A static budget is<u> based on a range of activities</u>.
<h3>
What is static budget?</h3>
- An example of a budget that includes predicted values for inputs and outputs that are thought of before the period in question begins is a static budget.
- Even with changes in sales and production quantities, a static budget, which is a projection of revenues and expenses for a given period, stays the same.
- The figures from static budgets can, however, be very different from the real results as compared to those that are discovered after the fact.
- Accountants, finance experts, and management teams of businesses utilize static budgets to assess the financial success of a company over time.
- The static budget is meant to be constant throughout the time period, independent of changes that might have an impact on results.
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Answer:
Purchases= $408,000
Explanation:
Giving the following information:
Beginning Ending Raw materials inventory$547,000 $610,000
The raw materials used in manufacturing during the year totaled $1,018,000
<u>To calculate the direct material purchased, we need to use the following formula:</u>
Purchases= direct material used in production - ending inventory
Purchases= 1,018,000 - 610,000
Purchases= $408,000
The economy's self-correcting property is the fact that output gaps won't last indefinitely, but will be closed by rising or falling prices.
The output gap is the difference, expressed as a percentage of gross domestic product, between an economy's actual output and its highest potential output. An output gap can be either favorable or negative for a nation.
A negative output gap indicates that the economy's actual output is below its maximum capacity, whereas a positive output gap indicates that the economy is beating expectations because its actual output is higher than its acknowledged maximum output. The output gap helps paint a picture of how the economy is doing because the gross domestic product is used in its computation.
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Answer:
Sales revenue= $150,000
Explanation:
Giving the following information:
Barbara's Baskets Company expects to manufacture and sell 30,000 baskets in 2019 for $5 each.
<u>The sales revenue is calculated as follow:</u>
Sales revenue= number of units sold*selling price per unit
Sales revenue= 30,000*5
Sales revenue= $150,000
Answer:
D) idle time is acceptable if there is no work to do
Explanation:
A bottleneck happens when a production process is saturated with inflows from work in progress units from previous processes. The process cannot handle them all and process them so queues start to form. Bottlenecks slow down total production, reducing efficiency and productivity.
Idle time is defined as time spent waiting, i.e. some production process will be halted until enough WIP units arrive.
