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3 years ago

A method often used by economists to look at distribution of income in a society's economy involves:__________

Business

1 answer:

goblinko [34]3 years ago

3 0

Answer:

Quintiles, or dividing a whole group into fifths

Explanation:

Income can be described as the amount of money gotten from the sale of a particular good or service. In a country with a large population, it is necessary that the income generated in the country be distributed among the population.

This distribution is important for the development of a country as it helps to reduce the poverty rate.

Income distribution can be defined as the process in which a country gross domestic product is shared among the population. GDP is the amount of money acquired by a country after the sale of goods and services.

Quintiles method is carried out by categorizing all households according to the amount of income that is earned. This classification is done by grouping them from the lowest amount of income to the highest amount. These households are then divided into five groups with each of them having equal number of persons.

Hence economists make use of the quintiles method or dividing a whole group into fifths because it is very effective in income distribution.

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3 years ago

Engineworks Co. provides the following fixed budget data for the year: Sales (20,000 units) ……………………………. $600,000 Cost of sale

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Answer:

Flexible Contribution Margin 147,000

Actual Contribution Margin 139,000

Variance 8000 unfavorable

Explanation:

Engine Works Company

Flexible Budget Performance Report

For the year using the Contribution Margin Format

Actual Static Flexible

(21,000 units) (20,000 units) (21,000 units)

Sales …$651,000 $600,00 630,000 Fav

V. Cost of goods sold: 512,000 $ 460,000 483,000 Unfav

Direct materials .$231,000 $200,000 210,000

Direct labor 168,000 160,000 168,000

Variable overhead 73,500 60,000 63,000

Variable Operating Expenses 39,500 40,000 42,000

Contribution Margin $139,000 140,000 147,000 Unfav

Fixed Expenses

Fixed Operating Expenses 12,000 12000 12000

Fixed overhead 77,500 80,000 84,000

Income from operations $ 49,500 $ 48,000 $51,000 Fav

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Variable Operating Expenses = 40,000 /20,000)*21,000= 42,000

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