Find the average variable cost for producing 18 sneakers. Round your answer to the nearest hundredth.
Answers
Answer: $2.78
Explanation:
Average variable cost is calculated by dividing the total variable cost of producing a certain number of units of a good by that same number of units.
Average variable cost = Variable cost of producing 18 sneakers / 18
= 50 / 18
= 2.7778
= $2.78
Related Questions
Bob is the vice-president of a medium sized company in a suburb of Seattle. He has two new cars, a large home with a sauna, new clothes, and takes many trips with his family. He also carries $21,000 of debt on his credit cards and struggles to make his payments. Bob would be considered part of which social class
Answers
Answer: None of the above
Explanation:
The options are:
-none of the above
-working poor
-working class
-underclass
The working poor are those that are working but their income is below the poverty line.
The working class consists of the people whom are semi skilled, unskilled or industrial workers.
Underclass is made up of the poor and the unemployed.
Based on the information above, Bob doesn't fit into any of the above description.
H2 O'Yeah has designed a water purification device that is drastically different and far superior to any product currently on the market. Although consumer response was positive to the idea of the new product, management wants to find out more before committing to full-scale production. The next step H2 O'Yeah's marketing department is likely to take is to Multiple Choice locate a low-cost production site. seek a joint venture with a larger competitor. test market the product among potential users. develop an advertising campaign to persuade consumers of the value of the new water purifier system.
Answers
Answer:
test market the product among potential users.
Explanation:
In the context, it is given that a water purification device manufacturing company, H2 O'Yeah had designed a purification device which is far more better and efficient than any other water purification device currently present in the market.
The customer response about the design of the new purification device was also positive. But before going for mass production of the device, the company, H2 O'Yeah wanted to find out more about the customer 's response and so they are going to test market the device among the potential customers and will take their feedbacks and advices before full scale production.
It is an efficient way for a successful development of a product and knowing about the feedback about the customers.
Therefore the correct answer is "test market the product among potential users."
If velocity is constant and, in addition, the factors of production and the production function determine real GDP, then: Group of answer choices nominal GDP is fixed. the price level is proportional to the money supply. real GDP is proportional to the money supply. the price level is fixed.
Answers
Answer:
the price level is proportional to the money supply.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
The four factors of production are;
I. Land: this refers to the natural resources and raw materials extracted from the ground or grown in the soil e.g oil, gold, rubber, cocoa, etc.
II. Labor (working): this is the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
III. Capital resources: it includes the physical assets used for production of goods and services such as equipment, money, plant, etc.
IV. Entrepreneurship: it is intellectual capacity required to drive a business and the skills to develop an idea into a money making venture (business).
These four (4) factors of production when combined effectively and efficiently are used for the manufacturing or production of goods and services that meets the unending requirements or needs of the consumers.
In Economics, if velocity is constant and, in addition, the factors of production and the production function determine real gross domestic product (GDP), then the price level for goods and services is said to be directly proportional to the money supply in the economy.
who benefits from a loan?
A - only the person who is given the loan by a bank?
B - only the bank who gives the loan to a person
C - both the person who gets the loan and the bank that loans the money
D - no one benefits when a loan is given out
Answers
Answer:
C
Explanation:
The person gets money to spend, then over time the bank will earn that money back from the same person. So I'd say both benefit.
Waterway Company uses the percentage of receivables method for recording bad debt expense. The accounts receivable balance is $602000 and credit sales are $2680000. Management estimates that 3% of accounts receivable will be uncollectible. What adjusting entry will Waterway Company make to record bad debt expense if the Allowance for Doubtful Accounts has a $5000 credit balance before adjustment
Answers
Answer:
Estimated uncollectible account at end = $602,000 * 0.03
Estimated uncollectible account at end = $18,060
Bad debt expense to be recorded = Estimated uncollectible - Balance in allowance account
Bad debt expense to be recorded = $18,060 - $5,000
Bad debt expense to be recorded = $13,060
Date Journal Entry Debit Credit
Bad Debt Expense $13,060
Allowance for Doubtful Accounts $13,060
In an examination evaluation expert system, the _____ component of the expert system is responsible for stating why a loan applicant was approved or rejected.
Answers
Answer:
The missing phrase is Explanation Facility.
Complete Sentence:
In an examination evaluation expert system, the Explanation Facility component of the expert system is responsible for stating why a loan application was approved or rejected.
Explanation:
An expert system is a computer system program that can do the job of a human expert whose role is to give professional opinions, judgments, or advice regarding an issue. These systems are associated with Artificial Intelligence.
In other to create this kind of system (which has the capacity to solve complex problems) AI programmers use a collection of knowledge stored or codified in if-then formats or rules
In expert systems, an explanation facility is a function that allows non-artificial users to query the veracity of the system's reasoning. Usually, the system would make reference to its frame of logical construct, its rules, and or goals.
Cheers
calculate minimum stock level
Answers
Answer:
Formula to determine the minimum stock level
The minimum stock level can be determined by applying the following formula: Minimum Stock Level = Re-order Level – (Normal consumption per day/per week, etc. X Normal delivery time).
BMW has announced changes to its 3-series models for the upcoming year. The changes include reduced weight, improved aerodynamics, and enhanced driving dynamics. In addition, consumers will have the option of purchasing the vehicle with or without all-wheel drive. How would you classify BMW's 3-series vehicles
Answers
Answer:
Improvements or revisions of existing products
Explanation:
The creation of new series or models of a product might see companies go all out to make wholesale changes which will be like a complete overhaul of the precious or current model or companies may opt for a mild changes in the existing product such as allowing for more variant, upscaling on the current model which will be termed as a sort of upgrade or improvement on the existing product. Based on the changes reported about the upcoming BMW 3 series, we can see from the changes made that there are no design or whole sale changes in the series, just an improvement in functionalities and more variant option of the existing model.
. Super Fine Rice Ltd. Has the largest share of 55% in the market. The company's policy is to sell only for cash. In 2015, for the first time company's number one position in the industry has been threatened because other companies started selling rice on credit* also. But the managers of Super Fine Rice Ltd. Continued to rely on it's previously tried and tested successful plans which didn't work because the environment is not static. This led to decline in sales of Super Fine Rice Ltd. The above situation is indicating two limitations of planning which led to decline in it sales. Identify and explain these limitations
Answers
Answer: 1. Planning should not be rigid.
2. Planning does not guarantee success
Explanation:
The limitations of planning which led to decline in it sales are that planning should not be rigid and that planning doesn't always guarantee success.
Planning brings about rigidity. A plan that well defined is usually Dewan along with the goals that needs to be achieved and this is used in deciding the future curse of action that'll be taken. This can bring about rigidity in the organization. In this case, the managers of Super Fine Rice Ltd. continued to rely on it's previously tried and tested successful plans which didn't work because the environment is not static.
Also, planning does not guarantee success. Success can only be achieved in a situation whereby the plans are implemented properly. A plan that isn't implemented and translated into action will become meaningless.
Taco Hot Dogs, Inc., regularly advertises its products. Under the First Amendment, in comparison with noncommercial speech, the protection given these ads is
Answers
Decisions related to _____ are considered semistructured decisions at the operational management level of an organization.
Answers
Answer:
accounts receivable
Explanation:
It should be noted that Decisions related to accounts receivable
are considered semistructured decisions at the operational management level of an organization.
Operations management can be classified as one having three levels, which are ;
✓strategic
✓tactical,
✓ operations.
For company to achieve set goals, operations managers needs to develop strategies and make decision.
Semistructured decisions can be regarded as decisions that lies between structured as well as unstructured decisions, it requires some human judgment as well as some agreement on the solution method at same time. Semistructured decisions can as well be regarded as those ones whereby only part of the problem posses a clear-cut answer which is provided by particular accepted procedure. Accounts receivable (AR) can be regarded as the balance of money that is been due to be paid to firm the company in exchange for goods or services that is been delivered but has not yet paid by customers to the company. On balance sheet, accounts receivables are listed as current asset.
Universal Containers sells through many different reseller networks. Each reseller's deals are tracked on separate opportunities. The sales manager is concerned that the pipeline report is not accurate due to multiple opportunities for the same end customer. How should the sales process be modified to ensure opportunities are not double-counted in the pipeline
Answers
Answer: change the forecast category to omitted on the duplicate opportunities
Explanation:
The sales process should be modified to ensure opportunities are not double-counted in the pipeline by changing the forecast category to omitted on the duplicate opportunities.
When this is done, the multiple opportunities for the same end customer will be curtailed and hence, there'll be accuracy with regards to the pipeline report.
The contract Jack is signing has a clause that protects his assets from a deficiency judgment in case of foreclosure. What is this called?
Answers
Answer:
exculpatory clause
Explanation:
Exculpatory clause in contracts is a clause that protects the person issuing it from liabilities of damages to an asset that may not be in their possession or out of their control. It prevents one party from the holding the other liable for damages to an asset during the execution of a contract. This is what Jack has done to protect himself from the liabilities that may result from any damages during the contract.
A sales invoice included the following information: merchandise price, $9,900; terms 1/10, n/eom, FOB shipping point with prepaid freight of $1,100 added to the invoice. Assuming that a credit for merchandise returned of $900 (before discount) is granted prior to payment and the invoice is paid within the discount period, what amount of cash should be received by the seller
Answers
Answer: $10010
Explanation:
The amount of cash that should be received by the seller will be:
($9900 - $900) = $9000
$9000 × 1% = $90
$9000 - $90 = $8910
$8910 + $1100 = $10010
Therefore, the amount of cash should be received by the seller will be $10010.
Classical economist David Hume observed that as the money supply expanded after gold discoveries it took some time for prices to rise and in the meantime the economy enjoyed higher employment and production. This is inconsistent with monetary neutrality because monetary neutrality would mean that a. the prices should have risen, but production should not have changed. b. neither prices nor production should have risen. c. production should have risen, but prices should not have. d. the prices and production should both have fallen.
Answers
Answer:
a. the prices should have risen, but production should not have changed.
Explanation:
In the case when the money supply is expanded after considering the discoveries of gold so here the prices are increased due to which the economy as the higher employment and the production level. But it is not consistent with the monetary neutrality as the prices are increased but the production level remain same or unchanged
The main outputs of which process are a quality management plan, quality metrics, project management plan updates, and project documents updates?
Answers
Answer:
Process asset updates.
Explanation:
Quality assurance assessments, validated modifications, authenticated deliverables, performance at work indicators, configuration management, project management plan modifications, project document security patches, and organisational process asset updates are the key outputs of quality assurance.
Performed services for $25,000 cash. Purchased land for $6,000 cash. Hired an accountant to keep the books. Received $50,000 cash from the issue of common stock. Borrowed $5,000 cash from State Bank. Paid $14,000 cash for salary expense. Sold land for $9,000 cash. Paid $10,000 cash on the loan from State Bank. Paid $2,800 cash for utilities expense. Paid a cash dividend of $5,000 to the stockholders.
Answers
Answer:
a.
1. Operating Activities (OA)
2. Investing Activities (IA)
3. Not Applicable (NA)
4. Financing Activities (FA)
5. Financing Activities (FA)
6. Operating Activities (OA)
7.Investing Activities (IA)
8. Financing Activities (FA)
9. Operating Activities (OA)
10. Financing Activities (FA)
b. Ending Cash Balance $60,200
Explanation:
a. To Indicate how each of the events would be classified on the statement of cash flows as OPERATING ACTIVITIES (OA), INVESTING ACTIVITIES (IA), FINANCING ACTIVITIES (FA), or NOT APPLICABLE (NA).
1. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)
2. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)
3.Based on the information it these transaction will be classified as NOT APPLICABLE (NA)
4. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)
5. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)
6. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)
7. Based on the information it these transaction will be classified as INVESTING ACTIVITIES (IA)
8. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)
9. Based on the information it these transaction will be classified as OPERATING ACTIVITIES (OA)
10. Based on the information it these transaction will be classified as FINANCING ACTIVITIES (FA)
b. Preparation of a statement of cash flows for 2018. Assume All-Star Automotive Company had a beginning cash balance of $9,000 on January 1, 2018.
STATEMENT OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES:
Cash receipts from revenue: $25,000
Less Cash payment for salary expense ($14,000)
Less Cash payments for utilities expense ($2,800)
Net cash flow from operating activities $8,200
CASH FLOWS FROM INVESTING ACTIVITIES:
Cash from the sale of land $9,000
Less Cash paid to purchase land ($6,000)
Net cash flow from investing activities $3,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash receipts from stock issue $50,000
Add Cash receipts from loan $5,000
Less Cash payment on loan ($10,000)
Less Cash payments for dividends ($5,000)
Net cash flow from financing activities $40,000
Net increase in cash $51,200
($4,200+$3,000+$40,000)
Add Beginning cash balance $9,000
ENDING CASH BALANCE $60,200
Therefore the statement of cash flows for 2018 Ending Cash Balance is $60,200
what is the meaning of code of conduct in profeession??
Answers
Answer:
Professional codes of conduct draw on these professional ethical principles as the basis for prescribing required standards of behaviour for members of a profession. They also seek to set out the expectations that the profession and society have of its members.
How does data analytics play a vital role in today’s business world? Multiple Choice By allowing data to be organized into predefined tables and fields. By defining three main categories of classes that help organize a company’s data structure models. By examining data to generate models for predictions of patterns and trends. By capturing the ever-increasing transaction activity of large companies.
Answers
Answer:
C. By examining data to generate models for predictions of patterns and trends.
Explanation:
Business data analytics can be regarded as practice whereby
specific set of techniques as well as competencies and procedures are put into application in order to perform the continuous exploration as well iteration, and investigation regarding past business days and current one, so that insights about a business which brings about improved decision making can be obtained, and models that can predicts patterns and trends can be generated. It should be noted that data analytics play a vital role in today’s business world by examining data to generate models for predictions of patterns and trends in business.
The period of time in which people starting a new job adjust and "settle in" is called the: A. the assimilation process. B. the socialization process. C. probationary period. D. workplace networking
Answers
Answer:
A. the assimilation process.
Explanation:
It is correct to state that the period of time in which people start a new job, adjust and settle down is called the assimilation process, which corresponds to a process in which the individual adapts to changes that will impact their way of living in society.
A new job, therefore, is an example of an assimilation process as a company has its own rules and regulations that an individual will have to assume when gaining a new position. Therefore, there is assimilation and adaptation to the new environment, rules and interpersonal relationships.
Christina owns a boutique and is ordering jewelry made using semi-precious stones from a supplier in Mexico. Due to low wages in Mexico, her supplier promised an excellent wholesale price for these goods. You agree with Christina when she explains to you that international business law is very clear-cut with these dealings. As long as the supplier is not breaking any labor laws in his country, her social responsibility is covered. Group startsTrue or False
Answers
Answer:
True
Explanation:
Christina is buying jewelry from a supplier in Mexico. She is buying the jewelry at minimum possible quoted price. The wages in Mexico are low due to the presence of large number of labors. The supplier is not breaking any labor law in the country so Christina does not have more responsibility to identify whether supplier is following all laws or not.
If an insurance policy covers individual losses up to $2000 and has a deductible of $200, the insured will be paid how much in the event of a covered loss of $2500
A. $2,300
B. $2,000
C. $1,800
D. $2,500
Answers
The amount that the insured will be paid in the event of a covered loss of $2500 is: C $1,800.
Insurance policyUsing this formula
Amount=Amount covered -Deductible
Let plug in the formula
Amount=$2,000-$200
Amount=$1,800
Therefore the correct option is C.
Learn more about insurance policy here:https://brainly.com/question/25855858
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Based on the substitution effect, which example reflects how people would likely respond to a rise in gas prices
Answers
Answer:
People will purchase more fuel efficient cars
Explanation:
People will purchase more fuel efficient cars in order to reduce the consumption of gas.
Better still, this will also leads to increase in the quantity demanded for electric cars; as they did not require gas to operate.
True or false: Merchandise inventory is generally converted to cash more quickly than accounts receivable.
Answers
Answer:
False
Explanation:
Merchandise inventory is the stock that company have to kept in its godown while the account receivable is that when company sold the goods on credit basis to the customer
So here the company could received the payment within 12 months it can be in within month also
So the given statement is false
which is an advantage of doing an apprenticeship program
Answers
Answer:
Answer to the following question is as follows;
Explanation:
An apprenticeship programme is a type of training programme in which students gain work experience while still taking courses. Apprenticeships are usually compensated. The advantage of taking an apprenticeship programme, according to the same, is that you generate income while learning specialised job skills.
Answer:
You earn money while you learn specific career skills.
Explanation:
Rockwood International needs to make risky decisions on a daily basis. Therefore, its managers are likely to
Answers
Answer:
Centralize decision making
Explanation:
From the question we are informed about Rockwood International who needs to make risky decisions on a daily basis. Therefore, its managers are likely to Centralize decision making.
Centralization can be regarded as setup whereby decision-making powers are been concentrated or given to few leaders that are on top of the organizational structure. Decisions making are been carried out at the top then communicated to lower-level managers so that implementation can take place.
Doris is a member of a team that works to seamlessly execute a large company’s annual shareholder meeting and quarterly board meetings on an ongoing basis. Doris is an employee in the investor relations department of the company. The team also includes Don from IT, Sally from Communications, Editha from event management, Saul from security, Tony from catering, Rob from transportation services and Lola from Marketing. This team is an example of what kind of team?
Answers
Answer: Cross functional team
Explanation:
Cross functional team could be defined as a team of people from their parent department in an organization, coming together to work for another purpose. This is a scenario were people in addition to their existing department's in organization work for another function. This works for short term committee, to meet up a project or task.
June enters into a contract with Steeley Company to purchase a washer and dryer. She doesn’t understand the financing terms but signs the agreement anyway because she needs the appliances. The financing terms violate state laws on interest rate limits and she is unable to make all of her payments when they are due. Steeley sues when June breaches the contract. The court would:
Answers
Answer: be exercising judicial restraint if it requires June to pay as she promised, even if the agreement was unfair and unwise.
Explanation:
Judicial restraint simply means a situation whereby judges aren't allowed to inject their own preferences into rulings and legal proceedings. It simply means that judges should limit exercising their own power during legal proceedings.
In this case, since June doesn't understand the contract but still signed, the court would be exercising judicial restraint if it requires June to pay as she promised, even if the agreement was unfair and unwise. It's advisable for the court not to interfere in the matter and follow the normal proceedings.
Producers in the market economy are competing for customers, so they often have _________________________ than other types of economies.
more governmental regulation
less property ownership
less variety of product
lower prices
Answers
Answer:
lower prices
Explanation:
A market economy is an economy where production decisions are made by the forces of demand and supply. there is no intervention of the government in production decisions
Characteristics of a pure market economy
• Private ownership of means of production
• freedom of choice. Producers are free to produce what they desire
• competition among producers
• no government intervention.
Due to the fact that producers compete with each other in this type of economy, prices would be lower to attract customers
Which type of retailer offers a wide choice of products and high-quality service?
Answers
Answer:
Department store
Explanation:
Stores may be categorized based on the type and variety of goods which they offer. Department stores may be described as a retail store or opening which is designed to offer a wide range of consumer products. Department stores on their case offers several categories of consumer products and are thus segmented based on these categories :
Categories of consumer product offers may include ; Clothing ; Electronics ; Mobile devices ; Furniture, Groceries and so on. With department stores, consumers can have almost all their retail needs met all in one place.
