Answer:
A simple model of a firm describes it as an entity that buys production factors – (for example, labor) and sells its output (goods and services). A firm’s input prices, which affect costs, are generally fixed in the short run (like wages, that are established by contract and must be respected during the period they were stablished), while a firm’s output prices, which affect revenue, are adjustable (they do not depend on a contract). Therefore, an increase in the short-run price level raises revenue more than costs, so firms produce more in the short run. Consequently, the SRAS curve slopes upward.
In the long run, however, firm’s input prices are variable, and they will adjust together with the firm’s output prices, making LRAS perfectly inelastic in the potential level of production.
Answer:
$129,600
Explanation:
Calculation for want the total budgeted manufacturing overhead for october is
Using this formula
Total budgeted manufacturing overhead = Variable manufacturing overhead + Fixed manufacturing overhead
Let plug in the formula
Total budgeted manufacturing overhead= (8,000 × $1.70) + $116,000
Total budgeted manufacturing overhead = $13,600 + $116,000
Total budgeted manufacturing overhead= $129,600
Therefore the total budgeted manufacturing overhead for october is $129,600
Answer:
according to what i had read
Explanation:
What is the difference between liberal arts college and a university?
The main difference between liberal arts college majors and university majors is that liberal arts schools generally offer one expansive area of study, whereas at universities, the same major may be broken into two or more degree tracks. ... They can major in mathematics and still end up in an engineering career.
A liberal arts college or liberal arts institution of higher education is a college with an emphasis on undergraduate study in the liberal arts and sciences. ... Most liberal arts colleges outside the United States follow this model.College vs. University
A smaller institution that usually offers undergraduate degrees is considered a college. ... In contrast, an institution that offers both undergraduate and graduate degrees is considered a university. They offer undergraduate programs that will lead a student towards a master's degree or a doctorate
Answer:
4400 Unfavorable
Explanation:
Calculation to determine the labor rate variance for the month
First step is to calculate the Standard hours using this formula
Standard hours = Standard labor-hours per unit of output*Actual output
Let plug in the formula
Standard hours= 4.5*1,300 units
Standard hours= 5850
Now let calculate the Direct labor efficiency variance using this formula
Direct labor efficiency variance = (Standard hours - Actual hours)*Standard rate
Let plug in the formula
Direct labor efficiency variance= (5,850-6,100)*17.60
Direct labor efficiency variance= 4400 Unfavorable
Therefore the labor rate variance for the month is 4400 Unfavorable
