Explanation:
Compare and Contrast ->
Roles of the federal government -> Promoter & Regulator of industrial growth
U.S.Government => Promoter & Regulator of industrial growth
Pacific Railway Act (1862)-They have been granted 20 square miles of land per 1 mile of the track laid down. It strongly encouraged the construction of transcontinental railway lines, contributing to five different transcontinental roads: Union Pacific RR, Central Pacific RR, South Pacific RR, North Pacific RR and the Great North. The Grants Act of Morrill Land (1862)-gave state free land.
U.S.Government => Roles of the federal government
Sherman Antitrust Act (1890)The purpose was to promote economic competition through the regulation of shares, cartels and monopolies. It was very uncompromisingly applied Interstate Trade Act (1887). It also prohibits discrimination against shippers and pays more on the same train for shorter routes than for longer routes.
Thesis:
In the 19th Century and in themid-19th Century, the government of the United States was much more a proponent of industrialisation then an industrialisation regulator than a regulator.
In the year 1862, for instance, congress took place on the Pacific Railway Act, which gave the railway lines 20 acres per mile. This eventually culminated in five transcontinental trains: Union Pacific Railways, Central Pacific Railways, North American Railways, South Pacific Railways, and the Great North.In end, this resulted in the creation of booming towns in the west, encouraging manufacturers to relocate to their inhabitants and enabling businesses to sell their products to remote locations that were once hard to reach. Congress also enacted Morrill's 1861 Tariff Act which substituted for a higher tariff for the limited import tariff inserted in 1816. This shielded businesses from foreign competitors and increased their profits so that they could increase their power. The US government in general has been a more aggressive manufacturing supporter.
A Standard Cost Variance is a difference between the actual cost incurred and the standard cost against which it is measured.
The main difference between normal costing and standard costing is that normal costing uses actual costs for material and direct labor costs, whereas standard costing uses predefined costs for these two items. That's it.
This difference between standard cost and actual cost is called variance. An unfavorable variance occurs if the actual cost is higher than the standard.
The main difference between marginal costing and standard costing is that marginal cost is a subset of standard cost and standard is a superset of marginal costing. Description: Standard costing is a costing method and there are two types of costing methods.
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Answer:
$54,000
Explanation:
Calculation to determine what the amount of Human Resources cost allocated to the Assembly Department is:
Using this formula
Human Resources cost allocated to the Assembly Department=Human Resources budgeted costs* Human resource percentage
Let plug in the formula
Human Resources cost allocated to the Assembly Department=$90,000 x 60%
Human Resources cost allocated to the Assembly Department = $54,000
Therefore Using the step-down method and assuming the Human Resources Department is allocated first, the amount of Human Resources cost allocated to the Assembly Department is:$54,000
Answer:
GDP [Expenditure Approach] is $7,040, Depreciation is $920
Explanation:
The formula for calculating GDP [Expenditure Approach] is Consumption expenditure + Investment + Government expenditure + Exports − Imports
Mathematically,
Y = C + I + G + (X − M)
Where C = $7,000, I = $160, G = $180, (X-M) = -$300
Y = 7000 + 160 + 180 - 300 = $7,040
GDP [Expenditure Approach] is $7,040
Depreciation = GDP - NDP
NDP = wages + profits + interest + rent + net factor income of unincorporated businesses
Where wages = $5,900, profits + interest + rent = $220, net factor income from abroad = $0
NDP = 5900 + 220 + 0 = $6,120
Applying Depreciation = GDP - NDP, we have:
Depreciation = 7040 - 6120 = $920
N.B: The depreciation is a measure of the statistical discrepancy between the GDP and NDP
Solution :
a). The assigned total cost is :
Total overheads $ 500,000
Total hours 250,000
Plantwide overhead rate $ 2
Cost assigned to :
A ( 2 x 4 x 1000) $ 8,000
B ( 2 x 4 x 3000) $ 24,000
b). Department 1 Department 2
Overheads $ 300,000 $ 200,000
Hours 200,000 50,000
Overhead rate $ 1.50 $ 4.00
Overheads for the product A $ 8,500
(1.5 x 3 + 4 x 1) x 1000
Overheads for the product B $ 40,500
(1.5 x 3 + 4 x 1) x 3000
c). Plant wide Departmental
material and labor $ 10 $ 10
overheads $ 8 $ 13.50
Total $ 18.00 $ 23.50
Add: profit $ 7.20 $ 9.40
Selling price $ 25.20 $ 32.90
The difference $ 7.70
Therefore, the increase in the selling price = $ 7.70
