Answer:
the difference between the price a seller receives for a good and the minimum price for which he would have sold the good.
Explanation:
Producer surplus is the difference between the price a seller sells her goods and the least price she would be willing to sell her goods.
Consumer surplus is the difference between the price a buyer pays for a good and the highest price he would have paid for the good.
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"Our workers are all under labor contracts; therefore, our labor rate variance is bound to be zero." : Several factors other than the contractual rate paid to workers can cause a labor rate variance. For example, skilled workers with high hourly rates of pay can be given duties that require little skill and that call for low hourly rates of pay, resulting in an unfavorable rate variance. Or unskilled or untrained workers can be assigned to tasks that should be filled by more skilled workers with higher rates of pay, resulting in a favorable rate variance. Unfavorable rate variances can also arise from overtime work at premium rates. What effect, if any, would be expected poor-quality materials to have on direct labor variances? 10-10. If poor quality materials create produced.
What are labor and example?
The definition of labor is physical or mental work or effort. An example of labor is studying hard for a test. An example of labor is a woman giving birth to a baby. Labor includes both physical and mental work undertaken for some monetary reward. In this way, workers working in factories, the services of doctors, advocates, ministers, officers, and teachers are all included in labor.
Labor represents the human factor in producing the goods and services of an economy. finding enough people with the right skills to meet increasing demand. This often results in rising wages in some industries.
learn more about labor here
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Answer:
$40,960
Explanation:
The computation of the operating cash flow is shown below;
As we know that
Annual Operating Cash Flow is
= EBIT × (1 - Tax Rate) + Depreciation Expenses
Here,
Earnings Before Interest & Tax [EBIT] = Revenues - Variable Cost - Fixed Costs - Depreciation Expenses
= $247,700 - $137,600 - $56,500 - $22,000
= $31,600
Now
Annual Operating Cash Flow = EBIT × (1 - Tax Rate) + Depreciation Expenses
= $31,600 × (1 - 0.40) + $22,000
= [$31,600 × 0.60] + $22,000
= $18,960 + 22,000
= $40,960
