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djverab [1.8K]
3 years ago
13

The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of mai

ntenance costs.Month Total Total Machine Hours Maintenance Costs January $ 3,041 4,032February 3,456 4,608March 4,147 6,912April 5,184 9,101May 3,686 5,760June 5,322 9,216Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e.g. 12.25.)
Business
1 answer:
Deffense [45]3 years ago
3 0

Answer:

Variable cost per unit= $2.27 per machine hour

Explanation:

Giving the following information:

January 3,041 $4,032

February 3,456 $4,608

March 4,147 $6,912

April 5,184 $9,101

May 3,686 $5,760

June 5,322 $9,216

To calculate the unitary variable cost, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (9,216 - 4,032) / (5,322 - 3,041)

Variable cost per unit= $2.27 per machine hour

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According to the theory of the invisible hand, when there is competition, self-interested decisions advance the society interests.

<h3>What is the invisible hand theory?</h3>

Adam Smith, a Scottish philosopher and economist, popularized the metaphor of the "invisible hand" to describe the processes by which positive social and economic consequences may result from the collective self-interested acts of individuals, none of whom intend to produce such outcomes.

<h3>How is Adam Smith's invisible hand idea still applicable today?</h3>

An important economic idea that is still relevant today is the invisible hand theory. It may provide insight into the operation of free markets and consumer behavior. Although the idea is significant, it is frequently applied in ways that are inconsistent with Smith's original text or out of context.

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2 years ago
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Answer:

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Answer:

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economic growth

high employment

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Not goals of monetary policy

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high inflation

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price stability

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Monetary policy are policies taken by the central bank of a country to increase or reduce aggregate demand.

There are two types of monetary policy :

Expansionary monetary policy : these are polices taken in order to increase money supply. When money supply increases, aggregate demand increases. reducing interest rate and open market purchase are ways of carrying out expansionary monetary policy

Contractionary monetary policy : these are policies taken to reduce money supply. When money supply decreases, aggregate demand falls. Increasing interest rate and open market sales are ways of carrying out contractionary monetary policy

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  • price stability

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