Answer: Meeting customer requirements at a profit
Answer: d
Explanation: Gross domestic product is the best way to measure economic growth. It takes into account the country's entire economic output.
Per capita gross domestic product (GDP) is a metric that breaks down a country’s GDP per person. It is calculated by dividing GDP over a country’s population. GDP per capita is a universal measure globally for gauging the prosperity of nations. Worldwide it is used by economists alongside GDP to analyze the prosperity of a country and its economic growth.There are three main factors that drive economic growth: Accumulation of capital stock. Increases in labor inputs, such as workers or hours worked. Technological advancement.
Answer:
$52,000
Explanation:
Net income under variable costing considers only variable cost, while net income under absorption costing considers both variable and fixed cost. Therefore, we have:
Total beginning fixed overhead = 400 × $10 = $4,000
Total ending fixed overhead = 500 × $12 =$6,000
Fixed overhead for the period = $6,000 - $4,000 = $2,000
Net income under absorption costing = $50,000 + $2,000 = $52,000
