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Scrat [10]
3 years ago
13

Piechocki Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets

and performance reports. During May, the company budgeted for 7,700 units, but its actual level of activity was 7,650 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for May:Data used in budgeting:Fixed element per month Variable element per unitRevenue - $ 35.20Direct labor $ 0 $ 5.80Direct materials 0 12.80Manufacturing overhead 34,000 1.50Selling and administrative expenses 26,500 0.50Total expenses $ 60,500 $ 20.60Actual results for May:Revenue $ 270,800Direct labor $ 44,210Direct materials $ 99,995Manufacturing overhead $ 48,500Selling and administrative expenses $ 30,570The direct materials in the flexible budget for May would be closest to:
Business
1 answer:
Mama L [17]3 years ago
6 0

Answer:

$97,920

Explanation:

Budgeted direct material cost per unit $ 12.8

Actual level of activity 7,650

Direct material in the flexible budget $ 97,920

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Suppose that the national economy is experiencing a recession with an estimated recessionary gap of $10 billion. Congress is con
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The tax that needs to be reduced is $ 4.66 billion

<h2>Further Explanation </h2>

The amount (Deflationary / recessionary) gap = 10 billion - 3 billion = 7 billion

Keynesian Spending Multiplier from government spending

k = \frac{1}{1-MPC} = \frac{1}{1-0.6} = \frac{1}{0.4} = 2.5 or \frac{1}{MPS}

Tax Multiplier from tax

t = \frac{MPC}{1-MPC} = \frac{0.6}{1-0.6} = \frac{0.6}{0.4} = 1.5 or \frac{MPC}{MPS}

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In economics, deflation is a period in which prices generally fall and the value of money increases. Deflation is the opposite of inflation. If inflation occurs due to a large amount of money circulating in the community, deflation occurs due to a lack of money in circulation. One way to overcome deflation is to reduce interest rates.

In the macroeconomy, a recession is a condition when the gross domestic product (GDP) decreases or when real economic growth is negative for two quarters or more in one year. Recession can result in a simultaneous decline in all economic activities such as employment, investment, and corporate profits. Recession is often associated with falling prices (deflation), or, conversely, sharply rising prices (inflation) in a process known as stagflation. The economic recession that lasts long is called economic depression. The drastic decline in the level of the economy (usually due to severe depression, or due to hyperinflation) is called economic bankruptcy (economic collapse). Columnist Sidney J. Harris distinguishes the above terms in this way: "A recession is when a neighbor loses a job; depression is when you lose a job."

Learn More

Deflationary brainly.com/question/13135934

To Reduce Tax brainly.com/question/13135934

Details

Class: College

Subject: Business

Keywords: Deflationary, tax, recessionary

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