Answer:
C. $9.50 per direct labor-hour
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Total estimated manufacturing overhead equals to
= Total fixed manufacturing overhead cost + Direct labor hours × variable manufacturing overhead per direct labor-hour
= $497,000 + 70,000 × $2.40
= $497,000 + $168,000
= $665,000
And, the direct labor-hours is 70,000
So the rate is equal to
= $665,000 ÷ 70,000
= $9.5 per direct labor-hour
Answer:
Strategy.
Explanation:
The competitive moves and business approaches a company’s management uses to grow the business, stake out a market position, attract and please customers, compete successfully, conduct operations, and achieve organizational objectives are referred to as strategy.
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
An organization's strategy sets the overall direction for its business; it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan.
Basically, for an organization to formulate strategies that are in tandem with its mission, the organization will need to assess internal weaknesses and strengths, know its core competencies, analyze its rivals (competitors) and examine the external environment.
Answer:
The correct answer is letter "B": inefficiencies result when incentives to produce are reduced.
Explanation:
Equity-efficiency tradeoff takes place when attempting to optimize the production efficiency, distribution of wealth is diminished. The concept is always linked to moral philosophy because it implies taking about how people organize themselves in the way to produce and share their goods in a fairly. According to this point of view, when there is not enough motivation to produce inefficiencies arise.
Answer:
- 10%
- (will increase in the short run) but in the long run it will return to the potential output level.
Explanation:
If the money supply is increased by 10%, the inflation rate will also increase by 10%.
In the short run the economy will be able to produce an output which is higher than the potential GDP, but once the inflation rate catches up, both the unemployment rate will increase and the real GDP will return to its potential output level.
