The Long-Run Aggregate Supply curve represents the full employment capacity of the economy and depends on the amount of resources available for production and the available technology.
<h3>What is Long-Run Aggregate Supply Curve?</h3>
The Long-Run Aggregate Supply (LRAS) Curve depicts the relationship between price level and real GDP that would exist if all prices, including nominal wages, were completely flexible. Along the LRAS, prices can move, but production cannot since it represents the output of full employment.
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Answer:
Estimated manufacturing overhead rate= $15 per direct labor hour
Explanation:
Giving the following information:
Overhead is allocated to each job based on the number of direct labor hours spent on that job.
The estimated overhead= $61,500.
Estimated direct labor hours= 4,100
To calculate the estimated manufacturing overhead rate we need to use the following formula:
Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Estimated manufacturing overhead rate= 61,500/4,100= $15 per direct tlabor hour
The Consumer Product Safety Commission was established to protect consumers from poor manufacturing and to make sure that products met quality and safety standards.
The answer is Yes because Sylvia will have to pay Sarah for painting the store even though she did not verbally agree to the contract.
<h3>What is a
Contract?</h3>
A Contract is a formal arrangement between two or more party where one promise to perform a duty in return for a consideration (value).
In conclusion, the answer is Yes because Sylvia will have to pay Sarah for painting the store even though she did not verbally agree to the contract.
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Answer:
1a. Predetermined overheard rate is $20.8
1b. Product cost for each product:
Xactive ($) Pathbreaker ($)
<u> 113.72 86.4</u>
Explanation:
1(a)
Predetermined overheard rate is calculated with formula:
<u>Budgeted Cost</u>
Activity Level
For Rocky Mountain:
= <u>$2,687,360</u>
129,200
= $20.8
1 (b) Product cost involves the total cost incurred directly as a result of making a product. Product cost is calculated by adding direct material cost, direct labour cost and manufacturing overheard together.
Product cost
Xactive Pathbreaker
Direct material 65.60 51.80
Direct labour cost 19.00 13.80
Manufacturing overheard($20.8) <u>29.12 20.8</u>
<u>113.72 86.4</u>
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