Diamond Design Company makes custom chairs for individual customers. On September 1, there was one job in process, Job 243, with
a cost of $2,000. Jobs 244, 245, and 246 were started during the month of September. Data on costs added during the month are as follows:
Job 243 Job 244 Job 245 Job 246Direct Materials $9,000 $2,280 $6,700 $8,000Direct Labor 2,240 1,000 2,300 2,530Overhead is applied to production at the rate of 60% of direct labor cost. Job 245 was completed on September 14 and the client was billed at cost plus 40%. All other jobs remained in process.
Calculate the balance in Work-in-Process on September 30.a. $15,820b. $17,717c. $30,512d. $22,875e. $32,820
Job 243 Job 244 Job 245 Job 246Direct Materials $9,000 $2,280 $6,700 $8,000Direct Labor 2,240 1,000 2,300 2,530Overhead is applied to production at the rate of 60% of direct labor cost. Job 245 was completed on September 14 and the client was billed at cost plus 40%. All other jobs remained in process.
Calculate the balance in Work-in-Process on September 30.a. $15,820b. $17,717c. $30,512d. $22,875e. $32,820
1 answer:
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Answer:
cyclical unemployment.
Explanation:
Unemployment rate refers to the percentage of the total labor force in an economy, who are unemployed but seeking to be gainfully employed. The unemployment rate is divided into various types, these include;
I. Cyclical unemployment rate (CU).
II. Frictional unemployment rate (FU).
III. Structural unemployment rate (SU).
IV. Actual unemployment rate (AU).
V. Natural Rate of Unemployment (NU).
A cyclical unemployment can be defined as a type of unemployment which is typically related to changes in the business, economy or industry cycle such as recession, governmental policies etc.
Mathematically, cyclical unemployment rate can be calculated using the formula;
Hence, the increase in unemployment that occurs during recessions and depressions is called cyclical unemployment