Manuel is retired and receives a fixed payment from his pension each there is inflation when the buying power of his pension will fall
This is further explained below.
<h3>What is
inflation?</h3>
Generally, Inflation refers to the rate at which prices continue to grow during a certain period of time, and the term may also refer to inflation itself. In most cases, inflation is assessed on a broad scale, such as the overall increase in prices or the growth in the cost of living in a particular nation.
To put inflation in its most basic form, it may be thought of as the general upward trend in the prices of goods and services over time. What this implies is that a dollar spent now won't purchase as much in the future. In other words, it will lower your ability to purchase things in the future.
In conclusion, Manuel is now retired and receives a certain amount from his pension on an annual basis. In the event that there is inflation, Manuel will be able to buy a lesser total amount with his pension money.
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<u>Solution and Explanation:</u>
The following table has been made in order to find out the total variance cost that has been incurred and the total cost
<u>Particulars</u> <u>Cost formula based</u> <u>Flexible budget </u> <u>Actual</u> <u>Variance</u>
<u> on 50000 units</u> <u>on the basis of </u>
<u>60000 unit</u>
Direct materials $2 120000 $110000 10000 F
The direct labour $1 60000 60000 0
Variable overhead $1.5 90000 100000 10000 U
Fixed overhead $100000 100000 97000 3000 F
The total cost 370000 367000 3000 F
Where F stands for – favourable and U stands for unfavourable
The total variance cost after the above calculations is = $3000 F
Answer:
Outbreak
Explanation:
Outbreak has been defined as the sudden increase in occurence of a particular disease in a specific period of time and at a specific place. When people have something in common to explain why they all got thesame illness, it is called an outbreak. Any disease becomes an outbreak when it occurs in greater numbers than expected for a given region or community during a specified period of time or season.