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2 years ago

Importance of economic growth

Business

1 answer:

svlad2 [7]2 years ago

8 0

Answer:

Economic growth generates job opportunities and hence stronger demand for labour, the main and often the sole asset of the poor. In turn, increasing employment has been crucial in delivering higher growth.

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The breakeven point decreases if? ________.

MAXImum [283]

Beak-even point (BEP) in business is the point at which total cost and total revenue are equal. There is no net gain or loss, and one has "broken even", though opportunity costs have been paid and capital has received the risk-adjusted, expected return.
The formula for break-even is given by:
BEP=(Fixed Costs)/(Sales Price per Unit-Variable Cost per Unit)

From the above formula we can conclude that:
When Fixed costs reduces, the BEP decreases. Therefore the answer is [a]

3 0

4 years ago

Imagine Joanne has an employee, Cynthia, whose only job is to restock shelves in the kitchen. Whenever Cynthia is busy she has t

Triss [41]

The act of specialization is the division of a work process into distinct tasks that are necessary to the organisation or business but cannot be carried out by a single person.

What Are the Economic Impacts of Specialization?

When the innate differences in human productivity are accentuated along different skill lines, specialization and the complementary concept of division of labour occur.
A person becomes more economically specialised as they focus their productive efforts on an ever-narrower range of tasks.
The most obvious economic impact of specialization is the propensity for people to choose a variety of professions that are more in line with their interests, capabilities, chances, and education.
Economic agents that concentrate on a certain task become more adept at it. Because repetition and muscle memory increase productivity, both preschoolers and professional athletes practise before a game.

To know more about Specialization visit:

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7 0

2 years ago

A corporation uses the indirect method for preparing the statement of cash flows. A fixed asset has been sold for $23,649 repres

Alexus [3.1K]

Answer:

a. $(3,881)

Explanation:

Gain on sale of fixed assets is an income. To be included in the operating section of the cash flow statement, we need to deduct the gain. The disposal of the fixed assets will go to the investing section. As the gain of the sale of assets is already added to the net income in the income statement, it will be deducted to make the accounting procedure transparent. Therefore, <em>option A</em> is correct.

6 0

3 years ago

One of the benefits of planning is how it:

Lorico [155]

Answer:

b. encourages people to engage in behaviors directly related to goal accomplishment

Explanation:

When companies engage in planning, they establish a guide for the operations, setting goals and preparing the strategies and actions that will help accomplish those goals. Because of this, planning helps the employees to focus and work towards achieving the objectives.

7 0

3 years ago

Koontz Company manufactures a number of products. The standards relating to one of these products are shown below, along with ac

Alexeev081 [22]

Answer:

1. a. The Material price variance is $8,050 U

The Material quantity variance is $920 F

b. The Labor rate variance is $6,555 F

The Labor efficiency variance is $10,350 U

c. The Variable overhead rate variance is $4,370 F

The Variable overhead efficiency variance is $3,450 U

2. Excess of actual cost over standard cost per unit is $12,600.00 U

3. Portion due to other variances is $1,200.00 F

Explanation:

1. a. To calculate the Materials price and quantity variances we would have to use the following formula:

Material price variance = (SP - AP) * AQ = ($1.60 - $2) * (11,500*1.75) = $8,050 U

Material quantity variance = (SQ - AQ) * SP = (11,500*1.80 - 11,500*1.75) * $1.60= $920 F

b. To calculate the Labor rate and efficiency variances we would have to use the following formula:

Labor rate variance = (SR - AR) * AH = ($18 - $17.40) *(11,500*0.95) = $6,555 F

Labor efficiency variance = (SH - AH) * SR = (11,500*0.90 - 11,500*0.95) * $18 = $10,350 U

c. To calculate the Variable overhead rate and efficiency variances we would have to use the following formula:

Variable overhead rate variance = (SR - AR) * AH = ($6 - $5.60) * (11,500*0.95) = $4,370 F

Variable overhead efficiency variance = (SH - AH) * SR = (11,500*0.90 - 11,500*0.95) * $6 = $3,450 U

Variance

Materials:

Price Variance $8,050 U

Quantity Variance $920.00 F $7,130.00 U

Labor:

Rate variance $6,555.00 F

Efficiency varianc $10,350.00 U $6,390.00 U

Variable overhead:

Rate variance $4,370.00 F

Efficiency variance$3,450.00 U $920.00 F

Excess of actual cost over standard cost per unit $12,600.00 U

Variance

Excess of actual over standard $12,600.00 U

cost per unit

Less: Portion attributable to labor efficiency:

Labor Efficiency variance $10,350.00 U

Variable overhead Efficiency variance $3,450.00 U $13,800.00 U

Portion due to other variances $1,200.00 F

5 0

3 years ago

Importance of economic growth​

Importance of economic growth