Answer: $2,200 Unfavorable
Explanation:
Volume variance is the difference between actual and budgeted output so can be calculated by;
= (Budgeted output - Actual output) * overhead rate
= (4,900 - 3,800) * 2
= $2,200 Unfavorable
<em>Unfavorable because they produced less than the budget indicated that they would. </em>
Answer:
maturity
Explanation:
The four stages of a product's life cycle are:
- introduction: the new product is released in the market (it is born), sales are slow and advertisement costs are high.
- growth: sales volume increases, customers know about the product, and competing firms are starting to launch their own versions of the product.
- maturity: sales growth stops, which means that total sales reached a zenith, companies fight to keep their share of the market and generally launch different versions of the product to keep customers interested.
- decline: sales volume starts to decrease as the product becomes obsolete. Finally the product will stop being produced (the product dies).
Answer: 6%
Explanation:
The annual payments can be considered to be annuity payments as they are constant. The amount borrowed can be considered the present value of the annuity.
Present value of annuity = Annuity * Present value interest factor of annuity, 8 years, %?
178,960 = 28,819 * Annuity factor
Annuity factor = 178,960 / 28,819
= 6.20979
To find out the interest rate, look at the Present Value of Annuity table and go to the 8 period column. Look for 6.20979. The interest rate that intersects with this factor is the interest rate implicit in this agreement.
That rate is 6%.
Answer:
c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.
Explanation:
The doctrine of <em>innocent spouse relief</em> might apply here. Mrs. Jones will have to prove that:
- the income that was omitted was earned by her husband, not her.
- she must prove that when she signed the tax filings, she was not aware of the omission.
- after examining all the facts surrounding the omission, the IRS must decide that blaming her would not be fair.
Answer:
There is little cooperation, relative to other economies.
The participants in the economy are slow to adopt new beneficial technologies due to previous customs.
Occupational choices can be restricted.
Explanation:
<em>Traditional economies</em> are old economy types that rely mainly on barter as a a mean of exchange. Their customs and tradition hinder changes related to technology, showing high resistance to change. Since economy is mainly based in the primary economy sector, occupational choices are usually limited for inhabitants.
There is the absence of international trade, as barter is the reigning exchange method done only inside the country.
