Answer:
a. 7,900
b. 10,100
Explanation:
As for the provided information,
We know at break even point taxes shall be = 0 as there are no profits and no losses.
a. At break even: = 
Fixed Cost = $308,100
Contribution per unit = Selling price - Variable cost = $79 - $40 = $39
Therefore, break even units = 
b. In case the company wants a profit of $51,480 after tax @ 40% then,
Earnings before taxes = 
= $85,800
Therefore, number of units = 
= 
= 10,100
Answer:
The correct answer is D.
Explanation:
Monopolistic competition is a type of imperfect competition such that many producers sell products that are differentiated from one another as goods but not perfect substitutes (such as from branding, quality, or location). In monopolistic competition, a firm takes the prices charged by its rivals as given and ignores the impact of its own prices on the prices of other firms.
Monopolistic competitive markets:
have products that are highly differentiated, meaning that there is a perception that the goods are different for reasons other than price;
have many firms providing the good or service;
firms can freely enter and exits in the long-run;
firms can make decisions independently;
there is some degree of market power, meaning producers have some control over price; and
buyers and sellers have imperfect information.
<h2>Every country operate in a different yet similar system of both political and social affairs.</h2>
Explanation:
Every country operate in a different yet similar system of both political and social affairs. In terms of political differences, some countries have parliamentary governments while some countries like the US have presidential governments.
Regardless of how each country operate politically, most of the operational system of these countries are embedded in democracy and the general welfare of its citizens. The differences occur because of these operational systems of each country. They could differ in policies, reforms or laws which are based on the interests of its people and the nation.
In economic terms, the differences occur when governments prioritize what economic policies or model they choose to implement. Economic systems of a country change according to the need of the times. For instance, China initially, after its independence, chose to remain a closed economy until it reformed its policies in 1978 to finally open up the country.
Legal systems of countries differ from one another as every country use a civil law system based on its cultural, social, political and historical circumstances. For instance, in US each state has the power to establish its own legal procedures while in some country, every state must follow a uniform civil code.
As we know the political economy refers to both the political and economic systems of a country, management practice of national differences is important to taken into account before securing economic relations with another country. Management practice of national differences helps in finding favorable economic and political systems around the world for a country to make both economic and political partnership with.
Answer:
Standard Hours Standard Rate per Hour Standard Cost
24 minutes (0.4 hrs.) $5.40 $2.16
During August, 8,390 hours of direct labor time were needed to make 19,600 units of the Jogging Mate. The direct labor cost totaled $43,628 for the month.
1. What is the standard labor-hours allowed (SH) to makes 19,600 Jogging Mates?
- 19,600 jogging mates x 0.4 hours = 7,840 hours
2. What is the standard labor cost allowed (SH × SR) to make 19,600 Jogging Mates?
- 7,840 hours x $5.40 = $42,336
3. What is the labor spending variance?
- labor spending variance = standard cost - actual cost = $42,336 - $43,628 = $1,292 unfavorable
4. What is the labor rate variance and the labor efficiency variance?
- labor rate variance = (standard rate - actual rate) x actual hours = ([$5.40 - ($43,628/8,390 hours)] x 8,390 hours = ($5.40 - $5.20) x 8,390 hours = $0.20 x 8,390 = $1,678 favorable
- labor efficiency variance = (standard hours - actual hours) x actual rate = (7,840 hours - 8,390 hours) x $5.20 = -550 hours x $5.20 = -$2,860 unfavorable
Answer: General Leger account balances aggregate data to determine payroll costs
.
The account balances form the basis for accounting reports.
Explanation: a General ledger is defined as the central accounting record of a company or organization consisting of the accounts that support the value items shown in the major financial statements.
The general ledger provides information of accounting reports which in turn is used to balance aggregate data to determine payroll costs
.
