Answer:
$59,410
Explanation:
With regards to the above information, we need to calculate first, total number of units for first quarter of the year.
Total number of units for first quarter of the year = 2,960 + 2,740 + 3,440
= 9,140
But, each unit requires 0.5 hours of direct labor.
It therefore means that;
1 unit need ----- 0.5 hours of direct labor
9,140 ----- ?
= (9,140 × 0.5) / 1
= 4,570 hours.
Finally, we will multiply the total hours by the payment per hour, or direct labor rate; which is $13 per hour.
= 4,570 × $13
= $59,410
Therefore, the budgeted direct labor cost for the first quarter of the year is $59,410
For all the technology coming out of China today, its rural community is still very primitive. Farmers in the Western World have found ways to scientifically improve their growing techniques. Crop rotations allow for nutrient rich plants to regenerate the soil every other year. Also letting a field go fallow one years allows for recovery of soil. There are many other ways the West is improving their crops and educating new farmers in agriculture science. However, southeast Asian farmers to do not have access to this technology or sometimes computers/internet. They are using the same techniques that they have for over a thousand years. Until education is available for them or they are taught different they will continue to use the same techniques taught by their father. Even to the detriment of their land.
C. 60
Explanation:
Producer's Surplus means the value producer derives from selling goods. For example, if producer is willing to sell the product for a price 8 but consumers are willing to pay a higher price, let's say 20, then producer achieves a surplus of 12 per unit. Let's calculate the producer's surplus -
As per question, Reservation Price (RP) =20, Price (P) =8, & Quantity (Q) =10
The formula for Producer Surplus (PS) is as follow:
PS = 1/2 (RP - P) x Q
= 1/2 (20-8) x 10 = 60
Answer: (A) Capitalist
Explanation:
The main importance of the capitalist system is that it is the private property and the control over the various types of factors such as competition, production and the capital accumulation.
The global economical system is basically approach the capitalist in the form of the single unit according to the theory of world system. The private ownership, free market and the capital concentration are some of the characteristics of the capitalist.
Therefore, Option (A) is correct.
Answer:
In the country that promotes free-market economy is expected to start seeing firms arriving in this country and invest in those activities where this country has a comparative advantage.
Explanation:
This would lead to an efficient allocation of productive resources taking the economy to optimum production. The technology and tools will rapidly spread, and the industrialization process will be achieved. In the other country, investment and technology implementation is lead by the government allocating resources inefficiently and delaying industrialization.
