The value of item is determined by its utility to the person who is purchasing it. If an item has high utility, then consumers are willing to pay more and will value the product more. If an item has low utility, it will not be very valuable to the person. People value items differently. the old saying that one's man's trash is another's treasure holds true here.
Answer:
<em>Theory of justice
</em>
Explanation:
A Justice Theory is a 1971 work of John Rawls ' political philosophy and ethics, whereby the writer addresses the problem of distributive justice.
The principle uses a revised sort of Kantian philosophy and a variant form of conventional theory of social contracts.
Answer:
C. $34,500
Explanation:
Given the above information, applied fixed overhead is computed as;
= Standard hours allowed for actual production × Predetermined rate
Standard hours allowed for actual production = 11,500
Predetermined rate = $3 per hour
Then,
Applied fixed overhead
= 11,500 hours × $3 per hour
= $34,500
Answer:
$1,901,385
Explanation:
First unit produced by lambda took 5,000 hours to produce and required $30,000 worth of materials and equipment usage.
The second unit took 4,500 hours and used $24,000 worth of materials and equipment usage.
learning rate = time needed to produce second unit / time needed to produce first unit = 4,500 hours / 5,000 hours = 90%
materials and equipment usage rate = $24,000 / $30,000 = 80%
using the attached table of cumulative values, we can determine the cumulative improvement factors needed to solve this question:
Olsan's accumulated cost for producing 20 more guidance controls
-
work hours = 4,500 x 14.61 (90% and 20 units) x $25 per hour = $1,643,625
- materials and equipment = $24,000 x 10.74 (95% and 20 units) = $257,760
- total = $1,901,385