Answer:
a. If all 307 registered fishermen were to be employed by hotels (in addition to the 3,409 people already working in hotels), how many hotel stays could Bermuda produce?
since the opportunity cost is constant, then if all 307 fishermen decided to become hotel workers, then the total number of hotel stays would be (286 tons of fish x 2,000 stays per ton) + 538,000 stays = 1,110,000 stays
b. If all 3,409 hotel employees were to become fishermen (in addition to the 307 fishermen already working in the fishing industry), how many metric tons of fish could Bermuda produce?
total number of fish caught = (538,000 stays / 2,000 tons per stay) + 286 tons of fish = 555 tons of fish caught
c. attached graph
Answer:
$2,777
Explanation:
For computing the annual ordering cost, first we have to determine the economic order quantity which is shown below:
= 46 units
The carrying cost is
= $675 × 18%
= $121.50
Now the annual ordering cost is
= Annual demand ÷ Economic order quantity × ordering cost per order
= 1,750 ÷ 46 × $73
= $2,777
Hence, the annual ordering cost is $2,777
Answer: True
Explanation:
The above statement is true. It should be noted that companies or organizations that contract manufacturing abroad are usually being subject to watchdog groups and also, they're expected to be socially responsible when they partner with the low cost labor manufacturers that are based abroad. The companies also make ethical decisions.
Therefore, the statement is true.
Answer: B. Actual Quantity x Standard Price
Explanation:
The split cost" for analyzing the direct materials flexible budget variance is represented by the actual quantity multiplied by the standard price.
It should be noted that the flexible budget variance is denoted as the difference that occurs between the results which are gotten through the model of the flexible budget and the actual results.