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Natali5045456 [20]
3 years ago
10

Even when competitive firms are unable to calculate marginal revenue product directly, ______________________________ will push

wage rates toward the marginal revenue product of labor.
Business
1 answer:
Alona [7]3 years ago
8 0

Answer:

Even when competitive firms are unable to calculate marginal revenue product directly, <u>competition in the labor market</u> will push wage rates toward the marginal revenue product of labor.

Explanation:

The labor market is made up of employers seeking for labor and employees offering their labor services. The law of supply and demand also applies to this market, when more employers are seeking employees, the price (= salary) will increase.

For example, if many companies are making a  profit and they need more labor, the salaries will rise because the demand is rising.

Also the suppliers, the potential employees, compete against each other for the best possible jobs.

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Explanation:

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The management of Firebolt Industries Inc. manufactures gasolineand diesel engines through two production departments, Fabricati
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Solution:

Single factory overhead amount: the amount at which plant overheads or processing overheads are assigned to goods is referred to as single plant overhead rate.

Formula to measure a single plant-wide overhead rate:

Single plant-wide overhead rate :

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Different development team overhead rate: this distribution system describes the various divisions engaged in the manufacturing cycle. Factory overheads are assigned to goods on the basis of the overhead cost for each of the manufacturing units.

Formula for calculating various output department overhead:

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\frac{ Budgeted department factory overhead}{ Budgeted department factory overhead}

For calculate: single plant-wide overhead rate use direct working hours (DLH) as the allocation basis, and measure factory overhead.

Using DLH as the allocation basis to measure a single plant-wide overhead limit.

Single plant-wide overhead rate :  \frac{Total budgeted factory overhead}{ Total budgeted plant-wide allocation base}

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For calculate: single plant-wide overhead rate use direct working hours (DLH) as the allocation basis, and measure factory overhead.

Using DLH as the allocation basis to measure a single plant-wide overhead limit.

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