Answer: d. both Iris and Daphne will want to purchase Joss's services but Joss will not be willing to undertake the job.
Explanation:
Iris will want Joss's services but they will be unable to afford them as Iris is only willing to pay $500 whereas Joss wants $1,200 for the job.
The same goes for Daphne who is only willing to pay $800.
Both of them will therefore want to hire Joss but will be unable to.
Joss could however charge both of them their willingness to pay and then sum the cash up and give them both the research whilst still making a profit.
Answer:
the amount paid during the year is $16,875
Explanation:
The computation of the amount paid during the year is shown below:
Opening Balance $3,757
Add: Wages expense $15,188
Less: Closing Balance -$2,070
Amount Paid $16,875
Hence, the amount paid during the year is $16,875
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Answer:
b. Production
Explanation:
Global Value Chains have been successful over the years due to most components being produced in the country where<em> it is cheaper to do so</em> and then the final output<em> is integrated in other country</em>.
Thus globalization of production has enabled <em>firms</em> to take advantage of national differences in the cost and quality of factors of production.
Answer:
A competitive price-searcher market is a market where there are low entry or exit barriers, and the suppliers can determine the price of their products. Some economists believe that this type of market is inefficient because the suppliers are not able to sell enough output in order to minimize their average costs. Since the demand is very elastic in price searcher markets, any price change will cause a drastic change in the quantity demanded.
Price searcher markets share a lot of similarities with perfect competition markets, the main difference is that suppliers and consumers are not price takers. This means that any supplier can change their sales output by changing their price, which leads to greater competition.
Answer:
Total overhead cost variance $
Standard fixed overhead cost ($9 x 45,100 hrs) 405,900
Less: Actual fixed overhead cost <u>411,000 </u>
Total overhead cost variance <u> 5,100 (A)</u>
Explanation:
Total overhead variance is the difference between standard fixed overhead cost and actual fixed overhead cost. Standard fixed overhead cost is overhead rate multiplied by actual direct labour hours. Overhead rate is the total of variable overhead and fixed overhead rate ($8 + $1 = $9).
