Answer:
Follows are the solution to this question.
Explanation:
In the given question Madeline has to pay $41,000 to be spent on education, with scholarship and economic assistance. She would be able to pay sufficient resources towards her total cost of education at $41,000. In this same scenario, she could get enough money to pay for her education so well as Madeline's college bill would not be more than $41.000. If she does so, she won't have sufficient funds to cover her education bill.
Holding all else equal, will increasing the efficiency units of labor lead to sustained growth? Why? Yes, although it will lead to sustained growth only if individuals learn the correct skills as determined by the type of physical capital available.
Answer:
Cost per equivalent unit: $60
Explanation:
Cost per equivalent unit = (Cost of Beginning Work in Progress Inventory + Total production cost during the period) / Equivalent Units of Production (EUP)
Total Production Cost = $90,000
Equivalent Units of production (EUP) = 1,300 + 400 x 50% = 1,500 units
Cost per equivalent unit: $90,000 / 1,500 units = $60
Answer:
The standard hours allowed for May production would be 2,250 hours
Explanation:
In order to calculate the standard hours allowed for May production we would have to calculate the following formula:
Standard Hours allowed = actual Units / Budgeted units * Budgeted Labour Hours
actual Units=900
Budgeted units=1,000
Budgeted Labour Hours=2,5000 hours
Therefore, Standard Hours allowed =900/1,000 * 2,500 = 2,250 Hours
Standard Hours allowed = 2,250 Hours
The standard hours allowed for May production would be 2,250 hours