Culinary Enterprises Manufactures Cookware Sets and Sells the Sets to Department

question 44

Multiple Choice

Culinary Enterprises manufactures cookware sets and sells the sets to department stores.Culinary expects to sell 2600 cookware sets for $220 each in April and 3000 cookware sets for $235 each in May.Sales are 25% cash and 75% on account.Compute the total budgeted sales for May.

• A)$705,000
• B)$572,000
• C)$176,250
• D)$528,750

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Definitions:

Close Substitutes

Products or services that can easily replace each other in the eyes of the consumer, resulting in a high degree of interchangeability and competition.

Single Firm

A business or company that operates alone in its industry without competitors.

Purely Monopolistic

Characterizes a market scenario where one entity exclusively controls the entire market for a product or service, eliminating all direct competition.

Downsloping Demand Curve

A graph representing the relationship between the price of a good and the quantity demanded, indicating that as price decreases, demand increases.