Answer:
Overhead refers to the ongoing business expenses not directly attributed to creating a product or service. It is important for budgeting purposes but also for determining how much a company must charge for its products or services to make a profit
Explanation:
Answer:
2. (i) demand-side; (ii) both; (iii) supply-side; (iv) supply-side; (v) both
Explanation:
a. $1,000 per person tax reduction ⇒ focus on aggregate demand (more money for consumers to spend)
b. a 5% reduction in all tax rates ⇒ focus on both aggregate demand and supply (more money for consumers and suppliers)
c. Pell Grants, which are government subsidies for college education ⇒ focus on aggregate supply (more money for suppliers of college education)
d. government-sponsored prizes for new scientific discoveries ⇒ focus on aggregate supply (more money for suppliers of new scientific discoveries)
e. an increase in unemployment compensation ⇒ focus on both aggregate demand and supply (more money for consumers resulting in higher prices and lower output)
Answer:
b. Dr Production overhead control a/c Cr Material control account.
Explanation:
Indirect material in the production process is defined as those input that cannot be directly traced to the product. They are different from direct materials like raw materials that are used to make the product.
Indirect materials are classified as overhead.
The double entry for issue of indirect materials is:
Debit production overhead
Credit raw materials inventory (material control account)
Note direct production materials and indirect production materials are credited to material material control account on purchase.
Answer:
a. by measuring The relationship to inputs and outputs
Explanation:
Productivity shows the efficiency of generating output using the available inputs. It is measured by dividing the output of a company or a production line by the inputs used. Therefore, productivity shows the relationship between inputs and outputs.
Productivity can also be measured by labor output. In this case, the output is divided by the number of labor hours used.
