Economics conditions, political stability and balance of payments 3
Descriptive analytics is best described with a report that includes charts and graphs explaining the data.
<h3>What Is Descriptive Analytics?</h3>
The interpretation of historical data through descriptive analytics helps to better comprehend changes that have taken place in a firm. The process of using a variety of historical data to make comparisons is known as descriptive analytics.
In contrast to the complicated calculations required for predictive and prescriptive analytics, descriptive analytics typically uses simple math and statistical methods, such as arithmetic, averages, and percent changes. Since results are presented using visual tools like line graphs, pie, and bar charts, descriptive analytics may - and should - be easily comprehended by a broad corporate audience.
Therefore, a report with charts and graphs illuminating the data is the best way to describe descriptive analytics.
To know more about prescriptive analytics refer to: brainly.com/question/14392964
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Proration occurs because it is impossible to accurately estimate the future overhead costs and production activity; it is either the overhead is over applied or under applied. The variance will have to be adjusted for at the end of the financial year.
Answer:
The overhead application rate was: $0.20 per direct labor cost
Explanation:
The overhead application rate is used to apportion the factory overheads to jobs or departments
The overhead application rate = Budgeted Overheads / Budgeted Activity
= $6,000/$30,000
= $0.20 per direct labor cost
Answer:
The opportunity cost of producing the 201st good is more than 5Y.
Explanation:
Opportunity cost is defined as the cost of next best alternative forgone. The law of increasing cost states that as production increases, the opportunity cost does as well.
So the opportunity cost of 201st unit will be more than the opportunity cost of 101st unit which is 5Y.
