Answer:
1. Total cost (TC) in WIP of Job A-1 is $456.00 2. Completed number of units is 2,675. 3. Equivalent unit (EU) of production for conversion is 34,560 units.
The correct answer is B. 6 per hour
Explanation:
The term "arrival rate" refers to the number of customers that arrive at a business during a specific time such as an hour or a day. This is determined by how often customers arrive or the time between arrivals. This concept complements the service rate, which refers to the customers that receive a service during a period of time.
In the case presented, it is known the time between arrivals is 10 minutes, this means it is expected every 10 minutes a new customer arrives. Based on this, each hour the business can expect a total of 6 customers as 60 minutes divided by 10 (time between arrivals) = 6 customers. Thus, the rate of arrival is 6 per hour.
Payment protection insurance (PPI) is an insurance product that enables consumers to ensure repayment of credit if the borrower dies, becomes ill or disabled, loses a job, or faces other circumstances that may prevent them from earning income to service the debt.
When she altered her shopping patterns and buying behavior because of substantial pay raise, it is an example of income effect.
In economics, Income effect explains how their is a <u>change in demand</u> in market caused by of a change in <u>consumer's purchasing power</u> as a result of a <u>change in their real income</u>.
Here, the theory of <u>income effect</u> explains Gall's situation because her increase in pay cut changes her purchasing power, thus, increases her demand for expensive goods.
In conclusion, when she altered her shopping patterns and buying behavior because of substantial pay raise, it is an example of income effect.
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