Answer:
Results are below.
Explanation:
Giving the following information:
Units produced and sold= 900
Sales price (per unit) $448
Manufacturing costs:
Fixed overhead 50,400
Direct labor (per unit) 35
Direct materials (per unit) 112
Variable overhead (per unit) 70 (for the month)
Marketing and administrative costs:
Fixed costs (for the month) 67,500
Variable costs (per unit) 14
a. Variable manufacturing cost= 35 + 112 + 70= $217
b. Total cost:
Total variable cost= (217 + 14)*900= 207,900
Total fixed cost= 50,400 + 67,500= 117,900
Total cost= $325,800
Total cost per unit= 325,800/900= $362
c. Total variable cost= 217 + 14= $231
d. The absorption costing method includes all costs related to production, both fixed and variable.
Absorption cost= 217 + (50,400/900)= $273
e. Prime cost= direct material + direct labor
Prime cost= 112 + 35= $147
f. Conversion cost= direct labor + unitary variable overhead
Conversion cost= 35 + 70= $105
g. Profit margin= selling price - total unitary cost
Profit margin= 448 - 362= $86
h. Contribution margin per unit= selling price - total unitary variable cost
Contribution margin per unit= 448 - 231= $217
j. Gross margin per unit= Selling price - absorption cost per unit
Gross margin per unit= 448 - 273= $175
The computations show that Columbia Products incurs a loss per unit sold and that manufacturing costs and overheads figure significantly into the total cost per unit. The company needs to increase sales price or decrease costs to attain a positive profit margin.
Here's how to calculate the required costs:
#SPJ3
Answer:
a) process
Explanation:
The P's are Product, Pricing, Place, Promotion, People, Process and Physical Evidence and for Traditional Marketing is Product, Pricing, Place and Promotion
b. inventory must be counted at the end of each accounting period.
c. inventory does not have to be counted. (It can be taken from the accounting records.)
d. inventory levels must be counted every day.
Answer:
The correct answer is letter "B": inventory must be counted at the end of each accounting period.
Explanation:
The Periodic Inventory System is an approach of keeping track of the inflows and outflows of the inventory of a company after determined periods. Starting the year, companies using this inventory method count the number of items in their inventory which will vary during the course of a period and by the end of it another count is made to find out the difference between the starting and ending inventory. The calculation helps to find out the Cost of Goods Sold by the firm (COGS).
b. calculate your income elasticity of demand as your income increases from $10,000 to $12,000 if (i) the price is $12 and (ii) the price is $16.
The demand schedule is first rearranged as in the attached photo.
The questions can be answered using the following midpoint method formulae:
Price elasticity of demand = Change is quantity / Change in price …………… (1)
Income elasticity of demand = Change is quantity / Change in income …………(2)
Where:
Change in quantity = (New quantity - Old quantity) / ((New quantity + Old quantity)/2)
Change in Price = (New price - Old price)/ ((New price + Old price)/2)
Change in income = (New income - Old income)/ ((New income + Old income)/2) =
Using the formulae, we have:
a(i) Price elasticity of demand when income is $10,000
We have:
Change in quantity = (New quantity - Old quantity) / ((New quantity + Old quantity)/2) = (32-40) / ((32+40)/2) = -0.222222222222222
Change in Price = (New price - Old price) / (New price + Old price)/2) = (10-8) / ((10+8)/2) = 0.222222222222222
Price elasticity of demand when income is $10,000 = Change is quantity / Change in price = -0.222222222222222 / 0.222222222222222 = -1
a(ii) Price elasticity of demand when income is $12,000
We have:
Change in quantity = (New quantity - Old quantity) / ((New quantity + Old quantity)/2) = (45-50) / ((45+50)/2) = -0.105263157894737
Change in Price = (New price - Old price) / (New price + Old price)/2) = (10-8) / ((10+8)/2) = 0.222222222222222
Price elasticity of demand when income is $12,000 = Change is quantity / Change in price = -0.105263157894737 / 0.222222222222222 = -0.473684210526316, or -0.47 approximately
b(i) Income elasticity of demand as income increases from $10,000 to $12,000 if the price is $12
Change in quantity = (New quantity - Old quantity) / ((New quantity + Old quantity)/2) = (30 - 24) / ((30 + 24)/2) = 0.222222222222222
Change in income = (New income - Old income)/ (New income + Old income)/2) = (12,000 – 10,000)/ ((12,000 + 10,000)/2) = 0.181818181818182
Income elasticity of demand = Change is quantity / Change in income = 0.222222222222222 / 0.181818181818182 = 0.81818181818182, or 0.82 approximately
b(ii) Income elasticity of demand as income increases from $10,000 to $12,000 if the price is $16
Change in quantity = (New quantity - Old quantity) / ((New quantity + Old quantity)/2) = (12 - 8) / ((12 + 8)/2) = 0.40
Change in income = (New income - Old income)/ (New income + Old income)/2) = (12,000 – 10,000)/ ((12,000 + 10,000)/2) = 0.181818181818182
Income elasticity of demand = Change is quantity / Change in income = 0.40 / 0.181818181818182 = 2.20
Learn more here:brainly.com/question/13324924.
a. use the midpoint method to calculate your price elasticity of demand as the price of dvds increases from $8 to $10 if (i) your income is $10,000 and (ii) your income is $12,000 : -1
Suppose that your demand schedule for DVDs is as follows:
price
$8
10
12
14
16
quantity demanded (income = $10,000)
40 pizza
32
24
16
8
quantity demanded (income = $12,000)
50 pizza
45
30
20
12
a. use the midpoint method to calculate your price elasticity of demand as the price of dvds increases from $8 to $10 if (i) your income is $10,000 and (ii) your income is $12,000.
Price elasticity of demand (Income $10,000) = Quantity present - quantity previous / (quantity present + quantity previous /2) divide with (Price present - price previous / (price present + price previous /2))
quantity present - quantity previous / (quantity present + quantity previous/2) = 32-40 / ((32+40)/2) = 9/36 = -0.2222
(Price present - price previous / (price present + price previous /2))
= 10-8 / ((10+8)/2) = 2/9 = 0.2222
Price elasticity of demand (Income $10,000) = Quantity present - quantity previous / (quantity present + quantity previous /2) divide with (Price present - price previous / (price present + price previous /2)) = -0.2222 / 0.2222 = -1
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Answer:
Fee Simple Absolute
Explanation:
The 6 types of modern freehold estates, distinguished by duration includes;
1. Fee simple absolute
2. Life estate
3. Fee tail
4. Fee simple determinable
5. Fee simple subject to a condition subsequent
6. Fee simple subject to an executory limitation
And also
The types of Fee Simple includes
A) Fee Simple Absolute
B) Defeasible Fees
Fee Simple Absolute
This is regarded as an absolute ownership. It is a never ending period of time with no hindrance or limitations on its inheritability. it also cannot be ended or shuffled on the happening of any event. It is also regarded as the right to possess now, even until the end of time.
Its characteristics includes:
1. The holder has all the rights or entitlement.
2. The duration is never ending that is, the interest is absolute because the interest will not end on the occurrence of an event or condition
3. There is no future interest that follows it
3. The owner has the right of possession, alienation, and exclusion
And others.
Answer:
FV= $6,308.12
Explanation:
Giving the following information:
Semiannual deposit= $1,000
Number of periods= 6
Interest rate= 4%= 0.04= 0.04/2= 0.02
To calculate the future value, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= semiannual deposit
FV= {1,000*[(1.02^6) - 1]} / 0.02
FV= $6,308.12
In a financial calculator:
Function: CMPD
Set: End
n= 6
i= 2
PV= 0
PMT= 1,000
FV= solve= 6,308.120963
b. fields of experience
c. channels of communication
d. educational systemse.advertising appeals
Answer: b. fields of experience
Explanation: The different interpretations of the advertisement are primarily due to differing fields of experience. The interpretation errors due to dissimilar or differing fields of experience are the consequence of bad translations made when the KFC slogan of "finger-lickin' good" was translated into Mandarin Chinese as "eat your fingers off"!