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3 years ago

Manufacturers follow four steps to implement a manufacturing overhead allocation system. The last step is to:

1 answer:

4 0

Answer: Manufacturers follow four steps to implement a manufacturing overhead allocation system. The last step is to: " B. Allocate some manufacturing overhead to each individual job ".

Explanation: The steps to implement a manufacturing overhead allocation system are:

1) Obtain a detailed list of all general manufacturing costs.

2) Choose an allocation base (machine hours, direct labor hours) to divide the general factory costs by this allocation base and assign general costs to each production unit.

3) The total allocation base is divided by the units produced to know the amount of manufacturing overhead associated with each unit.

4)"B. Assign some general manufacturing expenses to each individual job." For example, product X requires 2 hours of work to produce it and product Y one hour, higher general manufacturing costs will be assigned to product X

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Toby’s current marginal utility from consuming peanuts is 100 utils per ounce and his marginal utility from consuming cashews is

statuscvo [17]

Answer:

a. Toby is not maximizing his utility

b. Toby should reduce his spending on cashew and increase his spending on peanuts.

Explanation:

a. Is Toby maximizing his total utility from the kinds of nuts? If so, explain how you know.

Toby will maximize his utility when we have:

MUp/Pp = MUc/Pc

Where;

MUp/Pp = Marginal utility of peanut divided by price of peanut = 100/10 = 10

MUc/Pc = Marginal utility of cashew divided by price of cash = 200/25 = 8

From the above, Toby is not maximizing his utility. I am able to know this because MUp/Pp > MUc/Pc (i.e. 10 > 8). An Toby will only maximize his utility when MUp/Pp = MUc/Pc.

b. If not, how should he rearrange his spending?

Since MUp/Pp > MUc/Pc (i.e. 10 > 8), Toby should reduce his spending on cashew in order to increase MUc and increase his spending on peanuts reduce MUp until MUp/Pp = MUc/Pc.

3 0

3 years ago

In the long run, assuming that market demand stays the same, if firms in a competitive industry expand, then the product price w

navik [9.2K]

Answer:

True

Explanation:

In Microeconomics, there is a correlation between offer and demand. If the market demand stays the same, in a competitive industry expanding its demand other suppliers will come into the game.

So, in the long run. Prices will end up to fall as a result, until it stabilizes on average.

3 0

3 years ago

When makers of a product increase their price, consumers are often unwilling to continue to purchase the product (or at least as

Romashka [77]

<span>This is known as the law of demand. As price of a product rises, the quantity demanded decreases. Conversely, if the price of a good or service decreases, then the quantity demanded will rise. When producers raise prices of their goods or services, consumers may find other products, called substitute goods to use in place of the normal goods.</span>

4 0

3 years ago

Read 2 more answers

Lindon Company is the exclusive distributor for an automotive product that sells for $34.00 per unit and has a CM ratio of 30%.

Assoli18 [71]

Answer:

1. $23.80

2. Break even Point (units) = 19,000 units and Break even Point (dollars) = $646,000

3. Unit sales to attain a target profit = 28,000 units and Dollar sales to attain a target profit = $952,000

4. Break even Point (units) = 28,500 units, Break even Point (dollars) = $969,000 and Dollar sales to attain a target profit = $1,428,000.

Explanation:

Variable Cost % = 100% - 30%

= 70%

Thus, variable expenses per unit = $34.00 × 70%

= $23.80

Break even Point is the level of activity where a firm makes neither a profit nor a loss.

Break even Point (units) = Fixed Cost / Contribution per unit

= $193,800 / ($34.00 ×30%)

= $193,800 / $10.20

= 19,000 units

Break even Point (dollars) = Fixed Cost / CM Ratio

= $193,800 / 0.30

= $646,000

Unit sales to attain a target profit = (Fixed Cost + Target Profit) / Contribution per unit

= ($193,800 + $91,800) / $10.20

= 28,000

Dollar sales to attain a target profit = (Fixed Cost + Target Profit) / CM Ratio

= ($193,800 + $91,800) / 0.30

= $952,000

When variable expenses reduce by $3.40 per unit.

Break even Point (units) = Fixed Cost / Contribution per unit

= $193,800 / ($34.00 - $23.80 - $3.40 )

= $193,800 / $6.80

= 28,500 units

Break even Point (dollars) = Fixed Cost / CM Ratio

= $193,800 / ($6.80/ $34.00)

= $969,000

Dollar sales to attain a target profit = (Fixed Cost + Target Profit) / CM Ratio

= ($193,800 + $91,800) / 0.20

= $1,428,000

6 0

3 years ago

Many of today’s ____________________ systems concentrate on hiring and managing existing employees to get the total potential of

maxonik [38]

Answer:

The correct answer is: Human Resource Management

Explanation:

To begin with, the<em> Human Resource Management Systems</em> are the ones that focus on the managing of the human factor inside the organization with the purpose of making easier the processes of hiring, collecting data and more. So therefore that this systems concentrate on hiring and managing existing employees to get the total potential of the human talent in the organization by having a better and more organized place in where the managers can deal with those issues and other stuff related to that.

7 0

3 years ago