Answer:
Option A,$4,200 is the correct option to the question
Explanation:
The fixed manufacturing overhead budget for the month is the difference between budgeted fixed manufacturing overhead cost and actual fixed manufacturing overhead cost for the month as shown by the computation below:
Fixed manufacturing overhead budget variance =$52,000-$56,200=-$4,200
The variance is an unfavorable since the actual overhead cost of $56,200 outweighs the budgeted cost of $52,000,hence the correct option is A
Answer:
1. Point on x-axis will increase and so will the point on the y-axis
2. All of the above
Explanation:
1. The Production Possibilities Frontier shows the amount of resources needed to produce different quantities of two goods. It therefore allows one to see the trade-off in resources for producing more of one good vs the other.
When a factor of production leads to more efficiency in the production of a good, the frontier will increase. In this scenario, there has been a growth in technology which means that more of both goods can be produced. This will increase the PPF on both axis. (Refer to attached file).
2. All of the listed options have led to increases in the standard of living in the last century. More education means people can get better jobs and build more infrastructure. International trade has increased market access and increased wealth. Farm productivity is better so more people can be fed and improvement in technology is the main driver for growth.
REALITIES
Losing money and working long hours are realities for an entrepreneur.
Starting a business is very challenging. You must be financially sound and very brave to overcome obstacles that may stop you from being successful as an entrepreneur.
That is why business proposal and studies are done to see whether starting up a business is a good and profitable idea in any given environmental factors.
Answer:
C. equilibrium quantity and price to fall.
Explanation:
Equilibrium of price is the intersection of demand and supply curve at a price, which mean quantity demanded is equal to quantity demanded. There is shift in demand or supply curve due change in various factor, like price, income, customer´s preference, technologies etc. If market reachs below equilibrium price then there will be higher demand and low supply in the market. Shift in demand and supply curve lead to increase or decrease in equilibrium price and quantity. If demand curve shift downward, which means there is decrease in quanity demanded and supply does not change, which lead both equilibrium price and quantity to fall.
Answer:
Standard cost per hour= $3.75 per hour
Explanation:
Giving the following information:
It requires 2 hours of labor to produce 1 unit of final product. In February, Queen Industries produced 12,000 units. The standard cost for labor allowed for the output was $90,000.
We need to determine the standard cost per hour.
Number of hours= 12,000*24,000
Standard cost per hour= 90,000/24,000= $3.75 per hour
