All of the products a company sells in a particular category are called a.

The manufacturing overhead budget at Foshay Corporation is based on budgeted direct labor-hours. The direct labor budget indicat

pantera1 [17]

Answer:

The predetermined overhead rate for May should be: $18.70 per direct labor hour

Explanation:

Predetermined Overhead rate is the rate that is used to allocate Overheads to Departments or Jobs.

<em>Predetermined Overhead rate = Budgeted Overheads / Budgeted Activity</em>

= $134,640/7,200

= $18.70 per direct labor hour

7 0

3 years ago

Both Amy and Brad produce and consume apple pie and ice cream. In one hour, Brad makes five apple pies or ten gallons of ice cre

Arte-miy333 [17]

Answer:

Amy has absolute advantage in the production of Apples pies and ice cream.

Amy has comparative advantage in the production of Apple pies.

Brad has a comparative advantage in production of ice creams

Amy should specialise in the production of Apple pies, brad should specialise in the production of icecream

Explanation:

A person has comparative advantage in production if he produces at a lower opportunity cost when compared with other people.

Brad's opportunity cost:

In producing apple pies = 10 / 5 = 2

In producing ice cream :5 / 10 = 0.5

Amy's opportunity cost:

In producing apple pies : 15/15 = 1

In producing icecreams : 15/15 = 1

Amy has the lower opportunity cost when compared with Brad in producing apples pies. Therefore, she has comparative advantage in the production of Apple pies.

Brad has the lower opportunity cost when compared with Amy in producing ice cream. Therefore, he has comparative advantage in the production of ice cream.

A person should specialise and trade the good for which she has a comparative advantage.

A person has absolute advantage in the production of a good or service If he produces more quantity of the good when compared with other people.

Amy has absolute advantage in the production of both goods.

6 0

3 years ago

Suppose a parcel of land promises to return $750 per year per acre. what is the capitalized value of the land if the interest ra

sergij07 [2.7K]

A capitalized value of land is the value of the land calculated on Total return per year divided by the interest rate.

The capitalized value of land = Return on land per year ÷ Interest rate

Where Return on land per year = $750

Interest Rate = 7%

The capitalized value of land = $ 750 ÷ 0.07

= $ 10,714.29

Therefore, the capitalized value of land if the interest rate is 7% is $ 10,714.29.

6 0

3 years ago

Hayne Co. filed suit against Hillsborough, Inc., seeking damages for copyright violations. Hillsborough's legal counsel believes

kolbaska11 [484]

Answer:

D) As a disclosure only. No liability is reported

Explanation:

US GAAP requires that probable contingent liabilities (like lawsuits) are disclosed in the footnotes of the financial statements. If it is probable that the liability will exist, in this case that Hillsborough will lose the case, then they must record the contingent liability at its most reasonable amount. If the amount cannot be estimated, then they must record it at its lowest amount. The key word is "probable", since it must be likely that the event occurs in order for it to be recorded in the footnotes.

7 0

4 years ago

For sara, ramen noodles are a normal good, however sean considers ramen noodles to be inferior. if sara and sean have the same a

avanturin [10]

<span>In this case, Sara will see the ramen as a good that is more elastic in demand than will Sean. This will mean that, as income drops for Sara, she will purchase less of the good than will Sean. Sean will end up purchasing less of the good if he has an increase in income.</span>

8 0

4 years ago