Answer:
Opportunity cost= -$54
Explanation:
Giving the following information:
He could work at his job and earn $8 per hour for three hours, or he could go to an exhibit at the art museum for those three hours. A ticket for the event costs $30.
The opportunity cost is the "cost" of not taking other alternatives.
Opportunity cost= total revenue - economic profit
Opportunity cost= -30 - 24= -$54
Answer:
b) Building support and commitment
Explanation:
In order to support employees and feel the fear of change, it is necessary to build trust and commitment.
Here are some techniques to help the employee:
1. Make your employees feel that their work is important
2. Keep them in constant training
3. Maintain communication with all members of the organization
4. Establishes recognition programs and awards prizes
5. Promotes positive attitudes
6. Be flexible with schedules.
7. Conduct satisfaction surveys
Answer:
$288 (F)
Explanation:
In order to calculate activity variance we subtract actual results from the flexible budget. Moreover, the flexible budget is determined by taken into account both fixed and variable expense of the activity. This is shown below:
Flexible Budget of Selling and Administrative Expense = 25,900 + (2.1 x 5,980) = $38,458
Variance = 38,170 - 38,458 = $288 (F)
Because the actual expense is less than the flexible budget, the variance is favorable (F).
Note: Variable flexible budget is calculated by multiplying the variable rate with the actual units produced.
Entrepreneurship - people who run business and create the business themselves
