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2 years ago

Accounting systems that use standards for product costs are called budgeted cost systems. True False

Business

1 answer:

Yuri [45]2 years ago

7 0

Answer:

False.

Explanation:

Accounting systems that use standards for product costs are standard cost systems.

In Financial accounting, various business firms or companies use the standard cost systems to determine the variances or differences between the actual (real) cost of goods produced and the estimated cost for the goods that were produced by the company.

Hence, standard cost systems are used by business firms or companies as a strategic tool or technique for the management and control of costs, budget planning, and analyzing cost management performance at a specific period of time.

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Country A had a population of 2,000, of whom 1,300 worked an average of 8 hours a day and had a productivity of 5. Country B had

SpyIntel [72]

Answer:

Country

c. B had the higher level of real GDP and Country A had the higher level of real GDP per person

Explanation:

Country A's population 2,000, worked 1,300 with 8 hours a day with a productivity of 5 = 52,000 units of something produced. GDP per capita = 52,000 / 2,000 = 26 per capita

Country B's population 2,500, worked 1,700 with 8 hours a day with a productivity of 4 = 54,400 units of something produced. GDP per capita = 54,400 / 2,500 = 21.76 per capita

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2 years ago

The fed can increase the federal funds rate by

Stella [2.4K]

The answer is selling Treasury bills, which decreases bank reserves. The government securities that are used in open market processes are Treasury bills, notes or bonds. If the FOMC needs to grow the money supply in the economy it will acquire securities. On the other hand, if the FOMC wants to decrease the money supply, it will vend its securities.

5 0

2 years ago

A researcher measures driving distance from college and weekly cost of gas for a group of commuting college students. What kind

Elena-2011 [213]

Answer:

The correct answer is: a positive correlation.

Explanation:

Correlation can say something about the relationship between variables. It is used to understand:

1. If the relationship is positive or negative

2. The strength of the relationship.

Correlation is a powerful tool that provides vital pieces of information.

In the case of family income and family spending, it is easy to see that both rise or fall together in the same direction. This is called a positive correlation.

In the case of price and demand, the change occurs in the opposite direction, so that the increase in one is accompanied by a decrease in the other. This is known as a negative correlation.

8 0

2 years ago

Read 2 more answers

What does division mean on a job application?

julsineya [31]

It pretty much means it divides the task

6 0

3 years ago

Poskey Corporation uses an activity-based costing system with three activity cost pools. The company has provided the following

MrRa [10]

Answer:

$\left[\begin{array}{cccccc}&Cost&Assembly&Setting Up&Other&Total\\wages&349,000&226,850&69,800&52,350&349,000\\Depreciation&290,000&101,500&58,000&130,500&290,000&Utilities&199,000&29,850&149,250&19,900&199,000&Total&838,000&358,200&277,050&202,750&838,000&\end{array}\right]$

Explanation:

We mulitply each line by the stated percent of each activity

for example

Setting Up % x Utilities= Utilities cost assigned to setting up

199,000x 75% = 149,250

Assembly % Depreciation= Depreciation cost assigned to assembly

35% x 290,000 = 101,500

This process must be done to assign each portion of cost.

6 0

2 years ago