The materials price variance measures How much we should have paid in materials cost vs, what we actually paid in materials costs How much we should have used in materials vs. what we actually used in materials How much we should have paid our employees vs. what we actually paid the employees How much many hours our employees should have worked vs. the number of hours they actually worked

Q: What are economic costs? Group of answer choices Any contractual obligation that results in a flow…

A: The economic cost is the mix of misfortunes of any merchandise that has a worth joined to them by…

Q: Douglas Fur is a small manufacturer of fake-fur boots in Houston. The following table shows the…

A: The MC is related to AVC and ATC. These costs will fall as long as the marginal cost is less than…

Q: An entrepreneur intends to sell his product for 6.4$ each. The daily cost or expenses can be…

A: Price is 6.4$ each. cost or expenses= x+9.1+.11x^2,

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: To determine the correct option, we need to understand two key concepts: Conversion Cost and…

Q: Fixed cost=20,000$ Variable cost per unit of production=500$ Number of items sold= 1000 price=800$…

A: Revenue is the total receipts collected from the sale of goods and services in the market. Cost is…

Q: 1) The standards for a product call for 2.5 pound. Last month, 30,000 pounds of the raw material…

A: In variance analysis direct material price variance is the difference between the standard cost and…

Q: If a factory is able to use technology to reduce the costs of production, which condition would most…

A: Supply curve is the graphical representation of supply schedule.  Demand curve is the graphical…

Q: The table shows the quantity of gold bars (in thousands) and the extraction cost per gold bar (in…

A: The data regarding the number of gold bars and their extraction is given below. Quantity of Gold…

Q: What do you mean by product variation?

A: # In markets such as oligopoly and monopolistic competition where there is high competition, in such…

Q: 3 Hidden Cost of Capital Does your company charge your division for the capital that it uses? If…

A: Capital's hidden cost These are unforeseen costs that occur when someone makes a transaction.…

Q: Can you answer the statement with it depends:  Manufacturing highly standardised products are…

A:

Q: _____ are the costs of an item in terms of dollar amount.         Non-monetary costs…

A: The question is asking to identify the type of costs that are expressed in terms of a dollar amount.

Q: The global microchip shortage is causing significant price increases for both new and used vehicles…

A: Demand: - Demand is the relationship between the quantity demanded and the price of a good. There is…

Q: Alan buys a basket of apples on sale for $7 before tax.  The sales tax is 12.5%.  What is the…

A: Before the tax sale price of apples = $7 Sale tax = 12.5% The total tax would be 12.5% of $7

Q: A manufacturer of hospital supplies has a uniform annual demand for 500,000 boxes of bandages. It…

A: In this problem, we have the following variables:Annual demand (D) = 500,000 boxesStorage cost per…

Q: Agree or Disagree and Why: One year ago, I loaned a friend $1000 and he just paid me back the whole…

A: Inflation and interest rate: The inflation rate determines the growth rate of a nation's overall…

Q: Rosa’s family grows specific varieties of maize because they prefer them for the tortillas they…

A: Traditional agriculture can be characterized as a crude way of cultivating that includes the serious…

Q: Estimate a quadratic production function where Q= output; L= labour input; K= capital input.

A: In economics, the Cobb-Douglas Production function is the relationship between two or more…

Q: Suppose you have t = 5 hours in total to spend on some projects to make some money. The table below…

A: Marginal revenue refers to the additional revenue gained by selling 1 more unit of output .

Q: Bill is a small farmer. You ask Bill how he decides whether to plant beans or corn. He claims the…

A: Production, in economics and business, alludes to the most common way of changing over inputs or…

Q: Which of these are direct materials Sandpaper and other like kind items of minor cost used in…

A: Direct materials are the physical components that go into a finished product. They are easily…

Q: 1. Find the number of boxes produced each week 2. Find the number of boxes lost during the given…

A: Here total production of boxes is the sum of 2 things 1) Delivered Boxes 2) Lost Boxes

Q: PLANT         OUTPUT (TONS)                CAPITAL ($)               LABOUR (HOURS) 1…

A: Plant Outputs(Tons) Capital($) Labor Hours(Hrs) Q*=lnQ K*=lnK L*=lnL 1 605.3 18891 700.2 6.41 9.85…

Q: homeowner has $1200 to spend on building a fence around a rectangular garden. Three sides of the…

A:

Q: Mang Isko, a fisherman, is paid ₱180.00 for every 1 kilo of fish he catches. If within the day, he…

A: The gross pay of an employee is the money received without considering the cost to it like taxes and…

Q: A business incurs the following costs: • Labor: $125/unit • Materials: $95/unit • Rent:…

A: Total variable cost refers to the addition of all costs that are not constant but vary based on the…

Q: Does Design & build or Management Procurement methods or strategies can improve the system of…

A: Introduction Tradition approach also help in developing new approach because as time goes on…

Q: actual output of the month was 9,000 raw material were used to produce this output. Required: a.…

A: Price variance is the actual unit cost of an item less its standard cost, multiplied by the quantity…

Q: Your product's revenue per unit is $30, and product's cost per unit is $10. If the demand for next…

A: Given information: Per unit revenue (selling price): $30 Per unit cost (variable cost): $10 Demand…

Q: Your boss asks you to calculate the selling price of a good such that the profit margin is 34%. The…

A: Answer to the question is as follows:

Q: We have looked at different methods for calculating the cost of meals (food cost + production cost +…

A: Actual food costs can be used for the calculation of meal costs. A cost-plus pricing strategy can be…

Q: total cost

A: Total Operating Cost (TOC) refers back to the sum of all prices directly associated with the…

Q: The cost for one Lyft ride entails $1 in car upkeep, $1.50 in fuel, $2 in taxes and fees, and $7 in…

A: Note: Since you have posted multiple independent questions in the same request, we will solve the…

Q: If the price is 600, the demand is 30, and the unit cost of a computer per day is 55, the profit is…

A: To solve all the problems, remember the formulasProfit = Total revenue (TR) - total cost (TC)TR =…

Q: Which of the following statements is true as a result of the per-burger tax? Check all that apply.…

A: The per-unit tax would result in the tax on each unit of output produced. As a result, the per unit…

Q: The term for representing the cost of the shopping basket of goods and services of a typical South…

A: In an economy, households are the people who make demand for output and pay for thate output to…