Answer:
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Answer:
The correct answer is option b.
Explanation:
Shen is working in a country where the inflation rate is high.
He gets a salary every two weeks.
After receiving his salary he immediately goes out and buys all the goods he is going to need over the next two weeks.
He converts the remaining salary in a more stable currency.
He does this in order to prevent his salary from losing purchasing power.
This effort that he is making to prevent his real income from losing value is called the shoe-leather cost of inflation.
The shoe-leather cost can be defined as the cost of time and effort made to prevent the cash holdings from losing their value.
Answer:
(A) Current period productivity= 4 units/hr
Previous period productivity= 3.833units/hr
(B) increase in productivity by 4.356 percent
Explanation:
A manager checkedthe rate of production and found out that a worker produced 160 units while working for 40 hours
In the previous week the same worker produced 138 units while working for 36 hours
(A) The current period productivity can be calculated as follows
= 160 units/40 hours
= 4 units/hr
The previous period productivity can be calculated as follows
= 138 units / 36 hours
= 3.833 units/hr
(B) The productivity growth can be calculated as follows
= current period productivity - previous period productivity / previous period productivity
= 4-3.833/3.833
= 0.167/3.833
= 0.04356 × 100
= 4.356 percent
Hence there was an increase in workers productivity by 4.356 percent
Answer:
<u>cost of goods manufactured schedule</u>
Raw Materials ($9,180 + $55,020 - $17,480) $46,720
Direct Labor $51,740
Manufacturing overheads :
indirect labor $6,510
factory insurance $4,700
machinery depreciation $4,380
machinery repairs $1,990
factory utilities $3,740
miscellaneous factory costs $1,980
Add Opening Work In Process $5,670
Less Closing Work In Process ($7,610)
Cost of goods manufactured $119,800
Explanation:
Cost of goods manufactured schedule shows a summary of results (cost) obtained from manufacturing activity during the production period.
After all resulting adjustments have been completed, the new equilibrium price will less than the initial price and output. The same will happen to the industry output. In each situation in which <span>an increase in product demand occurs in a decreasing-cost industry the result is: </span>the new long-run equilibrium price is lower than the original long-run equilibrium price.