Answer:
$0.30 per direct labor-hour
Explanation:
The computation of the variable cost per direct labor is shown below:
Variable cost per direct hour = (High maintenance cost incurred - low maintenance cost incurred) ÷ (High direct labor hours - low direct labor hours)
= ($4,000 - $1,900) ÷ (9,000 hours - 2,000 hours)
= $2,100 ÷ 7,000 hours
= $0.30 per direct labor-hour
Answer: Efficiency refers to how much a society can produce with its resources. Equality refers to how evenly the benefits from using resources are distributed among members of society.
Explanation: Efficiency can be explained as how best a society can harness and maximize the use of its resources in developing itself in areas of infrastructure, improved standard of living of members of the society, provision of basic amenities to its members of society.
Equality ensures there is a large spread to the members of the society benefiting from the resources gotten in the society. Equality ensures everyone takes part of the benefits of the resources present.
Answer:
Real GDP is not the direct indication of happiness, because happiness is dependent on a number of other factors, which when combined can result in a happy life.
Explanation:
Real GDP is defined as the measure of the value of the output of the economy, in the macroeconomics, which reflects the money value of all goods and services produced in a given year. Here the output of the economy is also adjusted for the changes in prices occurring in the year.
According the referred application 3 of the book, it is true that the people of United States have become less happy despite the real GDP rise over the last 30 years. This is because the growth of real GDP is not able to cope up simultaneously with the increased workplace stress, jeopardized married life, traffic congestion, health problems and deterioration of environment.
In conclusion, it can be stated that Money does play an important role in increasing the happiness. However the factor alone is not able to cope up with all the problems and this is true only when all the other factors such as a conducive working environment, happy married life, healthy life are also accompanying more money.
Answer:D. Cost- based pricing
Explanation:
This is when a fixed percentage is added to the cost of goods sold in determining the sales price. This guaranteed the cost are not only covered, but profits are also guaranteed on the transaction.
