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: (d) Find the profit maximizing price. (e) Find the profit maximizing quantity. (f) Find the profit…

A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost. Total…

Q: External economies can arise due to several factors, EXCEPT a. specialized and concentrated support…

A: External economies of scale are comparable to internal economies of scale, however they apply to an…

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: 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: Montresor Fortunato's PED for amontillado (a pale dry sherry) is known to be 1.78 when price is…

A: PED, price elasticity  of demand is a measure that captures the  responsiveness of a goods quantity…

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: How do people make the decision to purchase Qatar airways tickets? You could talk either about…

A: When people want to or have to travel then they find out how many choices (Road Train or Air) are…

Q: Zevon's cafe has the following costs: $9,000 per month in rent, $4,000 per month in wages, $2,000…

A: Any business is run on the basis of costs and profits. In finance, the accounting profit is the key…

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: Price of Quantity of Total Marginal Utensil Utensils demanded Revenue Revenue $50 100 $45 200 $40…

A: The sum of money that a firm earns without deducting the expenses is called revenue.

Q: Which process would you select if the quantity that is sold is greater than the quantity calculated…

A: Indifference curve: It refers to the curve indicating a blend of two products that give the customer…

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: The 3471 people residing in the state of Oz want their yellow brick road repaved. It could be…

A: Given the following information: Oz population = 3471Nations population = 4996645Cost of standard…

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: At what quantity does a form want to produce to maximize their profits? the quantity where variable…

A: Firms aim to maximize profits because profit serves as a key indicator of a company's financial…

Q: Capacity Utilization Rate is:     A. The total amount of plant and equipment that is actually being…

A: The capacity utilization rate is used by a country's economists to monitor how its industries are…

Q: How will commercial airlines respond to the threat of new $27,500 fines for keeping passengers on…

A: The term shortcoming is a market failure condition in which the unreservedly intersecting market…

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: Retailers O Buy large volumes of products and sell them individually to consumers O Buy large…

A: Depending upon the quantity of goods and services bought and the market where the product will be…

Q: Describe the various cost components that affect the retailgasoline price?

A: Gasoline is one of the many petroleum products which is made by refining crude oil. The price of…

Q: Price per unit of chair is $330 and the output sold is 16 units Calculate Total revenue

A: The information being given is:- Price per unit of chair = $330 Output = 16 units We have to…

Q: b. Calculate the profits (or losses) for this typical firm. per month c. At this market price, will…

A: Firm produces at the point where P=MC since, in perfect competition price is constant and equal to…

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: A customer requests one additional item to be produced by a manufacturer. The manufacturer must…

A: The objective of the question is to identify the economic term that refers to the additional cost…

Q: A household is considering installing solar panels, but they need to understand what they are paying…

A: Average cost(AC) of electricity is the per unit cost of consuming the electricity. It is actually…