Answer:
$ 13.17
Explanation:
Data provided :
Material cost in the beginning = $ 126,000
Additional material cost = $ 32,000
thus,
the total material cost = $ 126,000 + $ 32,000 = $ 158,000
Units in the work in progress = 12,000 units
Therefore, the material cost per unit for July = (Total material cost) / (Units being produced)
on substituting the values in the above relation, we get
he material cost per unit for July = ( $ 158,000 ) / ( 12,000 units )
= $ 13.1667 ≈ $ 13.17
This should NOT be considered when setting a current budget
Future income
Explanation:
Future income can be anticipated but never factored in.
This is because the economy is not only controlled by economic policy or statistics that anticipate growth but outside influences too.
For example, despite the productive growth in the recent time there will be decrease in incomes throughout the world this year.
This is because of the recent crisis that was not foreseen at all.
Thus policy making must not see the future as anything granted and must only set up goals for the present and only anticipate what would probably come in the future.
Answer:
Piece rate system
Explanation:
The piece rate system is the system in which the price is paid according to the units make or produced
Since in the question it is mentioned that the Janna sells handmade jewellery and her employees would paid a specific amount for each bracelet and necklace they developed irrespective of the time it takes so this represents the piece rate system
So the same is to be considered
Answer:
The answer is monopolistic competition.
Explanation:
Monopolistic competition refers to a market type where there are several producers who sell the same type of products, but differentiated from one another; thus making their products unable to be substituted for one another. This is the case in the scenario at the question; though there are multiple companies producing natural and artificial flavorings, due to the different in how they taste, each company’s product cannot be substituted with one another’s.
