The inequality across the u. S. Economy on greater wage inequality was primarily caused by the new technologies.
<h3>What is wage inequality?</h3>
Wage inequality refers to the difference in the distribution of income among individuals, groups, populations or countries. It is a measure that highlights the gap between different individuals' or households' disposable income in a particular year.
Causes of wage inequality are:
- Technological change
- Globalization
- The decline of unions
- The eroding value of the minimum wage
Hence, the inequality across the u. S. Economy on greater wage inequality was primarily caused by the new technologies.
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Answer:
Statement I and III
Explanation:
Under traditional costing, there is no such identification of various activity pools like activity costing, there is general allocation of overheads based on overhead assigned on labor hours, or machine hours etc:
This is the method in which volume of goods is important and that is what matters for cost allocation.
Further, when they require numerous activities and then the costs allocation based on each different process or activity is not possible as number of activities are really high.
Therefore Statement I and Statement III are correct.
Answer:
From the list of options, Option A is the only correct one:
"the actual usage of materials was less than the standard allowed".
Explanation:
<em>Material usage variance</em>
A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite.
<em>Material price variance</em>
A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite.
From the list of options, Option A is the only correct one
There appear to be an influential observations in these data as the mean of the leverage value is 0.75.
<h3>How to calculate the mean?</h3>
From the data points given, the influential observation is observation 8. Here, the mean of the leverage value will be:
= 3 × 0.25 = 0.75
Also, the scatter diagram indicates influential observations as it's extreme to the x values.
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Answer:
b. direct labor and factory overhead
Explanation:
The conversion cost is that convert which is used to convert the raw material to the finished goods inventory. It is a combination of the direct labor cost and the factory overhead or manufacture overhead cost.
It can be fixed or variable marinating costs only. It does not include direct material cost
It is computed by taking a difference of production cost and raw material cost
Hence option b is correct
