Assume that the price of a pizza at your local pizza parlor is $12. Illustrate what happens to producer surplus if the price falls from $12 to $6. First indicate the producer surplus lost by those sellers that leave the market because of this lower price. Label this A. Then indicate the decrease in producer surplus lost to those sellers that continue to sell pizza at the lower price. Label this B.
Answers
Answer:
attached below
Explanation:
Initial price of pizza at local parlor = $12
new price of pizza = $6
a) Product surplus = area above supply curve and below price ( A )
b) Decrease in producer surplus lost to sellers that continue selling pizza at lower price is represented with B
Related Questions
Gemma's seller client, Hugo, is selling his house in Benton. As Hugo's seller agent,
Gemma has several tasks to perform for him. One of these tasks is to what
Answers
Gemma's task as Hugo's seller agent is to conduct a comparative market analysis (CMA) to determine the appropriate listing price for the house in Benton.
The purpose of a CMA is to determine the appropriate listing price for the property by comparing it to similar properties in the local market.
Gemma will gather information on recently sold properties in Benton that are similar in size, condition, location, and features to Hugo's house. This information includes the selling prices of these properties, as well as the time they spent on the market before being sold.
By analyzing the data from the comparable properties, Gemma will be able to assess the current market value of Hugo's house. This will help her and Hugo determine a competitive and realistic listing price that attracts potential buyers while maximizing the property's value.
Gemma's CMA will involve carefully selecting and evaluating the most relevant comparable properties and making adjustments to account for any differences between them and Hugo's house. These adjustments may consider factors such as square footage, upgrades, amenities, and location.
By performing a thorough and accurate CMA, Gemma will provide Hugo with valuable insights into the local real estate market and enable him to make informed decisions regarding the listing price and marketing strategy for his house in Benton.
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Assuming that Brandt entered into a forward contract to sell 10 million South Korean won on December 1, 2020, as a fair value hedge of a foreign currency receivable, what is the net impact on its net income in 2020 resulting from a fluctuation in the value of the won
Answers
The net impact on its net income in 2020 resulting from a fluctuation in the value of the won is : $250 decrease in net income.
First step is to calculate the Discount on forward contract
Discount on forward contract=[($0.0035 − $0.0034) × 10 million
Discount on forward contract=$0.0001 × 10 million
Discount on forward contract= $1,000
Second step is to amortized the Discount on forward contract
Amortization of discount on forward contract=$1,000 / 4 months
Amortization of discount on forward contract=$250 per month
Based on the above calculation foreign exchange loss of the amount of $250 will be recognized on December 31, 2020.
Therefore the net impact on its net income in 2020 resulting from a fluctuation in the value of the won is a decrease of $250.
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Carns Company is considering eliminating its small tools division, which reported an operating loss for the recent year of $85,000. Division sales for the year were $1,310,000 and its variable costs were $1,175,000. The fixed costs of the division were $220,000. If the kitchen division is dropped, 45% of the fixed costs allocated it could be eliminated. The impact on Carns’s operating income from eliminating the small tools division would be:
Answers
Answer:
$36,000
Explanation:
As per the data given in the question,
Current Loss = $85,000
If we don't consider division, then 45% of fixed cost cab be eliminated and remaining 55% of fixed cost is considered.
Fixed cost to be applied
= $220,000 × 55%
= $121,000
Enhancing in operating loss when division is eliminated
= $121,000 - $85,000
= $36,000
1. Classify each of the following costs for Hamilton Company as a period cost or as a direct or indirect product cost by entering the dollar amount(s) in the appropriate column(s). Also classify if the cost is a Variable Cost or a Fixed Cost: A. Recognized $85,000 in wages for employees who assemble the company's products. B. Recognized sales commissions of $68,000. C. Recognized $48,000 in salaries for factory supervisors. D. Recognized $98,000 in salaries for executives (president and vice presidents). E. Recorded depreciation cost of $35,000. $18,000 was depreciation on factory equipment and $17,000 was depreciation on administrative office equipment F. Advertising expenses for print ads were $15,000 for the year. This cost lead directly to product sales for Hamilton Company. G. Utilized $15,000 of Raw Materials, $10,000 of direct and $5,000 of Indirect
Answers
Answer:
Hamilton Company
Cost Classification:
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
A. Recognized $85,000 in wages for employees who assemble the company's products. $85,000 $85,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
B. Recognized sales commissions
of $68,000 $68,000 $68,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
C. Recognized $48,000 in salaries for
factory supervisors. $48,000 $48,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
D. Recognized $98,000 in salaries for executives (president and vice presidents). $98,000 $98,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
E. Recorded depreciation cost of $35,000. $18,000 was depreciation on factory equipment and $17,000 was depreciation on administrative office equipment $17,000 $18,000 $35,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
F. Advertising expenses for print ads were $15,000 for the year. This cost lead directly to product sales for Hamilton Company.
$15,000 $15,000
Period Direct Indirect Variable Fixed
Cost Cost Cost Cost Cost
G. Utilized $15,000 of Raw Materials, $10,000 of direct and $5,000 of Indirect
$10,000 $5,000 $15,000
Explanation:
a) Period costs: These costs relate to an accounting period or passage of time. For example, advertising expense is a period cost. Some period costs are fixed.
b) Direct costs: These costs are traceable to the cost object. They are attributable to the production of goods or services. They form the elements for the costs of the product.
c) Indirect costs are not directly attributable to the product costs. For example, the cost of indirect materials or labor are not directly related to the product.
d) Costs can be classified into variable and fixed. These depict the behaviors of the cost. Variable costs change with the volume of production, while fixed costs remain constant irrespective of the level of activity, especially in the short-run, because all costs vary in the long-run.
Define ethics and law and show how they are different and similar.
Answers
Answer: The law sets minimum standards of behavior while ethics set maximum standards. Laws are created and enforced by governments based on society's ethics to mediate our relationships with each other and to protect their citizens.
Fire and police protection is the main responsibility of
Answers
Their main responsiblity is to keep people safe.
At December 31, 2021, Hull-Meyers Corp had the following onvestments that were purchased during 2021, its first year of operations
Answers
A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. As a result, some business owners have become successful, while others have not.
In an essay, you will choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world.
Answers
The entrepreneur that is chosen for this argument is Steve Jobs. Steve Jobs was one of the co-founders of Apple, which is now a trillion-dollar company.
The free enterprise system was necessary for Steve Jobs to make an impact on the business world. Steve Jobs did not come from a wealthy background, but he had a passion for technology. The free enterprise system allowed him to start a business without any restrictions from the government.
He was able to create innovative products, such as the iPhone and iPad, and sell them to consumers. The supply and demand of consumers determined the success or failure of his business endeavors. Steve Jobs was able to create a successful company and become a billionaire because of the free enterprise system.
Without the free enterprise system, Steve Jobs may not have been able to start a successful business and make an impact on the business world.
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What is the phone number for customer support? My paypal has been charged twice and they have not been able to send me a refund via email.
Answers
Answer:same thing happened to me they said my card was declined but they took money!
Explanation:
Hope this helps !
Employers wanting to attract higher quality workers began offering health care insurance and retirement plans to workers
Answers
Answer:
Yes, that's true. Companies are offering health care insurance and retirement plans to attract higher quality workers.
Employers can use health care insurance and retirement plans as incentives to attract higher quality workers. These benefits can help to make a job more attractive to potential employees, as they provide financial security and peace of mind. Additionally, offering these benefits can help to create a positive work environment, which can lead to increased employee satisfaction and productivity.
What do you think is the most important thing an advertising professional must remember when using social media?
Answers
Answer: the target audience
Explanation: you have to n remember who the post is intended for.
Answer:
be kind
Explanation:
You get a weekly allowance of $30 from your parents that is automatically transferred into your checking account. Tomorrow you are going to see a movie with your best friend which you often do. Your movie ticket and snacks cost $22. What is the best payment option for this scenario?
Answers
Answer:
In this scenario, the best payment option would be to use the money from your checking account to pay for the movie ticket and snacks. You receive a weekly allowance of $30, which is automatically transferred into your checking account, and the cost of the movie ticket and snacks is $22. Since you have enough money in your checking account to cover the cost of the movie and snacks, it would be most convenient and cost-effective to use the money in your checking account to pay for these items.
There are several different payment options that you could consider in this scenario. For example, you could use cash, a debit card, or a credit card to pay for the movie and snacks. However, if you have enough money in your checking account to cover the cost, it would likely be the most convenient and cost-effective option to use the money from your checking account to pay for these items.
Blue Corporation is a manufacturing company which has decided to introduce a new line of merchandise on January 25, 2019. The company has experienced significant revenue and earnings growth in recent years and anticipates future growth to decline slightly, yet remain consistent with the strong industry average (10-15% annual revenue growth). Blue has incurred certain patent costs and considerable attorney fees, in addition to survey costs, management studies, salaries, insurance, and quality inspections.
Given the three alternative methods for handling research and experimental expenditures, which method(s) would be most appropriate for Blue Corporation? Explain Why? How should Blue Corporation’s manufacturing expenditures be reported?
Answers
Answer:
Throughout the clarification category following the table, the definition of the concern is listed.
Explanation:
(1)
Quantitative surveys will now be the safest approach.
Questionnaire fees including patent fees become traceable as research spending, and progress is in estimates. This approach is used where a numerical production that helps to address analysis questions needs to be established. If one wants a concrete statistic to justify the study, it is a very effective market research tool.(2)
The cost incurred shall be recorded in compliance with IND AS 38 if because when the study, as well as surveys, are performed.
a food worker wearing artifishal nails is preparing a salad for lunch rush what should she do to prevent from contaminating the salad
Answers
Answer:
wear gloves when preparing the salad.
Explanation:
The __________ reflects the ups and downs of the nation’s real GDP.
A.
business cycle
B.
inflation rate
C.
consumer price index
D.
unemployment rate
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
Business cycle
Explanation:
The business cycle also refers to as the rise and fall of economic activity through periods of expansion and recession.
Examine the credit terms below
Interest Rates and Interest Charges
0% introductory APR for 10 months.
Annual Percentage Rate (APR) for purchases after that, your APR will be 10.99%, 15.99%, or 17.99% based on your creditworthiness. This APR will vary with the market, based on the Prime Rate.
Why would the lender offer a lower introductory APR for 10 months?
To reduce its profits
O To eliminate its risk
To entice consumers to use its credit card
To encourage consumers to apply for secured loans
Answers
Answer:
To entice customers to use it's credit card
Explanation:
Credit Card companies use tactics like this because it sounds more appealing then having to start paying immediately. This gives them an advantage over other companies that don't offer this making more people want to use their credit card.
In the above situation, the lender is offering a lower introductory APR for ten months to entice the consumers to use its credit card.
What is a credit card?A credit card is a form of plastic and digital money, which is used to pay for the purchases of the cardholder against the credit limit offered to the consumers.
APR is the rate at which the interest rate charged to the credit card holders in case of defaulted or late repayments. Low APR is attractive for the consumers as they can get to use a credit limit.
Hence, option C holds true regarding a credit card.
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A plumber and an industrial building draftsman would belong to which career cluster?
A: Agriculture, Food, and Natural Resources
B: Hospitality and Tourism
C: Architecture and Construction
D: Finance
Answers
Answer:
Architecture and Construction
Explanation:
Other things that would be included in this career cluster would be a plumber, a pipfitter, steamfitter......etc.
All three of the $5000 billion GDP figures (Production, Income and Spending) are in ____________ dollars.
Answers
Answer: D inflation adjusted, real
Explanation:
The GDP calculation acquired in the flow chart of $5,000 billion were all done after adjusting for inflation which means that they were in real dollars.
Inflation adjusted GDP enables more effective comparison between different periods as inflation tends to inflate the prices of goods and services and can make one think that the economy has grown more than it actually has.
When the value of GDP is inflation adjusted, it can then be seen just how much the economy improved or shrank.
Jim has to step into an existing high-priority project as the current project manager has suddenly reported sick just before an important milestone. He finds that the team is exhausted on account of the high workload, morale is low, and the client is pushing forward with previously agreed but clearly unreasonable deadlines. 1. What is the second most effective responsive? Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Jim tries to maintain the status quo and presses forward with the team to ensure client deadlines are met, no matter what. It is just a matter of holding the fort till the original project manager is back. Jim decides it is not worth stake his reputation on an ill-fated project, informs his director accordingly with a status report detailing the issues, and excuses himself from the project.
Answers
The second most effective response is, Jim decides to set the house in order. He informs his director with a status report detailing the issues, informs him that he would be talking with the client to discuss the deadlines, and needs to sit with the team to review and resolve the issues to the extent possible before the next scheduled delivery. Option a is correct.
The second most effective response would be option (a). Jim needs to communicate with the director about the situation and then address the issues with the team and client. It is important to set realistic expectations and ensure that everyone is on the same page. Ignoring the problems and pressing forward (option b) could result in further burnout and even more problems down the line.
Walking away from the project (option c) is not a good option either, as it does not address the current situation and could harm Jim's professional reputation. It is important to take responsibility and make an effort to improve the situation to the best of Jim's ability. Option a is correct.
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The North American Free Trade Agreement (NAFTA) is a trade agreement between the United States, Canada, and Mexico that took effect in 1994. It eliminated many tariffs and restrictions to allow free trade among these countries.
Discuss the positive and negative effects of the North American Free Trade Agreement on the United States. Support your conclusions with examples and evidence from the lesson.
Answers
The positive effects that Nafta had was that it
increased trade It brought better prices for goodsIncreased foreign investmentLed to raised output in the nationsThe negative effects of NAFTA were:
Mexico lost in the forms of farm jobsNations had to export the farm products below their exported costsWhat is NAFTA?This is the term that is used to refer to the North American free trade agreement that helped to establish free trade in the region between the member nations.
This helped in the removal of tariffs from all that had to do with trade in the North American region.
The positives were that it helped to bring about more economic opportunities for the members involved. They could trade more and better with themselves.
The negatives is from the fact that the exports that were made in some cases were a loss to the people that would export these products in the market at the time.
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Branch Company, a building materials supplier, has $18,400,000 of notes payable due April 12, 2022. At December 31, 2021, Branch signed an agreement with First Bank to borrow up to $18,400,000 to refinance the notes on a long-term basis. The agreement specified that borrowings would not exceed 70% of the value of the collateral that Branch provided. At the date of issue of the December 31, 2021, financial statements, the value of Branch's collateral was $19,600,000. On its December 31, 2021, balance sheet, Branch should classify the notes as follows:
a. $18,400,000 of long-term liabilities.
b. $18,400,000 of current liabilities.
c. $3,680,000 long-term and $14,720,000 current liabilities.
d. $15,680,000 long-term and $2,720,000 current liabilities.
Answers
Answer:
The answer is "Choice d"
Explanation:
Please find the complete question in the attached file.
Follows are the calculation to this question:
The notes on payable= \(\$18,400,000\)
Calculating the Refinancing ability:
\(=\$ 19,600,000 \times 80\% \\\\ = \$ 19,600,000 \times \frac{80}{100} \\\\ = \$ 196,000 \times 80 \\\\ =\$15,680,000\)
The current liability= \(\$2,720,000\)
On January 6, Blue Spruce Corp. sells merchandise on account to Harley Inc. for $9,400, terms 3/10, n/30. On January 16, Harley pays the amount due. Prepare the entries on Blue Spruce Corp.’s books to record the sale and related collection. (Omit cost of goods sold entries.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)
Answers
In the given journal entry, Jan. 6 Dr Accounts receivable $9,700, Cr Sales is $9,700. Jan. 16 = Cash $10,506. Sales discounts($9,700 * 2%) $194. Accounts receivable $10,700.
The journal entries are the initial recording of the business transactions in the books of accounts. The entries are prepared in chronological order .i.e. the order of their occurrence. This helps the accountant to prepare the general ledger accounts of each account head. Journal entries can record unique items or recurring items such as depreciation or bond amortization. In accounting software, journal entries are usually entered using a separate module from accounts payable, which typically has its own subledger, that indirectly affects the general ledger.
Thus, in the given journal entry Accounts receivable is $10,700.
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5 eBook Preparing a consolidated income statement For the year ended December 31, 20Y2, the operating results of Paley Corporation and its wholly owned subsidiary, Sims Enterprises, are as follows: Paley Sims Corporation Enterprises Sales Cost of goods sold Gross profit Operating expenses Operating income Interest revenue Interest expense Net income Sales 3,200,000 (1,900,000) 1,300,000 (750,000) 550,000 20,000 Cost of goods sold Gross profit Operating expenses Operating income During 20Y2, Sims Enterprises sold and received payment of $80,000 for merchandise that was purchased by Paley Corporation. The merchandise sold to Paley cost Sims Enterprises $45,000. Paley Corporatio (nonaffiliated) company for $110,000. 570,000 a. Prepare a consolidated income statement for Paley Corporation and Subsidiary. Hint: Eliminate the effect of the intercompany sale. Paley Corporation and Subsidiary Consolidated Income Statement For the Year Ended December 31, 20Y2 Other revenue and expense: Interest revenue Interest expense Net income Print Item Check My Work 900,000 (550,000) 350,000 (125,000) 225,000 (15,000) 210,000 X All work saved. Email Instructor Sav
Answers
The cost of goods sold ($1,900,000 + $45,000) is adjusted by the intercompany sale. the effect of the intercompany sale is eliminated in preparing the consolidated income statement.
Consolidated income statement is used to combine the financial statements of two or more parent company and their subsidiaries into a single financial statement. Therefore, the consolidated income statement for Paley Corporation and its wholly owned subsidiary, Sims Enterprises can be prepared as follows; Paley Corporation and Subsidiary Consolidated Income Statement For the Year Ended
December 31, 20Y2Sales $3,200,000Cost of goods sold ($1,900,000 + $45,000) 1,945,000 Gross profit $1,255,000
Operating expenses ($750,000 - $125,000) 625,000
Operating income $630,000Other revenue and expense:
Interest revenue $20,000Interest expense ($15,000 + $20,000) (35,000)Net income $615,000Note: The cost of goods sold ($1,900,000 + $45,000) is adjusted by the intercompany sale.
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Perz, Paul, President $168,000.00
Answers
Answer:
wer5432234
Explanation:
What is a main feature of the CERT program ?
Answers
Revenue bills can be proposed only by
Othe House.
O the Senate.
O the Speaker.
the President.
k
Answers
Principles of Investment
Assignment Active
Monetary Policy and Investments
Juan is always researching different investment options.
A few weeks ago he noticed some nice homes for sale in
his neighborhood. The listed prices were below market
value. Today on the news he heard that the Federal
Reserve lowered interest rates for banks and that banks
have lowered interest rates for home mortgages in turn.
As a result, there has been a huge boom in the number of
people purchasing homes.
What is most likely to happen as a result of the
change in interest rates?
O Housing prices will go up and down due to
changing fiscal policy.
O The market will experience more demand and the
price of houses will go up.
O The price of houses will go down in response to the
decreased demand.
O The prices for homes in that area will be stable due
to the new monetary policy.
4
Answers
As a result of the decrease in interest rates, Option B. The market will experience more demand, and the price of houses will go up.
The demand for houses will go up and housing prices will increase, causing individuals who were on the fence about buying a house to act swiftly before prices rise too much. As a result, housing sales are expected to surge. Lower interest rates, on the other hand, are often linked to increased borrowing and spending in the economy. Because borrowing money is now less expensive, more people are more willing to do so and the money supply in circulation rises.
The decrease in interest rates could cause more individuals to be more willing to purchase a home due to lower interest rates and more affordable mortgage payments. Lowering interest rates for banks and home mortgages, as well as lowering the cost of borrowing, encourages more people to buy houses, resulting in a greater demand for homes and, in turn, driving up the prices of homes.
As a result, option B is correct: the market will experience more demand, and the price of houses will go up. Therefore, the correct option is B.
The question was incomplete, Find the full content below:
Juan is always researching different investment options. A few weeks ago he noticed some nice homes for sale in his neighborhood. The listed prices were below market value. Today on the news he heard that the Federal Reserve lowered interest rates for banks and that banks have lowered interest rates for home mortgages in turn. As a result, there has been a huge boom in the number of people purchasing homes. What is most likely to happen as a result of the change in interest rates?
A. Housing prices will go up and down due to changing fiscal policy.
B. The market will experience more demand and the price of houses will go up.
C. The price of houses will go down in response to the decreased demand.
D. The prices for homes in that area will be stable due to the new monetary policy.
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1. Production in insurance refers to the policies they produce: * True or False?
2. Investment income can lead to: *
(i) All of the above,
(ii) Reduce Premiums,
(iii) Increase Market Value,
(iv) More investments
3. Life Insurers require sales department because: *
(I) To pitch the idea to potential clients
(ii) To coerce clients for life insurance
(iii) All of the above
(iv) Simple, to sell the insurance
Answers
Answer:
false
Explanation:
Creekside Corporation data is as follows: Selling price is $75 per unit; Variable expenses are $45 per unit (60% of sales), and contribution margin is $30 per unit (40% of sales). Fixed expenses are $75,000 per month and the company is selling 3,000 units per month.
a. The marketing manager believes that an $8,000 increase in the monthly advertising budget would increase monthly sales by $15,000. Should the advertising budget be increased?
Answers
According to the question of expenses, Yes, the advertising budget should be increased.
What is expenses?Expenses refer to the costs incurred by an individual or company in order to generate revenue and profit. Expenses can include a wide range of items, from the cost of raw materials used in production to rent, insurance, marketing, and other overhead costs. Expenses are typically divided into two categories: fixed expenses, which remain the same regardless of activity level, and variable expenses, which vary depending on the level of activity. Companies must carefully track and manage their expenses in order to maximize their profits.
This is because the increase in sales of $15,000 would result in an increase in contribution margin of $6,000 ($15,000 x 40%) which would exceed the additional advertising cost of $8,000. Therefore, the increase in advertising cost would result in a net increase of $2,000 in profits.
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Keisha Tombert, the bookkeeper for Vaughn Consulting, a political consulting firm, has recently completed a managerial accounting course at her local college. One of the topics covered in the course was the cost of goods manufactured schedule. Keisha wondered if such a schedule could be prepared for her firm. She realized that, as a service-oriented company, it would have no work in process inventory to consider. Listed below are the costs her firm incurred for the month ended August 31, 2020. Supplies used on consulting contracts $1,940 Supplies used in the administrative offices 1,700 Depreciation on equipment used for contract work 910 Depreciation used on administrative office equipment 1,450 Salaries of professionals working on contracts 16,400 Salaries of administrative office personnel 8,690 Janitorial services for professional offices 800 Janitorial services for administrative offices 580 Insurance on contract operations 880 Insurance on administrative operations 930 Utilities for contract operations 2,360 Utilities for administrative offices 1,930 (a) Prepare a schedule of cost of contract services performed (similar to a cost of goods manufactured schedule) for the month.
Answers
Answer:
$23,290.00
Explanation:
Preparation forn a schedule of cost of contract services performed
Supplies used on consulting contracts 1,940.00
Salaries of professionals working on contract 16,400.00
Service Overhead:
Janitorial services for professional offices 800.00
Insurance on contract operations 880.00
Utilities for contract operations 2,360.00
Depreciation on equipment used for contract work 910.00
Total service overhead 4,950.00
(800.00+880.00+2,360.00+910.00)
Cost of Contract Services Provided 23,290.00
(1,940.00+16,400.00+4,950.00)
Administrative expenses:
Supplies used in administrative offices 1,700.00
Depreciation on administrative office equipment 1,450.00
Salaries of administrative office personnel 8,690.00
Janitorial services for administrative offices 580.00
Insurance on administrative operations 930.00
Utilities for administrative offices 1,930.00
TOTAL 15,280
Therefore the schedule of cost of contract services performed will be 23,290.00