Answer:
Direct labor hour will be 158000
Explanation:
We have given manufacturing overhead cost = $510000
An total budgeted manufacturing cost = $984000
So balance variable cost = $984000 - $51000 = $474000
It is given that $3 per direct labor hour
We have to fond the number of labor hours
So number of direct labor hours will be 
So dire t labor hour will be 158000
Answer:
a. Marginal revenue exceeds marginal cost.
Explanation:
<u>Note</u>: <u>The words "profit is not maximized" have been interpreted as, "the firm at current level of output earns profits, but not maximum profits it can earn." The answer provided herein is based upon this assumption.</u><u> </u>
Marginal revenue (MR) refers to the addition to total revenue when an additional unit of output is sold.
Similarly, marginal cost (MC) refers to the addition to total cost of production, when an additional unit is produced.
For an optimal level of production, and as a condition for profit maximization under perfect competition,
MR = MC and the marginal cost should increase post the level of output at which MR = MC.
If a competitive firm operates at a level wherein profits are not maximized, but the firm does earn profits, it indicates the stage of production wherein the marginal revenue exceeds the marginal cost.
Thus, as firm produces more and more units of output, it would reach a stage wherein marginal revenue would equal marginal costs and profits shall be maximized.
Answer:
The correct answer is letter "B": existence, completeness, and rights and obligations.
Explanation:
Assertions are management claims about certain matters regarding a company. Those claims are raised as a result of <em>auditing</em> the firm's financial statements. There are three (3) types of assertions which are:
- Transaction-level assertions: <em>accuracy, classification, completeness, cutoff, and occurrence.
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- Account balance assertions: <em>completeness, existence, rights and obligations, and valuation.
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- Presentation and disclosure assertions: <em>accuracy, completeness, occurrence, rights and obligations, and understandability.</em>