Answer:
C) Z is a substitute for input X in the production of Y.
Explanation:
Goods are substitutes if they can be used in place of each another. For example, pen and pencil can be considered as substitute.
If the price of a good decreases, the demand for that good increases and the demand for the subsituite falls. X and Z are substitutes
Complements are goods that are consumed together e.g. bread and butter.
Inputs are goods used in the production of output. If the price of input increases, the price of the output increases. Therefore, X is an input in the production of Y.
Since X and Z are substitutes, and X is an input for Y.
I hope my answer helps you
Answer:
C) has a horizontal long-run supply curve.
Answer:
For indoor = $88,756
For outdoor = $72,666
Explanation:
The computation of the amount of overhead assigned to each product line is given below:-
<u>Traditional Costing
</u>
<u> Machine Hours Overhead Assigned
</u>
Indoor Model 27,000 88,756
($124,916 ÷ 38,000) × 27,000
Outdoor Model 11,000 72,666
($124,916 ÷ 38,000) × 11,000
Total 38,000 $161,442
Answer:
D) Decentralized
Explanation:
Greenwave is not limiting the decision making authority to its top executive and in fact, is delegating responsibilities and decision making to its regional managers. This is a form of decentralized organization, where by definition =, decision making is not limited to the central level.
A bureaucratic organization on the other hand is highly formal and focuses intensely on the hierarchy. Top down management again is a centralized organization focusing on the ideals of the upper management. Free form is less centralized and focuses on team based decision making.
Hope that helps.
Answer:
price variance 3,940 U
quantity variance 2,800 F
Explanation:
DIRECT MATERIALS VARIANCES
std cost $7.00
actual cost $7.10
quantity 39,400
difference $(0.10)
price variance $(3,940.00)
The difference between std cost and actual cost is negative, we purchased at a higher cost. the variance is unfavorable.
std quantity 39,000.00 (7,800 manufactured units x 5 lbs per unit)
actual quantity 39,400.00
std cost $ 7.00
difference -400.00
quantity variance $ (2,800.00)
We used more lbs than our standard for the output. This means we are not efficient in the use of materials. this variance is unfavorable as well