A. using the regular percentage change method, what is the price elasticity of supply starting at a price of $40 per umbrella and moving to a price of $60 per umbrella? 1000 b. using the regular percentage change method, when the price of umbrellas falls from $100 per umbrella to $80 per umbrella, the decrease in price is a -1.33 % decrease. the decrease in quantity supplied is a % decrease. therefore, the elasticity of supply is . c. if the elasticity of supply for umbrellas is 1.1, then an increase in the price of umbrellas of 20% will the quantity supplied by %.

Croy inc. has the following projected sales for the next five months: month sales in units april 3,850 may 3,875 june 4,260 july 4,135 august 3,590 croy’s finished goods inventory policy is to have 60 percent of the next month’s sales on hand at the end of each month. direct material costs $2.50 per pound, and each unit requires 2 pounds. raw materials inventory policy is to have 50 percent of the next month’s production needs on hand at the end of each month. raw materials on hand at march 31 totaled 3,741 pounds. 1. determine budgeted production for april, may, and june. 2. determine the budgeted cost of materials purchased for april, may, and june. (round your answers to 2 decimal places.)

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is:

If a society decides to produce consumer goods from its available resources, it is answering the basic economic question