Answer:
But 1 Batman comics book, and 2 Superman comics book
Explanation:
Remember, Tom has only $5 to spend on the two books, with the goal of deriving maximum utility. Thus, if he spends on 2 quantity of Superman comics he deeives total marginal utility of 150 (58+92). Then, he may proceed to Batman comics, which gives him a marginal utility of 40.
Answer:
Total Variable overhead variance $30,000 Unfavorable
Explanation:
Standard variable overhead per unit
= $2 per hour × 10 hours per unit
= $20 per unit
$
18,000 units should have cost (18,000× $20 per unit) = 360000
but did cost <u>390,000</u>
Total Variable overhead variance <u>30,000 </u>Unfavorable
Answer:
860
Explanation:
The HHI is calculated by squaring the market share of each firm in the industry.
8(10²) + 2(5²) + 10(1²) = 800 + 50 + 10 860
Answer:
1-Liquids have fixed volume but they have no fixed shape
2-Liquids flow from higher to lower level
Answer:
The major advantage of multiple step income statement is that it breaks down the operating revenues and the costs incurred in the business.
It shows separated Gross profit which can be calculated as: Sales - COGS.
Apart from that, it shows separate Operating Income: Gross Profit - Operating expenses.
Lastly, it shows Net income: Operating income + non operating income.
Hence, concluded that, multiple step income statement offers a greater and detailed picture as compared to single step income statement.
Hope this helps.
Good Luck buddy.
