x 4/7 = 240 units are demand during delivery
c) order cycle:
EOQ / Annual Demand
2,093 / 21,900 = 0,09557 x 365 = 34.8333 days
It will order every 34 days (if it orders after 35 days will face shortage)
Bills accounting profit is
equals to revenue ($250,000) minus explicit (monetary) cost (50,000 and
30,000), while his economic profit is equals to accounting profit minus
implicit (opportunity) cost (3,000 and 100,000). Accounting profit is $170,000
and Economic profit is $67,000.
<span>Economic profit is always lower
than accounting profit because explicit costs and implicit costs are both
deducted to revenue. Implicit costs are cost that he should have earned if he
gives up his present resources. These costs are projected cost and are not yet
incurred.</span>
