Yes, Consumers are less sensitive to price when they share the cost of an item with another person or a group of people. Hence given statement is true.
Who is a consumer, exactly?Consumers are people who purchase goods for personal use and then utilize or consume them. A consumer may utilize the goods, product, or service to support themselves and carry out self-employment even when they are not permitted to resale it. Write about a consumer. The consumer is the person who regularly makes use of any goods or services.
What sets a customer apart from a consumer?The person who ultimately utilizes a good or service, even if they did not purchase it, is referred to as a consumer. A customer is regarded as a consumer when they make a purchase and utilize the product or service themselves. A customer always purchases anything, even if they might not be the final consumer
To know more about consumer visit :
https://brainly.com/question/29576179
#SPJ4
A financial adviser hosts a blog where he invites other personal finance experts to guest-blog on everything from real estate to estate taxes to tax write-offs. The variety of advice increases the site’s search engine optimization (SEO) and attracts many more potential clients for all the participating financial professionals.
Answer: build synergy
Explanation:
The scenario that occured in this situation has to do with the building of synergy.
A synergy is built in this case as the interaction with other finance experts has led to the increase in the sites search engine optimization and this ultimately brings about an increase in the number of potential clients.
A(n) -Select- is a long-term contract under which a borrower agrees to make payments of interest and principal on specific dates. There are four main types reflecting who the issuers are: -Select- , corporate, state and local government, and foreign. Each type differs with respect to -Select- and expected return. All have some common characteristics even though they may have different contractual features.
Answer:
Bond; treasury; degree of risk.
Explanation:
A bond can be defined as a debt or fixed investment security, in which a bondholder (investor or creditor) loans an amount of money to the bond issuer (government or corporations) for a specific period of time. The bond issuer are expected to return the principal (face value) at maturity with an agreed upon interest (coupon), which are paid at fixed intervals.
A bond is a long-term contract under which a borrower agrees to make payments of interest and principal on specific dates. There are four main types reflecting who the issuers are: treasury, corporate, state and local government, and foreign. Each type differs with respect to degree of risk and expected return. All have some common characteristics even though they may have different contractual features.
The advertising industry was worth how much money in 1920
Answer:
nearly 3 billon
Explanation:
Income received by households through the lending of their money to corporations and business firms is an example of
income.
Answer:
Interest / Dividend Income
Explanation:
Answer:
Answer for EDGE is C or Interest
Explanation:
True or False, _______ is the order of growth execution time of the isfull operation when using the arrayboundedqueue class, assuming a queue size of n.
True O(N) is the growing execution time order for Full operations when using an Array Bounded Queue with queue n.
A bound queue is a queue with a limited capacity. This means that you must specify the maximum size of the queue when creating it. For example, ArrayBlockingQueue (see previous example). An unbounded queue is a queue that is not capped by capacity. In other words, you don't have to specify the size of the queue.
A Java example of printing queue items using a "foreach" loop. troubleshooting:
This program uses a linked list collection to create a queue using the queue interface to store items in a FIFO (first in, first out) fashion. Then access and print the queue items in a forecah loop.
To retrieve items from a Java queue, you can call its poll() or remove() methods. Both poll() and remove() remove the first item in the queue. The behavior is different when the queue is empty. If the queue is empty, the poll() method will return null.
Know more about operations here:
https://brainly.com/question/30415374
#SPJ4
(b) [35 marks] What are the typical commission rates for the underwriters in debt issuance in SEO and in IPO, in the U.S? Explain the difference between these rates.
The typical commission rates for underwriters in debt issuance and initial public offerings (IPOs) in the U.S. differ significantly.
Supporting explanation: In debt issuance, underwriters typically receive a percentage of the total face value of the issued debt as their commission. This percentage can range from around 1% to 3% depending on factors such as the size and complexity of the debt offering, the creditworthiness of the issuer, and prevailing market conditions. The commission in debt issuance is based on the face value of the debt and is typically lower than in IPOs.
In IPOs, underwriters typically receive a percentage of the total proceeds raised through the offering as their commission. This percentage can range from 5% to 7% or even higher in certain cases. The commission in IPOs is based on the total funds raised and is higher compared to debt issuance due to the higher level of risk, complexity, and potential market volatility associated with bringing a company's shares to the public market for the first time.
The difference in commission rates between debt issuance and IPOs reflects the varying levels of risk, effort, and expertise required in each type of offering. Debt issuances are generally considered less risky and require less extensive marketing and due diligence compared to IPOs, which involve the sale of shares to the public and require substantial underwriting efforts.
Learn more about commission rates here:
brainly.com/question/20987196
#SPJ11
What must be rejected in a delivery?
When receiving a delivery, it is important to check the quality and accuracy of the items. Any items that have been damaged, spoiled or are not the items that were ordered must be rejected.
It is important to document all items that have been rejected and inform the delivery person of the reasons why they were rejected. This will help ensure that the company can take corrective action to prevent similar problems in the future. It is also important to inform the company of any items that were missing from the delivery. Refusal is an important part of the process as it ensures that customers receive what they ordered and that any issues are resolved promptly.
To know more about rejection of delivery click here
https://brainly.com/question/29627802
#SPJ4
Recently, Glenda Estes was interested in purchasing a Honda Acura. The salesperson indicated that the price of the car was either $27,600 cash or $6,900 at the end of each of 5 years. Compute the effective-interest rate to the nearest percent that Glenda would pay if she chooses to make the five annual payments.
The rate of interest charged to Glenda would be 5.18% upon the payment of her car in five annual installments.
What is a rate of interest?The percentage of interest charged over the principal amount of loan or advances for a particular period of time, is known as the rate of interest of such loan.
The computation of rate of interest using the formula and given information will be,
\(\rm Rate\ of\ Interest= \dfrac{Interest}{Principal\ x\ Time}\ x\ 100\\\\\rm Rate\ of\ Interest= \dfrac{7150}{138000}\ x\ 100\\\\\rm Rate\ of\ Interest= 5.18\)
Hence, the computation of the rate of interest is as aforementioned.
Learn more about rate of interest here:
https://brainly.com/question/13324776
#SPJ1
3. Question 3 Fill in the blank: Working for companies _____ means you'll work on a project-by-project basis, but not as a full-time employee.
Answer:
on a contract
Explanation:
An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.
Basically, an employee is saddled with the responsibility of providing specific services to the organization or company where he is currently employed while being paid a certain amount of money hourly, daily, weekly, or monthly depending on the contractual agreement between the two parties (employer and employee).
Any employee working for companies on a contract simply means or implies that, he or she work on a project-by-project basis rather than as a full-time employee.
For instance, a freelancer is someone who offers or provides his or her service to other employer of labor (business organization) without entering into a long-term contractual agreement.
interest rates drop, and by refinancing you can save $110 a month. if the closing costs on the new mortgage are $2,090, how long will it take you to recover your closing costs
It will take approximately 19 months to recover the closing costs through the monthly savings achieved by refinancing.
To calculate how long it will take to recover your closing costs, we need to divide the closing costs by the monthly savings achieved through refinancing.
Closing Costs: $2,090
Monthly Savings: $110
Time to Recover Closing Costs = Closing Costs / Monthly Savings
Time to Recover Closing Costs = $2,090 / $110
Time to Recover Closing Costs ≈ 19 months
Therefore, it will take approximately 19 months to recover the closing costs through the monthly savings achieved by refinancing.
learn more about refinancing here
https://brainly.com/question/29392697
#SPJ11
A manager suspends one of his subordinates for showing up to work late. This is an example of:
A.
negative feedback.
B.
punishment.
C.
negative reinforcement.
D.
extinction.
E.
neutral reinforcement.
(B.) punishment, One of a manager's employees is put on administrative leave for arriving late. This is an illustration of a penalty. In the event that an employee is accused of misbehavior.
The administration and coordination of tasks to accomplish a goal is management. Setting the organization's strategy and organising staff efforts to achieve these goals through the use of resources available are examples of such administrative actions. Informational, interpersonal, and decisional roles are the three main types of responsibilities that managers play. Manages employees, plans, and evaluates departmental operations to meet departmental goals. maintains staff by bringing in, choosing, onboarding, and training new hires. makes ensuring that the workplace is safe, secure, and lawful. develops opportunity for personal development. As a leader of people, it is both your duty and your opportunity to guide the organisation.
learn more about manager here:
https://brainly.com/question/17312484
#SPJ4
Disadvantages of canteen
The quality of the food is another drawback of an office canteen.
The required details for canteen in given paragraph
Having a cooked lunch is a luxury for many employees, but as it becomes more commonplace, many may choose the tastier options instead of giving their food much care. Unhealthy selections start to dominate and, if routinely consumed, will result in future issues. For kids who may feel overwhelmed by their newfound freedom to choose what they eat for lunch, having too many food options can result in making bad eating decisions.
Despite the fact that parents frequently have little knowledge of the foods their children choose, they are the ones who load money onto their pupils' lunch cards.
To know about canteen in given link
https://brainly.ph/question/2819889
#SPJ9
what is the opposite of the opposite of left???
if you get it fight you get brainliest!!!!
Answer:
Opposite of left, right. Opposite of right, left
I lost some brain cells O.O
Answer:
left??? i think
Explanation:
In order for a check to be legal tender it must be?
O Authorized
O Certified
Signed
O Processed
Answer:
certified signed
Explanation:
that signature come from police
Answer:
certified signed
Explanation:
The check only have power or in other words legit when only have the certification from the bank or the treasury.
1. Which of the following is an example of an economic policy in action?
a.) a local school district cutting property taxes, leaving more money in the hands of homeowners
b.) the amount of money in circulation in an economy
c.) the requirement by the Federal Reserve that banks have a certain amount of cash stored
d.) the interest rate the Federal Reserve charges banks for borrowing money
2.) What is a benefit for a government to issue stimulus checks to its citizens?
a.) The money in the Federal Reserve will be emptied, which causes the economy to reset and then begin to increase at a very fast rate.
b.) Basic needs can be paid for and even some consumer spending can occur, thus stimulating the economy.
c.) A country can transition from a "developing" country to a "developed" country.
d.) All spending will cease, thus, making the economy expand and develop further.
1. An example of economic policy in action is the interest rate the Federal Reserve charges banks for borrowing money. The correct answer is option D.
2. A benefit for a government to issue stimulus checks to its citizens is for paying basic needs and even some consumer spending can occur, thus stimulating the economy. The correct option is D.
Economic policies encompass all decisions made by the government concerning taxation, redistribution, and the availability of money.
Stimulus checks are direct government payments made to individuals during times of economic difficulty. They are intended to increase consumer confidence and spending by going to taxpayers, who will then use them to stimulate revenue at merchants and manufacturers. As such, they are intended to stimulate the economy.
To learn more on economic policy, here:
https://brainly.com/question/22324594
#SPJ1
insurance policies are offered on a "take it or leave it" basis, which make them
The answer is: Standard-form contracts. Insurance policies are standard-form contracts offered on a "take it or leave it" basis, limiting negotiation or customization.
The terms are predetermined by the insurance company, giving policyholders little room to modify the contract.
Insurance policies are standard-form contracts, meaning that they are offered on a "take it or leave it" basis, with little room for negotiation or customization by the insured party. These contracts are typically created by the insurance company and contain pre-drafted provisions that outline the terms and conditions of the policy, including coverage limits, exclusions, and deductibles. As a result, the insured party has limited bargaining power and must accept the terms of the contract as presented or seek insurance from another provider that offers more favorable terms.
To learn more about Insurance policies click here: brainly.com/question/29973740
#SPJ11
Which type of bankruptcy leaves your credit report sooner?
Checking accounts are good for the money you'll want to access for ordinary daily purchases and monthly bills. True or False
Answer:
I believe this statement is true.
Cultures that score high on the Uncertainty Avoidance Index
O seldom experience much stress.
O take an empirical approach to knowledge.
O enjoy ambiguity.
O value security and try to always follow the rules.
Answer:
seldom experience much stress.
Explanation:
countries that have high levels of uncertainty avoidance tend to be less stress-prone and more likely to take an empirical approach to knowledge. They also generally enjoy ambiguity and value security.
It is difficult to say definitively what the effects of scoring high on the Uncertainty Avoidance Index are, as every culture is different. However, in general, it seems that cultures that score higher on this index tend to experience more stress, take an empirical approach to knowledge, and value security more. They may also try to always follow the rules, which can lead to a feeling of rigidity.
when the price of a good goes up 1 nd demand decreases by the same amount, a good is said to be which of the following?
When the price of a good goes up and demand decreases by the same amount, the good is said to have unitary price elasticity of demand.
When the price of a good goes up and the quantity demanded decreases by the same proportionate amount, it indicates that the good has unitary price elasticity of demand. In other words, the percentage change in quantity demanded is equal to the percentage change in price. This is often represented as an elasticity coefficient of -1.
Unitary price elasticity of demand occurs when the demand for a good is perfectly responsive to changes in price. A small increase in price leads to an exactly proportional decrease in quantity demanded, resulting in constant total revenue for the seller. This means that the increase in revenue from the higher price is offset by the decrease in revenue due to the decrease in quantity sold.
This type of elasticity reflects a balanced relationship between price and demand. When a good has unitary price elasticity of demand, it is considered to have a "normal" demand curve. The responsiveness of consumers to price changes is neither extremely elastic (highly responsive) nor inelastic (less responsive).
Unitary price elasticity is important for businesses and policymakers to understand as it helps in making pricing decisions and predicting changes in revenue. For example, if a business wants to increase its revenue, it can adjust the price in such a way that the increase in price is offset by the decrease in quantity demanded, resulting in constant revenue. On the other hand, if a business wants to increase its market share, it may consider lowering the price to encourage greater demand.
In conclusion, a good is said to have unitary price elasticity of demand when the price increases by a certain percentage and the demand decreases by the same percentage. This indicates a balanced and proportionate response of consumers to changes in price, resulting in constant total revenue for the seller.
To learn more about unitary price elasticity, click here: brainly.com/question/30455869
#SPJ11
Andrea is a single parent with two young children. She works as a librarian and leads a busy life. As a discerning consumer, what will be her expectation from the TDL industry?
Answer:
The options are missing, so I looked for similar questions:
A. delivery of large quantities B. warehouse facilities C. flexibility in delivery schedules D. inventory managementThe answer is:
C. flexibility in delivery schedules
A discerning consumer is a consumer that generally shows good taste, a lot of knowledge, or sophisticated buying habits. They tend to be very demanding when they acquire services or products since they expect high quality. Normally, the expectations of discerning consumers regarding transportation, distribution and logistics (TDL) would be basically that they receive the goods that they ordered on time and when they (the consumers) have time to receive them. E.g. if they buy something online, they will expect it to be delivered fast, without any delays, and the delivery schedule should be flexible enough so that it fits their own personal schedule.
Users can easily judge the impact on profits of changes in selling price, cost or volume when using an income statement constructed under the ______ approach. Multiple choice question.
The income statement constructed under the contribution approach, allow Users to easily judge the impact on profits of changes in selling price.
What is contribution approach ?contribution approach can be explained as the presentation format under the income statement, which involves aggregation and deduction of variable cost from revenue.
This aggravation is done to arrive at a contribution margin and allow Users to easily judge the impact on profits.
Learn more about contribution approach at;
https://brainly.com/question/25605883
Why is the new deal’s impact on the us economy hard to measure?.
The impact of the New Deal on the U.S. economy is difficult to measure because of a variety of reasons. The New Deal was a series of initiatives implemented by President Franklin D. Roosevelt to provide relief, reform, and recovery during the Great Depression.
The New Deal created various programs and policies to provide jobs, aid for farmers, support for businesses, and help for people in need.However, the New Deal was implemented during a time of great economic turmoil, and the economy's recovery cannot be solely attributed to the New Deal. Other factors, such as World War II, played a significant role in boosting the economy.Additionally, the New Deal's impact varied across different regions and industries. Some areas saw significant improvements while others saw little or no change.
The success of the New Deal programs depended on various factors, including the level of economic development, local politics, and the effectiveness of local administrators.In conclusion, measuring the impact of the New Deal on the U.S. economy is complex and multifaceted. While the New Deal helped to alleviate suffering and improve the economy, it cannot be solely attributed to the country's eventual recovery. The New Deal's legacy is still debated, and its long-term effects on the U.S. economy are still being studied and analyzed.
To know more about Great Depression visit-
brainly.com/question/29771180
#SPJ11
during the daily scrum meeting, some of the project team members are frequently receiving their phone calls. creating a ground rule that no phone calls should be received during the meetings can enhance the effectiveness of the daily scrum. who among the following is responsible for creating and enforcing this rule?
The Scrum Master is responsible for creating and enforcing the ground rule of no phone calls during the daily Scrum meeting to enhance its effectiveness and foster a culture of focused collaboration.
In an Agile project management framework like Scrum, the responsibility for creating and enforcing ground rules typically lies with the Scrum Master. The Scrum Master is a servant-leader who ensures that the Scrum process is followed, facilitates meetings, and helps the team adhere to Agile principles.
In the given scenario, if some team members are frequently receiving phone calls during the daily Scrum meeting, it is impacting the effectiveness of the meeting. To address this issue, the Scrum Master can take the lead in creating and enforcing a ground rule that prohibits phone calls during the meeting.
The Scrum Master can start by discussing the issue with the team during a retrospective or a separate meeting to understand their perspectives. They can highlight the importance of active participation and engagement during the Scrum meeting to maximize collaboration and transparency. Once the team agrees on the ground rule, the Scrum Master can communicate it clearly to all team members, emphasizing the rationale behind it.
Enforcement of the ground rule is also the responsibility of the Scrum Master. They can remind team members before the meeting, establish a visual cue like a "no phones" sign, and intervene if someone violates the rule during the meeting. The Scrum Master should ensure that the rule is consistently applied and provide feedback to individuals who do not comply.
In summary, the Scrum Master is responsible for creating and enforcing the ground rule of no phone calls during the daily Scrum meeting to enhance its effectiveness and foster a culture of focused collaboration.
Learn more about Scrum Master
https://brainly.com/question/17205862
#SPJ11
What answers should Liz seek before moving onto the next step
and why? Who would be the best source for the answers? (case study
of northwest gas and electric company)
Liz should seek answers to questions regarding potential risks and challenges, resource requirements, and regulatory considerations before moving onto the next step.
Before proceeding with any decision or action, it is crucial for Liz to gather relevant information and insights. First, she should identify the potential risks and challenges associated with the next step. This will help her anticipate obstacles and develop strategies to mitigate them effectively. By understanding the risks in advance, Liz can take proactive measures to minimize their impact on the company's operations. Secondly, Liz needs to assess the resource requirements for the next step. This includes evaluating the financial and human resources needed for successful implementation. By understanding the resource constraints and availability, Liz can make informed decisions about budgeting, staffing, and acquiring necessary equipment or technology. This will ensure that the company is adequately prepared to execute the next step without encountering resource-related obstacles.
To learn more about resource requirements, Click here:
https://brainly.com/question/30365009
#SPJ11
Why is it important for a human resource manager to carefully maintain
employee records?
Answer:
Certain records require employee privacy to be protected. Not maintaining and following best practices for employee record keeping leaves you vulnerable to defending yourself against lawsuits, labor investigations or audits.
Explanation:
What is a business in sporta ad entertsnmnt marletongood
Answer:
Sports marketing is a subdivision of marketing which focuses both on the promotion of sports events and teams as well as the promotion of other products and services through sporting events and sports teams. It is a service in which the element promoted can be a physical product or a brand name. The goal is to provide the client with strategies to promote sports or to promote some other product, service, business or cause through sports. Sports marketing is also designed to meet the needs and wants of the consumers through exchange processes.
These strategies follow the traditional four "P"'s of general marketing: Product, Price, Promotion and Place. Another four "P"’s are added to sports marketing, relating to the fact sports are considered to be a service. The additional 4 P’s are: Planning, Packaging, Positioning and Perception. The addition of the four extra elements is called the "sports marketing mix."
Sports marketing is an element of sports promotion which involves a wide variety of sectors of the sports industry, including broadcasting, advertising, social media, digital platforms, ticket sales, and community relations.
Sports marketing is divided into three sectors. The first is the advertising of sport and sports associations such as the Olympics, Spanish Football league and the NFL, as well as sport teams like Real Madrid and the New York Yankees. The second concerns the use of sporting events, sporting teams and individual athletes to promote various products. The third category is the promotion of sports to the public in order to increase participation.
In the first case, the promotion is directly related to sports. In the second case, the products can but do not have to be directly related to sports. When the promotion is about sports in general, the use of this kind of strategy is called “Marketing of Sports.” When the promotion is not about the sports but sports events, athletes, teams or leagues are used to promote different products, the marketing strategy is denominated “Marketing through sports."When the promotion is about increasing participation among the public, it is called "Grassroots Sports Marketing."To promote the products or services, the companies and associations use different channels such as sponsorships of teams or athletes, television or radio advertisement during the different broadcast sports events and celebrations, and/or advertisement on sporting venues.
“Street marketing of sports” considers sports marketing through billboards on the street and also through urban elements (street lighters and sidewalks, etc.) to help promote and gain publicity during major worldwide sporting events such as the Football World Cup, the Olympic Games, or the Super Bowl.this = Business
At the beginning of the day, stock XYZ opened at $4.25. At the
end of the day, it closed at $5.25. What is the rate of change
of stock XYZ?
Answer:
23.53 %
Explanation:
The rate of change would be actual change/ original cost x 100
The actual change
= $5.25 - $4.25
=$1
The rate of change
=$1/$4.25 x 100
=0.2353 x 100
=23.53 %
Consider the following basket of goods: 50 hamburgers, 10 textbooks, eight T-shirts, and 100 bottles of water. Suppose that in 2015, each hamburger was $3.50, each textbook was $89.99, each T-shirt was $14, and each bottle of water was $1.50. In 2016, each hamburger was $3.60, each textbook was $95, each T-shirt was $13, and each bottle of water was $1.65. What was the approximate inflation rate in 2016
To calculate the inflation rate, we can use the Consumer Price Index (CPI) formula.
First, we need to calculate the total cost of the basket of goods in 2015 and 2016.
2015 cost = (50 x $3.50) + (10 x $89.99) + (8 x $14) + (100 x $1.50) = $752.90
2016 cost = (50 x $3.60) + (10 x $95) + (8 x $13) + (100 x $1.65) = $791
Next, we can use the CPI formula:
CPI = (Cost of the basket in the current year / Cost of basket in the base year) x 100
CPI in 2015 = ($752.90 / $752.90) x 100 = 100
CPI in 2016 = ($791 / $752.90) x 100 = 105
Finally, we can calculate the inflation rate:
Inflation rate = ((CPI in current year - CPI in base year) / CPI in base year) x 100
Inflation rate in 2016 = ((105 - 100) / 100) x 100 = 5%
Therefore, the approximate inflation rate in 2016 was 5%.
To calculate the approximate inflation rate in 2016, we need to first find the total cost of the basket of goods in 2015 and 2016, and then use the formula for calculating the inflation rate.
Step 1: Calculate the total cost of the basket of goods in 2015:
- 50 hamburgers * $3.50 = $175
- 10 textbooks * $89.99 = $899.90
- 8 T-shirts * $14 = $112
- 100 bottles of water * $1.50 = $150
Total cost in 2015 = $175 + $899.90 + $112 + $150 = $1,336.90
Step 2: Calculate the total cost of the basket of goods in 2016:
- 50 hamburgers * $3.60 = $180
- 10 textbooks * $95 = $950
- 8 T-shirts * $13 = $104
- 100 bottles of water * $1.65 = $165
Total cost in 2016 = $180 + $950 + $104 + $165 = $1,399
Step 3: Calculate the inflation rate:
Inflation rate = (Total cost in 2016 - Total cost in 2015) / Total cost in 2015 * 100
Inflation rate = ($1,399 - $1,336.90) / $1,336.90 * 100 ≈ 4.65%
The approximate inflation rate in 2016 was 4.65%.
to know more about leadership here:
brainly.com/question/30112292
#SPJ11
Rida Incorporated is preparing its direct materials budget for the second quarter. It budgets production of 275,000 units in the second quarter and 61,500 units in the third quarter. Each unit requires 0.40 pound of direct material, priced at $184 per pound. Starting with the second quarter, the company plans to end each quarter with an ending inventory of materials equal to 50% of next quarter’s budgeted direct materials required. Raw material inventory is 55,000 pounds at the beginning of the second quarter. Prepare a direct materials budget for the second quarter. (Enter "per unit" answers in two decimal places.)
Direct Materials Budget
Second Quarter
Units to produce 275,000 units
Materials required per unitselected answer correct pounds
Materials needed for production (pounds) not attempted Add: Desired ending materials inventoryselected answer correct not attempted Total materials required Less: Beginning materials inventoryselected answer correct not attempted Materials to purchase (pounds) pounds
Materials cost per poundselected answer correct not attempted Cost of direct materials purchases
Direct Materials Budget:
The direct materials budget calculates the amount of raw materials that are required to fulfill the production budget and the desired ending inventory for the budget period.
Direct Materials Budget for the Second Quarter:
Units to produce: 275,000 units
Materials required per unit: 0.40 pounds
Materials needed for production (pounds): 110,000 pounds
Add: Desired ending materials inventory: 68,750 pounds (50% of the third quarter's required materials)
Total materials required: 178,750 pounds
Less: Beginning materials inventory: 55,000 pounds
Materials to purchase (pounds): 123,750 pounds
Materials cost per pound: $184
Cost of direct materials purchases: $22,755,000
The direct materials budget of Rida Incorporated is as follows:
Units to produce: 275,000 units
Materials required per unit: 0.40 pounds
Materials needed for production (pounds): 110,000 pounds
Desired ending materials inventory: The company plans to end each quarter with an ending inventory of materials equal to 50% of next quarter's budgeted direct materials required.
Therefore, the desired ending materials inventory for the second quarter will be 50% of the third quarter's materials required i.e. 61,500*0.40*0.50 = 12,300 pounds. (Answer = 68,750 pounds)
Total materials required:
Materials needed for production (pounds) + Desired ending materials inventory = 110,000 + 68,750 = 178,750 pounds.
Beginning materials inventory: 55,000 pounds.
Materials to purchase (pounds): Total materials required – Beginning materials inventory = 178,750 – 55,000 = 123,750 pounds.
Materials cost per pound: $184.
Cost of direct materials purchases: Materials to purchase (pounds) * Materials cost per pound = 123,750 * $184 = $22,755,000.
Learn more about Direct Materials Budget: https://brainly.com/question/29237234
#SPJ11