Compare and contrast how people have historically treated natural resources and how this might change, using your new understanding of scarcity, conservation, and private property.
Answer: In the past people treated natural resources as an infinite source of wealth and commodity. But now that we know that there are physical limits to nonrenewable resources we have taken a new approach to preserve this resources by taking measures like natural resource management. A great example of this would be a private property regime where the resources benefits and duties fall under the owner(s).
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Answer:
The answer is $325
Explanation:
To calculate net working capital for 2019;
Current asset for 2019 minus current Liability for 2019.
Examples of current assets are cash, inventory, accounts receivable
Therefore, net working capital for 2019 is;
$1,370 - $1,045 = $325
Answer:
$14,500 unfavorable variance
Explanation:
the direct labor cost variance is calculated with the following formula:
direct labor variance = total actual labor hours x (actual labor cost per hour - standard cost per hour)
direct labor variance = 1,000 hours x ($48.15 - $34) = $14,500 unfavorable variance
The variance is unfavorable because the actual labor cost is much higher than the estimated labor cost.
