The economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.
<h3>What is utility?</h3>
Utility refers to the amount of satisfaction a consumer derive from the consumption of certain commodities.
It is the importance or value added to a product or service that helps gives the consumer useful information about all products and services.
Hence, the economic term for the want-satisfying ability, or value, that organizations add to goods or services is utility.
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Answer:
The amount of allocated manufacturing overhead costs for August is $47,150
Explanation:
For computing the allocated manufacturing overhead costs, first we have to compute the direct labor hours which is shown below:
= Direct labor cost ÷ per hour rate
= $73,800 ÷ $36
= 2,050 hours
Now the allocated manufacturing overhead costs equals to
= Direct labor hours × Manufacturing overhead rate
= 2,050 hours × $23
= $47,150
Answer:
the domestic price of sugar will increase to $125.
Explanation:
Since the world price of sugar is higher than the domestic price, domestic producers of sugar will export their products in order to earn a higher profit. That will eventually lead to an increase in the equilibrium price from $100 (former equilibrium price) to a higher price equal to the world price ($125).
Answer:
11 years
Explanation:
For computing, the number of years or the account will be fully depleted we need to apply the NPER formula i.e to be shown in the attachment below:
Given that,
Present value = $100,000
Future value = $0
PMT = $12,000
Rate of interest = 5%
The formula is shown below:
= NPER(Rate;PMT;-PV;FV;type)
The present value come in negative
So, after applying the above formula, the number of years in which the account is depleted is 11 years
