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andrew-mc [135]
3 years ago
6

Scenario: Technological Progress and Productivity Growth in Techland In Techland, from 1980 to 2010, holding technology and huma

n capital fixed, increasing physical capital per worker from $25,000 to $100,000 would have led to a doubling of real GDP per worker, from $40,000 to $80,000. However, not only did physical capital per worker increase from $25,000 to $100,000, but technological progress shifted the productivity curve upward so that real GDP per worker actually increased from $40,000 to $320,000. Look at the scenario Technological Progress and Productivity Growth in Techland. What share of the growth rate of real GDP per capita was attributable to higher total factor productivity?
Business
1 answer:
andre [41]3 years ago
8 0

Answer:

The growth of the real GDP per capita was 7.18%

Explanation:

It is important to establish that:

Future Value = Present Value × ((1 + r)^t), given that <em>r</em> is the <em>interest rate</em> and <em>t</em> is the <em>time period</em>  

Real GDP per worker increased from $40,000 to $320,000 in 30 years    

Therefore, we have;

320000 = 40000*(1+r)^30    

(1 + r)^30 = 8    

1 + r = 8^1/30    

1 + r = 1.0718    

r = 0.0718 = 7.18%

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Burruss Company developed a static budget at the beginning of the company's accounting period based on an expected volume of 8,0
katrin2010 [14]

Answer:

The flexible budget would show fixed costs of $16,000

Explanation:

Meaning of Fixed cost: The fixed cost is that cost which is not have any impact on production level. It means that if the production level is increase or decrease, the fixed cost remain constant.

In the question the following information is given ,

Expected volume - 8,000 units

Per unit Revenue -  $ 4.00

Variable costs [per unit - 1.50

Contribution margin per unit -  $ 2.50

Fixed costs per unit - 2.00

Net income per unit -  $ 0.50

Actual production - 10,000 units

For computing the fixed cost under flexible budget for actual production which produces 10,000 units. The fixed cost remain same.

So, For 8000 units, the fixed cost = Units × Fixed cost per unit

                                                        =  8000 units × 2.00

                                                        =$16,000

Hence, For 10,000 units, the fixed cost would be $16,000 as fixed cost remain same.

Thus, the flexible budget would show fixed costs of $16,000

4 0
3 years ago
Answer the following questions using the information below: Cannady produces six products. Under their traditional cost system u
vampirchik [111]

Answer:

Given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.

Explanation:

A cost driver can be described as the unit of an activity or any factor that makes the cost of an activity to fluctuate. An estimated cost driver is adequate and of the expected quality when quality or quantity is satisfactory or acceptable.

Therefore, given this change in the cost, the adequacy and quality of the estimated cost drivers and costs used by the system will determine the costing results for SR6 under the new system.

8 0
3 years ago
During 2018, TRC Corporation has the following inventory transactions.
Soloha48 [4]

Answer:

Results are below.

Explanation:

Giving the following information:

Jan. 1 Beginning inventory 48 $40 $1,920

Apr. 7 Purchase 128 42 5,376

Jul. 16 Purchase 198 45 8,910

Oct. 6 Purchase 108 46 4,968

For the entire year, the company sells 427 units of inventory for $58 each.

Ending inventory units= 482 - 427= 55

<u>1)</u>

<u>Under the FIFO (first-in, first-out) method, the ending inventory is calculated using the cost of the lasts units remaining in inventory.</u>

Ending inventory= 55*46= $2,530

COGS= 48*40 + 128*42 + 198*45 + 53*46= $18,644

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,644= $6,122

<u>2)</u>

<u>Under the LIFO (last-in, first-out) method, the ending inventory is calculated using the cost of the firsts units remaining in inventory.</u>

<u></u>

Ending inventory= 48*40 + 7*42= $2,214

COGS= 108*46 + 198*45 + 121*42= $18,960

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,960= $5,806

<u>3)</u>

<u>First, we need to calculate the weighted-average cost:</u>

weighted-average cost= (40 + 42 + 45 + 46) / 4= $43.25

Ending inventory= 55*43.25= $2,378.75

COGS= 427*43.25= $18,467.75

Revenue= 427*58= $24,766

Gross profit= 24,766 - 18,467.75= $6,298.25

6 0
3 years ago
Juniper Company uses a perpetual inventory system. The company purchased $9,750 of merchandise on August 7 with terms 1/10, n/30
kozerog [31]

Answer:

Amount of cash paid on Aug 16 = <u>$8,167.50</u>

Explanation:

As for the information provided the terms of purchase are,

1% discount if payment made within 10 days,

and a total credit period of 30 days without any discount beyond 10 days.

Here, inventory purchased on August 7 = $9,750

Less; Return on 11 August = $1,500

Net Purchases = $8,250

Since payment is made on 16 August that is within 10 days from purchase discount will be received

= $8,250 \times 1% = $82.50

Amount of cash paid on Aug 16 = $8,250 - $82.50 = $8,167.50

8 0
3 years ago
Jim's Widgets creates mechanical tools that are used in factories. Use the table and the drop-down menus to answer these questio
Vladimir79 [104]

Answer:

The profit when the company makes five widgets is $30

To maximize profit, the company should produce 6 widgets per day

The company's profit would decrease by $17 if the company made seven widgets

Explanation:

i took the quiz.

4 0
3 years ago
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