They involve a fixed total price for a well-defined product or service which is true of lump-sum contracts. The correct option is C.
<h3>What is the advantage of a lumpsum contract?</h3>
Lump sum contracts allow for a more straightforward assessment of soil conditions, bidding prices, and pre-construction analysis, making the selection process less time-consuming. Accounting for lump sum contracts is low-intensity, which reduces the contractor's overhead expenses and allows for consistent cash flow.
A lump sum contract, also known as a stipulated sum contract, is one in which the project owner provides explicit specifications for the work and the contractor provides a fixed price for the project.
Thus, the ideal selection is option C.
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When a nation is producing at a point below their production possibilities curve, they are experiencing unemployment (second option).
<h3>What is the production possibilities curve?</h3>
The Production possibilities curve shows the various combination of two goods a nation can produce when all its resources are fully utilised.
Points inside the production possibilities curve means that the nations resources are not being fully utilised. It could also indicate unemployment.
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Answer:
d. $40 F
Explanation:
Calculation to determine what The variable overhead efficiency variance for June is
First step is to calculate the SH
SH = 2,500 units × 0.4 hour per unit
SH= 1,000 hours
Now let calculate the Variable overhead efficiency variance
Using this formula
Variable overhead efficiency variance = (AH - SH) × SR
Let plug in the formula
Variable overhead efficiency variance= (980 hours - 1,000 hours) × $2 per hour= (-20 hours) × $2 per hour
Variable overhead efficiency variance= $40 F
Therefore Variable overhead efficiency variance is $40 F
Proposing silence ,calling for consensus passing the clipboard
Answer:
b. $765000
Explanation:
Depreciation is a non-cash item and as such will not be considered in the computation of the amount to be disbursed in the month.
Given that the company pays for 70% of its purchases in the month of purchase and the remaining 30% in the next month for direct materials, it means the company will pay 70% of the material purchase in August and 30% of July's purchase in August.
Hence, The budgeted cash disbursements for August are
= 70% * $530,000 + 30% * $370,000 + $160000 + $73,000 + $50,000
= $765,000