The marginal product of the fourth worker is 150 bushels of wheat.
<h3>What is the marginal product?</h3>
Marginal product is the change in the total product of labour when labour is increased by one unit.
Marginal product = change in output / change in labour
change in output = 1300 - 1000 = 300
change in labour = 4 - 2 = 2
300 / 2 = 150
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You receive a tax refund from the IRS if your tax liability is less than the tax you paid for a fiscal year. This means that the tax you owe is less than what you paid for your taxes. Another circumstance is when you are entitled to tax credits
Complete Question:
Pribuss Engineering prepares its financial statements according to International Financial Reporting Standards. During 2018, the company incurred the following costs related to a new product design:
Research for New Design $2.4M
DVMPT of New Product $1.3M
Patent Filing Fees $52K
The development costs were incurred after technological and commercial feasibility was established and after the future economic benefits were deemed probable. The project was successfully completed and the new product was patented before the end of the 2018 fiscal year. What amount should Pribuss expense in its 2018 income statement related to the above expenditures?
Answer:
The Research expenses of $2.4M that are written as expense in the Income statement and the Development costs of $1.3M and patent legal fees of $53k are capitalized.
Explanation:
The reason is that the International Standard IAS 38 Intangible Assets says that the expenditure incurred on the research that hasn't entered development phase must be written as expense in the year and the expenditure incurred on the development phase of the research outcomes must be capitalized to the extent it is ready for use. In this case $1.3M is clearly a development cost and patent legal fees of $53k is the expenditure that will prepare the asset and making it ready for use, so it must also be capitalized.
Considering the scenerio about Judy and Amy are having lunch together and decide to split the bill equally. In this case, Amy is less price sensitive when sharing the cost.
What is price sensitivity?
Price sensitivity can be regarded as the degree to which demand changes as result if the changes in cost of a product or service changes.
It should be noted that Price sensitivity helps in measuring price elasticity of demand.
- And this rule implies that some consumers will refuse to pay more incase there there us availability of lower-priced option.
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Answer:
A. Enlist support and involvement of organization personnel while communicating a consistent message
Explanation:
The PIO (public information officer) is responsible for managing communications with the media, public and other agencies regarding information on incidents. The PIO coordiantes information between the incident commander and the staffs and between the emergency operations center. The communication and coordinating of information internally is important because it allows for organization personnel involvement and leads to dissemination of a consistent information
