Answer:
Specialization and the division of labor can increase productivity.
Explanation:
Specialization is about an <em>invidivual</em> focusing on very specific tasks that are best suited to them according to their skills and knowledge. This concept can be applied to <em>companies</em> and <em>countries</em>, as they specialize on producing a small amount of products they excel at, for having the raw material, knowledge and/or technology to do so.
The division of labor is about breaking down the production process of a good in <em>different parts</em> performed by <em>different people</em> instead of having all workers performing all the tasks. The idea is to let workers be <em>specialists</em> in a small amout of tasks so that they can be more efficient and overall productivity can be greatly increased. This concept was introduced by the <u>'father of economics'</u> Adam Smith in his book "The Wealth of Nations" released in 1776.
Specialization and division of labor are complementing concepts that bring a company an increase in productivity and helps achieve economies of scale.
In economics, the demand schedule is a table showing the quantity demanded of a good or service at different price levels. The demand schedule can be graphed as a continuous demand curve on a chart where the Y-axis represents price and the X-axis represents quantity.
Answer: 4. direct labour costs for the second quarter will be $192000
Explanation:
Finished Goods opening balance (quarter 2) = 4000
Projected sales = 40000
total units = 4000 + 40000 = 44000
direct labour produces 2 units per hour and an hour cost $8
direct labour cost = 44000/2 = 22000 hours = 22000 x 8 =176000
direct labour costs for quarter 2 = $ 176000. NOT $192000
Answer:
my answer is a.let them talk
Answer:
The journal entries are made as follows;
Explanation:
March 2. Account Receivable-Mcleena Co. Dr.$800,000
Sales Revenue Cr.$800,000
Cost of Goods Sold Dr.$540,000
Inventory Cr.$540,000
March 6. Sales Revenue Dr.$140,000
A/R-Mcleena Co. Cr.$140,000
Inventory Dr.$94,000
Cost of Goods Sold Cr.$94,000
