Answer:
Total variable costs =$930
Explanation:
Total cost is the sum of total fixed cost and total variable cost. Hence given the average fixed cost , we can work-out the total variable cost.
This is done as follows:
Total fixed costs = average fixed costs × number of units
= $10 × 10= $100.
Total variable costs = Total cost - total fixed cost
= $1,030 - $100
=$930
Total variable costs =$930
Answer:
(B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget).
Explanation:
The master budget is a business approach which includes all the financial budget as well as the expected incoem statement adn balance sheet.
To do so, it wll need to prepare:
- the production budget (using sales budget)
- the purchase budget (using production)
- collection budget (using sales)
- cash budget (using all of the previous budget)
- And then combine all this data to create an income statement and balance sheet for the period.
<u>Answer:</u>
True
<u>Explanation:</u>
Industry specific sites usually consumed/visited by people who has keen interest and caliber in the industry. When posting the jobs on these type of sites, the probability of the company selecting candidates with higher skill set in the related industry tend to get higher as compared to posting it in normal job posting sites. Well you always seek for a person who has better aptitude and better understanding of things. A person belonging from industry will surely be having all these good qualities.
Answer:
Georgeland has an absolute but not a comparative advantage in producing clothing.
Explanation:
Absolute advantage is defined as the ability of a firm to produce higher amounts of a product as a result of use of the same resources with other competitors. It is usually bad a result of more efficient production process.
Comparative advantage is the ability of a firm to produce goods at a lower opportunity cost. Therefore they are able to sell at lower price compared to competitors.
Georgeland can produce 18 units of clothe per year while Alland can produce 16 units per year, so Georgeland has absolute advantage.
In producing clothes Georgeland has opportunity cost of 36 units of food which is higher than that of Alland which is 32 units of food. So Georgeland does not have comparative advantage in producing clothes.
