Answer:
greater than the expected price level
Explanation:
The short run aggregate supply curve shows graphically that the real output is more than its long run level when the price level is more than expected price level. When there is great expectation about inflation it shifts the short run Aggregate Supply curve outwards or to the right. Price level would then rise in the long run but real output would stay the same or unchanged.
7. a) Loyal customers are most valued because they continue to bring business over time
9. b) quality costs are all the costs that results from defects and that are incurred to prevent defects.
14. b) inseparability
16. a) fluctuating demand (fluctuation means change/going up and down)
19. a) one seller and many buyers.
Answer:
It is an example of variety diversity
Explanation:
Variety diversity is the term which is defined as the team that involves or comprise of the marketing professional, specialist, head of advertising department, legal expert and advertising professional.
In this case, when the employees assigned important advertising account, then they make sure that the team comprise of different kind of expertise which could help in generating the creative ideas. Therefore, it is example of variety diversity.
Answer:
Explanation:
Manufacturing overhead records all the expenses like salaries payable which come under indirect labor. Manufacturing overhead includes all those indirect costs which are related to the factory-like - factory rent, factory repairs, depreciation on factory equipment, property taxes
For recognized expense, the journal entry would be
Factory overhead A.c Dr
To Expenses A/c
(Being expense recognized)
Since the cost is actually incurred so this above entry should be made
And, the journal entry for applied overhead is shown below
Work in progress inventory A/c Dr XXXXX
To Factory overhead A/c XXXXX
(Being overhead applied is recorded)
Since applied overhead is based on predetermined overhead rate so we credit the factory overhead and debit the work in progress inventory
