the diffrence bewteen 2 and one it comes and goes like days
Answer:
1. Machine hours is the Constraints in the given case.
2. Evaluation of Products
Deluxe Regular
Sales Price $1,020 $560
Less: Direct Material $300 $90
Less: Direct Labor $88 $188
Less: Variable Manufacturing $264 $88
Overhead
Less: Variable Operating <u>$111
</u> <u>$65</u>
Expenses
Contribution Margin <u>$257</u> <u>$129
</u>
Contribution Margin as % 292.05% 68.62%
of Direct Labor cost
Conclusion: Hence it is better to produce Deluxe as it gives higher contribution margin as a % of direct labor cost
<u>Workings</u>
Contribution Margin as % of Direct Labor cost
Deluxe = 257/88% = 292.05%
Regular = 129 /188% = 68.62%
Answer:
the relationship between output and the factors of production
Explanation:
A production function is an economic concept used to calculate output according to the combination of inputs (production factors). For example, if a firm uses two factors of production: capital (K) and labor (L), the production function shows how the different combination of capital and labor generates different outputs.
Quantity = Function (K;L)
Q = F (K;L) is the production function.
Companies will seek the combination of production factors that will be able to optimize the production function. In other words, there will be a quantity of capital and labor that will optimize the amount produced at the lowest possible cost.
For example:
Q = F (K; L)
Q = F (1;10) = 20
Q = F (8;2) = 15
Q = F (5;5) = 25
By using 1 amount of capital and 10 labor this fictional company produces 20 units. By combining 8 quantities of capital and 2 labor, the production will be 15. The best combination found was 5 units of each factor, which generated a production of 25.
Note: Each company will have a different production function and the best combination of factors may differ. Some companies are capital intensive, others labor intensive. The big challenge for companies is to find the best combination to optimize production, reducing costs and thus increasing revenue.
Answer:
Acquire other items for collection.
Explanation:
A museum is a building where historical and scientific artifacts are kept. A museum is very important for the preservation of our cultural heritage.
The Pel museum which is a non-profit organisation does not need to make public any form of contribution that is made to an artifact. The amount of money gotten from the sale of these artifacts should be used to acquire other items for collection.
Answer:
B. unique markets
Explanation:
Macroeconomics is concerned with the overall behavior of the economy as a whole. It studies the performance and decision-making processes of the entire economy. Macroeconomics focuses on the aggregate indicators that affect the entire country, such as inflation, unemployment rate, GDP growth rate, and price levels.
From the list provided, macroeconomics will be concerned with global markets, national unemployment, and worldwide inflation. Unique markets are specific to a certain product or industry and will be covered by microeconomics. Microeconomics is the study of how choices made by firms and households affects production and consumption of specific products.