Response:
Refer to the explanation section
Clarification:
The disparity between the inventory count recorded and the actual count suggests that the goods in stock have either been sold or lost. For the sake of ongoing operations, it is presumed they have been sold. Accordingly, the journal entry to document the sale is -
December - 31 Cost of goods sold Debit 45,000
($415,000 - $370,000)
Merchandise Inventory Credit 45,000
(To record the sale of merchandise: adjusted)
Answer:
c. strategic network.
Explanation:
The relationship detailed in the question exemplifies a strategic network. This concept involves the organized collaboration among independent firms, fostering enduring business relationships, communication, and cooperation among the network participants, which is precisely the situation between Toyota and its suppliers.
Answer:
(b) macaroni is categorized as an inferior good, and the price elasticity of supply is zero.
Explanation:
An increase in income by 10 percent results in a 15% reduction in the demand for macaroni and cheese without any change in price. This suggests that macaroni is indeed an inferior good with zero price elasticity of supply.
Inferior goods experience lower demand as incomes rise, supported by the observation that ‘’A 10 percent increase in income leads to a 15% decrease in the quantity of macaroni demanded’’.
In terms of price elasticity of supply, a value of zero indicates that the supply amount remains unchanged regardless of price fluctuations: the supply is "fixed". The original scenario states there was ''no change in the price of macaroni,'' indicating that the elasticity of supply in this situation is zero.
A. $1,737.82 Explanation: Profit is calculated as revenue minus cost. As this is a quadratic equation, the maximum profit is determined as the vertex of the function: -b/2a = -665.75/(2*(-11.3)) = -665.75/-22.6 = 29.46. At this value, the profit formula reaches its peak yielding approximately 1737.81992.
