They function as consumers and producers because while they work, they are creating goods/ providing services that contribute to the economy. When they get paid, they become consumers who buy goods/pay for services.
Answer:
Option D. 5,400 9,000
Explanation:
The computation for the number of units produced is shown below:
But before that first determined the following calculations
Particulars Spoons Forks
Selling Price $150.00 $88.00
Less:
Variable cost per unit $80.00 $42.00
Contribution margin
per unit $70.00 $46.00
Machine hour per unit 5 3
Contribution margin
per machine hour $14.00 $15.33
As we can see that the contribution margin per machine hour of the fork is greater so it should be the first utilized
For 9,000 forks, total machine hours is
= 9,000 × 3
= 27,000
Now no of the spoons produced would be
= 27000 ÷ 5
= 5,400
Answer:
Deposits in transit
Explanation:
A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.
When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.
Definition:
Contributions that bring benefits over and above those directly associated with the core business activities and events. These contributions can include monetary, employee time, employee resources, and gifts of any kind.
Answer:
d. beyond some point, the production costs of additional units of output will rise
Explanation:
To answer this question you need to know the concept of marginal productivity. This concept is associated with input productivity and aims to explain how many inputs are needed to produce one more unit of output. Firms seek to produce more units with fewer inputs. Thus, the ideal is for marginal productivity to be increasing. This can happen over time as production increases. However, at some point marginal productivity will decrease and this will increase production costs if the firm does not stop producing.
To be clear, follow an example. Imagine that a pizza parlor uses two employees to produce 5 pizzas per hour. Now imagine that the pizza factory is experiencing increased demand for pizza and hiring more an employee. Now the pizzeria has hired 1 more employee and produces 10 pizzas. Note that hiring 1 employee increased the total productivity of the pizzeria. Previously 5 pizzas were produced by 2 employees, an average of 2.5 pizzas per employee. After hiring the third employee, this production increased to 3.3 pizzas per employee. Now imagine that the pizzeria hires 3 more employees and produces only 14 pizzas, an average of 2.3 pizzas per employee. In this case, productivity decreased due to structural factors, such as the number of ovens and the size of the pizzeria. Therefore, in the long run, production costs tend to increase when firms increase production greatly.
