Upward and downward changes in aggregate economic activity, as measured by GDP, are called Business cycles.
<h3>What is
Business cycles?</h3>
Business cycles can be regarded as the cyclical upswings as well as the downswings that is been used in in the broad measures of economic activity.
Therefore, Business cycles is Upward and downward changes in aggregate economic activity, as measured by GDP.
Learn more about Business cycles at:
brainly.com/question/22560632
#SPJ1
Answer:
The balance in the Work in Process inventory at the month end is $60
Explanation:
Work in Progress : It is a sum of direct material, direct labor and overhead expense. It shows how much percentage of work is left in the company. The work part left in the company is called work in progress.
For computing the Job 3 work in progress, the calculation part is shown below.
= Direct material + Direct labor + overhead expense
= $30 + $10 + 200% × 10
= $30 + $10 + $20
=$60
Hence, the balance in the Work in Process inventory at the month end is $60
