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3 years ago

5

Sam gave employees a 5% raise last year and expects to give the same raise this year, even though it will push his company's sal

aries above what is normally paid in the industry. This is an example of the ______ bias.

1 answer:

ANEK [815]3 years ago

4 0

Answer:

anchoring and adjustment

Explanation:

hope it helps. brainliest pls

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Select the incorrect statement regarding relevant costs and revenues. Group of answer choices Sunk costs are never relevant for

raketka [301]

Answer:

The incorrect statement regarding relevant costs and revenues:

To be relevant, a cost or revenue must not be future-oriented and must differ between the alternatives.

Explanation:

For a cost or revenue to be considered as relevant, it must be incurred or earned at a future time. It must also differ between the options available for decision making. A cost or revenue cash flow is relevant if it arises from a management decision and can be avoided. This simply means that if the cost or revenue is not affected by management decision or does not make any difference in decisions, it is not relevant.

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3 years ago

The following direct materials and direct labor data pertain to the operations of Laurel Company for the month of August.

Gekata [30.6K]

Answer:

Results are below.

Explanation:

<u>To calculate the direct material price, quantity, and total variance, we need to use the following formulas:</u>

Direct material price variance= (standard price - actual price)*actual quantity

Direct material price variance= (193 - 190)*1,700

Direct material price variance= $5,100 favorable

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (1,680 - 1,700)*193

Direct material quantity variance= $3,860 unfavorable

Total variance= Direct material price variance +/- Direct material quantity variance

Total variance= 5,100 - 3,860

Total variance= $1,240 favorable

<u>To calculate the direct labor efficiency, rate, and total variance; we need to use the following formulas:</u>

Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate

Direct labor time (efficiency) variance= (4,650 - 4,600)*14.5

Direct labor time (efficiency) variance= $725 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (14.5 - 15)*4,600

Direct labor rate variance= $2,300 unfavorable

Total variance= Direct labor time (efficiency) variance +/- Direct labor rate variance

Total variance= 725 - 2,300

Total variance= $1,575 unfavorable

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3 years ago

The price level in the country is determined by ______ and _______.

Usimov [2.4K]

The answers are supply and demand.

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4 years ago

"Tourism sector has become a good source of earning foreign currency in Nepal"Justify this statement with examples

olchik [2.2K]

Explanation:

Tourism has become one of the main income sources for many developing countries like Nepal. Nepal has great potential to become a top destination for tourists as the nation is famous for its snowcapped mountains, abundant flora and fauna, exciting trekking routes and rich cultural and religious diversity.

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3 years ago

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Is the following statement True, False or Uncertain? Explain your answer. "In the long run, firms will exit the market if price

Ratling [72]

Answer:

True

Explanation:

The purpose of any business is to make profit, which is from the difference between revenues (price of product multiplied number of product sold) with the cost of goods sold (average total cost multiplied number of product sold).

In short, the profit = (price - average total cost) x number of product sold.

Normally the price must be above/ higher than cost, so that the firm can have profit. Sometime the price in the market go down, so the firm have have to adjust down its price also to maintain customer's purchases.

Once its price is down, but the firm's average total cost is still same as previous, the firm can not have profit as previously. The firm may bear this situation as long as its capital capacity allowed, but will not be too long.

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3 years ago

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