Answer: $17,000
Explanation:
Labour efficiency variance = Standard rate * (Standard hours - Actual hours )
Standard hours:
= Standard labor-hours allowed per unit * Number of units produced in period
= 3 * 15,000
= 45,000 hours
Labor efficiency variance = 17 * (45,000 - 44,000)
= $17,000 Favorable
<em>Favorable because the standard amount is higher than the actual amount. </em>
Answer:
Total Insurance need $166,500
Explanation:
Life insurance [DINK method]
Amount mortgage loan (half) $145,000
Auto loan(half) $7,500
Credit card balance(half) $2,000
Other debts(half) $4,000
Funeral cost $8,000
Total Insurance need $166,500
Answer:
It is true that raising gasoline prices (either by producing less of it, or by adding taxes) would reduce gasoline use. The concept of price elasticity of demand can helps us explain why.
Explanation:
A good can be either elastic or inelastic depending on its price elasticity of demand. A price elasticity of demand of less than 1 is considered inelastic, while a price elasticity of demand higher than 1 is considered elastic.
Elastic goods are those whose quantity demanded falls or rises more than the price. Inelastic goods are those whose quantity demanded falls or rises less than the price.
Gasoline is a inelastic good in the short-term because even with a price hike, most people will still buy gasoline because they need to move around. However, in the long-term, gasoline becomes more elastic because people replace their buy electric cars, or cars that use less fuel, etc.
What this tells us is that raising gasoline prices can reduce gasoline use in the long-term.
A built-in injustice in this measure is that it affects the poor disproportionally. Poor people also need cars to get around, and a rise in the gasoline price means that they have less money for other basic needs.
Answer:
FV= $772
Explanation:
Giving the following information:
Initial investment (PV)= $850
Interest rate (i)= 3.5% = 0.035
Number of periods (n)= 5 years
<u>To calculate the future value (FV), we need to use the following formula:</u>
FV= PV*(1+i)^n
FV= 650*(1.035^5)
FV= $772
Answer: $20000
Explanation:
Since $100,000 is paid for the contract which will provide the use of manufacturing equipment for 5 years, the payment that can be deducted for each of the 5 years will be an equal payment.
Therefore, the payment that X Corp. can deduct in 2018 will be:
= $100,000 / 5
= $20000