Answer:
The overhead applied and the under- or over application of overhead for the period is $2,375,000 and $95,000 respectively
Explanation:
The computation of the overhead applied and the under- or over application of overhead for the period is shown below:
Overhead applied = (Estimated annual overhead cost ÷ Estimated machine hours) × Actual machine hours
= ($2,500,000 ÷ 100,000 machine hours) × 95,000 machine hours
= $2,375,000
So, the over applied overhead = Actual annual overhead cost - Overhead applied
= $2,470,000 - $2,375,000
= $95,000
The value of the VMP are 600, 570, 540, 510, 480, 450. The total workers to be hired are 4 workers because MRL > wage.
<h3>How to solve for the VMP</h3>
= MP * selling price
- 20 * 30 = 600
- 19 * 30 = 570
- 18 * 30 = 540
- 17 * 30 = 510
- 16 * 30 = 480
- 15 * 30 = 450
This has been computed in the excel file that I have attached to the question.
2. A competitive firm is going to have to hire when the wage is equal to MRPL or MRPL is greater than the wage
based on this the labor of the firm would be at 4 units.
3. Four workers are going to be hired based on the fact that the marginal revenue of the added labor is more than the wage that was paid for the work done.
Read more on marginal revenue here:
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The correct descriptions are matched with their account types below:
Basic Checking account - Does not earn interest and has a low minimum balance
Interest-Bearing Checking account - Pays higher interest than a savings account
Savings account - Earns interest and allows unlimited atm use
Money Market deposit account - Restricts access to funds through withdrawals
Answer:
The correct answer is option iii and option iv.
Explanation:
Frictional unemployment refers to the situation where unemployment is caused because of the shift from one job to the other.
In the first option, the unemployment is being caused because of recession. This is an example of cyclical unemployment.
In the second option, the unemployment caused by relocation is an example of structural unemployment.
In the third and fourth options, the individuals are looking for a job of quitting another. This is an example of frictional unemployment.
Answer:
b.$21,280
Explanation:
beginning : 2,280 x 25%
complete 13,600
1,900 at the end at 20%
equivalent units for conversion:
13,600
-2,280 x 25% = 570
+1,900 x 20% = 380
13410
<em><u>cost per equivalent units:</u></em>
total cost: 120,690 + 26,820 = 147,510
cost per EU: $11
total cost ending WIP
1,900 x $9 = 17,100 materials
1,900 x 20% x $11 = 4,180
Total cost 21,280