Answer:
multiplying the number of physical units by the percentage of completion.
Explanation:
Project management can be defined as the process of designing, planning, developing, leading and execution of a project plan or activities using a set of skills, tools, knowledge, techniques and experience to achieve the set goals and objectives of creating a unique product or service. Generally, projects are considered to be temporary because they usually have a start-time and an end-time to complete, execute or implement the project plan.
The fundamentals of Project Management includes;
1. Project initiation
2. Project planning
3. Project execution
4. Monitoring and controlling of the project
5. Adapting and closure of project.
It is very important and essential that project managers in various organizations, businesses and professions adopt the aforementioned fundamentals in order to successfully achieve their aim, objectives and goals set for a project.
An equivalent unit is calculated by multiplying the number of physical units by the percentage of completion.
Answer:
Budgeted Operating expense= $505,375
Explanation:
Giving the following information:
Operating Expenses Variable Operating Costs $.75 per unit sold
Fixed Operating Costs $475,000
Other Info: Units sold in 2016 40,500
To determine the budgeted operating expense, we need to use the following formula:
Operating expense= total fixed operating expense + total variable operating expense
Operating expense= 475,000 + 0.75*40,500= $505,375
Answer:
a.) To combat recession the federal reserve board can adopt <u>expansionary monetary policy.</u> The fed can<u> reduce the cash reserve ratio</u>.
b.) The aggregate output and price is going to increase in short run. In the long run though economy will be operating at equilibrium level.
Explanation:
With the decline in the cash reserve ratio the total reserves with the banks will increase. This will boost credit credit creation. As the money supply in the economy increases the aggregate demand will increase. This will further lead to increase in price and output level.
In the medium term, the aggregate supply will also increase though not as much as demand, so there will be excess of demand. The price level will rise further.
In the long run though output will always be at the equilibrium level.
Answer:
Option (c) is correct.
Option (d) is correct.
Explanation:
1. Under the market structure of natural monopoly, its cost of production states that initially there is a need of large amount of investment and after that the marginal cost of producing output becoming so low that the average total cost keeps on falling until the point at which whole market being served.
2. Municipal Power Light, the local supplier of electricity is an example of natural monopoly. In this type service, there is a need of large amount of investment in setting the cables infrastructure and grid and after that the marginal cost of providing each additional unit of electricity is so low that the average total cost keeps on falling which is represented by the downward sloping average total cost curve.
Answer:
an increase in operating income of $ 40,000.
Explanation:
Consider the Savings and Costs that arise with the outsource decision.
Note : Fixed Costs are incurred whether or not outsource decision is made ( unavoidable) and are therefore irrelevant for this decision.
Savings :
Variable Costs ( 400,000 × $1.30) 520,000
Costs :
Purchase Price ( 400,000 × $1.20) (480,000)
Effect : Net Income / (loss) 40,000
If the Company decides to outsource there will be an increase in operating income of $ 40,000.
