Answer:
b. 2
Explanation:
Simple interest is calculated using the formula
I = p x r x t
Where p= principal amount
r= interest rate
t= time in years
Mary invested $200, at 5% for three years. She earned a simple interest of;
I= $200 x 5/100 x 3
=$200 x 0.05 x 3
=$30
If John received the same amounts, It means
$30= $300 x 0.05 x t
$30 = $15t
t= $30/$15
t=2
Time is 2 years
<span>Fortunately, this is a simple calculation to compute; use the value of your starting direct materials inventory, your direct materials purchased and your direct materials used to find the ending inventory of direct materials.</span>
Answer:
Potential GDP is:
C. Is the maximum output firms are capable of producing.
Explanation:
Potential gross domestic product (GDP) is defined in the OECD's Economic Outlook publication as the level of output that an economy can produce at a constant inflation rate. Potential output occurs when an economy produces what it can using all of its resources. These resources include technology, equipment, natural resources, and employees. Potential output can also be looked at in terms of supply and demand.
Although an economy can temporarily produce more than its potential level of output, that comes at the cost of rising inflation.
The changes in potential GDP are caused by the increase in quantity of physical or human capital So the larger quantity of physical capital and human capital, the greater is potential GDP.
The difference between actual and potential GDP is that potential GDP is the level of production of goods and services that the economy is capable of if its workforce is fully employed and its capital stock is fully utilized. Actual GDP is the actual output of goods and services. Real potential GDP is the CBO's estimate of the output the economy would produce with a high rate of use of its capital and labor resources. The data is adjusted to remove the effects of inflation.
Answer:
Will increase to $460,000
Explanation:
Palmer Inc. currently produces 110,000 units at the rate of $440,000
Next year they are expected to produce 115,000 units
Since the cost is variable, the total cost can be calculated as
(440,000/110,000) × 115,000
= 4×115,000
= $460,000
Hence the total cost is $460,000
Answer:
Allocated MOH= $92,625
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
<u></u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 97,500 / 3,000
Predetermined manufacturing overhead rate= $32.5 per direct labor hour
<u>Now, we can allocate overhead:</u>
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 32.5*2,850
Allocated MOH= $92,625