Answer:
The answer is D
Explanation:
Solution:
Recall that:
Malloy Furniture purchases two products: Big shelves B and Medium shelves M
The cost of big shelf is =$500
The space required = 100 cubic feet
The cost of each medium shelf is =$300
Storage space = 90 cubic feet,
Now,
Since the values 100 and 90 is greater than 18000 cubic feet available for storage, what is required would be 100 big shelves and 100 medium shelves
Answer:
The variable cost per unit is $1.54
Explanation:
Variable costs are those cost which vary with the change in production of units means higher the production higher cost and lower production will result in lower cost e.g Material cost, labor cost etc.
On the other hand fixed cost the cost which does not vary with the production of units. It is fixed no matter what is the level of production.
According to given data:
Total Cost = $500,000
Fixed Cost = $260,000
Variable cost = Total cost - fixed cost
Variable cost = $500,000 $260,000
Variable cost = $240,000
Number of units = 156,000
Variable cost per unit = $240,000 / 156,000 = $1.54 per unit
Answer:
An economic system is defined by the way scarce resources are distributed in an economy.
There are 4 types of major economic systems which are following;
- A mixed economy is an economic system, like its name is a mix of elements of planned economies, free markets with intervention of the state and public enterprises.
- A command economy is a system where the government is key decision maker of what goods and services will be produced and introduced by the economy.
- A market economy is the one in which the investment, production and distribution are dictated by the forces of demand and supply.
- A traditional economic system is a result of customs, history and cultural norms which include the rules and manner of their distribution as well.
The answer is B because both have access to capital that competitive markets wouldn’t give them because they dominate the market place and drive out competitors
Answer:
Possible causes of material quantity variance:
1. The use of sub-standard material
2. The use of unskilled labour
3. Wastage of material
Explanation:
Material quantity variance is the difference between standard quantity and actual quantity used multiplied by standard price. The use of sub-standard material reduces the quality of output thereby resulting to unfavorable material quantity variance. The use of unskilled labour also leads to unfavorable material quantity variance. Wastage of material due to low quality of inputs also results to unfavorable material quantity variance.
