Answer:
(a) $2.80; 3.40
(b) $1,400,000; $1,700,000
Explanation:
(a) Standards are stated as a per unit amount.
Therefore,
standard materials:
= Total estimated cost for materials ÷ Estimated production of Product X
= $1,400,000 ÷ 500,000
= $2.80
Standard labor:
= = Total estimated cost for labor ÷ Estimated production of Product X
= $1,700,000 ÷ 500,000
= $3.40
(b) Budgets are stated as a total amount.
Thus, the budgeted costs for the year are materials $1,400,000 and labor $1,700,000.
A collection of instructions provided in writing by an organization to its management and employees to assist them in acting in a manner consistent with its core values and moral principles.
A code of ethics is a collection of values and guidelines that people and organizations use to guide their decision-making and to discern between right and wrong. They give a general understanding of a company's or organization's ethical standards.
The main focus of HRM ethics is on the employer's moral responsibility to uphold fairness and equality for all employees. HRM ethical topics basic civic, employment, and human rights struggles.
To learn more about code of ethics
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Answer:
The answer is D.
Explanation:
Tax burden can also be called tax incidence and it is a measure of the impact of imposition of tax on the participants i.e producers. Snd seller.
Tax burden or tax incidence the tax burden falls more heavily on the side of the market that is less elastic(the tax burden falls more heavily on participant that is not willing to exit the market when price is high
Answer:
A) where the firm's marginal revenue equals its marginal cost.
B) average total cost per unit should equal the marginal cost per unit.
C) at their highest level.
Explanation:
Profit maximizing levels where marginal revenue = marginal cost, is applicable to every type of company regardless in what type of market they operate, e.g. perfect competition, monopoly, monopolistic competition, etc.
Under absorption costing the cost per unit of goods includes the element of fixed cost thus when goods are not sold a portion of fixed costs gets deferred to the next accounting period, thus as can be observed $10 of 1000 units has been deferred to the next period, hence the net profit under absorption costing will be $10000 ($10*1000) higher.
Under Variable costing the fixed cost for the period will be incurred in the same period as they are not included in the per unit cost.
Thus from the above observation absorption costing net operating income would be higher than its variable costing net operating income by $10000.