The answer is Job costing. Because Job costing is used for small production of unique products such as yachts.
Answer:
E) Oil imports declined as countries exporting oil reduced supply.
Explanation:
Oil is extremely important for industrialized nations and since Euphrasia is a mixed open economy, we can assume that it is an industrialized nation. Oil has become the most important energy source for more than 60 years and is the raw material for manufacturing plastic.
During the 1970s and early 1980s the American economy was shattered by an increase in the price of foreign oil and a decrease in its domestic production levels. The importance of oil is also why so many modern wars have been fought over oil production and reserves.
Answer:
The correct answer is option d.
Explanation:
The most effective model to understand the effect of change of a variable on other variable is by assuming other factors to be constant. This simplifies the model and helps in easily understanding the relationship between the two variables.
Though the assumption of other things being constant does not apply in the real world, it is still used as otherwise change in other factors would complicate the model. If several factors change it would be difficult to understand the relationship between variables.
Here, to study the effect of change in the price of grapes on the market for wine, it is necessary to assume other factors such as income, consumer preferences, etc to be constant.
Answer:
$367,500
Explanation:
Estimation of the family’s life insurance needs
Using the easy method
Based on the information given we were told that Mark gross salary is $75,000 while is wife
Parveen is a stay-at-home mom this means that we would be using the easy method to estimate the family’s life insurance needs based on Mark gross salary of $75,000 because he is the only one that earn on a monthly basis.
Insurance need =$75,000 x 7 years x 70%
Insurance need = $367,500
Therefore the family’s life insurance needs will be $367,500
