$5508 is ending inventory (rounded) under the average-cost method for July. The cost of goods sold is the amount of sales that the company incurred as a result of the sold products.
The cost of goods sold is the amount of sales that the company incurred as a result of the sold products. This is used to calculate gross profit, which is calculated as sales minus cost of goods sold.
The average cost method determines the cost of inventory items by dividing the total cost of goods purchased or produced in a period by the total number of items purchased or produced. The weighted-average method is another name for the average cost method.
$5508 is ending inventory (rounded) under the average-cost method for July.
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under which of the following circumstances would unethical behaviour more likely occur? select one: a. when employees are not well paid b. when others engage in unethical behaviour c. when there is lack of enforcement of the rules that do exist d. when there are too many rules
Option c. when there is lack of enforcement of the rules that do exist would unethical behaviour more likely occur.
Unethical behaviour is an action that falls outside of what is considered morally right or right for a person, a profession, or an industry. people can behave unethically, as can corporations, experts, and politicians.
Unethical conduct may be described as movements which are towards social norms or acts which might be considered unacceptable to the general public. ethical behavior is the exact opposite of unethical conduct.
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scent systems, inc is start-up company developing a system to deliver fragrances to buildings. the technology will allow for delivery of customized fragrances directly through a building's hvac systems. occupants of a room can customize and manage the scent of their room via their smartphone.the technology will be available soon and the company expects the first annual cash flow of $4500 to begin 5 years from today. cash flows are expected to increase at a rate of 3.00% annually forever. using a discount rate of 9.00%, what is the present value of the technology?
The main objectives of technology, which includes tools to promote growth, use, and information exchange, are to make labor easier and address many of humanity's problems. As technology advances and keeps making our lives easier, we must accentuate its benefits.
Explain about the value of technology?Technology offers students quick access to knowledge, rapid learning, and enjoyable opportunities to put what they have learned into practice. Particularly in STEM, it allows students to go deeper into challenging ideas and explore new disciplines.
The area of knowledge known as technology deals with the development of technical tools and how they interact with the environment. The improvements that technology has made to our lives include time savings, instant connection and interaction, a higher standard of living, simple information access, and safety.
These values may include freedom, justice, enlightenment, privacy, security, companionship, comfort, trust, autonomy, and nourishment in technologically advanced, liberal democracies.
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congress created the federal reserve system question content area bottom part 1 a. to process the receipt of taxes received by the internal revenue service. b. to regulate the value of the u.s. dollar against foreign currencies. c. to provide a source of mortgage loans to the residential housing market. d. to serve as a lender of last resort.
Bank runs caused by a particularly bad crisis in 1907 wrecked havoc on the frail banking system and eventually prompted Congress to draft the Federal Reserve Act in 1913.
In order to deal with these banking panics, the Federal Reserve System was initially established. It was established by the Congress to give the country a more secure, adaptable, and stable financial and monetary system. On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law, thereby establishing the Federal Reserve. The Federal Reserve Act was approved by the Senate and signed by President Woodrow Wilson on December 23, 1913, after several months of deliberation and almost entirely party-line vote. To promote economic stability, President Woodrow Wilson signed the 1913 Federal Reserve Act, granting the 12 Federal Reserve banks the authority to manufacture money. 1 The dual mandate was established by the Federal Reserve System to increase employment and control inflation. In order to maintain public confidence in the banking system, oversee and regulate the banking sector, and serve as a lender of last resort in times of financial emergency, the Federal Reserve was established in 1913. It helps to build and stabilize the monetary systems across the country. It manages the payment system, enforces consumer protection laws, regulates financial institutions, offers financial services to the government, and sets monetary policy of Congress.
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wonder company manufactures one product that sells for $90 per unit and has a contribution margin ratio of 35%. the company's fixed expenses are $46,800. if wonder desires a monthly target net operating income equal to 15% of sales, the amount of sales in units will have to be (rounded):
wonder company manufactures one product that sells for $90 per unit and has a contribution margin ratio of 35%.
The steps are listed below.
Providing the following details:
Sales= $640,000 ($40)
Total variable costs = 448,000 (28)
Margin of contribution = 192,000 ($12).
Fixed costs = (145,200)
$46.800 in net operating income
1) Use the following calculations to get the break-even point in units and dollars:
Break-even point in units = contribution margin per unit minus fixed costs
Break-even point equals 145,200 units (40-28)
Break-even point equals 12,100 units in units.
Fix expenses divided by contribution margin ratio is the break-even point in dollars.
Break-even point (12/40) = 145,200 dollars
The break-even mark is equal to $484,000.
2) The break-even point is the quantity of units that must be sold to generate a zero net profit. Since fixed costs cannot be changed, the contribution margin must match them.
Margin of contribution = 145,200
3) Gain = $75,600
Break-even point in units = contribution margin per / (fixed expenses + targeted profit)unit
Break-even point is 220,800/12 in units.
Break-even point equals 18,400 units in units.
Sales= 18,400*40= 736,000
Total variable expenses are 18,400*28. (515,200)
Margin of contribution = 220,800
145,200 in fixed costs
75,600 is the net profit
4) The safety margin
Risk of error = (current sales level - break-even point)
Margin of safety is equal to 640,000 - 484,000, or $156,000.
Break-even point divided by current sales level is the margin of safety ratio manufacture.
Ratio of the safety margin = 156,000 to 640,000
0.244 times the margin of safety equals 24.4%.
5) Ratio of contribution margin: 12/40 = 0.3
Net growth equals 96,000*0.3, or $28,800.
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discuss the major barriers to entry inro an industry. explain how each barrier can foster either monoploy or oligopoly. which barriers, if any, do you feel give rise to monopoly that is socially justifiable
The major barriers to enter into industry are explained below descriptively
1) Economies of scale – Due to cost advantages brought on by economies of scale, the market may not always permit the operation of more than one enterprise. This can result in monopoly.
2) High fixed costs – Since the majority of manufacturing requires certain fixed costs, a new company may not have them.
3) Patents: When a company has patent rights for a certain sort of goods, monopoly is unavoidably the result.
4) Ownership of specific inputs is necessary since output requires input. However, occasionally, a single company is the exclusive owner of the input needed to make the output. Additionally, a market monopoly may result from this.
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The multiplier is 5 and, as a result of a change in expenditure, equilibrium expenditure and real gdp change by $200 billion. What was the initial change in autonomous expenditure?.
Autonomous expenditures are those portions of an economy's total spending that are unaffected by that economy's actual level of revenue. This type of expense is seen as automatic and required both at the public and private levels.
Explain about the autonomous expenditure?
Simply put, autonomous expenditures are those that must be made regardless of income. When income is at zero, it is the amount that a person or the government must spend in order to survive.
Autonomous expenditures are those that are unaffected by the real level of revenue in the economy. The majority of external factors that affect autonomous spending include trade policy, political unpredictability, interest rates, etc.
Because of the multiplier effect, a change in autonomous expenditure will result in a considerably bigger overall change in real GDP. That expenditure's final effect on real GDP will be far more significant.
Hence the initial change in autonomous expenditure is $40
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the formal system of task and reporting relationships that coordinates and motivates an organization's members to achieve the company's goals is called the organizational . multiple choice question.
Based on organizational policy, this formal system that helps the organization to achieve the company's goal is called Organizational Structure.
What is Organizational Structure?Organizational Structure is a term that is used and applied by various firms to create, maintain, and achieve the organization's goal.
There are various types of Organizational Structures which include the following:
Hierarchical organizational structure.Functional organizational structure.Horizontal or flat organizational structure.Divisional organizational structures (market-based, product-based, geographic)Matrix organizational structure.Team-based organizational structure.Network organizational structure.Also, there are various elements of Organizational structure, which include the following:
Work specialization.Departmentalization and compartments. Formalization of elements. Centralization and decentralization. Span of control.Chain of command.Benefits of Organizational Structure include the following:Centralize the company's marketing message;Facilitate higher and increasing mobility for the company's progress;Create and promote strategic planning;Enhance worker's training and working conditionsImprove the decision-making processHence, in this case, it is concluded that the correct answer is Organizational Structure.
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as noted in your text, one of the biggest problems facing companies today is the aging workforce. more and more people are nearing or at retirement age, and companies are struggling to find workers who can take their places. what are some of the tactics companies might use to handle this problem? check all that apply. redesign jobs so they are more easily done by older employees. pay older employees more so they will continue to keep working. work to hire immigrants, who are typically younger than current residents of a country. use robots in place of human workers.
Sometimes recruiters and recruiting managers mistakenly feel that older workers are less progressive, less able to master new skills, or have unrealistic compensation expectations. However, age disparity is a notable problem that prevents some workers from comprehending their goal or forces them out completely.
Explain about the aging workforce affect the business?A more senior workforce increases the chance that companies will lose important personnel to illness or death, which might have an impact on customer retention, vendor relationships, operational efficiency, and even company secrets or financial data.
To aid employees in striking a better balance between their obligations at work and at home, employers should provide flexible work arrangements like job sharing, flexible scheduling, part-time employment, the opportunity to work from home, and other types of reduced work hours.
Physical and mental decline with age: As employees get older, they're more prone to experience health problems. Conflict between older and younger employees. Performance problems associated with novel methods of operation and a resistance to change on the part of senior employees
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Vulcan, inc. , has 7 percent coupon bonds on the market that have 13 years left to maturity. The bonds make annual payments and have a par value of $1,000. If the ytm on these bonds is 8. 4 percent, what is the current bond price?.
The cost of the bond right now is $891.74.
A zero-coupon bond is one in which the face value is paid back when the bond matures. Bonds with coupon values have annual interest payments.
Do safe coupon bonds exist?However, zero coupon bonds are not without risk. Zero coupon bonds are exposed to interest rate risk if you sell them before they mature, just like almost all other bonds are. If interest rates increase, your zero coupon bond's secondary market value is likely to decrease.
One explanation for the bond price is:
Given,
Discount rate is 7%.
Number of years till maturity (Nper) = 13
Par value is equal to $1,000 YTM, or 8.4%.
Annual coupon received (PMT):
PV of the coupon is calculated as follows: CP = $891.74
The bond's current value will be $891.74 as a result.
Bonds' recurring interest payments are represented by coupon rates, which are determined by market interest rates. The yield of a bond is the rate of return it produces. The annual interest rate that a bond pays is known as the coupon rate.
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assume that the ending merchandise inventory was accidently understated by $300. what are the correct amounts for cost of goods sold and gross profit?
Average inventory equals (Beginning inventory + Ending inventory) / 2, according to the formula. Knowing the formula alone won't get you very far, though. Your overall inventory strategy should include calculating average inventory.
What is the right formula to determine the average merchandise inventory?Average inventory equals (Beginning inventory + Ending inventory) / 2, according to the formula. Knowing the formula alone won't get you very far, though. Your overall inventory strategy should include calculating average inventory. Add the opening and closing inventories together, then multiply the result by two to get the average inventory. The daily inventory utilization is the outcome. The variance in average inventory may reflect the nature of the company and the degree of its volatility exposure.The ideal inventory turnover ratio for the majority of industries will be between 5 and 10, meaning the business will sell and refill inventory every one to two months. The optimal ratio will be higher for businesses that deal in perishable goods, like florists and supermarkets, to reduce inventory losses due to spoiling.To learn more about average merchandise inventory refer to:
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a company purchases a truck and records the cost in an asset account. that cost is gradually moved into an expense account as the truck benefits the company over several accounting periods. this process is referred to as
When a business buys a truck, the cost is added to the asset account. As the truck brings value to the business over numerous accounting periods, that cost is gradually transferred into an expenditure account. Depreciation is the name given to this process.
An asset loses value over time as a result of use, damage from use, or obsolescence. Depreciation is the measurement for this decline. Depreciation, or the decline in value of an asset, can also result from other factors, such as unfavorable market conditions, etc.
An example of depreciation: If a firm buys a delivery truck for Rs. 100,000 and expects to use it for 5 years, the company may depreciate the asset as a depreciation charge of next five years, pay Rs. 20,000 annually.
The income statement for practically every business includes depreciation. Since it is recorded as an expense, it should be taken into consideration anytime an item is calculated for year-end tax purposes or to assess whether it is still viable for liquidation.
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the change in total output resulting from a one-unit increase in the quantity of an input used, holding the quantities of all other inputs constant, is:
marginal product is the correct answer .
What is marginal product ?
This connection is calculated using the marginal product method by dividing the entire change in output by the total change in a certain input. In other words, when the total product curve is plotted with the specific kind of input on one axis and the amount of production on the other, MP is equal to the slope of the curve.
It's crucial to maintain all other inputs identical and just study one input at a time. Each input is segregated in this manner, allowing for adequate testing. Additionally, remember that MP is quantified in physical quantities. The concept of a fraction of an input does not exist.
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Which of the following can an ATM at your bank be used for?
To check your debit card with a bank teller is an ATM at your bank be used for. An automated teller machine, or ATM, is a customized computer that makes it simple for bank account holders to manage their money.
One can use it to print a statement of account activity or transactions, check account balances, withdraw or bank deposit money, and even buy stamps. ATMs come in two main categories. Customers only have access to cash withdrawals and account balance updates in basic units. The more sophisticated machines enable line of credit payments and transfers, receive or debit deposits, and access account data.
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what groups of contacts are most valuable as advisors for student-owned startups? select all that apply. group of answer choices employers from internships faculty classmates
A productive team in the workplace is one that is focused on outcomes. Your startup needs a team of individuals that are truly unconventional thinkers. These professionals ought to be prepared to offer answers that you as an entrepreneur as a person cannot.
What position in a startup is most crucial?The visionary is a common term used to describe the chief executive officer (CEO) of a business. the pack's ringleader the person who decides. Their talent consists in having ambitious goals and having a strong sense of what the business can accomplish in the future. A productive team in the workplace is one that is focused on outcomes. Your startup needs a team of individuals that are truly unconventional thinkers. These professionals ought to be prepared to offer answers that you as an entrepreneur as a person cannot. Bad leadership, poor planning, failing to differentiate a product or service from those already on the market, disregarding client demands, and failing to learn from mistakes are all common issues with startups.
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multiple choice question which statement in true about business relationships in supply chains? multiple choice question. they are always close working partnerships. they must be between divisions of the same firm. they are based on meeting each other's needs. they must be between independent entities.
relationships in supply chains are based on meeting each other's needs.
A supply chain is a network made up of all the individuals, organizations, enterprises, assets, tasks, and technical developments involved in the manufacture and distribution of an item. A complete supply chain is included, from the transfer of raw materials from the supplier to the production to the last delivery to the customer. Supply chain activities include, among others, designing, farming, manufacturing, packaging, and transportation.
Anything can travel without incident thanks to supply chain management, even goods, and any unanticipated natural disaster. Global logistics management is the responsibility of supply chain managers. With skilled supply chain management, managers can promptly spot problems or interruptions in the smooth transportation of goods.
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what are the nominal and effective costs of trade credit under the credit terms of 1/20, net 40? assume a 365-day year. do not round intermediate calculations. round your answers to two decimal places. nominal cost of trade credit: % effective cost of trade credit: %
A product's value expressed in terms of money, such as dollars, French francs, or yen, is known as its nominal price.
0.18434343434% is the nominal cost of trade credit.
Effective trade credit cost: 18.25%
What is nominal credit cost?A product's value expressed in terms of money, such as dollars, French francs, or yen, is known as its nominal price. Its relative or actual price is determined by how valuable it is in comparison to another good, service, or group of goods.
nominal cost of credit cost
Discount rate/(1-discount rate)*(365/(full payment days -discount payment days))
=1%/(1-1%)*(365/(40-20))
0.18434343434
effective cost of trade cost
(1+discount rate/1-discount rate)365/(full payment day-discount payment days)
=[tex](1+1%/1-1%)365(40-20)[/tex]%/1-1%)365(40-20)
=-1=18.25
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according to duffy fashion bloggers often group of answer choices go to school to learn how to blog are fresh out of school but have no experience have experience in fashion, journalism, design and/or marketing are novices without training or experience
According to Duffy fashion bloggers have experience in fashion, journalism, design and/or marketing.
A fashion blogger is someone who posts fashion and style-related articles, outfit photographs, and videos on their site. A fashion blogger is essentially a cross between a model, journalist, and stylist. A fashion blog might discuss a variety of subjects, including specific clothing and accessory products, beauty advice, developments in the apparel industry, celebrity style decisions, and street styles. From the biggest fashion design studios to the smallest freelance designers, they cover fashion at all levels. Like the contents of fashion magazines, many fashion blogs might also be labelled as shopping blogs. A few fashion retailers have created blogs to advertise their goods.
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xyz company goes public at a public offering price of $31. several days later, the stock has increased to $43. if the underwriters decides to exercise the greenshoe clause, what price will investors pay for those shares?
The amount investors will pay is $31.
What is Greenshoe clause ?An initial public offering (IPO) greenshoe option permits the consortium of investment banks to purchase and offer for sale 15% more shares at the same offering price than the issuing firm initially intended to sell. If there is greater than expected demand for shares and the stock is trading above the offering price on the secondary market, the clause comes into play. The syndicate does not exercise its option for additional shares if there is insufficient demand and the stock price drops below the offering price.
The Green Shoe Company, which was the first to agree to sell more shares when it went public in, gave its name to this contract clause, which may be used for up to 30 days following the IPO.
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use the data from the u.s. bureau of labor statistics to answer the questions. round your answers to two decimal places. type of worker number of individuals in 2009 number of individuals in 2018 working-age population 236 million 258 million unemployed 14 million 6 million employed 140 million 156 million a. what was the size of the labor force in each year? labor force in 2009: million pe
The size of Labor force in 2009: 154.3 million and The size of Labor force in 2018: 162.3 million.
The labor force includes the employed and the unemployed who are looking for work actively. The discouraged workers, retired population, and homemakers not working are excluded from this. The labor force participation rate determines the health of an economy. This rate is computed and published by the Bureau of Labor Statistics (BLS) in the US.
The unemployed individuals who want a job, but have not been looking for it in the previous month, are not included in the labor force. A nation’s productivity, competitiveness, and efficiency are highly dependent on the quantity and quality of its labor force.
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which of the following statements is true of organizations that practice the entitlement approach? question 32 options: employee rewards are determined only on the basis of employee performance. employee rewards vary little from person to person and have little to do with differences in individual performance. employee rewards are determined on the basis of results and contributions made by employees. employee rewards vary significantly from person to person because of managers' biases.
Employee rewards are determined only on the basis of employee performance.
Employment is a courting between events regulating the availability of paid labor services. Normally primarily based on a contract, one party, the corporation, which might be an agency, a not-for-profit employer, a co-operative, or any other entity, pays the alternative, the worker, in return for sporting out assigned work. Employees paint in return for wages, which may be paid on the premise of an hourly price, via piecework or an annual income, relying on the form of paintings an employee does, the triumphing situations of the sector, and the bargaining power between the parties. Employees in some sectors may additionally obtain gratuities, bonus payments, or stock alternatives. In some sorts of employment, personnel may get hold of blessings further to price.
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a detailed plan used by a merchandising company that shows the amount of goods that must be purchased from suppliers during the period is called a(n) budget
Merchandise Purchases Budget is a detailed plan used by a merchandising company. The budgeted sales and the intended ending inventory may be added together, and the initial inventory can be subtracted to get this answer.
What is Merchandise Purchases Budget ?The process of creating a budget for a service or merchandising company is comparable to that used by manufacturers. A service or retail business won't have a budget for manufacturing or direct materials, and it's possible that it won't have one for direct labour or overhead.
The main distinction is that even when we don't have a budget for production or material purchases, we still need to know how much inventory we should acquire for a merchandiser.
The quantity of goods that a business must acquire during each budgetary period is specified in a procurement budget. The amount specified in the budget is the amount required to guarantee that there is enough inventory on hand to fulfil product requests from customers.
The budget for purchasing might be as straightforward as just matching the precise number of units anticipated to be sold within the budget period. However, there are a few extra factors to take into account that could make the budget for purchases much more difficult.
Purchasing merchandise from producers to sell on their behalf is a crucial aspect of retail management that entails retailers finding the products they need.
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Question 5 of 10
The initial amount you borrow in a loan is called the ____
A. collateral
B. simple interest
C. loan term
D. principal
The initial amount you borrow in a loan is called the principal.
What is a loan?A loan is described as money that is borrowed from another person or any financial institution. It is important to mention that the loan can also be in the form of material goods, or any property. However, the repayment of a loan includes payment along with interest.
The amount borrowed in a loan is the original sum of money, and that money is called the principal. This is the amount along with the added interest that a borrower has to repay.
It can be concluded that the initial amount you borrow in a loan is called the principal.
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Answer:
D. principal
Explanation:
which of the following would decrease the supply of sugar? group of answer choices the price of artificial sweeteners rises dramatically. the demand for sugar increases. a technological advance lowers the cost of producing sugar. the tariff (tax) on imported sugar increases.
Decrease the supply of sugar the tariff (tax) on imported sugar increases.
What is supply?
Supply in economics refers to the amount of a commodity that firms, producers, labourers, financial asset providers, or other economic agents have willing and able to deliver to the market or to an individual. Supply can be in the form of manufactured items, labour time, raw resources, or any other rare or valued item. Supply is frequently graphed as a supply curve, with the unit price on the vertical axis and the quantity delivered as a function of price on the horizontal axis. This reversal of the dependent and independent variable's typical positions is an undesirable but standard convention.
The supply curve might be for a single vendor or for the marketplace as a whole, with the quantity given by all sellers added up.
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client-side marketing researchers who are planning to conduct research on behalf of their own companies are often required to submit proposals prior to conducting research. true false
Client-side marketing researchers are frequently obliged to submit proposals before beginning research if they intend to carry out studies on behalf of their own companies is True
Explain about the Market research proposal?
The purpose of a market research proposal is to offer your services to potential clients by outlining the benefits of working with you on their project or research study.
Making crucial business decisions, obtaining investments and funding, identifying new company prospects, and even preventing business disasters are some of the broad objectives that market research may assist firms in achieving.
In roughly 3-5 pages, the proposal should cover the problem statement, objectives, research methodology, research activities, and a timetable. Here is a sample proposal that you can use as a guide. Every building project is different from the next, and each one has its own operating environment and set of technical specifications.
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the city of madison funded the redevelopment of a blighted area of the city with the objective of revitalizing it. funding was approved to clean up the site, build up flood zones, build water retention ponds, and run the sewer, water, and electric utilities to the site. five years into the project, it was clear that no commercial or residential developers were interested in developing on the site. what should the city of madison have done before funding and completing the redevelopment?
The city of madison performed an independent feasibility study early on before funding and completing the redevelopment.
Funding is the act of presenting assets to finance a need, program, or project. while this is normally inside the form of cash, it may also take the form of effort or time from an company or corporation.
And below equity funding, there are 3 types of investment that are project Capital price range, non-public equity funds, and Angel investors. while seeking out the proper types of investment and investors, the organisation ought to enhance price range from companies which have each the significant community and problem matter information within the enterprise.
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which meeting format would a meeting planner set up a room if the delegates needed to take notes, use notebooks, and conduct a workshop type of meeting?
The meeting planner would set up the room in a workshop format.
What is meeting planner?
A meeting planner directs and manages the strategic, operational, and logistical operations associated with event production. Corporations, associations, governments, and other organisations can hire the planner on an as-needed basis. Although the United States Department of Labor and Employment and Training Administration's Occupational Information Network defined this occupation as "meeting and convention planner," alternative titles are more widely used. Event planner, meeting planner, and meeting manager are examples of these titles. In addition, titles relevant to the types of events produced, such as business planner and party planner, are utilised.
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Find a government regulation imposed by the commonwealth of virginia that addresses a market failure. identify the agency that enforces the regulation and describe how it protects consumers, workers, or the environment.
The Virginia Consumer Protection Act was first proposed in 1977. The intent behind this act is to promote fair and ethical standards of dealings between suppliers and the consuming public. The Act covers a number of consumer transactions. It includes advertising, and the sale of goods and services for personal or household uses.
A consumer is a person who acquires and uses or consumes a product for their own use. Consumers cannot resell goods, products, or services, but they can consume them to earn a living or self-employment. Consumer definition. Consumers are the end users of goods and services.
Consumers in the food chain are animals that eat organisms from another population. Consumers are heterotrophs and producers are autotrophs. Both are organisms that draw energy from other organisms. Consumer means an individual or group who intends to order or use the purchased goods, products, or services primarily for personal, social, familial, domestic, and similar needs. Yes, and not directly related to entrepreneurial or business activities.
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publix is attempting to forecast sales for a new ice cream cake. to come up with an accurate forecast, publix places the product in atlanta supermarkets for a period of four months. in this instance, publix is using which forecasting method?
For a new ice cream cake, Publix is attempting to predict sales. For a period of four months, Publix places the product at supermarkets in Atlanta. Publix use the market test forecasting technique.
Prior to the commercialization (launch) of a new product, an experiment called a "market test" is undertaken to ascertain information about the product, such as: Is the product the proper one? Does the product have a fair price? etc. The company can either accept or reject the product proposal in light of these facts.
One technique utilized as part of the market test is test marketing. Another technique for predicting sales is test marketing, in which a new product is introduced in specified geographic areas that are indicative of the final market in order to assess the viability of the offering and the level of interest among the target market.
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8. an airline sells 120 tickets for a flight that seats 100. each ticket is non-refundable and costs $250. the unit cost of flying a passenger (fuel, landing fees, etc.) is $110 and assumes that every flight is full. if the flight is overbooked, each person who does not get a seat is given $400 in cash. assume it is equally likely that any number of people between 91 and 120 show up for the flight. rounded to the nearest thousand, what is the average expected profit the flight will generate? $10,000 $14,000 $16,000 $22,000
The average expected profit the flight will generate = $14000
total ticket sell 120
per ticket cost $250
total earning by selling = 12*250 = $3000
unit cost of flying a passenger is $110
cost of flying for 100 passenger = $110*100 = $11,000
Let x represent the passenger count between 91 and 100.
if 91\leq x\leq 100 , therefore all passenger get the seat
hence profit of the airline is 11000 - 80×X
if 101≤X≤120 then (x-100) will not get the seat
therefore airline has to pay $400(x-100)
profit for the airline will be = 3000 - 11000 - 400(x-100)
= $12000 - $400x
Calculate the average airline profit by adding 91 to 120 and dividing by 120 to arrive at 92=1.
1÷30 (∑ (3000- 110x) + ∑ ($12000 - $400x)
after solving we get
= $14000
what is average expected profit?
The likelihood of making a profit is multiplied by the payoff's profit to determine expected profit, and the probability that specific costs will be incurred is multiplied by the cost to determine expected cost. By dividing the profit amount by the likelihood of realizing that profit, one can determine the expected profit under a probability demand distribution.
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if the exchange rate between the u.s. dollar and the japanese yen were such that one u.s. dollar equals 100 yen, what would be the price in dollars of
1 yen is roughly equivalent to 1 cent; 5 yen is approximately 5 cents; 10 yen is approximately 10 cents; 50 yen is approximately 50 cents; $1.00 is equivalent to 100 yen; and $5.00 is equivalent to 500 yen.
How do you convert yen to USD?
The currency exchange rate for the Japanese yen and the United States dollar is known as USD/JPY.The currency pair depicts the quantity of Japanese yen (the quote currency) required to acquire one US dollar (the base currency).
How do I manually exchange yen for dollars?
Divide 500 by if you have 500 yen.01271.In this instance, 500 yen equals $6.35.Most cash trade locales have money trade mini-computers to figure it out for you.
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