Answer: The consumption schedule shows the amounts households intend to consume at various possible levels of aggregate income.
Explanation: Consumption function, in economics, the relationship between consumer spending and the various factors determining it. At the household or family level, these factors may include income, wealth, expectations about the level and riskiness of future income or wealth, interest rates, age, education, and family size.
A consumption schedule is a table of numbers showing the relation between consumption expenditures and income for the household sector. The income measure commonly used is national income or disposable income. Occasionally a measure of aggregate production, such as gross domestic product, is used instead.
Answer:
The cost assigned to Job 7 at the end of the week is 5,700 dollars.
Explanation:
In job order costing the cost that is to be assign to a specific order is sum of actual direct material cost and actual labour cost require to perform that job. Factory overheads are also added to the job cost on the basis of allocation method (on basis of budgeted applied OH rate).
So Following costs will be assign to Job 7.
RAW materail = $ 700
Labor Cost = $ 3000
Overhead = $ 2000 (10* 20)
Total Cost = $ 5700