Another term for the word "vertical hierarchy" is "the chain of command." A vertical hierarchy is an organisational structure that looks like a pyramid. Located at the topmost portion of this "pyramid" are the executives of a company, and below it are the supervisors in different departments and divisions.
Answer:
(i)New firms will enter the market.
(iii)In the long run, all firms will be producing at their efficient scale
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market price is set by the forces of demand and supply.
If firms are earning positive profits, in the long run new firms would enter into the industry and this woold drive positive profits to zero. As a result , firms would be operating at the efficient scale.
I hope my answer helps you
Answer:
First blank: Consumers
Second blank: GDP
Third blank: CPI
Explanation:
The Consumer Price Index is used to measure the basic basket of services and goods that a normal person often buys in order to have a decent quality of life, the GDP includes all goods and services produced, for example all the office equipment, or farm equipment that was produced by a countries economy, the average customer doesn´t need farm equipment nor office equipment that is why it is not taken into account in the Costumer Price Index.
Explanation:
Compare and Contrast ->
Roles of the federal government -> Promoter & Regulator of industrial growth
U.S.Government => Promoter & Regulator of industrial growth
Pacific Railway Act (1862)-They have been granted 20 square miles of land per 1 mile of the track laid down. It strongly encouraged the construction of transcontinental railway lines, contributing to five different transcontinental roads: Union Pacific RR, Central Pacific RR, South Pacific RR, North Pacific RR and the Great North. The Grants Act of Morrill Land (1862)-gave state free land.
U.S.Government => Roles of the federal government
Sherman Antitrust Act (1890)The purpose was to promote economic competition through the regulation of shares, cartels and monopolies. It was very uncompromisingly applied Interstate Trade Act (1887). It also prohibits discrimination against shippers and pays more on the same train for shorter routes than for longer routes.
Thesis:
In the 19th Century and in themid-19th Century, the government of the United States was much more a proponent of industrialisation then an industrialisation regulator than a regulator.
In the year 1862, for instance, congress took place on the Pacific Railway Act, which gave the railway lines 20 acres per mile. This eventually culminated in five transcontinental trains: Union Pacific Railways, Central Pacific Railways, North American Railways, South Pacific Railways, and the Great North.In end, this resulted in the creation of booming towns in the west, encouraging manufacturers to relocate to their inhabitants and enabling businesses to sell their products to remote locations that were once hard to reach. Congress also enacted Morrill's 1861 Tariff Act which substituted for a higher tariff for the limited import tariff inserted in 1816. This shielded businesses from foreign competitors and increased their profits so that they could increase their power. The US government in general has been a more aggressive manufacturing supporter.
Answer:
a. $2.4
b. $10,000 under-applied
c. Cost of goods sold A/c Dr $10,000
To Manufacturing overhead $10,000
Explanation:
a. The computation of the manufacturing overhead rate is shown below:
Manufacturing overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $300,000 ÷ 125,000 hours
= $2.4
(B) Now we have to find the actual overhead which equals to
= Actual direct labor-hours × predetermined overhead rate
= 130,000 hours × $2.4
= $312,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $322,000 - $312,000
= $10,000 under-applied
c. The adjusting entry is shown below:
Cost of goods sold A/c Dr $10,000
To Manufacturing overhead $10,000
(Being the under-applied overhead is adjusted)
