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3 years ago

Preferences are characterized generally by: A. income. B. consumption bundles. C. indifference curves. D. budget constraints.

Business

1 answer:

damaskus [11]3 years ago

4 0

Answer:

B. consumption bundles

Explanation:

Customer preference is defined as the likes and dislikes that a customer has that determines his choice in making purchases.

For exams a customer may want to buy shoes that are black in colour, but shoes that are yellow in colour are ignored.

Preferences of buyers are independent not prices and income level.

Rather it is dependent on consumption bundle. That is the set of goods that will give highest satisfaction to the buyer.

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Zina [86]

Answer:

Fixed overhead volume variance $ 2801.3

Explanation:

The difference between budgeted Fixed Overheads and Applied Fixed Overheads gives the Fixed overhead volume variance.

Given Data

(Planned )Denominator level of activity 4,600MHs

Fixed overhead cost$50,140

Actual hours 5,000MHs

Standard hours allowed for the actual output 4,743MHs

Actual total fixed manufacturing overhead cost$48,690

We need Budgeted Fixed overhead and we can find it by dividing the fixed costs by the denominator level of activity and multiplying it with actual hours.

We also need to find Applied Fixed overhead by dividing the fixed costs by the denominator level of activity and multiplying it with standard hours for actual output.

Calculations

Budgeted Fixed Overhead= ($50,140 /4,600MHs )* 5,000MHs

= $ 54,500

Applied Fixed overhead= ($50,140 /4,600MHs )* 4743MHs

= $ 51698.7

Formula

Fixed overhead volume variance=Budgeted Fixed overhead- Applied Fixed overhead

Fixed overhead volume variance= $ 54,500- $ 51698.7= $ 2801.3

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