Unattainable level of production refers to a level of production that is not possible to reach due to various factors such as limited resources, lack of technology, and/or limited knowledge.
<u>Unattainable level of production</u> – This occurs when it is impossible to physically produce a quantity of output that is greater than the maximum that can be produced with the available inputs.
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<u>Efficient use of inputs in production</u> – This occurs when the inputs used in production are used in the most efficient manner possible so that the most output can be produced with the least amount of inputs.
<u>Attainable but Inefficient use of inputs in production</u> – This occurs when a level of output can be produced using the available inputs, but the inputs are not used in the most efficient manner and more output could be produced with fewer inputs.
What do you mean by Production?
Production is the process of creating goods and services to be sold or used. It is a key component of a successful business, as it helps to create products that customers want and need. Production involves the use of resources such as labor, materials, equipment, and technology to create products and services. Businesses may use a variety of production methods to create their products, including automation, manual labor, and outsourcing.
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Answer:
a. $3,700
Explanation:
Unit completed = 10000 - 2000 = 8000
Equivalent unit of material = 10000
Equivalent unit of conversion = 8000 + (2000*40%)
Equivalent unit of conversion = 8800
Cost per equivalent unit of material = $16000/10000
Cost per equivalent unit of material = $1.6
Cost per equivalent unit of conversion = $5500/8800
Cost per equivalent unit of conversion = $0.625
Cost of ending WIP = Equivalent unit of material*Unit cost+Equivalent unit of conversion*Unit cost
Cost of ending WIP = 2000*$1.6 + (2000*40%)*$0.625
Cost of ending WIP = $3200 + $500
Cost of ending WIP = $3,700
Answer:
$10
Explanation:
Data provided in the question
Number of units produced = 20 units
Average fixed cost = $25
Average total cost = $35
Marginal cost = $15
As we know that
Average total cost = Average fixed cost + average variable cost
$35 = $25 + average variable cost
So, the average variable cost is
= $35 - $25
= $10
The average total cost is the sum of average fixed cost and the average variable cost
Answer:
A) the underapplied overhead is $1,000
Explanation:
The computation of the under applied or over applied is as follows;
Actual Overhead $38000
Overhead e Applied (18,500 × $2) $37,000
Underapplied $1,000
Since the actual overhead is more than the overhead applied so it would be underapplied overhead
hence, the underapplied overhead is $1,000
The same is to be considered