Answer:
Productivy would go up only as long as some of the workers can become competent managers.
Explanation:
The problem with worker ownership of the means of production (the firm), which is what socialism is about, is that workers do not necessarily have managerial skill, and as result, are likely to be unable to run the company efficiently.
In case this does not happen, and the workers manage to run the company well, GDP would increase because productivity in the firm would rise. Inflation would likely fall down because more productivity means more output of goods and services, and inflation tends to have a inverse relationship with output (although it also depends on other variables like the rate of growth of the money supply).
Finally, another macroeconomic variable that would positively affected is employment rate, because a more efficient company would likely require new workers.
Answer:
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Answer:
A. $55,125 favorable
Explanation:
The direct materials quantity variance is given by the difference between actual quantity used in production and the standard quantity valued at the standard cost.
Actual quantity used in production = 9,900 pounds
Standard quantity for actual units produced = 16,200 pounds
Standard cost per pound =$8.75.
The direct materials quantity variance is:
Since the company used a lesser quantity than the expected (standard) quantity, the balance is favorable.
Therefore, the answer is A. $55,125 favorable.
Answer:
The cash paid on June 24 is $8,754.25
Explanation:
The computation of the cash paid is shown below:
= (Merchandise purchase - returned goods) × ( 1 - discount rate)
= ($9,500 - $475) × ( 1 - 0.03%)
= $9,025 × 0.97
= $8,754.25
Since the company paid the amount within the discount period, so it can avail the discount benefit.
We deduct the discount rate from 1 as the percentage value is 100 so that accurate value can come.
