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2 years ago

Relevant information for Material A is as follows:

Business

1 answer:

stiv31 [10]2 years ago

7 0

Answer:

Direct Material Quantity Variance = $2,000 Unfavorable

Explanation:

For the provided information we have,

Actual quantity used = 6,500 lbs

Standard quantity allowed for actual production = 6,000 lbs

Actual price = $3.80

Standard price = $4.00

Direct Material Quantity Variance = (Standard Quantity - Actual Quantity) $\times$ Standard Price

= (6,000 lbs - 6,500 lbs) $\times$ $4.00

= - $2,000

As we can see that actual quantity used is more than the allowed standard quantity, thus, the variance is unfavorable.

Direct Material Quantity Variance = $2,000 Unfavorable

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Suppose in 2016, you purchase a house built in 2003. Which of the following would be included in the gross domestic product for

Katen [24]

Answer:

1) C) The value of the services of the real estate agent

2) B) $6,400

Explanation:

First, there are two questions lumped together as one

Question 1: Suppose in 2016, you purchase a house built in 2003. Which of the following would be included in the gross domestic product for 2016?

A) The value of the house in 2013

B)The value of the house in 2016 minus depreciation

C) The value of the services of the real estate agent

4) The value of the house in 2016

Question 2: Suppose that a simple economy produces only four goods and services shoes. DVDs, tomatoes, and ketchup. Assume one half of the tomatoes are used in making the ketchup and the other half of the tomatoes are purchased by households.

Products Quantity Price

Shoes 40 $60

DVDs 100 $18

Tomatoes 2,000 $1

Ketchup 300 $4

Using the information in the above table, nominal GDP for this simple economy equals A) $7, 400. B) $6, 400. C) $5, 800 units. D) $2, 440.

<u>Answer to the First Question</u>

First the Gross Domestic Product of a Country usually represents the market value or referred to as total monetary value of finished products as well as services that were engaged in during a specific period of time and within the borders of that country. The thing about GDP is that it only reflects items that are captured as products or services and which are reported for the year.

In the question therefore, the GDP will only reflect the value of product or service that was newly created in 2016. The house was built in 2003, therefore the relevant GDP item (value of the house) was captured in 2003.

The only new value is the Value of the services of the real estate agent who was engaged in 2016 to facilitate the sales of the house.

<u>Answer to the Second Question:</u>

Nominal GDP represents GDP valued at current market prices for products or services.

To calculate the Nominal GDP we look at the goods and then calculate based on their current market prices.

(Shoes = 40 pieces x $60) + (DVDS = 100 pieces x $18) + (Tomatoes (1000x$1 - 1/2 purchased by households) + (Ketchup 300 x $4)

= $2400+ $1,800+ $1000+ $1,200

= $6,400

5 0

2 years ago

Doug's Boat Shop, Inc. reports operating income of $260,000 and interest expense of $31,200. The average common stockholder

SCORPION-xisa [38]

Answer:

1. Interest coverage ratio=8.33

2. debt stockholder ratio=0.624

3. debt ratio=0.21

Explanation:

Leverage ratio is a financial tool used to determine a company's level of debt and it's ability to handle debt without going bankrupt.

1. Consider the interest coverage ratio formula;

interest coverage ratio=operating income/interest expense

where;

operating income=$260,000

interest expense= $31,200

replacing;

interest coverage ratio=260,000/31,200=8.33

2. Consider the debt to equity ratio formula;

debt to equity ratio=debt/stockholder equity

where;

debt=interest expense=$31,200

stockholder equity= $50,000

replacing;

debt stockholder ratio=31,200/50,000=0.624

3. Consider the debt ratio formula;

debt ratio=debt/assets

where;

debt=interest expense=$31,200

average assets=(beginning asset balance+ending asset balance)/2

average assets=(115,000+180,000)/2=$147,500

replacing;

debt ratio=31,200/147,500=0.21

3 0

2 years ago

What is organization? Explain elements with definition.

SVETLANKA909090 [29]

Answer:

An organisation is a business that has grown so big that it earns a lot of money

Explanation:

7 0

2 years ago

The most rapidly growing economies in the Asia Pacific region during the 1980s and 1990s, Hong Kong, South Korea, Singapore, and

Masja [62]

Answer:

Asian Tigers

Explanation:

In the 1980s and 1990s these four countries from the asia; Hong Kong, South Korea, Singapore, and Taiwan achieved the status of developed countries. There was a great development in the industrial scenario of these countries which in turn greatly improved the economical condition of these countries. There influence in the region also grew with their development.

Even today these four countries are very developed in education, science and technology, exports, information & technology, innovation etc.

9 0

3 years ago

Read 3 more answers

Health And Safety Issues to an Organization

sertanlavr [38]

Occupational safety and health (OSH) also commonly referred to as occupational health and safety (OHS) or workplace health and safety (WHS) is an area concerned with the safety, health and welfare of people engaged in work or employment. The goals of occupational safety and health programs include to foster a safe and healthy work environment.

7 0

2 years ago