1. IBM would like to sell 5% of its products in 2022 more than the year before; its price elasticity of demand is -1.25 and that its average per unit currently is $350. In order for IBM to be able to realize its sales objective (5%).
a. By what percentage should the company lower its price level (your final answer must be shown in percentage)?
b. And what should the price per unit be your final answer must be shown in dollar value)?
2. SMC currently has a student enrollment of 32,500 and its price elasticity of demand is -0.75. Due to the anticipation of rising inflation, school administrators decided
to raise tuition across the board by 12.5%,
a. By what percentage would the impact of 12.5% increase in tuition be on student enrollment in upcoming academic year (your final answer must be shown in
percentage)?
b. And what is the anticipated student enrollment going to be in upcoming academic year (your final answer must be shown in numerical value and it is ok to be in
decimal point).

Price and efficiency variances, journal entries. the schuyler corporation manufactures lamps. it has set up the following standards per finished unit for direct materials and direct manufacturing labor: direct materials: 10 lb. at $4.50 per lb. $45.00 direct manufacturing labor: 0.5 hour at $30 per hour 15.00 the number of finished units budgeted for january 2017 was 10,000; 9,850 units were actually produced. actual results in january 2017 were as follows: direct materials: 98,055 lb. used direct manufacturing labor: 4,900 hours $154,350 assume that there was no beginning inventory of either direct materials or finished units. during the month, materials purchased amounted to 100,000 lb., at a total cost of $465,000. input price variances are isolated upon purchase. input-efficiency variances are isolated at the time of usage. 1. compute the january 2017 price and efficiency variances of direct materials and direct manufacturing labor. 2. prepare journal entries to record the variances in requirement 1. 3. comment on the january 2017 price and efficiency variances of schuyler corporation. 4. why might schuyler calculate direct materials price variances and direct materials efficiency variances with reference to different points in time

Identify the level of the literature hierarchy for u.s. gaap to which each item belongs

During a liquidation, a partner's capital account balance drops below zero. what should happen? select one: a. the deficit balance should be removed from the accounting records with only the remaining partners sharing in future gains and losses.b. the partner with a deficit should contribute enough assets to offset the deficit balance if he is solvent.c. the other partners should contribute enough assets to offset the amount of deficit if the partner with a deficit is insolvent.d. both b & c