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3 years ago

Which of the following would result from low labor demand and high labor supply?

Business

1 answer:

elena-14-01-66 [18.8K]3 years ago

7 0

Answer:

B. Wages decline

Explanation:

Labor is subject to the laws of supply and demand, just like other commodities in the market. Low labor demand means there are only a few job opportunities available. The unemployment rate will be high. The economy will be having too many people without jobs.

An increase in the supply of labor implies more people coming to the job market. The Job market will experience a surplus in labor supply, which will lead to reduced wages. There will be too many jobless people chasing few job opportunities. Employers will consider the lowest labor cost, while desperate job seekers will be willing to accept low wage rates.

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Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4.9 pound

Stella [2.4K]

Answer:

Childress Company

Orders for K1 should be filled first.

Orders for G9 should be filled second.

Orders for S5 should be filled third.

Explanation:

a) Data and Calculations:

K1 S5 G9

Direct materials per unit (pounds) 4.9 2.4 5.4

Materials available for production = 58,400

Selling price $ 167.40 $ 99.28 $ 210.02

Variable costs 89.00 76.00 149.00

Contribution margin per unit $ 78.40 $ 23.28 $ 61.02

Contribution margin per pound $16 $9.70 $11.30

Orders for K1 should be filled first

Orders for G9 should be filled second

Orders for S5 should be filled third.

b) This order filling sequence will maximize the contribution margin per pound, ensuring the highest efficient use of the limited materials available for production.

3 0

2 years ago

Aarp expects agents offering aarp-branded products to demonstrate five key behaviors when interacting with customers. Aarp wants

Andre45 [30]

Answer: Effortless and inspiring

Explanation:

3 0

2 years ago

Peking Palace Company reported the following: Standard quantity per unit 3 lbs. Standard price per pound $2.75 Actual pounds use

SCORPION-xisa [38]

Answer:

$577.5 favorable

Explanation:

Data provided in the question:

Standard quantity per unit 3 lbs

Standard price per pound = $2.75

Actual pounds used = 15,000 lbs

Actual price per pound = $2.90

Number of units produced = 5,070

Now,

The direct materials quantity variance is given as;

= | ( Actual quantity - Standard quantity ) | × Standard price

= ( 15,000 lbs - {Standard quantity per unit × units produced}) × $2.75

= ( 15,000 lbs - { 3 × 5,070}) × $2.75

= | ( 15,000 lbs - 15,210 ) | × $2.75

= $577.5

Since,

Standard quantity is higher than the actual quantity

thus,

$577.5 favorable

7 0

3 years ago

Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in cu

Masteriza [31]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Estimates:

Direct labor-hours required to support estimated output 18,000.

Fixed overhead costs $ 198,000.

Variable overhead cost per direct labor-hour $ 1.00

A) overhead rate= (fixed + variable cost)/direct labor hour

Overhead rate= (198000 + 1*18000)/18000= 12

B) Direct materials $ 719

Direct labor cost $ 177

Direct labor-hours used 7

Manufacturing overhead= $1* 7= $7

8 0

3 years ago

For the year ended December 31, Year 1, Fields Company made cash payments of $61,600 for dividends, paid interest of $30,400, pa

Yanka [14]

Answer:

D. $77,600

Explanation:

The $77,600 made to purchase equipment would be reported as a cash outflow in the investing activities section. This is because asset purchased such as equipment is an investment while the cash used to purchase the asset is regarded as cash outflow.

Dividends are recorded in the financing section, while cash paid for interest and paid to suppliers would be recorded in the operating activities.

4 0

3 years ago