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Crank
3 years ago
15

MC Qu. 17 Tower Company planned to produce 3,000 units... Tower Company planned to produce 3,000 units of its single product, Ti

tactium, during November. The standards for one unit of Titactium specify six pounds of materials at $0.30 per pound. Actual production in November was 3,100 units of Titactium. There was an unfavorable materials price variance of $380 and a favorable materials quantity variance of $120. Based on these variances, one could conclude that: Multiple Choice the actual usage of materials was less than the standard allowed. more materials were purchased than were used. more materials were used than were purchased. the actual cost per pound for materials was less than the standard cost per pound.
Business
1 answer:
zmey [24]3 years ago
3 0

Answer:

From the list of options, Option A is the only correct one:

"the actual usage of materials was less than the standard allowed".

Explanation:

<em>Material usage variance</em>

A material usage variance occurs when the standard quantity required to active a particular level of production is higher or lower than than the actual actual quantity used. A favorable variance would mean than less quantity of materials were used than the standard to achieve a given output level. And an adverse variance would mean the opposite.

<em>Material price variance</em>

A material price variance occurs where materials are purchased at a price either lower or higher than the standard price. A favorable variance is recorded where the actual total cost of materials is lower that the standard cost. While an adverse variance implies the opposite.

From the list of options, Option A is the only correct one

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Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th
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Answer:

ELASTIC

DECREASING PRICE

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise

4 0
3 years ago
In the simple Keynesian model, Multiple Choice Inflation becomes a problem only if demand increases at full employment. Inflatio
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Answer:

In the simple Keynesian model, inflation becomes a problem only if demand increases at full employment.

Explanation:

In the Keynesian view, price inflation is mainly the result of relative changes in supply and demand, which lead to price changes. Changes in the money supply have no direct influence here. According to this school, the money supply is the result of money creation by the banking system; but this plays only a limited role in the process.

In this vision, a distinction is made between:

- Demand inflation: Inflation occurs when the aggregated demand for goods and services increases, with an initially constant supply.

-Cost inflation: Inflation occurs if there is a sudden decrease in supply when demand remains the same.

7 0
3 years ago
Hamilton believed that, together, his funding and assumption programs would A) gain the monetary and political support of the ri
ICE Princess25 [194]

Answer:

A) gain the monetary and political support of the rich for the federal government.

Explanation:

Hamilton theory was based on supporting the upper class of the citizens. This was to support government as the upper class would do business or great level, and that these citizens when will be given money for there business as debt to be paid back to government, will work harder and will help achieve the economy its targets.

This entire scheme/ strategy will help the federal government to gain success, and achieve a state of better financial viability in the entire economy.

With more opportunities and efforts the economy will better off automatically.

3 0
3 years ago
Cleaverland purchased 100% of Omaha on January 1, 2019 for $650,000. On that date, Omaha's stockholders' equity was $650,000, an
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Answer:

$960,000

Explanation:

The balance in equity investment made by Cleaverland in Omaha as at December 31, 2020 shall be determined using the following method:

Purchased price of Cleaverland as at January 1, 2019    $650,000

Net income for the year 2019                                            $150,000

Net income for the year 2020                                           $190,000

Less: Dividend paid by Omaha to Cleaverland                ($30,000)

Balance as at December 31, 2020                                   $960,000

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3 years ago
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7 0
3 years ago
Read 2 more answers
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