Answer:
a service, that will be counted as part of GDP.
Explanation:
Gross domestic product is a sum total of all goods and services produced by a country in a given period.
GDP only measures market transactions that involves a goods or service provider and a consumer.
Mowing your lawn by yourself is not measured as part of GDP since it is non commercial.
However when you hire Larry's Lawn Service and pay them to mow your lawn, this is a GDP item.
Answer:
$792,960
Explanation:
Data provided
Number of pods = 23,600
Direct labor hours = 3
Direct Labor Rate per hour = $11.20
The computation of Budgeted direct labor costs is shown below:-
Budgeted Direct labor Cost = Number of pods × Direct Labor Hours required per pod × Direct Labor Rate per hour
Budgeted Direct labor Cost = 23,600 × 3 × $11.20
= $792,960
Answer:
When demand shocks lead to recessions, it is mainly due to unexpected changes in the:
the inability of government policy to affect demand.
Explanation:
Government has every right to make policies that would strictly affect price, if this is not done and there is inflation of price it would lead to recession.
If a competitive market has three firms with marginal costs of mc1 = q1, mc2 = 0.50q2, and mc3 = 2q3 and faces a market price of $10, the total quantity supplied by all three firms is 35.
Marginal cost is the cost to supply one additional unit of manufacturing. it's far an important idea in cost accounting as marginal price facilitates deciding the most efficient degree of manufacturing for a manufacturing manner. It's far calculated via figuring out what fees are incurred if best one additional unit is manufactured.
In economics, the marginal cost is the exchange within the general value that arises whilst the amount produced is incremented, the fee of manufacturing extra quantity.
Marginal cost is the added price to provide an extra desirable. as instance, say that to make 100 automobile tires, it costs $100. To make one greater tire could value $80. this is then the marginal fee: how lots it expenses to create one additional unit of a great or service. The charges of manufacturing determine the marginal value.
Learn more about marginal cost here brainly.com/question/17230008
#SPJ4
Answer:
$1,160 Favorable
Explanation:
The computation of total controllable cost variance is shown below:-
Budgeted variable cost for 36,000 units = $57,200 × 36,000 ÷ $44,000
= $46,800
Total budgeted cost for 36,000 units = $46,800 + $60,000
= $106,800
Controllable Variance = Actual Overhead - Budgeted Overhead
= $105,640 - $106,800
= $1,160 Favorable
Therefore, for computing the controllable variance we simply deduct the budgeted overhead from actual overhead.