Answer:
She should continue producing 20 wedding cakes a month.
Explanation:
From the information in the question
Revenue per unit= Total revenue/Units produced
Revenue per unit= 5000/20= $250
We were given the marginal cost as $200
So our revenue per month ($250) is higher than marginal cost ($200)
Yam is making a profit of $50, so she should continue producing 20 cakes per month
Answer: A) Income Summary
Explanation:
The Income Summary account is used to compile temporary accounts before posting them to capital accounts. Revenues, Expenses and Cost of Goods are temporary accounts which will be compiled in the Income summary account.
The Income summary account has a debit and a credit side with income going on the credit side and expenses going on the debit side. If the credit side is higher than the debit side then profits have been made. The reverse is true.
Answer:
Explanation:
The production possibility curve is a graphical illustration and tool used for economic analysis. It shows the various combination of goods that can be produced given available resources.
The PPC looks like a bow shape and has an inverse relationship, this is because this is because to produce 1 more of product A you need tp be willing to let go of 1 unit of product B(assuming we can only manufacture 2 products) this concept is known aa Marginal Rate of Transformation.
Answer:
The HRM (Human Resources Management) function that covers concerns about how to align individual employee's goals with the overall organization's goals is:
Performance management.
Explanation:
In Human Resource Management (HRM), there are various functions dealing with Human resource planning, Recruitment and selection, Performance management, Learning and development, Career planning. The performance management unit ensures that individual employee's goals are aligned with the overall goals of the organization in order to achieve organizational success. The performance management function helps HR managers to establish, agree, and marry the goals of employees with organizational performance expectations.
