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1 year ago

Use the drop-down menu to complete each statement.

Business

1 answer:

podryga [215]1 year ago

5 0

According to this graph, at $10 the quantity supplied is about 14.

As the price of the good rises, the quantity supplied will be increasing.

In the graph, as the price of the good is rising the quantity supplied is also rising, When the price is $10.00 then the quantity supplied is 14 when the price is $15.00 then the quantity supplied is 24 and when the price is $17.50 the quantity supplied is 30.

The volume of a resource, service, or item that people are prepared and able to sell during a certain time period at a given price. If a good's price increases, more of that good is supplied, all other things being equal. When a product's price declines, less of that product is produced.

Two fundamental economic theories are combined in the law of supply and demand to explain how changes in the price of a resource, good, or service impact its supply and demand. Supply grows as the price rises, but demand drops. In contrast, as the price falls, supply is constrained and demand is increased.

The law of supply is a microeconomic principle that asserts, with all other things being equal, that if the cost of an item or service rises, suppliers will offer more of those goods or services and vice versa.

Learn more about the Law of Supply here:

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Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance

bezimeni [28]

Answer:

Guillermo's Oil and Lube Company

Calculating the Direct Labor Rate Variance and the Direct Labor Efficiency Variance

a1. Direct labor rate variance (LRV) = Actual Labor Rate minus Standard Labor Rate multiplied by Actual hours worked

= $16 - $15 x 291

= $291 U

a2. Direct labor efficiency variance (LEV) = Standard hours minus Actual hours x Standard hourly rate

= 297 - 291 x $15

= $90 F

b1. Direct labor rate variance (LRV) = the difference between the actual wages paid and the standard wages

= (Actual labour rate x actual hours) - (standard rate x actual hours)

= ($16 x 291) - ($15 x 291)

= $4,656 - $4,365

= $291 U

b2. Direct labor efficiency variance = the difference between the actual number of direct labor hours worked and budgeted direct labor hours that should have been worked based on the standards

(291 x $15) - (297 x $15)

4,365 - 4,455

= $90 F

c. Total Direct labor rate variance (LRV) = Actual Wages minus Standard Wages

= (Actual labor rate x Actual hours) - (Standard labor rate x Standard hours)

= ($16 x 291) - ($15 x 297)

= $4,656 - $4,455

= $201 U

d. If actual wage rate paid in June was $14.00:

d1. Direct labor rate variance (LRV) = Actual Labor Rate minus Standard Labor Rate multiplied by Actual hours worked

= $14 - $15 x 291

= $291 F

d2. Direct labor efficiency variance (LEV) = Standard hours minus Actual hours x Standard hourly rate

= 297 - 291 x $15

= $90 F

d3. Total Direct labor rate variance (LRV) = Actual Wages minus Standard Wages

= (Actual labor rate x Actual hours) - (Standard labor rate x Standard hours)

= ($14 x 291) - ($15 x 297)

= $4,074 - $4,455

= $381 F

Explanation:

a) Data and Calculations

Actual number of oil changes performed: 990

Standard number of direct labor hours to for 990 oil changes = 990 x 0.3 hours (since 18 minutes = 0.3 hours or 18/60) = 297 hours

Actual number of direct labor hours worked: 291 hours

Actual rate paid per direct labor hour: $16.00

Standard rate per direct labor hour: $15.00

b) The impact on direct labor rate variance if the actual wage rate paid in June was $14 was to turn the unfavorable labor rate variance into a favorable variance of $291 and the total direct labor variance would have been a favorable variance $381 instead of an unfavorable variance of $201.

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3 years ago

How can using the Pen tool improve the quality of your presentation?

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Candice tells Yuri that she wants to hear his ideas about the Q4 Finance Report, and Yuri says that they should compare it to la

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4 years ago

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Answer:

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Explanation:

Given the goal of purchasing a boat that will cost $30,000 in 20 years, David needs to earn an interest computed below on his investment in the savings account.

Interest required = 30,000 - 12,000

= 18,000

Therefore the minimum rate of interest that will achieve this goal,

= Principal * rate * time = target amount

= 12,000 * R * 20 years = 18,000

= R = 18,000/(12,000*20) = 0.075 = 7.5%.

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Answer:

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Generally, a business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan. The components of a business strategy includes the following;

I. Mission.

II. Value.

III. Vision.

Hence, when you wish to build alliance management capabilities in small companies, it is highly recommended that business firms take the non-equity alliance approach.

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3 years ago

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