Answer: If there is a major technological advance in the production of a good that causes production costs to fall and the demand for the product is relatively inelastic: As production costs fall, it will cause an increase in supply, therefore the price will fall, but demand as it is inelastic will not increase in the same amount as the price rises.
Answer:
$70,000 overapplied
Explanation:
Raymond manufacturing expected job No 59 to cost $600,000 of overhead , $1,000,000 materials and $400,000 labour
The actual production cost is $590,000
$1,140,000 worth of materials were used and $440,000 labour cost
The first step is to calculate the overhead rate
= expected overhead /expected cost of labor
= $600,000/$400,000
= 1.5
The overhead applied can be calculated as follows
= overhead rate× real cost of labor
= 1.5 × $440,000
= $660,000
Therefore the over applied or underapplied can be calculated as follows
= $660,000-$590,000
= $70,000
Hence the overapplied is $70,000
Answer:
quantity supplied of labor at the sailboat factory will increase.
Explanation:
If it happens that the sailboat manufacturer increases the hourly wage paid to his employees, then the more employees will rush to the sailboat thereby increasing the quantity supplied of labor at the sailboat factory.
Answer:
It will take 2 years and 344 days to cover for the initial investment.
Explanation:
Giving the following information:
Initial investment= $7,000
Cash flow year 1 trough 3= $3,600
<u>The payback period is the time required to cover for the initial investment:</u>
Year 1= 3,600 - 7,000= -3,400
Year 2= 3,600 - 3,400= 200
<u>To be more accurate:</u>
(3,400/3,600)*365= 344
It will take 2 years and 344 days to cover for the initial investment.
Answer:
The correct answer is letter "B", "C" and "D" : Being unfamiliar with the procedure, it was difficult to explain how to file an incident report; Concerning the Mattson account, you should have recommendations ready by next Monday; After opening a second restaurant, she realized that she didn’t really want to be in the food-service industry anymore.
Explanation:
Dangling modifiers attempt to give clarity to a sentence where the subject is not clear. Most of the time, sentences are corrected with dangling modifiers by adding the corresponding pronouns of the actions being committed. Dangling modifiers add clarity to messages mostly in business writing where being professional in all sense of the word is essential.
Therefore, from the exercise, the sentences using dangling modifiers are:
- <em>Being unfamiliar with the procedure, </em><u><em>it</em></u><em> was difficult to explain how to file an incident report.
</em>
- <em>Concerning the Mattson account, </em><u><em>you</em></u><em> should have recommendations ready by next Monday.
</em>
- <em>After opening a second restaurant, </em><u><em>she</em></u><em> realized that she didn’t really want to be in the food-service industry anymore.</em>
