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4 years ago

Since the colonial period, the census has revealed

1 answer:

6 0

Since the colonial period, the census has revealed that people are far more educated and employable, which has directly caused the economy of the US to grow significantly over the past two hundred years.

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Steel mill wage costs increase by 18 percent over a year. What is the likely economic effect on the market for steel?

spayn [35]

Answer: See explanation below

Explanation: an increase in the wage costs of steel mills would equate to an increase in the cost of production of steel. This would lead to a corresponding increase in the price of steel as the supply curve moves to the left. If costs go up (wages), less would be produced, sellers are less inclined to supply the same quantity at the current price and this is what shifts it to the left.

6 0

3 years ago

Given the following data for Harder Company, compute cost of goods manufactured:

Slav-nsk [51]

Answer: Cost of goods manufactured = $520000

Explanation:

Given that,

Direct materials used = $120,000

Beginning work in process = $20,000

Direct labor = $200,000

Ending work in process = $10,000

Manufacturing overhead = $180,000

Beginning finished goods = $25,000

Operating expenses = $175,000

Ending finished goods = $15,000

∴ Cost of goods manufactured = Direct materials used + Beginning work in process + Direct labor - Ending work in process + Manufacturing overhead + Beginning finished goods - Ending finished goods

= $120,000 + $20,000 + $200,000 - $10,000 + $180,000 + $25,000 - $15,000

= $520000

7 0

3 years ago

It is always a good idea to bring along extra

prohojiy [21]

Answer:

In my personal opinion A would ve the best answer

Explanation:

what if you have two job interveiws and the first one wants to for sure keep it

7 0

4 years ago

Read 2 more answers

We have an intuitive appreciation for those who are able to earn a profit. We can see that resources flow to those who successfu

mr_godi [17]

Let's start it this way. Since a market system is a system of profit and loss, naturally, both profit or loss will play a vital role in the equation or system. Capitalist economies depend on markets when it comes to their economic activities. The market's role is to serve as a basis for them in determining what profitable activities and enterprises should the people invest on.Without the presence of loss in the equation of a market system, these people will not be able to determine where they should invest and/or withdraw from. Therefore, people base their decision of using their resources through knowing first the profit and loss. The loss will help them go away from companies or activities which will bring the losses.The downside for using the government in shielding companies from having losses is that the government will be abused by these companies. Since all companies will naturally want to not experience having losses.

8 0

3 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

kkurt [141]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct labor:

Actual labor rate $15 per hour

Standard labor rate $14.50 per hour

Actual hours incurred and used 3,500 hours

Standard hours used 3,550 hours

Direct material:

Actual quantity of materials purchased and used 1,500 tons

Standard quantity of materials used 1,480 tons

Actual materials price $220 per ton

Standard materials price $224 per ton

To calculate the direct labor efficiency and rate variance, we need to use the following formulas:

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (3,550 - 3,500)14.5

Direct labor time (efficiency) variance= $725 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14.5 - 15)*3,500

Direct labor rate variance= $1,750 unfavorable

To calculate the direct material rate and quantity variance, we need to use the following formulas:

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (224 - 220)*1,500

Direct material price variance= $6,000 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,480 - 1,500)*220

Direct material quantity variance= $4,400 unfavorable

4 0

3 years ago