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3 years ago

Explain how firms decide how much labor to hire to produce a certain level of output

1 answer:

7 0

The firms focus on improving marginal returns. Apart from this, they focus on specialization which increases the output. The amount of labor the firm plans to hire depends on the level of output it requires. The firm keeps adding new workers until output reaches its crest or peak.

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Hope receives an $18,500 scholarship from State University. The university specifies books, supplies, and equipment, while $10,0

irga5000 [103]

Answer:

Hope's gross income = $5000 + $10,000 = $15,000

Explanation:

First, we need to highlight what are qualified education expenses especially for tax-free fellowships and scholarships.

Specifically, the qualified expenses that will be tax exempt will be

The tuition and fees which are requirements to go to an eligible school or institution

Other course related expenses required for courses in such institutions such as books equipment and supplies are also tax exempt.

<u>However, room and board, research travel and other expenses that are not required for courses in the institution are not tax free</u>

Based on this analysis:

Hope's initial earning on campus = $5000

However, $10,000 spent on room and board are not required for enrolment in the school, hence, it will be added to the earnings to make the gross income

Hope's gross income = $5000 + $10,000 = $15,000

5 0

3 years ago

Mid City Products Inc. (MCP), developed standard costs for direct material and direct labor. In 2017, MCP estimated the followin

Tasya [4]

Answer:

See below

Explanation:

The below shows the calculation of variance

Budgeted direct labor (per unit) 0.60

Units 2,000

Budgeted direct total labor (hrs) 1,200

Actual hours 1,160

Standard rate $17

Direct labor efficiency variance

The direct labor efficiency variance

= (Budgeted hours - Actual hours) × Standard rate

= (1,200 - 1,160) × $18

= $720 favourable

7 0

3 years ago

Lake stevens marina has estimated that fixed costs per month are $350,000 and variable cost per dollar of sales is $0.30.

Leni [432]

$500,000

Break even =(fixed costs - contribution margin)

Contribution margin is Price of item- variable costs ($1- 30 cents/per item=.7)

$350,000/.7 = $500,000

4 0

3 years ago

Is working at hobby lobby as a cashier hard

mojhsa [17]

Working at Hobby Lobby is like working at any other retail store. People ask where things are, you'll probably have to clean once in a awhile but it's fun and looks great on resumes for the future. Also, if you do work there, you probably won't be doing just the register.

6 0

3 years ago

Tyrell Company issued callable bonds with a par value of $36,000. The call option requires Tyrell to pay a call premium of $500

Natalka [10]

Answer and Explanation:

The Journal entry is shown below:-

1. Bond Payable Dr, $36,000

Loss on retirement of bond Dr, $8,000

To Cash $36,500

To Discount on bond payable $7,500

(Being early retirement of bond is recorded)

For recording the early retirement of bond we debited the Bond Payable as it decreasing the liability and Loss on retirement of bond as it is a loss and we credited the cash as it decreases and Discount on bond payable as it is a balancing figure.

2. Bond Payable Dr, $36,000

Premium on bond payable Dr, $1,000

To Cash $36,500

To Gain on retirement of bond $500

(Being early retirement of bond is recorded)

For recording the early retirement of bond we simply debited as it decreasing the liability and we credited the Gain on retirement of bond as it is a income.

5 0

4 years ago