Answer:
1. The GDP deflator for this year is calculated by dividing the <u>value of all goods and services produced in the economy this year</u> using <u>this year's prices </u>by the <u>value of all goods and services produced in the economy this year </u>using <u>the base year's prices</u> and multiplying by 100.
This is why the formula for the GDP deflator is = GDP by year n prices/ GDP by base year prices.
2. However, the CPI reflects only the prices of all goods and services<u> bought by consumers. </u>
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3. Which does an increase in the price of a Chinese-made car that is popular among U.S. consumers show up in? - <em><u>B) CPI</u></em>
The Chinese-made car is not made in the US and is included in the basket of goods consumers buy which is used to calculate calculate CPI.
4. Which does a decrease in the price of a Treewood Equipment feller buncher, which is a commercial forestry machine that cuts and stacks trees show up in? - <em><u>A) GDP Deflator</u></em>
This is not part of the goods in the basket and it is assumed to be made domestically so it is part of the GDP Deflator.
Answer:
a. $3.13 per unit
b. No
c Yes
Explanation:
The computation is shown below
a. Fixed overhead per unit is
= Fixed overhead ÷ Number of units manufactured
= $363,000 ÷ 116,000 units
= $3.13 per unit
b. The cost calculation is not appropriate because the fixed overhead per unit is not be involved while calculating the cost
c. Now the acceptance of the offer should be based on total relevant cost which is
Total relevant cost
= $6.1 + $6.1 + $8.1
= $20.3
Since the offer is accepted because total relevant cost is less than the offered purchase price i.e $24.50
The owner of a business invested $5,000 in the business. Total assets and liabilities increase on the fundamental accounting equation.
<h3>What are assets ?</h3>
Financial accounting classifies as an asset any resource that a business or other economic organization owns or manages. Anything that has the potential to provide positive economic value qualifies. The ownership value that can be turned into cash is represented by assets.
<h3>What are liability ?</h3>
A liability is defined in financial accounting as the future economic advantages that an entity must forgo for other entities as a result of previous transactions or other previous events.
<h3>Difference between asset and liability </h3>
Any possessions that could possibly result in future financial gain are considered a company's assets. Your debts to other people are called liabilities.
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Answer:
Answer for the question:
Prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Round "Direct labor time per unit (hours)" and "Direct labor cost per hour" answers to 2 decimal places.)
is explained in the attachment.
Explanation:
Answer:
b. It is likely that variables other than the price and quantity of cars demanded were
changing.
Explanation:
The law of demand states that the higher the price of a good, the lower the quantity demanded and the lower the price of a good, the higher the quantity demanded.
If price of cars was increasing and the quantity demanded also was increasing, it indicates other variables were changing. For example, if income was increasing at the time, the demand for cars would increase if cars are normal goods.
I hope my answer helps you
