Answer:
Direct, upward sloping
Explanation:
Supply refers to the quantities of goods or services that firms are willing to sell to the markets are a specific price. As per the law of supply, an increase in prices leads to an increase in the quantity supplied. Therefore, the relationship between the price and quantity supplied is direct. Firms prefer to supply more products to the markets at higher prices because they will make more profits.
The supply curve is a graphical presentation of the relationship between price and quantity supplied. The supply curve is upward sloping. It originates from the bottom left corner, showing how quantities vary along the curve at different prices. Quantity supplied increases as the price rise.
Answer: b. $30; $20; $0
Explanation:
<em>Admission prices to Dollywood are $50 for a one-day ticket, $80 for a two-day ticket, and $100 for an annual pass. Based on these prices, the marginal cost of visiting Dollywood the second day is </em><em><u>$30</u></em><em>, the third day is </em><em><u>$20</u></em><em>, and the fourth day is </em><em><u>$0.</u></em>
The marginal cost is the extra cost per day of going to Dollywood.
Second day
Marginal cost = Second day price - First day
= 80 - 50
= $30
Third day
Marginal cost = Third day price - Second day
= 100 - 80
= $20
Fourth Day
Marginal cost = Fourth day price - third day
= 100 - 100
= $0
Interest-bearing checking account.
Answer:
The question is missing information, however the way to approach the required is presented below in the explanation
Explanation:
When calculating variances it's always important to flex the budgeted information to standard form so we're comparing apples with apples. If we use the actual budgeted figures we can distort the variances and comparisons of information may be useless. For instance if we produce 40 units but budgeted was 50 units we need to work out what was the budgeted cost for 40 units and compare that to the actual cost of 40 units. That is what is meant by flexing to the standard form.
A) The fixed overhead spending variance is the difference between the budgeted and actual fixed overhead expense. This is calculated as follows
Actual fixed overhead - Budgeted fixed overhead = Fixed overhead spending variance $
B) The fixed overhead volume variance is calculated as follows;
Budgeted fixed overhead rate – Fixed overhead rate applied to the units (quantity of production)
C) Variable overhead spending variance is calculated as follows;
The variable overhead spending variance is the difference between the actual and budgeted rates of expenditure of the variable overhead.
Actual hours worked x (actual overhead rate - standard overhead rate)
= Variable overhead spending variance
D) Variable overhead efficiency variance is calculated as follows;
The variable overhead efficiency variance is the difference between the actual and budgeted hours worked. The standard variable rate per hour is used for this and must be calculated.
Standard overhead rate x (Actual hours - Standard hours)
Answer: This is an example of a DRILL DOWN report
Explanation:
Drill down means to seek out detailed additional information on a specific subject. It involves clicking on a subject, or link or object to reveal more detail about a particular information.
To drill down through a series of information means you want to get a specific information, it involves accessing information but starting first with the general options before proceeding through the database to get successive ideas on the subject matter. Most times people drill down on an information when they have only the summary, then they will "dig Futher" to get suitable information according to their logic.
