The correct answer is routine problem solving. Routine
problem solving is being defined as having to associate at least one arithmetic
operations or even a ratio in regards to solving problems that are likely to be
practical in nature or in the environment.
Question Completion:
Epsilon Co. can produce a unit of product for the following:
Direct material $8
Direct labor 24
Overhead 40
Total costs per unit $72
Answer:
Epsilon Co.
Epsilon should choose to:
Make since the relevant cost to make it is $56.
Explanation:
a) Data and Calculations:
Direct material $8
Direct labor 24
Overhead 40
Total costs per unit $72
Relevant Costs:
Make Buy
Direct material $8
Direct labor 24
Overhead 24
Total costs per unit $56 $60
b) It costs Epsilon less to make the units than to buy from the outside supplier. The relevant cost excludes the 40% of the overhead that will still be incurred by Epsilon if it buys from the supplier. Relevantly, it costs Epsilon $56 per unit to make when compared to the unit cost of $60 to buy. In absolute terms, it will cost Epsilon $76 ($60 + $16) to buy as against $72 to make a unit of the part.
Serve the navy load planes and stuff, then be a manager and quit ur job for like 3 months at a time
continue that for like 20 years and leave.Then wait 4 ur paycheck at the end of the month
live in luxury, moar checks coming
For a nation's leaders, this production possibilities frontiers model demonstrates what to produce, how to make it, and for which markets. Examine how changes in the economy affect a nation's production possibilities curve using examples from real-world situations.
<h3>What is Production Possibilities Curve?</h3>
A production possibilities curve depicts all the combinations of ways we can create these two items within the constraints we face, including the scarcity of resources.
Some characteristics of Production Possibilities Curve are-
- The main premise is that this curve will move in either direction depending on what influences economic output.
- Any economy's main objective is development, which is achieved by meeting consumer demand for more and more of the products and services being produced.
- We can produce more as long as everything else stays the same, hence the production possibility curve will move to the right or outward as the economy expands.
- Of course, the curves would move to the left if the economy had to contract. The output is growing when the curve moves outward or to the right.
- The output is diminishing when the curve turns inward or to the left.
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