Answer:
$500 (Favorable)
Explanation:
Given that,
Production cost = $7 per unit
Fixed costs = $23,000 per month
Units produced = 5,500
Actual total costs = $61,000
Standard cost = Fixed cost + Variable cost
= $23,000 + ($7 × 5,500)
= $23,000 + $38,500
= $61,500
Variance = Standard cost - Actual total costs
= $61,500 - $61,000
= $500 (Favorable)
The large investment the company made in the failed project most likely was made by a manager who did not fully understand "Sunk Costs".
<h3>What is Sunk Cost?</h3>
An price or investment that has already been made and cannot be recovered is referred to as a sunk cost.
Types of sunk cost are -
- Investment in advertising. This money is lost if you advertise a new product; it cannot be recovered.
- Investigation into a new product.
- Labour expenses.
- New software system installation and operational procedures.
- Loss of relationships in business and reputation.
Therefore, Sunk expenses are unrelated to any particular occurrence and shouldn't be taken into account while choosing an investment or project.
To know more about ways to harvest an investment in a business, here
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Answer:
Total manufacturing cost of job 302 : $
Direct material cost 15,100
Direct labour cost(190hrs x $38) 7,220
Manufacturing overhead(190hrs x $19) 3,610
Total manufacturing cost 25,930
Overhead absorption rate = Budgeted overhead/Budgeted activity level
= $784,700/41,300 hrs
= $19
Explanation:
In this scenario, we need to add the direct material cost, direct labour cost and manufacturing overhead in order to obtain the total manufacturing cost. Overhead absorption rate is calculated from the company's budget provided in the question. Overhead is absorbed on direct labour hours. The direct labour hourly rate of $38 was provided in the question
Answer:
First Impression
Explanation:
First Impression applicable if the United States Supreme Court had not issued the prior opinion and California courts also not decided that those clauses contravene a strong public policy.
As by definition of First Impression that a case in which a question of interpretation of law is presented which has never arisen before in any reported case. Sometimes, it is only of first impression in the particular state or jurisdiction, so decisions from other states or the federal courts may be examined as a guideline.
Answer:
B. The States
Explanation:
According to the Constitution of the United States, the national government as well as the state government have powers. There is a need however, to describe the difference between express and implied powers.
Express powers are specifically mentioned in the constitution while implied powers are powers the body of government will have as a result of its interference and connection to the express power.
Therefore, since the national government supersedes the state governments, any power that is connected to the express power constitutionally given to the federal government is referred to its implied power and as such the state is expected to also respect such.
<u>However, any power that is not express or implied to be the power of the national government according to the Tenth Amendment is expressly reserved to the States</u>
