The answer to the blank space is data.
The contents of the spreadsheet are the annual record of airfares to different cities from Chicago. This is what we call data – which are facts or statistics collected together for reference or analysis. Since Silway Travels plans to use the annual record information to contrast airfares during peak and off-season, it is clear that the data in this case would be used for analysis.
Answer: $2,000 favorable
Explanation:
Total variable overhead variance = Budgeted variable overhead - Actual total variable overhead
Budgeted variable overhead = Budgeted machine hours allowed for actual output * Budgeted variable overhead rate per machine hour
= 30,000 * 2.50
= $75,000
Total variable overhead variance = 75,000 - 73,000
= $2,000 favorable
Favorable because the actual amount was less than the budgeted one.
A, representing the US in a foreign country. An ambassador is a negotiator representing a cause, in this case the US.
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Answer:
(a.) The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore. – <em><u>This will fall under the category of Government Spending(G)</u></em>
Reason: In this case the government is utilizing money in order to construct highway that will benefit public.
(b.) Musashi buys a sweater made in Guatemala –<em><u>This will fall under the category of imports(M)</u></em>
Reason: The product/commodity is being produced outside domestic boundaries, hence it is calculated under imports
(c.) Rina gets a new refrigerator made in the United States. - <em><u>This will fall under the category of consumption(C)</u></em>
Reason: Commodities produced within the domestic boundaries and further consumed or bought within domestic boundaries will be calculated under consumption
(d.) Rina's father in Sweden orders a bottle of Vermont maple syrup from the producer's website. - <em><u>This will fall under the category of exports(X)</u></em>
Reason: Here the maple syrup is being delivered to a third party living abroad so it will be calculated under export .
(e.) Musashi's employer upgrades all of its computer systems using U.S.-made parts. - <em><u>This will fall under the category of investment(I)</u></em>
Reason: Money spent to upgrade the system in order to increase productivity and this indeed will have an effect for a long duration. Therefore it'll be seen as an investment.
Answer:
$150
Explanation:
The formula to compute the GDP is as follows
GDP = Consumption + Investment + Government purchase + Net exports
where,
Consumption = Consumption of expenditure = $50
Investment = Business fixed investment + change in inventory + construction of new homes & apartments
= $30 + $10 + $30
= $70
The change in inventory is
= Ending inventory - beginning inventory
= $20 - $10
= $10
Government purchase = Government purchases of goods and services = $20
Net exports
= Exports - imports
= $50 - $40
= $10
So the value of GDP is
= $50 + $70 + $20 + $10
= $150
