Answer:
Social welfare
Explanation:
The term <u><em>“social welfare”</em></u> does not have a precise definition. Currently, social welfare refers to a wide range of activities and services by volunteers, non-profit organizations and governmental agencies providing help to needy persons unable to care for themselves; activities and resources designed to enhance or promote the well-being of individuals, families and the larger society; and efforts to eliminate or reduce the incidence of social problems
I am guessing culture, because your culture is your tradition and religion which are your beliefs and values.
A. Which Firm will have Higher Profits in a Recession Period ?
During a recession period trade and industries are unsuccessful and there is allot of unemployment. During the period supply in the market and level of output in the company are likely to be low. Robotic automated process seems to be relatively cheap under high production output in a firm. Also the cost of maintenance of machinery is quite high which the firm can`t cater for during the period. In this period human workers are more recommended as the cost of production will be accounted for due to small numbers of employees where the cost of wages and salaries is quite low.
B. Which Firm will have a Higher Profit During a Boom?
During a boom the industry experiences a period of economic success as demand in the market is high. Automated robotics process are machines and carry out their work with allot of efficiency. Compared to human beings they are relatively faster and more efficient. This will will help the industry meet its high level of production target. They also reduce the cost of production as their maintenance cost is low under large scale production. Human workers seem expensive during this period because cost of wages and salaries is subject per-head.
The Firm with a Higher Beta.
The automated robotics firm will have a higher beta this is because the output will be high leading to increased supply and sale for better profitability. The robots will also function as an asset to the firm increasing the net worth to the company.
Answer:
$160 overapplied
Explanation:
Icy Mocha company estimates it's factory overhead costs to be $35,000 and machine hours to be 5,000 for a period of one year.
The actual number of hours worked on job 333 and 334 equals a total of 4,980
The actual factory overhead costs are $34,700
The first step is to calculate the predetermined overhead rate
= Overhead costs/machine hours
= $35,000/5,000
= $7
The amount of either over or underapplied factory costs can be calculated as follows
= predetermined overhead rate×actual number of hours worked
= $7×4,980
= $34,860
The amount is then subtracted from the actual overhead costs
= $34,700-$34860
= -$160
= $160 overapplied
Hence the amount of overapplied factory overhead is $160
