The condition that is being met is PRODUCTIVE EFFICIENCY. Productive efficiency refers to a situation in which production is carried out without waste. In this situation, when the average cost of production is reduce to the barest minimum, the economy will be operating on the production possibility frontier.
The new equilibrium price is higher and the new equilibrium quantity is higher
Answer:
option (C) is correct.
Explanation:
Given that,
Beginning work in process inventory: $102,000
Direct materials used: 156,000
Actual overhead: 132,000
Overhead applied: 138,000
Cost of goods manufactured: 675,000
Total manufacturing costs: 642,000
Company's direct labor cost for the year:
= Total manufacturing costs - Overhead cost - Direct materials cost
= Total manufacturing costs - Overhead applied - Direct materials used
= $642,000 - $138,000 - $156,000
= $348,000
Answer:
$254,100
Explanation:
The computation of the cost of direct materials used in production is shown below:
= Direct materials purchased + Beginning raw materials inventory - Ending raw materials inventory - Indirect materials requisitioned and used
= $254,000 + $12,000 - $7,900 - $4,000
= $254,100
Hence, all the other information is not considered. Therefore, ignored it
Answer:
A) Persistent.
C) Hard-working.
D) Creative.
Explanation:
In the given situation, it is mentioned that an individual wants to start a business that deals in hats and mittens so the needs of the children could be fulfilled. But for that, we need to find out a cofounder that should be have following traits and characteristics
a. Persistent: The person should be trying his best o achieve it rather than escape from it
b. he should be hardworking so that every child's need could be fulfillled
c. He should be creative or we can say who bring innovative ideas to the firm so that the people get attracted to the company products so that the sale of the firm could rise up
