Answer:
it has grown substantially
Explanation:
in the past, China's government has total control over other economy. They failed to run it efficiently since the system provide no incentives for people to work harder and invents new things.
In the 1980s, china started to adopted some aspect of Capitalism and let the private sector grow their influence in the economy.
As a result, many people start to have incentives to contribute more to the economy. This system basically allowed the citizens seek personal wealth for themselves, but they are indirectly improving the country's economy.
Answer:
$30.39 per machine hour
Explanation:
Giannitti corporation has an estimated machine hours of 36,000
The estimated variable manufacturing overhead is $3.01 per machine hour
The estimated total fixed manufacturing overhead is $1,058,040
The first step is to calculate the the predetermined overhead rate
= 36,000 + 3.01 + 1,058,040
= $1,094,043.01
Therefore the predetermined overhead rate can be calculated as follows
= 1,094,043.01/36,000
= $30.39 per machine hour
Hence the predetermined overhead rate for the recently completed year is closest to $30.39 per machine hour
