Even though that particular business have the motive of increasing profit there would be a lot of benefits that the society will get such as...
Since most of the business are working for profit in the market this create competition among each other this results to a lower price in markets therfore the society can afford to buy things.
A bad side of such business could be the monopoly power, if there is no company that produces similar good or service they tend to abuse the consumers by increasing the price of the goods and services they provide as there are no other firms that provide similar goods or services.
Answer:
$8000
Explanation:
Given: Budgeted Overhead $240,000
Budgeted Labor Hrs 60,000
Actual Labor Hrs for Job B25 200
Actual labor cost for B25 $2,200
Direct Material cost for B25 $5000
Standard/ Budgeted overhead absorption rate = Budgeted Overheads/ Budgeted labor hours = $240,000/60,000 = $4 per labor hours
Budgeted overheads for actual 200 labor hours = 200 × $4 = $800
Labor cost and material cost incurred for Job B25 = $2200 + $5000 = $7200
Add: Budgeted overhead cost for 200 labor hours = $800
Cost of Job B25 = $7200 + $800 = $8000
1=A
2=D
3=C
4=A
5=C
6=C
7=D
8=A
9=C
10=D
11=C
12=A
13=C
14=B
The answers that fit the blanks provided are ECONOMIC and TRANSACTION, respectively. Based on the given scenario above regarding Atlanta company, and Phoenix company, we can say that Atlanta company is more exposed on the economic perspective, and Phoenix company is more exposed on the transaction perspective.
