Answer:
That statement is true
Explanation:
Pre-determined overhead is the method of overhead calculation that being done at the beginning of each accounting period. They use the number based on estimation from the performance on the previous period.
Determining pre-determined overhead of a machine is far easier compared to human labor since machine tend to give stable performance.
Since larger companies tend to use more machines than smaller companies, pre-determined overhad is more common among larger companies and rarely found in smaller ones.
Answer:
$200; $10; $6
Explanation:
(i) Profit is the difference between total revenue and total cost.
Profit = Total revenue - Total cost
= (Average revenue - Average cost) Q
= ($10 - $8) × 100 units
= $200
(ii) Under a perfectly competitive market conditions, the average revenue and marginal revenue are equal and profit maximizing firms under these market conditions producing at a point where marginal revenue is equal to the marginal cost.
Therefore, the marginal cost is equal to $10.
(iii) The average cost is the sum total of average fixed cost and average variable cost.
AC = AFC + AVC
AVC = AC - AFC
= $8 - ($200 ÷ 100 units)
= $8 - $2
= $6
Therefore, average variable cost is equal to $6.
Answer:
Kindly check explanation
Explanation:
Food production and consumption is critical and key to survival, no matter an established and generally accepted number of daily square meal of 3 is widely adopted. This gives a clue tgta, no matter a country's problem or issues they face, aspects which concerns food and generally agriculture would be treated preferentially. Following the outbreak and severe spread of the deadly virus, it became imperative that affected nations introduced critical measures to try and curtail its spread, stringent measures include ; restriction of movement, strict emphasis on social distancing, hence, the need to reduce the number of people on a particular site or work area, travel restrictions, among others. This restrictions had s here effect on the agriculture and the food supply chain and its effect was quickly very noticeable as people would eventually die of hunger if nothing was done. This prompted government to introduce exemptions and preference afforded to the agricultural sector ; such as keppibg trade channels open in other to facilitate food distribution, timely observation and monitoring of food crisis among others.
