Answer:
b. The leisure time enjoyed by Americans
d. The value of babysitting services, when the babysitter is paid in cash and the transaction isn't reported to the government
e. The loss of enjoyment people incur when scenic land is converted to commercial use
Explanation:
Many people have criticized GDP as a measure of well being, they believe GDP is not able to capture all the activities that should be represented in the measurement of well being in an economy.
They argue that GDP does not take into consideration leisure time and no adjustment is made for it in its computation.
Another argument is some services paid in cash not reported to the government is missing from the GDP computation, such as the value of babysitting services paid in cash.
The GDP doesn't account for loss of enjoyment people incur when scenic land is converted to commercial use.
Answer: $2,200 Unfavorable
Explanation:
Volume variance is the difference between actual and budgeted output so can be calculated by;
= (Budgeted output - Actual output) * overhead rate
= (4,900 - 3,800) * 2
= $2,200 Unfavorable
<em>Unfavorable because they produced less than the budget indicated that they would. </em>
An asset is credited
an asset is debited
Relevant, you don't want information that has nothing to do w to your topic
Answer: variable budget
Explanation: In simple words, variable budget refers to the budget statement which shows how much different costs would vary if the level of activity as per standards set increases or decreases.
These are also called flexible budget and are made on the basis of current level of output. These budgets provides flexibility to the management with respect to both best case and worst case scenarios.
From the above we can conclude that the correct answer is variable budget.
