Answer:
The Micro Islands have a comparative advantage in producing botanical soaps.
Explanation:
Comparative advantage can be defined as the ability of an economy to produce a good at lower opportunity cost than other economies. This enables the economy sell the product at lower prices, therefore having higher margin of profit than other economies.
The opportunity cost of Micro Island in producing 300 botanical soaps is the cost of producing 30 bamboo towels. The opportunity cost is quite low.
While for Macro Island the opportunity cost of producing 500 botanical soaps is 250 bamboo towels. The opportunity cost is higher than for Micro Island.
Answer: 4 times
Explanation:
GDP per capita is a way of measuring the wealth Distribution in a country. It is calculated by dividing the Gross Domestic Product by the population of the country. The aim usually is to see if the Country's economy is big enough considering the amount of people it has.
Country C has a GDP per capita of,
= 10,000/500
= $20
Country D has a GDP per capita of,
= 10,000/2,000
= $5
= 20/5
= 4
Country C has a GDP per capita that is 4 times that of C.
Answer:
The cost assigned to Job 7 at the end of the week is 5,700 dollars.
Explanation:
In job order costing the cost that is to be assign to a specific order is sum of actual direct material cost and actual labour cost require to perform that job. Factory overheads are also added to the job cost on the basis of allocation method (on basis of budgeted applied OH rate).
So Following costs will be assign to Job 7.
RAW materail = $ 700
Labor Cost = $ 3000
Overhead = $ 2000 (10* 20)
Total Cost = $ 5700
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