Third parties suffering from the effects of factory pollution is an example of.....
2 answers:
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Answer: Option (a) is correct.
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.
Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.
The total cost applied to the job is $87,500 when the direct materials are $50,000, the cost of direct labor is $25,000 and the overhead cost is 50 % of direct labor.
<h3>What is meant by total cost?</h3>Total cost means the combined cost of materials, human labor, and the overheads incurred in the process of production.
Given values:
Cost of direct materials: $50,000
Cost of direct labor: $25,000
Cost of overheads: $12,500 ($25,000 X 50%)
Computation of total job cost:
Therefore, when the direct materials are $50,000, the direct labor is $25,000 and the overhead cost is $12,500, then the total cost of the job is $87,500.
Learn more about the overhead cost in the related link:
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