Answer:
The answer is E. a unit of account; a medium of exchange
Explanation:
Because they allows different things to be compared against each other; for example, goods, services, assets, liabilities, labour income, expenses.
A unit of account is a monetary unit of measurement of value or cost.
And the second is a medium of exchange because $3 is being used to buy cone. It exchanged money for cone.
Answer:
The equilibrium hourly wage is the wage where the curve of supply of labor intersects with that of the demand for labor. The same goes for the equilibrium quantity of labor.
The equilibrium hourly wage is <u>$10</u>, and the equilibrium quantity of labor is <u>450 thousand workers</u>.
If a Senator introduces a minimum hourly wage, this is considered a <u>Price Floor. </u>
Price floors are prices that that the government mandates that one cannot charge below for a good or service. If there is a price floor on cake for instance, a person is not allowed to charge less than that price floor for cake. The Senator's bill is therefore saying that people should not be paid less than $6 an hour.
Answer:
Companies have a corporate social responsibility towards their environment.
Explanation:
Corporate social responsibility implies that companies are expected to engage in industrial practices that would not result in harm to their environment. For example, the amount of carbon being released into the environment must be controlled as excessive release of carbon can be detrimental to health. It is also not right for waste to be discharged into the oceans because the health of the sea animals, the ocean itself and those who swim in it are at risk.
To promote sustainability, companies avoid practices that would eventually harm their environment. Abiding by these practices might take a longer route, but is eventually cost effective and beneficial.
Answer:
A. $720 Unfavorable
B. $840 Unfavorable
C. $1,560 Unfavorable
D. $800 Favorable
E. $30 Unfavorable
F. $790 Unfavorable
Explanation:
The computation of given question is shown below:-
A. Sales = (Budget quantity - Actual quantity) × Budgeted sale price
= ($8.10 - $7.80) × 2,400
= $0.3 × 2,400
= $720 Unfavorable
B. Variable manufacturing = (Actual variable cost - Budgeted variable manufacturing cost) × Budgeted sale price
= ($4.25 - $3.90) × 2,400
= $0.35 × 2,400
= $840 Unfavorable
C. Contribution margin = ((Budgeted sales price - Budgeted variable manufacturing cost) - (Actual sale price - Actual variable cost)) × Budgeted sale price
= (($8.10 - $3.90) - ($7.80 - $4.25)) × 2,400
= $0.65 × 2,400
= $1,560 Unfavorable
D. Fixed manufacturing = Actual fixed manufacturing cost - Budgeted Fixed manufacturing cost
= $1,300 - $2,100
= $800 Favorable
E. Fixed selling and admin cost = Actual selling and administrative costs - Budgeted fixed selling and administrative cost
= $530 - $500
= $30 Unfavorable
F. Net income (loss) = Contribution margin - Fixed manufacturing + Fixed selling and admin cost
= $1,560 - $800 + $30
= $790 Unfavorable
Answer: a. Cheaper
b. Shift production from commodity-type goods to high-value products.;
Begin importing foreign-made parts
Explanation:
1. Japanese products became 22% <u>cheaper</u> than U.S. products.
The US Dollar became 22% stronger than the Japanese Yen meaning that the US Dollar can now buy 22% more Yen than before. If a good is priced in Yen then this means that the USD can buy 22% more of that good than before meaning that the good is 22% cheaper now.
2. Commodity goods are essentially raw or semi processed foods. Because the USD has become stronger, importing these goods instead of producing them would reduce the cost of production if they were to start processing said goods and making them High Value products so this is what they should do.
The USD is now stronger against major trading Partners. Like earlier mentioned, this means that the USD can buy 22% more goods as a result. Companies should therefore import parts that they need because they'll be able to buy 22% more of those parts thereby reducing their cost of Production.
