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diamong [38]
3 years ago
9

The countries of Orion and Scorpius are small mountainous nations. Both produce granite and blueberries. Each nation has a labor

force of 800. The table below gives production per month for each worker in each country. Assume productivity is constant and identical for each worker in each country.
Tons of Granite Bushels of Blueberies
Orion workers 6 9
Scorpius workers 3 7

(1) ______ has a comparative advantage in the production of granite
(2) ______ has a comparative advantage in the production of Blueberies.
Business
1 answer:
Ghella [55]3 years ago
7 0

Answer:

Orion has a comparative advantage in the production of granite .

Scorpius has a comparative advantage in the production of Blueberries.

Explanation:

We have the relative cost for Orion of producing one Ton of Granite is: 9/6 = 1.5 Bushels of Blueberries, while the relative cost for Scorpius of producing one ton of Granite is : 7/3 = 2.33 Bushels of Blueberries. Thus, Orion has comparative advantage of producing Granite.

We have the relative cost for Orion of producing one Bushels of Blueberries is: 6/9 = 0.67 ton of granite, while the relative cost for Scorpius of producing one Bushels of Blueberries is : 3/7 = 0.43 ton of granite. Thus, Scorpius has comparative advantage of producing Blueberries.

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6 0
3 years ago
Gundy Company expects to produce 1,213,200 units of Product XX in 2020. Monthly production is expected to range from 80,000 to 1
fiasKO [112]

Answer:

Gundy Company

Flexible Budget Report for March 2020:

                                      Actual Budget   Flexible Budget   Variance

Direct materials                 $515,000        $485,000           $30,000  U

Direct labor                         670,000           679,000               9,000  F

Variable overhead           1,073,000         1,067,000               6,000  U

Actual fixed costs              679,000           679,000                       0  None

Total costs incurred    $2,937,000       $2,910,000           $27,000  U

Explanation:

a) Data and Calculations:

Expected production of Product XX in 2020 = 1,213,200 units

Monthly production range = 80,000 to 114,000 units

Budgeted variable manufacturing costs per unit are:

Direct materials      $5

Direct labor             $7

Overhead              $11

Total variable       $23

Fixed manufacturing costs per unit:

Depreciation are   $6

Supervision are     $1

Total fixed costs   $7

Total costs =       $30

March 2020 costs incurred for 97,000 units:

Direct materials        $515,000

Direct labor              $670,000

Variable overhead $1,073,000

Actual fixed costs      679,000

Total costs incurred $2,937,000

Flexible Budget Report for March 2020:

                                      Actual Budget   Flexible Budget   Variance

Direct materials                 $515,000        $485,000           $30,000  U

Direct labor                         670,000           679,000               9,000  F

Variable overhead           1,073,000         1,067,000               6,000  U

Actual fixed costs              679,000           679,000                       0  None

Total costs incurred    $2,937,000       $2,910,000           $27,000  U

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3 years ago
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