Answer:
<em>When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.</em>
Explanation:
When manufacturing overhead costs are assigned to production in a process cost system, it means that the business uses absorption costing system.
Absorption costing system is that where units of products and inventories are valued using full cost. Full cost implies that each product would be charged for an amount of the<em> fixed production overhead </em>in addition to the variable cost.
The fixed overhead is charged using a predetermined overhead absorption rate.
Question Completion:
Production outputs
Luxland Leanderland
Chips 10 4
Pretzels 10 8
Total output 20 12
Answer:
Assuming that Luxland and Leanderland specialize and trade in a way that is advantageous for both of them, the number of pretzels that Leanderland can produce will be 16.
Explanation:
a) Data and Calculations:
Specialization Output:
Luxland Leanderland
Chips 20 0
Pretzels 0 16
Total output 20 16
b) While it is acknowledged that Luxland has absolute advantage in the production of both chips and pretzels when compared to Leanderland, the total output for both economies, without specialization, remains 32 units (of both chips and pretzels). When they specialize, Leanderland's output increases to 16 units from 12. This results in total output of 36 units instead of 32 for both economies.
Answer:
A
Explanation:
This is because it allows the respondent indicate the intensity of his or her feelings by using the agree-disagree response continuum position according to the Likert survey rating scale.
Answer:
Check the explanation
Explanation:
The above question is based on a non-linear programming model, to answer this question, there will be a need to determine the optimal order quantities of the three different Ferns with diverse values of annual demand, item cost as well as order cost objective of the non-linear programming model is to minimize the overall annual cost.
Step 1: Setup a spreadsheet on Excel, as shown in the first and second attached images below:
Note: The values of quantities of the three items is kept as 1 to for the calculations of total cost.
The Solver dialogue box will appear. Enter the decision variables, objective function and the constraints, as shown in the third attached image below:
