Answer:
$1,490,000
Explanation:
Given that,
Direct Material used = $795,000
Wages to Line workers = $270,000
Indirect Materials used = $425,000
Total product cost for the year:
Direct Material used + Wages to Line workers + Indirect Materials used
= $795,000 + $270,000 + $425,000
= $1,490,000
Therefore, the total product costs for the year is $1,490,000.
Neoclassical economics places a larger focus on providing extra options and <u>improving living standards, </u><u>which are ultimately decided by long-term progress.</u>
As a result, it focuses on long-term growth rather than fighting recessions.
In actuality, neoclassical economics holds that a product's price is mostly influenced by its manufacturing costs. According to neoclassical economics, the primary factor for client decision-making therefore becomes price.
As a result, letting the neoclassical economists concentrate on prices is not the best way to combat the recession. Long-term economic performance is always emphasized by neoclassical economists.
Note that the neoclassical approach to macroeconomics emphasizes the idea that, over time, the economy tends to recover to its potential GDP and natural unemployment rate.
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If new york city imposed a 50 cent tax on soft-drink beverages that contain sugar or high-fructose corn syrup, it would decrease the demand of the soft-drink beverages.
Given that new york city imposed a 50 cent tax on soft-drink beverages that contain sugar or high-fructose corn syrup.
We are required to find the effect of 50% tax on soft-drink beverages that contain sugar or high-fructose corn syrup.
When 50% tax is imposed on soft-drink beverages then it will increase the price of soft drink beverages, which will decrease the demand of soft drink beverages because now the drink become costly for the customers to buy.
Suppose the initial price of 1 soft drink is $100.
Now tax is applied so tax would be 100*50%=50
Price after tax=100+50
=$150
Now consumers have to pay $150 for 1 drink in place of $100.
Hence if new york city imposed a 50 percent tax on soft-drink beverages that contain sugar or high-fructose corn syrup, it would decrease the demand of the soft-drink beverages.
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Answer:
under applied by $1,000.
Explanation:
The formula is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
= $101,998 ÷ 67,992 hours
= $1.50
Now we have to find the applied overhead which equal to
= Actual direct labor-hours × predetermined overhead rate
= 70,000 hours × $1.50
= $105,000
So, the ending overhead equals to
= Actual manufacturing overhead - actual overhead
= $106,000 - $105,000
= $1,000 under-applied
