Answer:
See below
Explanation:
1. Purchase price variance
Standard price per pound = $25
Actual price per pound = $28.9
Quantity of aluminium purchased = Closing inventory + Quantity used - Opening inventory
= 34 + 3,470 - 54
= 3,450 pounds
Purchase price variance = (Standard price - Actual price) × Quantity purchased
= ($25 - $28.9) × 3,450
= -$3.9 × 3,450
= $13,455 (U)
2. Usage variance
Standard quantity of Aluminium for actual production
= 935 units × 4 pounds each
= 3,740 pounds
Usage variance = (Standard quantity of material used - Actual quantity used) × Standard price per unit
= (3,740 - 3,470) × $25
= 270 × $25
= $6,750 (F)
3. Direct labor rate variance
= (Standard rate per hour - Actual rate per hour)
× Actual hours for production
= ($40 - $41.9) × 4,400
= -$1.9 × 4,400
= $8,360 (U)
4. Efficiency variance
Standard hours for actual production
= 935 units × 5 per hour
=4,675 hours
Labor efficiency variance = (Standard hours for actual production - Actual hours for actual production) × Standard rate per hour
= (4,675 - 4,400) × $40
= 275 × $40
= $11,000 (F)
Answer:
D. the money in one's pocket
Explanation:
this is so because the financual assets needed fpr a business to produce good and/or services requires money
the fully allocated cost of a product is $10. If the price elasticity of demand for the product is -2, then the firms optimal markup is 10% 100% 200% or 300.
Demand is said to be relatively elastic if a relatively small change in price is accompanied by a disproportionately large change in quantity demanded. Mathematically, demand is said to be relatively elastic if its elasticity coefficient (that is, the result of the PED formula) is greater than 1.
Elastic demand or supply is when the elasticity is greater than 1, indicating high responsiveness to price changes. Inelastic demand or supply is one with elasticity less than 1, indicating a poor response to price changes.
A product with 0 elasticity is considered completely inelastic because changes in price have no effect on demand.
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C. The decisions made by producers and consumers drive all economic choices.
Id say its A, because entrepreneurs start a business to make a profit.