Answer:
The total production costs when 105 comma 000 toys are produced are $467,500
Explanation:
Manufacturing or production costs are the costs which is incurred to Manufacture / produce the products being sold.
Total Manufacturing Cost = $370,000
Variable cost = $130,000
Variable cost per unit = $130,000 / 60,000 = $2.17
Total Fixed Cost = Total Manufacturing cost - Variable cost
Total Fixed Cost = $370,000 - $130,000 = $240,000
Total Production cost = Variable cost + Fixed Cost
Total Production cost = ( 105,000 x 2.17 ) + $240,000
Total Production cost = $227,500 + $240,000 = $467,500
There are four types of businesses organisation. Sole trader is owned by one person and he makes all the decisions, and earns profit and bears the loss himself. A partnership is owned by 2 or more people and they help each other. The profit and loss is divided between them.
Answer:
Frictional unemployment occurs when people decided to leave their jobs and look for another or people join the labor force for the first time.
Structural unemployment arises from a situation where there is a mismatch between the skills needed in an economy and the skills possessed by people. Happens a lot when employees need to adapt to new technology.
Cyclical unemployment happens as a result of the economy either growing or shrinking.
a. Andrew recently lost his job as an accountant for a large firm because he only knows how to perform the job using a general ledger (paper and pencil), and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ <u>STRUCTURAL UNEMPLOYMENT. </u>
b. Sam recently lost his job as an accountant for a large firm because he only knows how to perform the job a using a general ledger and has been unwilling to learn how to use newly invented accounting software provided by the company. ⇒ <u>STRUCTURAL UNEMPLOYMENT.</u>
c. Teresa just graduated from college and is looking for a full time position with an investment banking firm. ⇒ <u>FRICTIONAL UNEMPLOYMENT. </u>
d. A recent recession has reduced the number visitors to a local theme park. The park has had to lay off many of its employee, including Beth. ⇒ <u>CYCLICAL UNEMPLOYMENT. </u>
