The benefits of adopting ABC/ABM are higher for companies in competitive markets because <u>accurate product cost info is essential and ABM can pinpoint opportunities for cost saving.</u>
A competitive marketplace is a structure in which no single purchaser or manufacturer has the electricity to influence the market. Its response to delivery and demand fluctuates with the supply curve, an illustration of a product's quantity.
The 4 popular styles of market systems encompass the best competition, oligopoly market, monopoly marketplace, and monopolistic competition.
In economics, in particular trendy equilibrium theory, a really competitive marketplace, additionally known as an atomistic marketplace, is defined by way of numerous idealizing situations, together known as perfect opposition, or atomistic opposition.
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Answer:
Variable overhead cost variance = $2,949.80
Explanation:
As per the data given in the question,
Actual overhead cost = $15,000
Actual hours = 490
Actual cost = $30.61 per hour
Standard overhead cost = $15,000
Standard hours = 610
Budgeted cost = $24.59 per hour
Variable overhead cost variance = Actual hours × (Actual cost per hour - Standard cost per hour)
= 490 × ( $30.61 - $24.59 )
= $2,949.80
Answer:
The correct answer is option a.
Explanation:
In the consumption of two commodities, the total utility is maximized when the ratio of marginal utility and price of the product is the same for both the goods.
A person is consuming two goods, peanuts and chips. The individual is able to maximize total utility. If the price of peanuts and chips are equal, this means that the marginal utilities derived from the consumption of these two must be equal.
