Answer:
D) try to get together and limit the quantity supplied.
Explanation:
Elasticity of demand is defined as a measure of the responsiveness of changes in quantity demanded with change in price.
When price increases the quantity demanded falls.
If a good is inelastic it means that the price increase will not result in a big drop in quantity demanded.
So if suppliers notice a good is inelastic they will most likely come together to reduce supply while increasing prices. This will result in higher revenues for them as quantity demanded does not fall with increase in price.
Answer:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
Explanation:
The sales refund account is liability account that should naturally have a credit balance.
In the current period the balance in the sales refund payable account should be $900 in total,but there is a balancing credit amount already in the account,intuitively, the amount needed to raise the balance in the account to $900 is $600.
The necessary entries required for the sales refund payable is shown below:
Dr Allowances for sales returns $600
Cr Sales refund payable $600
Being increase sales refund estimate
There is no adjusting entry to accounts receivable as that deals with receipt of cash from sales transactions and not the actual sales transactions.
When the refund is eventually settled with cash, a debit is posted to sales refund payable and a credit to cash account
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:
The correct answer is C that is the accuracy of the data.
Explanation:
Execution means that the actual implementation or the execution of the details financials. As her boss gave feedback that the presentation was excellent which states that the level of the accuracy of the data is good.
Therefore, the aspect of the effectiveness of the communication which is not referred by the boss is accuracy of the data while talking about the execution.
