Answer:
The correct answer is:
$17 trillion.
Explanation:
The Gross Domestic Product or GDP represents the overall market value of all the goods and services a country produces and it measures the size of the economy. The GDP is determined with the following formula:
GDP = C + G + I + NX
where:
- C: private consumption or consumer spending
- G: government spending
- I: businesses' capital spending
- NX: net exports (exports - imports)
In the example:
GDP = $3 trillion + $10 trillion + $4 trillion = $17 trillion
Answer:
the allocated direct manufacturing overhead costs of Job 56 is $25
Explanation:
Overheads in manufacturing process are allocated to jobs or products using cost drivers or surrogates.
<em><u>First Step : Determine the Pre-determined Overhead rate</u></em>
Pre-determined Overhead rate = Budgeted Overheads / Budgeted Activity
= $2,000 / 800
= $ 2.50 per labor hour
<em><u>Step 2 : Determined the Amount of Overhead allocated to Job 56 based on labor hours utilised</u></em>
Overhead for Job 56 = Pre-determined Overhead rate × Hours Used
= $ 2.50 × 10
= $25
Formula for the Real GDP:
RGDP = Quantity in the current year x Price of the output in the base year
The base year should be the 1st year:
RGDP 1 = $300,000, P 1 = $15,000
Q 1st = $300,000 : $15,000 = 20 cars
In the 2nd year we also have: Q 2nd = 20,produced at $16,000 each.
The Nominal GDP = 20 x $16,000 = $320,000 ( market value )
But the Real GDP = 20 x $15,000 = $300,000.
Answer: The real GDP in the year 2 is $300,000.
Answer: b. Matching
Explanation: The matching principle as an accounting practice states that all expenses must be matched in the same accounting period as the revenues they helped to earn. It recognizes revenues and related expenses of firms in the same accounting period. The matching principle helps in the avoidance of misstated earnings for a period.
Therefore the warranty expense note exemplifies Apple's use of the matching principle.
Answer:
C. Evaluate and motivate workers
Explanation:
This is the taks for middle mamagement.
