Please read the full article from WSJ “What's the Beef? Food-Inflation Fears” This article either describes a) a shift in demand, OR b) a shift in supply, OR c) Both.
a) THE ARTICLE DESCRIBES A CHANGE IN DEMAND:
- DESCRIBE the event (or events) causing it and whether each demand changing event is increasing or decreasing demand. Also describe how you would show any identified demand change(s) on a graph (and ideally also show it on a graph).
– Describe how THIS DEMAND CHANGE ALONE impacted, a) equilibrium price, and b) equilibrium quantity (i. e., did each increase or decrease). Ideally also draw a supply and demand diagram showing this.
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b) THE ARTICLE DESCRIBES A CHANGE IN SUPPLY:
- DESCRIBE the event (or events) causing it and whether each Supply changing event is increasing or decreasing Supply. Also describe how you would show any identified Supply change(s) on a graph (and ideally also show it on a graph).
– Describe how THIS SUPPLY CHANGE ALONE impacted, a) equilibrium price, and b) equilibrium quantity (i. e., did each increase or decrease). Ideally also draw a supply and Supply diagram showing this.
c) Now, combine the two events. Explain how THE COMBINATION OF THE TWO EVENTS change Equilibrium price. Explain how THE COMBINATION OF THE TWO EVENTS changed Equilibrium Quantity. Again, ideally draw a third supply and demand diagram showing this.

During the year, the delph company had no beginning or ending inventories and it started, completed, and sold only two jobs—job d-75 and job c-100. it provided the following information related to those two jobs: job d-75: molding fabrication total direct materials cost $ 375,000 $ 325,000 $ 700,000 direct labor cost $ 200,000 $ 160,000 $ 360,000 machine-hours 15,000 5,000 20,000 job c-100: molding fabrication total direct materials cost $ 300,000 $ 250,000 $ 550,000 direct labor cost $ 175,000 $ 225,000 $ 400,000 machine-hours 5,000 25,000 30,000delph had no overapplied or underapplied manufacturing overhead during the year. assume delph uses a plantwide overhead rate based on machine-hours.1-a. compute the predetermined plantwide overhead rate.1-b. compute the total manufacturing costs assigned to job d-70 and job c-200.1-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 1-d. what is delph's cost of goods sold for the year? assume delph uses departmental overhead rates based on machine-hours.2-a. compute the predetermined departmental overhead rates.2-b. compute the total manufacturing costs assigned to job d-70 and job c-200.2-c. if delph establishes bid prices that are 150% of total manufacturing costs, what bid price would it have established for job d-70 and job c-200? 2-d. what is delph's cost of goods sold for the year?