Interview example:

• client is a leading food company that wants to develop a fresh prepared meal business
• trend among consumers is toward fresher food with no artificial preservatives or coloring
• consumers are currently purchasing $5 0 billion of frozen meals—trendis toward more upscale products
• a fresh meal plate combining a protein, vegetable and starch is delicately arranged in a sealed plastic dome package
• nitrogen gas flushing is used to extend shelf life
• product is currently in limited consumer test at $5 50 to $850 per meal
• shelf life of product is 14 days— product will spoil in 21 dayspotentially causing food poisoning
• client wants to know if they can make money in this business
• client wants to know if the market is big—
how will they keep competition out?

1. all other things equal, according to the law of demand, when the price of a good falls, the demand for the good falls the demand for the good rises the quantity demanded of the good falls the quantity demanded of the good rises 2. when a market is in equilibrium, the quantity of the good that buyers are willing and able to buy exactly equals the quantity that sellers are willing and able to sell cannot be determined is less than the quantity that sellers are willing and able to sell is greater than the quantity that sellers are willing and able to sell 3. which of the following factors does not influence the demand for a good or service? consumer (buyer) income the price of related goods the number of sellers buyer expectations 4. when the number of sellers in a market increases, demand rises supply rises the price rises, all else equal the number of buyers falls

Gamegirl inc., has the following transactions during august. august 6 sold 76 handheld game devices for $230 each to ds unlimited on account, terms 2/10, net 60. the cost of the 76 game devices sold, was $210 each. august 10 ds unlimited returned six game devices purchased on 6th august since they were defective. august 14 received full amount due from ds unlimited. required: prepare the transactions for gamegirl, inc., assuming the company uses a perpetual inventory syste

The smelting department of kiner company has the following production and cost data for november. production: beginning work in process 3,700 units that are 100% complete as to materials and 23% complete as to conversion costs; units transferred out 10,500 units; and ending work in process 8,100 units that are 100% complete as to materials and 41% complete as to conversion costs. compute the equivalent units of production for (a) materials and (b) conversion costs for the month of november.