Answer:
Net profit is more important to consider because it accounts for all the costs associated with making and selling the product and it includes the operating expenses that are excluded from gross profit. Gross profit is the profit made after deducting costs associated with making and selling its products, or the costs associated with providing its services.
Answer:
$880 favorable
Explanation:
The computation of direct materials price variance for last month is shown below:-
Direct material price variance = Actual quantity × (Standard price - Actual price)
= 2,200 × ($8 - ($16,720 ÷ 2,200)
= 2,200 × ($8 - 7.6)
= 2,200 × $0.4
= $880 Favorable
Therefore for computing the direct materials price variance for last month we simply applied the above formula.
Answer:
D) Shifts in aggregate demand are often the result of waves of pessimism or optimism among consumers and businesses.
Explanation:
The Federal Reserve (FED) can respond to excessive pessimism among consumers and businesses by expanding the money supply and lowering interest rates. To deal with excessive optimism they can do the opposite, they can shrink the money supply and increase the interest rate.
Answer:
Lack of efficiency.
Explanation:
As Trent Automobiles Inc. was expecting a large shipment of scrap metal and due to the fact that it could not arrive on time, the only way to compensate the loss was to make an urgent order for same quantity of scrap metal from a local manufacturer, which led the company to compromise on the quality. If proper track was kept and all the upcoming scenarios had been calculated before hand with a ready substitute raw materials before hand, this would have been not the result. Thus, this indicates a complete lack of efficiency from the side of management of the company.
Answer:
Power is an entity's or individual's ability to control or direct others, while authority is influence that is predicated on perceived legitimacy.
