Answer:
10% of exam score
Explanation:
Opportunity Cost is the cost of next best alternative, foregone (sacrifised) while making a choice.
Example : If a person has option to have an apple or an orange, & choses to have apple. The opportunity cost of having an apple is the sacrifised orange.
Given : A night before mid time exam, spent while watching movies - later lead to fall in exam grade from 70 % to 60%
The opportunity cost of movies watched, is the sacrifised grade of exam, which would have gotten, if the time would have spent in studying. The corresponding grade lost = 70% grade achievable - 60% grade achieved. Hence, the opportunity cost = 10% of exam score.
Answer:
$1,720
Explanation:
Total annual premium for both Karen and Mike = $400 + $600 = $1,000
If they insured both cars with the same company, they would save 15% on the annual premiums -> the annual saving = 15% * $1,000 = $150
We use formula FV to calculate the future value of annual payment:
= FV(rate, number of payment, - payment) = FV(3%,10,-150) = $1,720
The critical thinking process includes the deep thinking process which involves deep insights into the assessment so that both the drawbacks and the benefits of the assessment process can be made easily. In addition to this, the critical thinking process helps the assessors to critically evaluate the students in order to identify their drawbacks and skills so that proper feedback to be given to them in order to cultivate the best values within the students. Thus critical thinking process helps in the best assessment process.
Critical thinking is the analysis and judgment of available facts, evidence, observations, and arguments. The subject is complicated. There are several different definitions, which generally involve a reasonable, skeptical, and unbiased analysis or evaluation of factual evidence. Critical thinking is self-directed, self-disciplined, self-monitoring, and self-correcting thinking. This means accepting strict quality standards and consciously mastering their application. It includes effective communication and problem-solving skills, as well as a commitment to overcome native egocentrism and sociocentrism.
Critical thinking is the active and skillful conceptualization, application, analysis, synthesis, and synthesis of information gathered or generated from observation, experience, reflection, reasoning, or communication as a guide to beliefs and actions. It is an intellectually trained process of evaluating and/or evaluating.
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Answer:
<u>Equivalent Units Materials 10400 </u>
<u> Equivalent Units Conversion 10960 </u>
<u>Cost Per Equivalent Unit Materials $9.8365 </u>
<u>Cost Per Equivalent Unit D. Labor $ 7.2810 </u>
<u>Cost Per Equivalent Unit FOH $ 2.2992</u>
Explanation:
Particulars Units % of Completion Equivalent Units
Materials Conversion Materials Conversion
Complete 12000 100 100 12000 12000
Add EWIP 2000 100 20 2000 400
<u>Less BWIP 3600 100 40 3600 1440 </u>
<u>Equivalent Units 10400 10960 </u><u> </u>
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<em><u>In FIFO as the name suggests we take out the units first completed. So we deduct the Beginning Work in Process (BWIP) from the sum of completed units and ending work in process (EWIP).</u></em>
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Costs added during period: Direct materials Direct labor Factory overhead
(10,400 at $9.8365)
102,300 79,800 25,200
<u>Equivalent Unit 10400 10960 10960</u>
<u>Cost Per Equivalent Unit $9.8365 7.2810 2.2992</u>
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They spend on labor 5625. based on the given situations.
Exertions fee ought to be around 20 to 35% of gross income. slicing hard work costs is a balancing act. locating methods to streamline labor costs is rooted in reducing costs without sacrificing personnel morale or productivity.
Hints from White-Hutchinson enjoyment and studying consulting institution say that restaurant labor costs ought to be available in at much less than 30% of sales, and food and exertions costs ought to be less than 60% of the revenue.
The labor-to-revenue ratio is a monetary analysis device that compares the amount of cash a business enterprise spends on its employees to the quantity of cash it makes in net sales. Dividing hard work value via net sales for a given duration yields this ratio. Multiplying the result through 100 converts it to a percentage.
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