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Triss [41]
4 years ago
13

Exercise 11-11 (Video) Manufacturing overhead data for the production of Product H by Shakira Company, assuming the company uses

a standard cost system, are as follows. Overhead incurred for 54,500 actual direct labor hours worked $331,500 Overhead rate (variable $5; fixed $1) at normal capacity of 56,400 direct labor hours $6 Standard hours allowed for work done 55,650 Compute the total overhead variance.
Business
1 answer:
Vaselesa [24]4 years ago
3 0

Answer:

$2,400 Favorable

Explanation:

Total overhead variance = Actual overhead - Budgeted overhead

Actual overhead $331,500

Budgeted overhead

($55,650×$6) $333,900

Hence:

$331,500-$333,900

=$2,400 Favorable

Therefore the total overhead variance will be $2,400 Favorable

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To test their theories, economists usually have to:____.
Vanyuwa [196]

Answer:

Confront theories predictions with evidence

Explanation:

To test economic theories, economists would observe real behavior and test it with data from the real world. Which would in turn provide evidence based on what is being tested. Confronting theories predictions with evidence is a pointer to the fact that economic theories are verifiable and their validity can be tested.

6 0
3 years ago
If demand increased by 100 units at each price level, and the government set a price ceiling of $40, then there will be
mel-nik [20]

Answer:

no surplus or shortage

Explanation:

Equilibrium price is the price at which quantity demand equal quantity supplied. Above equilibrium price there is a surplus - quantity supplied exceeds quantity demanded.

Below equilibrium price there is a shortage - quantity demanded exceeds quantity supplied

If demamd increases by 100, new equilibrium is 40

Thus, ceiling price equal equilibrium

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price.

Effects of a binding price ceiling

It leads to shortages

it leads to the development of black markets

it prevents producers from raising price beyond a certain price

It lowers the price consumers pay for a product. This increases consumer surplus

4 0
3 years ago
You are working as a communication specialist for BMW which is releasing a new luxury car in March 2021. BMW have already carrie
Ray Of Light [21]

Answer:

Here is the answer!

Explanation:

You are working as a communication specialist for BMW which is releasing a new luxury car in March 2021. BMW have already carried out a market survey and have already determined the price of the product and the targeted audience.

You are working as a communication specialist for BMW which is releasing a new luxury car in March 2021. BMW have already carried out a market survey and have already determined the price of the product and the targeted audience. Now that your company have to start a sale campaign, you have been asked to elaborate with your team the communication strategy for conducting this campaign during spring and summer (From March to August). Write your strategy in almost five pages

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3 years ago
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7 0
4 years ago
Read 2 more answers
What is the estimated economic profit in this example if the farmer plants watermelon on 500 acres??
Rzqust [24]

The economic profit is calculated by,

Economic Profit = Total Revenue (TR) – ( Explicit Cost + Implicit Cost)

Total Revenue= 500 acre  $6400 = $3200000

Explicit Cost (Cost of land , Labor , capital) per acre = Machinery Ownership costs + Land Charge + overheads = 155+120+350 = $625

Explicit Cost for 500 acres = 500 acres  $625 = $ 312500

Implicit Costs are not given

Economic Profit =  $3200000 - $ 312500 = $ 2887500

Hence the economic profit is  $ 2887500.

<h3>Describe Economic Profit?</h3>

The difference between the revenue generated by the sale of an output and the prices of all inputs used, as well as all opportunity costs, is known as an economic profit. Possibility expenses and explicit costs are subtracted from earned revenues to establish economic profit. Economic profit is necessary because it helps examine an industry's financial and economic progress.

To learn more about Economic Profit, visit

Visit; brainly.com/question/7539101

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3 0
2 years ago
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