Answer:
Actual Quantity= 9,000 hours
Explanation:
Giving the following information:
Direct-labor efficiency variance= $6,000 favorable
Standard rate= $12.00.
Standard quantity= 9,500
<u>To calculate the actual hours worked, we need to use the following formula.</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
6,000 = (9,500 - Actual Quantity)*12
6,000= 114,000 - 12Actual Quantity
12Actual Quantity = 108,000
Actual Quantity= 9,000 hours
Maintaining quality involves producing what the customer wants while reducing errors before and after delivery to the customer.
Answer:
Answer is option b i.e. large lot sizes to save on setup costs and to gain quantity discounts.
Explanation:
The just-in-time partnership is a Japanese management strategy that increases efficiency by minimizing the inventory to manufacture products with zero defects. Toyota was the first to use this strategy to increase the quality of the manufactured product by reducing wastes and increasing productivity. This strategy does not include large lot sizes to save on setup costs but rather focuses on buying only the required amount of inventory which is required for the production. Hence, the answer is option b.
Answer:
D) a society's wants exceeding its scarce resources.
Explanation:
All resources are scarce, starting with time, money, materials, everything. Even the richest person or corporation in the world, has a limited amount of money (it may be huge, but it is still limited). There is not enough to satisfy the needs of society, not enough food, money, cars, clothes, phones, TVs, space, etc.
There are some things that seem to be unlimited though, and those are our needs, wants and desires. One of humankind's greatest defects is that there is no balance (or enough) in our lives, we always want more and more. That is why we are killing our own world and justify it by saying that our lives are getting better.
Answer: will increase if the quantity effect outweighs the price effect
Explanation:
A monopolist is an individual or a firm that controls all the market for a certain good or service in the market. A monopolist has so much power and usually doesn't improve their product as there are no alternatives.
An increase in output by monopolist will increase if the quantity effect outweighs the price effect.
