Total units cost divided - Study guides, Class notes & Summaries

A competitive firm is said to maximize its profit when....... - the price is equal to marginal cost. A Firm's Cost Curve - A firm's demand for a factor input, for example labour, slopes _____________. A) upward, due to the increasing marginal product of labour B) downward, due to the diminishing marginal product of labour C) downward, due to the increasing wage rates D) upward, due to the decreasing wage rates - B A profit-maximizing competitive firm should hire workers up to the point ...

the production budget - ANS Sales budget + ending finished goods inventory - beginning finished goods inventory direct materials production budget - ANS Production budget × direct materials per unit the direct materials purchases budget - ANS Direct materials production budget + ending direct materials inventory - beginning direct materials inventory Cash collected from customers - ANS (current period revenue × current period collection rate) + cash collected from previous per...

Accounting: What costs should be considered when making non-routine decisions? (3) : The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? : Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? : The difference between variable costs subtracted from sales Accounting: In a continuous budget plan how many months are generally planned? : 12 months Accounting: Which of t...

Economics 101 Questions and Answers Already Passed economics the study of how people make choices under conditions of scarcity and of the results of those choices for society rational person someone with well-defined goals who tries to fulfill those goals as best as he or she can economic surplus the benefit of taking any action minus its cost opportunity cost the value of the next-best alternative that must be foregone in order to undertake the activity positive economics economic analysis ...

BUSINESS MAJOR FIELD TEST QUESTIONS AND ANSWERS GRADED A;(FULL TEST BANK) Accounting: What costs should be considered when making non-routine decisions? (3) The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? The difference between variable costs subtracted from sales Accounting: In a continuous budget plan ho...

WGU C718 VOCABULARY 2024 QUESTIONS WITH COMPLETE ANSWERS ALREADY PASSED AND GRADED A+ absolute advantage - CORRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRECT ANSWER additional costs incurred by third parties outside the produ...

economics correct answers the study of how people make choices under conditions of scarcity and of the results of those choices for society rational person correct answers someone with well-defined goals who tries to fulfill those goals as best as he or she can economic surplus correct answers the benefit of taking any action minus its cost opportunity cost correct answers the value of the next-best alternative that must be foregone in order to undertake the activity positive economi...

absolute advantage - Answer the ability to produce a good using fewer inputs than another producer average fixed cost (AFC) - Answer Total fixed cost divided by the number of units of output; a per-unit measure of fixed costs. AFC = FC/Q average total cost (ATC) - Answer Total cost divided by the number of units of output ATC = TC/Q or ATC = AFC + AVC average variable cost (AVC) - Answer variable cost divided by the number of units of output AVC = VC/Q budget constraint - Ans...

BUSINESS MAJOR FIELD TEST QUESTIONS AND ANSWERS GRADED A;(FULL TEST BANK) Accounting: What costs should be considered when making non-routine decisions? (3) Ans- The price of material, Factory overhead costs, and the price of labor Accounting: Total product/ units produced and sold equals?? Ans- Product Cost per Unit Accounting: What is a general explanation of what the contribution margin is? Ans- The difference between variable costs subtracted from sales Accounting: In a ...

Who signs it (death certificate) - Correct Answer attending physician or coroner/medical examiner. Certified copies (death certificate) - Correct Answer legal copy of the original death certificate. Burial permit - Correct Answer legal document issued by government agency authorizing transportation and/or disposition. Mean - Correct Answer the sum of a group of numbers divided by the number of units. Median - Correct Answer the value of the "midpoint" in a set of numbers. Mode -...