Weather in India
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Salman is planning o set up a booth at the weekend market.Frompast experience , he has learned that sales at the market fluctuatewith both the weather and the advertising he purchases in the localnewspaper.For the coming weekend, if he purchases advertising , hecan expect to make a profit of $8,000 on goods sold(9000 less 1,000in advertising), if the weather is good, however , if the weatheris bad he will only make a profit of $3,000 .if he doesn't purchaseadvertising , he can expect to sell 40% less.For the coming weekend, there is a 75% chance of good weather.
Calculate the expected profit for the coming weekend if Salmandoes not advertise.
North Wind manufactures decorative weather vanes that have astandard materials cost of two pounds of raw materials at $1.50 perpound. During September 8,000 pounds of raw materials costing $1.55per pound were used in making 3,600 weather vanes.Determine the materials price and quantity variance.Materials price varianceMaterials quantity variance
Suppose that a company has a facility located where disastrousweather conditions often occur. Should it report a probable lossfrom a future disaster as a liability on its balance sheet?Explain.