No, a deductive strategy involves giving a general principle or rule and showing how that will apply to the current situation.
GDP is the sum of all final goods and services produced by an economy in a given period. In calculating GDP only the final goods and services that are traded are accounted for. Thus, household services that do not generate income are not accounted for in GDP, only productive activities. Therefore, in the long run the tendency is that the GDP analyzed by this issue will decrease, because when the unemployment rate increases, fewer workers will be employed in the productive sector. These people may substitute work for leisure or household chores, but this will not count in GDP.
Answer: D. Heidi's share of profits is split among the remaining 3 partners.
Explanation: A general partnership is a form of business arrangement by which two or more individuals agree create a business, sharing in all assets, profits, and financial and legal liabilities. However, unless there is a signed written agreement between partners when starting the business, with a clause setting out what would happen on the occurrence of death, the general partnership dissolves after the death of a partner. If the partnership terminates, then the assets and outstanding liabilities are all sold and the proceeds are divided equally among the partners. Therefore, Heidi's share of profits is split among the remaining 3 partners.
Answer:
D. The outlet substitution bias injects an upward bias into the CPI
Explanation:
Answer: See explanation
Explanation:
a. Calculate the predetermined overhead rate Overhead Rate per hour
Predetermined Overhead rate will be the estimated total manufacturing overhead divided by the estimated total direct labor hours. This will be:
= $ 921,600/51,200
= $ 18
(b) Calculate how much manufacturing overhead will be applied to production
Manufacturing overhead that'll be applied to production will be the predetermined overhead rate multiplied by the actual total direct labor hours. This will be:
= $ 18 × 48,900 direct labor hours
= $ 880,200
(c) Is overhead over- or underapplied? By how much?
The Actual Overhead Incurred = $902,900 while the manufacturing overhead applied = $880,200. This shows that overhead is underapplied due to the fact that manufacturing overhead applied is less than the actual overhead that is incurred.
Therefore, the amount of overhead that was underapplied will be:
= $ 902,900 - $ 880,200
= $ 22,700
(d) What account should be adjusted for over-or underapplied overhead? Should the balance be increased or decreased?
Based on the scenario in the question and the answers calculated, the cost of goods sold should be increased.
