Answer: Technological Unemployment
Explanation: This happens when new technologies do the previous job better than its human counterpart.
Answer:
$529.34 favorable and $1,111 unfavorable
Explanation:
The computation of the direct labor rate variance is shown below:
= Actual Hours × (Actual rate - standard rate)
= 3,781 hours × ($41,066 ÷ 3,781 hours - $11 per hour)
= 3,781 hours × ($10.86 per hour - $11 per hour)
= $529.34 favorable
And, the efficiency variance is
= (Standard hours - Actual hours) × standard rate
where,
Standard hours is
= 18,400 units × 0.2
= 3,680 hours
Actual hours is 3,781 hours
So, the efficiency variance is
= (3,680 hours - 3,781 hours) × $11
= $1,111 unfavorable
<span>This type of price discrimination is group pricing. The people who live in la crosse are all members of the same group, a town. In addition, everyone that is part of the group is getting the same rate. That is why it is group pricing.</span>
Answer:
Bounded Rationality
Explanation:
To begin with, it is essential to understand the concept of departmentalization.
Departmentalization centers on the idea that departments/divisions within an organization are grouped and/or sectioned, using some identified benchmarks. In extension, Departmentalizing, is simply the acts of engaging in departmentalization.
Bounded rationality, is a phenomenon that states that human reasoning and extension, logic could be threatened by a number of constraints. The constraints here could be human, material and physical resources. The implication is that an individual is not in possession of full details and information that could influence or shape his position.
Hence, by departmentalizing, an organization has placed a constraint on the amount of information accessible to that department, under the bigger context of an organization. Thus, the departments' rationality has been bounded and this could ultimately spiral into poor decision making, principally because of lack of detailed information.
Answer:
The value after seven years from now is $231,216.29
Explanation:
The computation of the expected value would be seven years from now is shown below:
Here we use the future value formula i.e. shown below:
Future value = Present value × (1 + interest rate)^number of years
= $188,000 × (1 + 0.03)^7
= $188,000 × (1.03)^7
= $231,216.29
Hence, the value after seven years from now is $231,216.29
