A franchise (or franchising) is a technique of selling goods or services that involves a franchisor who creates the brand's trade name and business model and a franchisee who pays a royalty and frequently an upfront fee to have the right to use the franchisor's name and system.
When your lucrative franchise collapses outright?Getting managerial and marketing know-how from the franchisor is one of the benefits of a franchise. The coattail effect is what happens when your profitable franchise falls merely as a result of other franchisees failing.Being undercapitalized is one of the main reasons why a franchisee fails. A slow start-up or the franchise operation needing more working capital than what was declared in the franchise disclosure agreement can both contribute to a lack of adequate working capital.In the event that a franchisor goes bankrupt or fails in some other way, a franchisee often has no rights under a franchise agreement. In most cases, only the franchisor has the authority to end the franchise agreement if the franchisee experiences financial difficulties such as insolvency or bankruptcy.The ideal solution for a franchise that is struggling is frequently for the franchisee to sell the company to a third party who then takes over as the new franchisee for that region. Due to this, the failed franchisee may end its compliance with the terms of the franchise agreement and any lease.To Learn more About franchise refer to:
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market modification strategies include finding new customers, increasing product , and creating a new use situations. multiple choice question. use modifications awareness advertising
(a) Use
What are market modification strategies?
Market modification - this includes entering new market segments, redefining target markets, winning over competitor's customers, converting non-users. product modification.
For example, adjusting or improving your product's features, quality, pricing and differentiating it from other products in the marking.
What are the types of market strategies?
Types Of Marketing Strategies are:
Market Penetration Strategy.Market Development Strategy.Product Development Strategy.Diversification Strategy.To learn more about Marketing Strategies from the given link
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Equipment costing $20,000 with $17,800 of accumulated depreciation is sold for $2,500 cash. The journal entry will involve a ________.
Accumulated depreciation, which is included in the long-term assets section of a balance sheet, reduces a capital asset's net book value.
The journal entry involve Credit portion
What is Accumulated depreciation?
The total amount of depreciation that has been applied to an asset up to a certain point is known as accumulated depreciation. The initial cumulative depreciation amount is increased by the depreciation expense for each period.
Accumulated depreciation is the cumulative amount of depreciation that has been subtracted from an asset's value. Fixed assets are denoted as a debit on the balance sheet, and accumulated depreciation is denoted as a credit to balance the asset.
Throughout the asset's useful life, accumulated depreciation is recorded as a credit. When an asset is sold or retired, accumulated depreciation is recorded as a debit against the asset's credit value. The net income is unaffected.
17800 x 1/20000 x 2500
Accumulated depreciation = 2225
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how was the invention of the printing press disruptive to previous norms? for example: information creators, control of information, information consumers, etc.
In the 15th century, people were able to share knowledge more quickly and widely thanks to an invention. Civilization has never wavered.
The saying goes that knowledge is power, and the mechanical movable type printing press made it easier and faster to spread knowledge.
How was information altered by the printing press?The unprecedented dissemination of ideas and information was made possible by the mass production of printed materials. Because it gave people access to new information, it is one of history's most significant inventions.
How did the printing press contribute to the dissemination of information and news?Newspapers were published and public debates took place as printing spread. The reformers and leaders were able to easily spread their ideas. Novelists and poets could also write about and convey their emotions, which could now reach a wider audience.
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ms. jackson borrowed $42,000 at 8.75% annual simple interest. if exactly 1 year later she was able to repay the loan without penalty, how much interest would she owe? group of answer choices
$3675
Interest is calculated as follows: $42,000 x 0.0875 x 1 = $3675
Interest due is the sum of money needed to cover a loan's interest expense for the specified time period. When a borrower obtains a loan from a bank, the loan is required to be repaid over time in a series of installments or monthly payments.
How is the interest you owe determined?Subtract the number of payments you'll be making that year from the interest rate. You would divide 0.06 by 12 to get 0.005 if you had a monthly payment schedule and an interest rate of 6%. To calculate the amount of interest you will be required to pay that month, multiply that amount by the outstanding loan balance.
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according to the market orientation, profits can be obtained through multiple choice persuading customers that they need certain goods. dismissing customer relationship management. personal selling and advertising. mass producing goods for customers. acquiring new customers.
According to the market orientation, profits can be obtained by persuading customers that they need certain goods.
Market-oriented perspectives include decision-making perspectives, market information perspectives, cultural behavioral perspectives, strategic perspectives, and customer-centric perspectives.
Market Orientation is strategically focused on identifying the consumer needs and desires that define the new products being developed. Established companies such as Amazon and Coca-Cola use market-oriented principles to improve or expand their products and services.
Market orientation increases customer satisfaction and loyalty. Attention to customers increases loyalty and leads to repeat purchases. Brand loyalty creates a customer base that resists attempts by competitors to steal customers by offering low prices or special referral incentives.
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a company purchased new equipment for $60,000. the company paid cash for the equipment. other costs associated with the equipment were: transportation costs, $1,000; sales tax paid $2,000; and installation cost, $2,500. the correct amount to capitalize in the equipment account would be:
The amount to capitalize in the equipment account would be: 65,500
According to IAS 16 Property, Plant and Equipment, an asset's cost consists of:
combined with import taxes and duty the first estimate of the costs of dismantling and removing the item and restoring the place on which it is located, as well as any expenses directly related to transferring the asset to the location and condition required for it to be able to operate as intended by management
In the example, the asset cost $60,000 to purchase, $1,000 was needed for delivery to the site desired by management, $2,000 was needed for sales tax, and another $2,500 was needed for installation in order for the asset to operate as intended by management. As a result, all of these expenses would be 65,000
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1. burton electronics produces radios, computers, and navigation systems. although all high level decisions are made at company headquarters by top management, rapid expansion and increasingly specialized products have caused the company to consider decentralizing into three divisions (i.e., radios division, computers division, and navs division). each division manager would be responsible for costs, revenues, and investments in assets. a) how should the company classify the three divisions, as cost centers, profit centers, or investment centers? explain. (10.2) b) what are the potential advantages of decentralizing? (10.1) c) what are the potential disadvantages of decentralizing? (10.1)
All three centres will be in charge of cost and revenue management. A profit centre is a division that is in charge of managing both costs and revenues. It is the investment centre because all high-level decisions are made at headquarters.
What is revenue?
Revenue is the money earned through routine business operations and is calculated by multiplying the average sales price by the number of units sold. Net income is calculated by subtracting costs from the top line (or gross income). On the income statement, revenue is also referred as sales. Revenue is the money generated into a firm by its operations. Depending on the accounting method used, there are various methods for calculating revenue. Accrual accounting will treat credit sales as revenue for products or services given to the customer. Revenue is recognised even if compensation has not yet received under certain rules.
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a quick, rough estimate of the time required for money to double can be obtained by dividing which of the following numbers by the compound interest rate? a) 100 b) 72 c) 64 d) 52
Divide 72 by the compound interest rate to get a rough estimate of how long it will take for money to double.
What is interest rate?An interest rate is the amount of interest due per period as a percentage of the amount lent, deposited, or borrowed. The total interest on an amount lent or borrowed is determined by the central sum, the interest rate, the compounding frequency, and the measurement of the time it is lent deposited, or borrowed. An interest rate tells you how much it costs to borrow or how much it pays to save. So, if you're a borrower, the interest rate is the amount you're charged for borrowing money, expressed as a percentage of the total loan amount.To learn more about interest rate, refer to:
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after meeting with the borrowers to complete a loan application, you return to your office and order a tri-merge credit report. now that you have a credit report, what loan disclosure must you now prepare and mail (or give) to them?
The application given is known as Notice to Home Loan Applicant
"In connection with your application for a house loan, the lender must disclose to you the score that a consumer reporting agency gave to users and the lender utilised in connection with your home loan, and the important variables affecting your credit scores." says the notice to the home loan applicant.What is the credit disclosure form for applicants?
In a nutshell, this disclosure contains information on the applicant's credit score, the range of potential scores, significant factors that negatively impacted the applicant's credit score, the date the score was delivered, and the name of the person or organisation that gave the score.
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which feature of a bond contract allows the issuer to redeem a bond issue immediately in its entirety at an amount greater than par value prior to maturity? put provision convertible provision call provision deferred call provision
A bond contract's call provision enables the issuer to redeem a bond issuance promptly and in full at a price greater than the par value before maturity.
They are frequently present in municipal and corporate bonds. When market interest rates fall below the bond's interest rate, the issuer may decide to call the bond. By paying off the bond and issuing a new bond with a reduced interest rate, the issuer will be able to save money. According to the call provision, if the bonds are called, the corporation is required to pay the bondholders more than their par value.Deferred call provisions prevent the issuer from calling all or a portion of the bond issue for a number of years in the early years of the bond issuance.
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during 2024, the balboa software company incurred development costs of $2,000,000 related to a new software project. of this amount, $400,000 was incurred after technological feasibility was achieved. the project was completed in the middle of the year and the product was available for release to customers on july 1. revenues from the sale of the new software in 2024 were $500,000 and the company anticipated future additional revenues of $4,500,000. the economic life of the software is estimated at four years. what amount of the software development costs would be capitalized in 2024 (ignore amortization)?
The cost of developing the software would be capitalized in 2024 to the tune of $400,000.
How does technological feasibility work?Technology feasibility and cost analysis are used to evaluate a process or technology's potential economic viability and to determine which technologies have the best chance of being successful commercially. Plans for developing a balanced portfolio and validating new technologies can benefit from the findings of technology feasibility analysis efforts.
A technology's economic viability is evaluated by comparing its implementation costs for a specific process to the costs associated with existing technology. These analyses are therefore helpful in identifying the projects with the best chances of success in the short, medium, and long terms.
Calculation:
Cost of development: $2,000,000
$40000 was spent after technological feasibility was attained.
Now,
The expenses for creating software that would be capitalized in 20X1
= Cost incurred after technological feasibility is attained
= $400,000
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internal growth rate last year umbrellas unlimited corporation had an roa of 9.6% and a dividend payout ratio of 50.4%. what is the internal growth rate? multiple choice 2.13% 1% 92.16% 5%
The internal growth rate is 5%. IGR is calculated as the Net Income rate Retained Earnings and the Net Income Total Assets. The Retention Ratio ROA = IGR .
The highest rate of growth Income a company can experience without outside funding is known as its internal growth rate (IGR). The sales growth rate that can be supported without external finance is referred to as the internal growth rate. The internal growth rate is significant because it gauges a company's capacity to boost sales and profits without issuing new stock or taking on additional debt, which is particularly crucial for start-ups and smaller enterprises.
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julie orzabal deposits $5000 in a savings account offering 5.125 percent compounded daily. assuming she makes no further deposits, what will be the balance in her account after 5 years?
The balance in her account after 5 years is calculated to be $6460.25 if she deposits $5000 in the saving account.
The balance in her account can be determined by using the formula of compound interest;
A = P[1 + (r/n)]^nt
Here A represents the final amount, P represents the initial balance, r represents the interest rate, n represents the number of times interest was applied per time period and t represents the number of time periods that have passed
As she deposited $5000 in the savings account offering 5.125% compounded daily, substituting these values in the equation as follows;
A = 5000 [1 + (0.05125/365)]^(5)(365)
A = 5000 [1 + (0.000140411)]^1825
A = 5000 (1.000140411)^1825
A = 5000 × 1.29205
A = $6460.25
Hence, the balance in her account will be $6460.25 after 5 years.
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the economy is in an expansion and the housing market is growing. as a result of this, a home builder doubles his sales force. this would be best described as an example of a reduction in
The economy is in an expansion and the housing market is growing. as a result of this, a home builder doubles his sales force. This would be best described as an example of a reduction in Cyclical unemployment
What is cyclical unemployment?Cyclic unemployment is a component of total unemployment that directly results from cycles of economic booms and busts. Unemployment rates typically rise during recessions and fall during expansions. An example of cyclical unemployment is the layoff of construction workers during the Great Recession that followed the 2008 financial crisis. Unemployment can be classified as frictional unemployment, cyclical unemployment, structural unemployment, and institutional unemployment. On the other hand, cyclical unemployment increases during recessions as consumer demand for goods and services declines. Therefore, fewer workers are required, leading to layoffs.To learn more about cyclical unemployment from the given link :
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The goal of the accounts receivable methods is to adjust the allowance for doubtful accounts balance so that?.
The goal of the accounts receivable methods is to adjust the allowance for doubtful accounts balance so that the estimated amount of the receivables that are not collected is the same as the adjusted balance.
The write-off item must be reversed and the payment must be recorded when you receive money that you wrote off as uncollectable. Reverse the write-off entry by lowering the allowances for doubtful accounts account with a credit and raising the accounts receivable account with a debit. Due to the fact that an allowance for doubtful accounts affects the value of an asset, in this example, the accounts receivable, it is referred to as a "counter asset." The allowance, also known as a bad debt reserve, reflects management's best guess as to how much of the accounts receivable are likely to be unpaid by clients.
In accordance with the allowance method, a business makes an adjusting entry at the conclusion of each accounting period for the sum of the losses it expects to incur as a result of giving its clients credit.
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ased on the free cash flow valuation model, the value of weidner co.'s operations is $1,200 million. the company's balance sheet shows $80 million in accounts receivable, $60 million in inventory, and $100 million in short-term investments that are unrelated to operations. the balance sheet also shows $90 million in accounts payable, $120 million in notes payable, $300 million in long-term debt, $50 million in preferred stock, $180 million in retained earnings, and $800 million in total common equity. if weidner has 30 million shares of stock outstanding, what is the best estimate of the stock's price per share? a. $27.67 b. $30.43 c. $33.48 d. $24.90 e. $36.82
The best estimated stock price per share of free cash flow valuation model = $27.67
Free cash flow :
Free cash flows( FCF) from operations is the cash that a company has left over to pay back stakeholders similar as creditors and shareholders. Because Free cash flow represents a residual value, it can be used to help value pots.
Evaluation :
the value of Weidner Co.'s operations = $1,200 million
accounts receivable = $80 million
short-term investments = $100 million
accounts payable = $90 million
notes payable = $120 million
long-term debt = $300 million
preferred stock = $50 million
retained earnings = $180 million
total common equity = $800 million
shares of stock outstanding = 30 million
Now,
The total intrinsic value = value of operation + short-term investments
The total intrinsic value = $1200 million + $100 million
= $1300 million
Thus,
the total value of the equity = Total intrinsic value - Debt - preferred stocks - notes payable
The total value of the equity = $1300 million - $300 million - $50 million - $120 million
= $830 million
therefore,
the stock's price per share = Total value of equity ÷ Total outstanding stock
= 830 million ÷ 30 million
= $27.67.
Hence , the stock price per share = $ 27.67
Stock price :The market price per share of stock, or the" share price," is the most recently price that a stock has traded for. It's a function of request forces, being when the price a buyer is willing to pay for a stock meets the price a dealer is willing to accept for a stock.
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5. (a) how long will it take an investment to double in value if the interest rate is 3%, compounded continuously? (b) what is the equivalent annual interest rate?
The investment values are:
a) The number of times it'll take the investment to double is roughly=23.10 years
b) The original periodic interest rate is roughly=0.03
The continuous compounding intrest rate isThe reason the below values are correct is given as follows
a) The given parameters are:
Chance interest rate, r = 3
The nonstop compounding interest rate formula, is given as follows:
[tex]P(t)=P_{0} .e^{r.t} \\[/tex]
When the investment doubles, we have:
[tex]P_{0}= P_{0} .e^{r.t} \\e^{0.03*t} =2\\ t=\frac{In2}{0.03} =23.10[/tex]
The number of times, t, it'll take the investment to double is t ≈23.10 times
b) The original periodic interest rate is given as follows:
[tex]i_{eff} =e^{r} -1[/tex]
Where:
[tex]i_{eff}[/tex] = Effective periodic interest rate = Original periodic interest rate
Thus, we have:
[tex]i_{eff} =e^{0}.03 -1=0.03[/tex]
The original periodic interest rate ≈0.03
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according to the corporate governance task force (cgtf), during which phase of the ideal model and framework does the organization plan the specifics of how it will reach its destination?
According to the Corporate Governance Task Force (CGTF), during the Ideal Formation Model and Framework phase, the organization plans specifically how it will achieve its objectives.
Organization is a place or place for a group of people to work together in a rational and systematic, controlled, and guided manner to achieve a certain goal by utilizing existing resources. In general, organizations will utilize certain resources in order to achieve goals, such as; money, machines, methods/methods, environment, human resources, and other resources, which are carried out in a systematic, rational, and controlled manner. Referring to the understanding of the organization, organizational goals do not only focus on achieving the company's vision and mission, but also increasing income that exceeds production costs. This is what distinguishes profit and non-profit organizations.
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the price of a 3-month prepaid forward on the power windows corporation is 140. the forward price for a 3 month forward on power windows corporation is 142. power windows corporation pays quarterly dividends of 5. the next dividend is due in 2 months. calculate the current spot price of the stock of the power windows corporation
Power Windows Corporation stock is now trading for 145 on the spot market.
The cost of delivering an underlying asset, financial derivative, or currency to the buyer of a forward contract at a preset date is known as the forward price. It essentially equates to the spot price plus any additional carrying expenses, such as interest rates and storage fees.
The current market price at which a certain asset, such as a security, commodity, or currency, can be purchased or sold for immediate delivery is known as the spot price.
Forward price = Spot price + Interest - Dividend
140 = Spot price + 0 - 5
Thus,
Spot price = 145
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pat and abe do not sign a contingency for the sale of the buyer's property. however, it is clear that if pat is not able to sell her home, she will not have the downpayment funds necessary to buy abe's home. this is a/an:
pat and Abe do not sign a contingency for the sale of the buyer's property. however, it is clear that if pat is not able to sell her home, she will not have the down payment funds necessary to buy Abe's home. this is a/an: A: Hidden contingency.
Any previously unidentified job site issue that needs to be resolved (or addressed) before the project can proceed is referred to as a hidden contingency. It is anything that is hidden so that the designer would not have had any means of knowing about it when designing the walls, floor, or other finished surfaces. If the plaster or drywall is taken off the walls, for instance, it might be easy to see that there is no insulation there.
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soda bubbles corporation makes soft drinks. toby drinks a soda beverage, which proves defective and injures him. one justification for holding soda strictly liable for the harm caused to toby is that
Soft drinks are manufactured and sold by Soda Bubbles Corporation. Talia purchases and consumes a Soda Bubbles beverage, which turns out to be defective and injures her. One reason for holding Soda Bubbles strictly liable for the harm caused to Talia by its defective product is that Soda Bubbles is profitable.
A product defect is any feature of a product that prevents it from being used for the purpose for which it was designed and manufactured. Product defects are most commonly encountered in legal contexts involving product safety, where the term refers to "anything that renders the product not reasonably safe."
A defective product is one that causes harm to a person as a result of a design flaw, a manufacturing flaw, or a marketing flaw.
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a monopolistic competitor will engage in advertising in order to: a reduce excess capacity. b collude more effectively with other firms. c decrease marginal costs of production. d increase demand for its product. e produce on the upward-sloping portion of its atc curve.
A monopolistic competitor will engage in advertising in order to d) increase demand for its product.
A monopoly is the type of imperfect competition wherein a dealer or manufacturer captures the majority of the market percentage because of the lack of substitutes or competitors. A monopolistic opposition is a sort of imperfect opposition in which many sellers try to capture the market percentage by way of differentiating their merchandise.
Monopolistic markets are markets where a certain service or product is offered by means of only one enterprise. A monopolistic market shape has the features of a natural monopoly, in which a single agency fully controls the market and determines the supply and charge of a services or products.
Antitrust legal guidelines ensured that those trusts had been dissolved to promote wholesome competition. From a felony angle, is not an excellent monopoly in any of its commercial enterprise gadgets. There are competition for the whole lot from browsers and smartphones to virtual advertising and marketing structures.
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all raw materials purchases are made on credit. prepare journal entries to record the: 1. purchase of raw materials. 2. direct materials used. 3. indirect materials used.
The journal entry to record the purchase of raw materials is Debit Raw Materials Inventory $40,000, Accounts Payable $40,000, direct materials used is Debit Work-in-Process Inventory 17,000, Credit Raw Materials Inventory $17,000.
Preparation of the journal entries1. Purchase of raw materials
Debit Raw Materials Inventory $40,000
Accounts Payable $40,000
( To record raw material on credit)
2. Direct materials used
Debit Work-in-Process Inventory 17,000
Credit Raw Materials Inventory $17,000
( To record direct materials in production)
3. Indirect materials used.
Debit Factory overhead $22,000
Credit Raw material inventory $22,000
( To record indirect materials in production)
Therefore the entry to record the purchase of raw materials is: Debit Raw Materials Inventory $40,000, Accounts Payable $40,000.
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The complete question is:
Prepare journal entries to record the following production activities.
1. Purchased $40,000 of raw materials on credit.
2. Used $17,000 of direct materials in production.
3. Used $22,000 of indirect materials in production.
the east company manufactures several different products. unit costs associated with product ord210 are as follows: direct materials $54 direct manufacturing labor 8 variable manufacturing overhead 11 fixed manufacturing overhead 25 sales commissions (2% of sales) 5 administrative salaries 12 total $115 what are the inventoriable costs per unit associated with product ord210?
The inventoriable cost per unit associated with product ord210 is $98.
What are inventoriable costs?Inventoriable costs are described as the costs that are linked with the manufacture of a product and selling them. The constituents of inventoriable costs include factory overheads, direct expenses, direct labor, and direct materials.
Given that,
Direct materials = $54
Manufacturing labor = $8
Variable manufacturing overhead = $11
Fixed manufacturing overhead = $25
Inventoriable costs = Direct materials + Manufacturing labor + Variable manufacturing overhead + Fixed manufacturing overhead = 54 +8+11+25 = $98
It can be concluded that the inventoriable cost per unit associated with product ord210 is $98.
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Kenda needs her manager to review the memo she wrote so that she can send it out to her clients before the end of the day. what's the best way for kendra to end her email to her manager? question 1 options: a.please review the memo for any spelling or grammatical errors. b.here's the memo i want to send clients today. c.please review the memo and let me know if you have any changes by 3 p.m. today. d.do you think this looks ok?
The BEST way for Kendra to end her email to her manager is option A: Please review the memo and let me know if you have any changes by 3 p.m. today.
What do you mean of review?A review is an opinion or analysis of something's quality. Review can also refer to going through a subject again as part of a study session or returning to something.
Note that when used as a noun and a verb, review has numerous additional meanings. A review is a critique of something, telling both its strengths as well as weaknesses.
Therefore, a book memo is an analysis of the book, or a review. A review, which is more than just a summary, presents an argument.
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you are an investment advisor. your clients have been stuffing money into a a cookie jar to save for their child's college education, and is now bringing it to you to invest. they have $10091 dollars to invest and need to turn it into $23194 dollars in 8 years. they cannot make any more deposits. what rate of return do you need to find them to make sure they can afford to send their child to college? answer as a percent and to the nearest hundredth of a percent as in xx.xx % and enter without the percent sign.
The required rate of return is 16.23% for the investment
The principal amount invested for a child's college education= $10091
Required amount in future for education= $23194
Number of years for which amount is invested= 8 years
Interest earned in 8 years = 23194-10091 = $13103
Using the formula of simple interest, to find the rate of return:
Simple interest = P*R*T/100
where P = principal amount invested
R = rate of return
and T = time period for which the principal is invested
Substituting the values in the formula we get the following:
13103 = 10091*R*8/100
13103 = 807.28*R
R = 16.23%
So, the rate of return is 16.23%
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Which of the following best describes a liability?
which element of the promotion mix refers to the set of nonpersonal communication tools designed to stimulate quicker and more frequent purchases of a product?
Sales promotion refers to the set of non personal communication tools designed to stimulate quicker and more frequent purchases of a product.
What is promotion mix ?To maximize promotional efforts and reach a larger audience, marketers create a promotion mix, which is a collection of various marketing strategies. The duty of the marketer is to determine the ideal promotion mix for a specific brand.
It takes marketing expertise and experience to create a promotion mix. To create a successful promotion mix, marketers must conduct numerous studies and gather a ton of information on a specific brand.
The significance of a promotion mix :
increases the efficiency of advertising campaignssegments the audience and enhances client communicationsubscribers are informedunique among the groupWhat Makes Up a Promotion Mix?
Direct selling and advertisingpromotion of salesPublic relationsTo know more about, promotion mix, visit :
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The most common form of competition is ________blank, in which many firms compete for customers in a given market but with differentiated products.
The most common form of competition is monopolistic competition blank, in which many firms compete for customers in a given market but with differentiated products.
Monopolistic Competition Market
Monopolistic Competition is a competition with other manufacturers who have similar products, but there are differences between each of them.
This difference is the hallmark of the productsproducts sold by each manufacturer.
The activity of producing these goods is known as product differentiation or product differentiation. Because the products produced are almost similar, each producer will compete in terms of quality, price, and how to market their products.
Monopolistic Competition Market Characteristics
The characteristics of a monopolistically competitive market are as follows:
1. Has a very large number of producers
As in a perfectly competitive market, a monopolistic market has a large number of producers. Due to the large number of producers, each producer has a relatively small market share.
2. There is Product Differentiation
Product differentiation is when a manufacturer produces a product that is slightly different, but similar to the products of its competitors.
In a monopolistically competitive market, when the price of one producer rises while the price of the product of another producer is constant, the demand for that product will fall. Because, consumers will easily find substitute products from these products.
3. Each producer competes in terms of quality, price, and how to market their products
Because products in monopolistic markets tend to be similar, producers will compete in terms of quality, price, and how to market their respective products.
Manufacturers will compete to improve the quality of their products, such as through attractive product designs and services provided to consumers.
4. Producers are free to enter the market
Just like a perfectly competitive market, monopolistic market participants are also free to enter and leave the market.
The free entry and exit of the market means that there are no barriers for new producers who want to sell their products in the market or old producers who want to leave the market.
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the following information is available: units in process, dec. 1 (60 percent converted)2,200units units in process, dec. 31 (30 percent converted)1,100units units started during the month8,250units materials are added at the beginning of the process. how many equivalent units in process for conversion were there in december using the weighted average method
The equivalent units in process of conversion are equal to 8580 units.
The process of converting raw materials into finished goods involves many steps and there should be a proper check on the manufacturing process. There should be a keep on the units available, the units used, and the units left. According to the question,
beginning work in process units = 2200
units started in process = 8250 units and
total units to account for = 2200 + 8250 = 10450 units.
Now, the equivalent units can be calculated as
Units completed is given by 8250 units which are 100% completed that is
(100/100) × 8250 = 8250 units.
Ending work in process is 1100 units which are 30% completed that is
(30/100) × 1100 = 330 units.
Now, the total equivalent units will be
8250 + 330 = 8580 units
Only 8580 units are equivalent units from 10450 available units.
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