The opportunity cost of computer chip production is 2.
<h3 /><h3>Definition of opportunity cost.</h3>
Opportunity cost of the next best option that is forgone when one option is chosen over other options. Opportunity cost is also known as implicit cost.
<h3>Calculation of opportunity cost</h3>
In order to determine the opportunity cost divide the number of potato chips by the number of computer chips that can be made.
Opportunity cost = number of potato chips / number of computer chips
50 / 25 = 2
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Answer:
True
Explanation:
When we apply the expectations theory, we assume that there is no risk premium associated to the securities (this theory applies to government securities). If the yield curve is upward sloping (positive slope), it means that the short term yields are expected to increase. The time value of money applies to all securities, including government securities, i.e. $1 today is worth more than $1 tomorrow.
Answer:
Following are the solution to this question:
Explanation:
In point 1:
Date Title post reference Dr. Cr.
30-sep Method work – refining 141 388000
Materials 131 385000
In point 2:
Date Title post reference Dr. Cr.
30-sep Method work – refining 141 141000
Payable Wages 251 141000
In point 3:
Date Title post reference Dr. Cr.
30-sep Method work – refining 141 96800
Factory overhead- refining 151 96800
In part B:
Date Title post reference Dr. Cr.
30-sep Method work – Sifting 142 625600
Method work – refining 141 625600
the under-supply problem associated with free-riders and public goods can be solved by making the good or service more excludable
What is public goods ?
A public good is a good that is both non-excludable and non-rivalrous in economic terms. Users cannot be denied access to or use of such goods for failing to pay for them. Furthermore, use by one person neither prevents nor reduces the availability of others.
A public good is a commodity or service that is made available to all members of a society in economics. These services are typically administered by governments and funded collectively through taxation. Law enforcement, national defense, and the rule of law are examples of public goods.
Defense, lighthouses, streetlamps, and clean air are all examples of public goods. They are all non-exclusive and non-rivalrous in terms of the public good.
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Answer:
$192 will be allocated to the direct labor cost while $8 will be allocated to manufacturing overhead.
Explanation:
Costs relating to idle time are part of the fringe benefits that are related to direct labor and they are parts of the benefits given to workers.
Idle time is the number of time in which workers are idle during the normal working hours or day. Some of the causes of idle time include defective materials, power outage, faulty machine, shortage of raw materials, and among others.
In cost accounting, idle time costs are not included in the direct labor costs but are considered as indirect labor costs. Idle time costs are therefore included in manufacturing overhead cost.
From the question,
Direct labor cost = (Number of hours worked by Robert – Idle hours) × hourly rate
Direct labor cost = (50 - 2) × $4
= 48 × $4
= $192
Idle time cost = Idle time × hourly rate
= 2 × $4
= $8
Total cost = Direct labor cost + Idle time cost
= $192 + $8
= $200
Since idle time cost is considered as indirect labor cost and to be included in manufacturing overhead cost, $192 will be allocated to the direct labor cost while $8 will be allocated to manufacturing overhead.
All the best.
