Answer:
Patrick Inc.
Direct Labor Budget
For the Coming First Quarter
Direct labor budget:
January February March Total
Total Units to be produced 43,800 41,000 50,250 135050
Direct labor hrs per unit 0.3 0.3 0.3 0.3
Total direct labor hrs 13140 12300 15075 40515
Wage rate $ $ $ $ 18 18 18 18
Direct labor cost $ $ $ $ 236520 221400 271350 729270
Direct labor cost Budget January $ 236520
Direct labor cost Budget February $ 221400
Direct labor cost Budget March $ 271350
Direct labor cost Budget Total $ 729270
Macroenomoc trends best describes what is represented in the business cycle model.
The business cycle, also known as the economic cycle or trade cycle describes the rise and fall in production output of goods and services in an economy. The rise and fall is measured using rise and fall in real – inflation-adjusted – gross domestic product (GDP).
Answer:
Budget deficit / Fiscal deficit
Explanation:
At the start of the year, every government prepares a budget e.g. all sources of revenue (direct taxes, indirect taxes, aids etc) and projected expenses are also mentioned (development of society, defense etc.).
When a government spends more than its revenue from taxes so it means that government is running a budget deficit or a fiscal deficit which are covered through fiscal measures by government e.g. increasing taxes or reducing public spending.
Answer:
A. Dr Cash $705,120
Cr Unearned subscription revenue
B. Dr Unearned subscription revenue $58,760
($705,120 *1/12)
Cr Subscription revenue $58,760
Explanation:
a) Preparation of the entry in November for the receipt of the subscriptions
Dr Cash $705,120
(27,120*$26)
Cr Unearned subscription revenue $705,120
(To record the receipt of the subscriptions)
b) Preparation of the adjusting entry at December 31, 2015, to record sales revenue recognized in December 2015
Dr Unearned subscription revenue $58,760
($705,120 *1/12)
Cr Subscription revenue $58,760
(To record sales revenue recognized)
Answer:
The <u>CYCLICAL</u> unemployment rate while Economy X is <u>GROWING IS</u> 0%. The 5% unemployment rate is due to structural and <u>FRICTIONAL</u> factors.
Explanation:
there are basically three types of unemployment:
- Frictional unemployment: voluntary and takes place when someone quits his/her job because they want to find a better job.
- Structural unemployment: is not voluntary and happens when the workers do not possess the required skills to fill vacant jobs.
- Cyclical unemployment: is not voluntary and happens when the economy is contracting and the businesses are forced to lay off workers.
