All categories

4 years ago

With scarcity at the base of all material economics the key operating principle is

1 answer:

4 0

With scarcity at the basis of all material economics, the key operating principle is Opportunity Cost. This is defined as the loss of potential gain from other alternatives when one alternative is chosen. If you have more of one thing, you must have less of another.

You might be interested in

For 2018, Franklin Manufacturing uses machineminus−hours as the only overhead costminus−allocation base. The estimated manufact

Kobotan [32]

Answer:

$7.5 per machine hour

Explanation:

The computation of the budgeted manufacturing overhead rate is shown below:

The budgeted manufacturing overhead rate = Estimated manufacturing overhead costs ÷ Estimated machine hours

= $300,000 ÷ 40,000 machine hours

= $7.5 per machine hour

In order to compute the budgeted manufacturing overhead rate we simply divided the estimated manufacturing overhead costs by the estimated machine hours.

7 0

4 years ago

Common allocation bases are a.direct labor dollars, direct labor hours, machine dollars b.direct labor dollars, direct labor hou

Charra [1.4K]

Answer:

c.direct labor dollars, direct labor hours, machine hours

Explanation:

The allocation bases are the base through which the overhead cost is allocated on the basis of direct labor in dollars amount, direct labor hours, machine hours, occupied square foot, etc

The base of allocation is the allocation method through which the indirect cost is distributed to the departments like - production department, service department, etc

4 0

3 years ago

When the economy is in a severe recession, an increase in aggregate demand will lead to __________.

tester [92]

Answer:

The correct answer is letter "A": an increase in the long-run equilibrium level of output.

Explanation:

Aggregate Demand is a macroeconomic term describing the total demand in an economy for all goods and services at any given price level in a given period. That scenario implies aggregate demand is the demand for the Gross Domestic Product (<em>GDP</em>) of a country.

In front of a recession, the government should promote the increase the aggregate demand by <em>lowering rates</em> so more loans will be available and reachable. With more loans, more investments come and in the long term, the output is likely to hit its equilibrium point.

6 0

3 years ago

What is known as water beneath the surface that runs in recognizable underground streams or collects in porous ground layers cal

Naya [18.7K]

Answer: Groundwater

Explanation:

Groundwater are water that gather underneath the soil surface, stored around rocks and slowly flow from a point to another as underground streams. Groundwater is vital to human survival, as they can be consumed directly and are also a source of water for farming.

5 0

4 years ago

The LFH Corporation makes and sells a single product, Product T. Each unit of Product T requires 1.5 direct labor-hours at a rat

QveST [7]

Answer:

Direct labor cost per unit= $15.75

Explanation:

Giving the following information:

Each unit of Product T requires 1.5 direct labor-hours at a rate of $10.50 per direct labor-hour. The direct labor workforce is fully adjusted each month to the required workload. LFH Corporation needs to prepare a Direct Labor Budget for the second quarter of next year.

Direct labor cost per unit= 1.5*10.5= $15.75

3 0

3 years ago