Problems and Applications Q4 Suppose that the government imposes a tax on heating oil. True or False: The deadweight loss from this tax would likely be larger in the fifth year after it is imposed than in the first year as demand for heating oil becomes more elastic. True False The tax revenue collected from a tax on heating oil is likely to be in the first year after it is imposed than in the fifth year.

Answers

Answer 1

Answer:

TrueTrue

Explanation:

The deadweight loss in the fifth year will indeed be higher in the fifth year than in the first because deadweight loss has been shown to increase with elasticity.

As demand becomes more elastic as a result of the oil becoming more expensive, tax revenue will decrease in future which means that tax revenue will be less in five years than in the first.


Related Questions

During its first year of operations, Riverbed Corp had these transactions pertaining to its common stock. Jan. 10 Issued 26,300 shares for cash at $4 per share. July 1 Issued 56,500 shares for cash at $7 per share. (a) Journalize the transactions, assuming that the common stock has a par value of $4 per share. (b) Journalize the transactions, assuming that the common stock is no-par with a stated value of $1 per share.

Answers

Answer and Explanation:

The journal entries are shown below:

1.

On Jan.10

Cash (26,300 shares × $4) $105,200  

         To Common stock     $105,200

(Being the issuance of the common stock for cash is recorded)

On July 1

Cash (56,500 shares × $7)  $395,500  

        To Common stock (56,500 shares × $4) $226,000

        To Paid-in Capital in Excess of Par Value $169,500

(Being the issuance of the common stock for cash is recorded)

2.

On Jan.10

Cash (26,300 shares × $4)  $105,200  

      To Common stock (26,300 shares × $1)  $26,300

      To Paid-in Capital in Excess of Stated Value $78,900

(Being the issuance of the common stock for cash is recorded)

On July 1

Cash (56,500 shares × $7) $395,500  

        To Common stock  (56,500 shares × $1)  $56,500

        To Paid-in Capital in Excess of Stated Value $339,000

(Being the issuance of the common stock for cash is recorded)

The following is a TRUE statement about inventory within a continuous review system: A. When holding costs increase, Economic Order Quantity decreases B. When service level decreases, Economic Order Quantity decreases C. When demand increases, Economic Order Quantity decreases D. When ordering or setup costs increase, Economic Order Quantity decreases E. When holding costs decrease, Economic Order Quantity decreases

Answers

Answer:

A. When holding costs increase, Economic Order Quantity decreases

Explanation:

The answer will be attain through the following illustration

Suppose,  Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50

Economic Order Quantity = √2 * 1000 Units * $10 / $0.50

Economic Order Quantity = √40000

Economic Order Quantity= 200 units

Assume, there is increase of holding cost to $1.50

Economic Order Quantity = √2 * 1000 Units * $10 / $1.50

Economic Order Quantity = √13333

Economic Order Quantity = 116 unit

Therefore, when holding costs increase, Economic Order Quantity decreases.

Inventory is termed as the stock of the goods and services available for the consumption of the consumers or the customers. It is referred as the management of the goods and services as per the demand of the customers in the market.  

The true statement about inventory within a continuous review system is A. When holding costs increase, Economic Order Quantity decreases.

This can be illustrated with the specific example as below:

Let,  Demand = 1000 units, Ordering cost = $10, Holding cost = $0.50

Economic Order Quantity = [tex]\sqrt{2} \times 1000 \:Units \times\frac{\$10 }{\$0.50}[/tex]

Economic Order Quantity = √40000

Economic Order Quantity= 200 units

Assume that there has been an increase in holding cost to $1.50

Economic Order Quantity = [tex]\sqrt[]{2} \times 1000 \:Units \times\frac{ \$10}{ \$1.50}[/tex]

Economic Order Quantity = √13333

Economic Order Quantity = 116 units

Therefore, when holding costs increase, Economic Order Quantity decreases.

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Two alternatives, code-named X and Y, are under consideration at Afalava Corporation. Costs associated with the alternatives are listed below. Alternative X Alternative Y Materials costs........ $37,000 $37,000 Processing costs...... $38,000 $53,000 Equipment rental.... $12,000 $26,000 Occupancy costs...... $16,000 $26,000 Are the materials costs and processing costs relevant in the choice between alternatives X and Y

Answers

Answer:

Only materials costs are relevant

Explanation:

Here in the given situation, the processing cost is only relevant and considered this represents that it helps to make the decisions.

While on the other hand, the material cost is not relevant but it would be continue for each alternative course of action

Therefore the first option is correct

The same is to be considered

What are the "flows" within a supply chain, and why are they important?

Answers

Answer:

Supply chain management is the coordination, management and strategy that drives the flow of data, information, resources and materials to deliver the best product and service to all stakeholders in the process of converting raw goods to a salable product and delivering it to the ultimate customer. There are three main flows of supply chain management: the product flow, the information flow, and the finances flow. The product flow involves the movement of goods from a supplier to a customer. This supply chain management flow also concerns customer returns and service needs.

Explanation:

Sandhill, Inc., is launching a new store in a shopping mall in Houston. The annual revenue of the store depends on the weather conditions in the summer in Houston. The annual revenue will be $252,000 in a sizzling summer, with a probability of 0.3, $61,000 in a cool summer with a probability of 0.2, and $170,500 in a normal summer with a probability of 0.5.
What is the expected annual revenue for the store?Expected annual revenue= $

Answers

Answer:

$173,050

Explanation:

Expected revenue = 0.3*$252,000 + 0.2*$61,000 + 0.5*$170,500

Expected revenue = $75600 + $12200 + $85250

Expected revenue = $173,050

So, the expected annual revenue for the store is $173,050

Interest rates on a loan provide what key information?

A. Information about the additional money you will have to pay back to the lender.
B. Information about the credit history of the lender.
C. Information about the length of the loan.
D. Information about the total payment due each month.

Answers

Answer:

d

Explanation:

i just took the test my gee

A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called:
a. a cost center
b. a profit center
c. an operating center
d. an investment center

Answers

Answer:

d. an investment center

Explanation:

The investment center is the center that has the department manager responsibility towards cost, revenues, and the assets for the particular department.

Mainly the divisional manager responsible for the revenue and the cost

In addition to this, they also make the decisions which investment should be considered that contains high returns

Therefore the option d is correct

garcia company has 11,600 units of its product that were produced last year at a total cost of $174,000. the units were damaged in a rainstorm because the warehouse where they were stored developed a leak in the roof. garcia can sell the units as is for $2 each or it can repair the units at a total cost of $19,600 and then sell them for $5 each. calculate the incremental net income if the units are repaired

Answers

Answer:

If the company repairs the units, income will increase by $15,200.

Explanation:

Giving the following information:

Units= 11,600

Garcia can sell the units as is for $2 each or, it can repair the units at a total cost of $19,600 and then sell them for $5 each.

We will not take into account the original cost of production because they remain constant in both options.

Sell as-is:

Effect on income= 11,600*2= $23,200

Repair:

Effect on income= 11,600*5 - 19,600= $38,400

If the company repairs the units, income will increase by $15,200.

A public franchise is a right granted Group of answer choices to one firm by another firm; for example, McDonald's Corporation grants restaurant owners a franchise to make its hamburgers. to a firm by government that prevents other firms from producing the same product or service. to a cooperative of buyers that allows the group to purchase goods at wholesale prices. by government that enables a person to engage in arbitrage.

Answers

Answer: to a firm by government that prevents other firms from producing the same product or service

Explanation:

A public franchise is a right granted to a firm by government that prevents other firms from producing the same product or service.

This is done by the government in a situation whereby the government doesn't want a competition for the firm or doesn't want other firms to sell that particular good.

For example, if a particular firm comes up with a drug that can cure HIV/AIDS, the government may grant such firm a public franchise.

Rorry Company uses a job cost system. Overhead was applied to production using a rate of 78 percent of direct labor costs. What is the journal entry when direct labor costs are $18,000

Answers

Answer:

Dr Work in Process Inventory for $14,040

Cr Manufacturing Overhead for $14,040

Explanation:

Based on the information given we were told that the company applied Overhead to production using a rate of 78% of direct labor costs which means that the journal entry when direct labor costs are the amount of $18,000 will be :

Dr Work in Process Inventory for $14,040

Cr Manufacturing Overhead for $14,040

(78%*18,000)

Diego Garcia is 32 years old. Diego earned $112,000 in 2020 while employed as a financial analyst. The combined CPP and El deduction during 2020 totaled
$3,754. Of this amount, $166 was the CPP enhanced contribution. The following information was also provided pertaining to the 2020 taxation year:
a) Diego enrolled in part-time studies at the local university, paying tuition fees of $1,500.
b) Diego donated $2,000 to a registered charity for tax purposes, and $800 to a federal political party.
c) During the year, a total of $4,500 was spent on eyeglasses, dental care, and prescriptions, and none of this amount was reimbursed.
d) Diego's spouse did not work during 2020 while attending full-time post-secondary classes which cost $8,000 in tuition. The maximum allowed amount was
transferred to Diego for 2020 tax purposes. Diego's spouse had no other income during the year.
e) Diego ha a $2,000 non-capital loss from 2019.
f) The couple does not have any children.
Required:
A. Calculate Diego's taxable income for 2020.
B. Calculate Diego's federal tax liability for 2020.


If someone knows this.. please help​

Answers

Answer:

the answer is A

Explanation:

RJ Corporation has provided the following information about one of its inventory items:
Date Transaction
1/1 Beginning Inventory
6/6 Purchase
9/10 Purchase
11/15 Purchase
During the year, RJ sold 3,000 units.
Number of Units 400 800 800 1,200 800
Cost per Unit $3,200 $3,600 $4,000 $4,200
What was ending inventory using the LIFO cost flow assumption under a periodic inventory system?
a. $880,000.
b. $640,000
c. $770,000.
d. $840,000

Answers

Answer:

b. $640,000

Explanation:

The computation of the ending inventory using the periodic inventory system is as follows:

But before that the ending inventory units is

= Beginning inventory units + purchased units - sold units

= 400 + 800 + 1,200 + 800 - 3,000

= 200 units

Now the ending inventory is

= 200 units × $3,200

= $640,000

hence, the ending inventory using the periodic inventory system is $640,000

Therefore the correct option is B

The airline companies often change their flight prices over time. Assume Mary is planning her trip to New York City during the Christmas holiday. When she first checked the price in September, the ticket price was $300 round trip per person. However, when she checked the price again in early December, she noticed the price increased to $600 round trip per person for the same flight. This is an example of _______________.

Answers

Answer:

Third degree price discrimination

Explanation:

Price discrimination is when the same product is sold at different prices to customers in different markets

types of price discrimination

1. first degree price discrimination : here sellers charge each consumer at their willingness to pay in order to eliminate consumer surplus.

2. second degree price discrimination : here firms offer different prices depending on the quantity purchased. e.g. giving discounts for bulk purchases.

3, third degree price discrimination : firms charge different prices to different groups of customers. e.g. having a certain price for senior citizens, students

Brief Exercise 169 On December 1, Maisins Furniture Corporation borrowed $10,000 on a 90-day, 6% note. Prepare the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note. (Credit account titles are automatically indented wh the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.)

Answers

Answer:

1. Dr Cash $ 10,000

Cr Notes Payable $ 10,000

2. Dr Interest Expense $75

Cr Interest Payable $75

3. Dr Notes Payable $ 10,000

Dr Interest Expense $ 225

Dr Interest Payable $ 75

Cr Cash $ 10,300

Explanation:

Preparation of the entries to record the issuance of the note, the accrual of interest at year end, and the payment of the note

1. Preparation of the entries to record the issuance of the note

Dr Cash $ 10,000

Cr Notes Payable $ 10,000

(Being record of issuance of the note )

2. Preparation of the entries to record the accrual of interest

Dr Interest Expense $75

($10,000*9%*30 days/360 days)

Cr Interest Payable $75

(Being Interest accrued for 30 days)

3. Preparation of the entries to record the payment of the note

Dr Notes Payable $ $10,000

Dr Interest Expense $ 225 ($10,000*9%*90 days/360days)

Dr Interest Payable $ 75

($10,000*9%*30 days/360 days)

Cr Cash $ 10,300

($10,000+$225+$75)

(Being to record payment of the note)

Which factor would influence the premiums of health insurance?
A.) Building Size
B.) Deductible
C.) Elimination Period
D.) Profession

Answers

Answer:

B.) Deductible

Explanation:

A deductible is an amount that the insured must pay himself/herself before the insurance company starts paying his/her medical expenses. E.g. if your deductible is $1,000, before your medical expenses are paid by your insurance company, you will have to pay the $1,000 yourself.

The higher the deductible, the lower the insurance premium. This applies to every single type of insurance policy where deductibles might apply.

Answer:

deductible

Explanation:

Sheffield Company originally issued 5400 shares of $10 par value common stock for $162000 ($30 per share). Sheffield subsequently purchases 530 shares of treasury stock for $26 per share and resells the 530 shares of treasury stock for $31 per share. In the entry to record the sale of the treasury stock, there will be a:______.
a. credit to Paid-In Capital from Treasury Stock for $2650.
b. credit to Common Stock for $13780.
c. credit to Treasury Stock for $5300.
d. debit to Paid-In Capital in Excess of Par of $15900.

Answers

Answer:

a. credit to Paid-In Capital from Treasury Stock for $2650.

Explanation:

the complete journal entries required to record the 3 operations:

Dr Cash 162,000

    Cr Common stock 54,000

    Cr Additional paid in capital 108,000

Dr Treasury stock 13,780

    Cr Cash 13,780

Dr Cash 16,430

    Cr Treasury stock 13,780

    Cr Additional paid in capital 2,650

ABC Company and XYZ Company entered into a nonmonetary exchange lacking commercial substance. In the exchange, ABC gave XYZ a building with a book value of $90,000 ($150,000 cost - $60,000 accumulated depreciation) and a fair value of $125,000 in exchange for $25,000 and an XYZ building with a book value of $80,000 ($95,000 cost - $15,000 accumulated depreciation) and a fair value of $100,000. Prepare the journal entry to record the exchange in ABC's and XYZ's books.

Answers

Answer:

New Building Acquired at Carrying Amount  $90,000 (debit)

Accumulated Depreciation on Building given up $60,000 (debit)

Cost of Building given up $150,000 (credit)

Explanation:

Where the exchange transaction lacks commercial substance, the asset that is acquired is measured at the carrying amount (Cost less Accumulated Depreciation) of the asset given up, and no gain or loss cannot be estimated reliably.

The Building with Carrying Amount of $90,000 ($150,000 cost - $60,000 accumulated depreciation).

Thus the Journal will be :

New Building Acquired at Carrying Amount  $90,000 (debit)

Accumulated Depreciation on Building given up $60,000 (debit)

Cost of Building given up $150,000 (credit)

QS 23-11 Selection of sales mix LO P3 Excel Memory Company can sell all units of computer memory X and Y that it can produce, but it has limited production capacity. It can produce two units of X per hour or three units of Y per hour, and it has 4,700 production hours available. Contribution margin is $6 for product X and $5 for product Y. 1. Calculate contribution margin per production hour. 2. What is the most profitable sales mix for this Company

Answers

Answer:

Contribution margin per production hour

Product X = $12

Product Y = $15

Explanation:

Part 1

Contribution margin per production hour

Contribution margin per production hour = Contribution ÷ Time to produce one product

Therefore,

Product X =  $6 ÷ 0.5

                 = $12

Product Y =  $5 ÷ 0.33

                 = $15

Part 2

The Demand Units of Product X and Product Y are missing so the calculation of profitable sales mix is impossible.

This mix would have been calculated by :

Manufacturing all the units of Product Y since Y has the highest contribution margin per production hour (demand for Y × hours required per unit)With the remainder of hours out of 4,700 after producing all of Product Y demand, we would then produce Product X.

Excerpts from Sydner Corporation's most recent balance sheet appear below: Year 2Year 1 Current assets: Cash$ 142$ 161 Accounts receivable, net212232 Inventory244203 Prepaid expenses1111 Total current assets$ 609$ 607 Total current liabilities$ 364$ 335 Sales on account in Year 2 amounted to $1,415 and the cost of goods sold was $915. The current ratio at the end of Year 2 is closest to:

Answers

Answer: 1.67

Explanation:

Current ratio is calculated by dividing the Current Assets by Current liabilities and measures to what extent current assets can be used to cover current liabilities if need be.

Current Liabilities year 2= Current Assets/ Current Liabilities

= 609/364

= 1.67

Consider the three theories of the upward slope of the short-run aggregate-supply curve. According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too . True or False: According to the sticky-price theory, the economy is in a recession because people expect prices to rise quickly in a recession. True False According to the misperceptions theory, the economy is in a recession when the price level is what was expected.

Answers

Answer:

According to the sticky-wage theory, the economy is in a recession because the price level has declined so that real wages are too

⇒HIGH. According to this theory, the increase of real wages will result in lower production levels and lower employment.

According to the sticky-price theory, the economy is in a recession because people expect prices to rise quickly in a recession.

⇒TRUE. The sticky price theory is based on the concept that prices will not change quickly enough to adjust to a new optimal equilibrium level.

According to the misperceptions theory, the economy is in a recession when the price level is what was expected.

⇒FALSE. According to this theory if the price level decreases, suppliers will reduce output levels resulting in a recession.

Rachel's Designs has 1,900 shares of 6%, $50 par value cumulative preferred stock issued at the beginning of 2019. All remaining shares are common stock. Due to cash flow difficulties, the company was not able to pay dividends in 2019 or 2020. The company plans to pay total dividends of $19,000 in 2021. How much of the $19,000 dividend will be paid to preferred stockholders and how much will be paid to common stockholders

Answers

Answer:

Preferred Dividend = $17,100Common Dividend = $1,900

Explanation:

Cumulative preferred stockholders will always have their dividends paid to them eventually because the dividends will accrue for years where they went unpaid.

This means that in 2021 they will be paid their dividends for the years 2019, 2020 and 2021.

Yearly preferred dividend = 1,900 * 6% * 50

= $5,700

Preferred dividends in 2021 = 5,700 * 3

= $17,100

Common stockholders would get = 19,000 - 17,100

= $1,900

The following are budgeted data: January February March Sales in units 16,000 22,000 19,000 Production in units 19,000 20,000 18,500 One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 25% of the following month's production needs. Purchases of raw materials for February would be budgeted to be: Multiple Choice 20,375 pounds 18,375 pounds 19,625 pounds 20,125 pounds

Answers

Answer:

Purchases= 19,625 pounds

Explanation:

Giving the following information:

Production in units:

February= 20,000

March= 18,500

The inventory of materials at the end of each month should equal 25% of the following month's production needs.

To calculate the purchases of raw materials, we need to use the following formula:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 20,000 + (18,500*0.25) - (20,000*0.25)

Purchases= 19,625 pounds

can a country expereince economic growth without economic develooment ?​

Answers


It is possible to have economic growth without development. For example, an increase in GDP, but most people don't see any actual improvements in living standards.

The Bildge Trust is a simple trust. Crawford is its sole beneficiary. In the current year, the trust earns $11,025 in taxable interest and $27,563 in tax-exempt interest. In addition, the trust recognizes a $1,575 long-term capital gain. The trustee charges a fee of $6,891 for the year.
a. Compute trust accounting income, where the trust agreement allocates fees andcapital gains to corpus.
b. Same as (a), except that fees are allocated to income.

Answers

Answer:

b

Explanation:

Rock Bottom Gold Company recently repurchased 7 million shares of its common stock for $47 per share. The intent of the repurchase was to increase earnings per share to be more in line with competitors. Required: 1. Determine the impact of the stock repurchase on assets, liabilities, and stockholders' equity. (Enter your answers in whole dollars not in millions (i.e., 1,000,000 not 1.0). Negative amounts should be indicated by a minus sign.)

Answers

The impact includes Assets = -$32,90,00,000, Liabilities = No Effect and Stockholder's Equity = -$32,90,00,000.

If the stock is repurchased, the cash will be paid. Thus, the assets would be decreased.

Also for the stock repurchase, the stockholder's equity will be decreased consequently.

Assets = Cash (7,000,000*$47)

Assets = -$329,000,000

Thus, the assets will decrease by $329,000,000.

Liabilities = No Effect

Thus, the liabilities will have no impact for the transaction.

Stockholder's Equity = -$329,000,000

Thus, the stockholder's equity will be decreased by $329,000,000.

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During the most recent month, the following activity was recorded: Twenty thousand pounds of material were purchased at a cost of $2.35 per pound. All of the material purchased was used to produce 4,000 units of Zoom. 750 hours of direct labor time were recorded at a total labor cost of $14,925. Required: 1. Compute the materials price and quantity variances for the month. 2. Compute the labor rate and efficiency variances for the month.

Answers

Answer: See explanation

Explanation:

The following can be derived from the question:

Actual quantity = 20,000 pounds

Actual price = $2.35

Standard price = $2.50 per unit

Actual hours = 750 hours.

The standard quantity will be calculated as:

= 4,000 units × 4.6

= 18,400 pounds

The Actual rate will be calculated as:

= Total labor cost / Actual hours

= $14,925 / 750

= $19.90

Standard hours will be:

= 0.2 hours × 4,000 units

= 800 hours.

Standard rate = $18 per hour

1. Compute the materials price and quantity variances for the month.

Material price variance:

= (AQ × AP) - (AQ × SP)

= (20,000 × $2.35) - (20,000 × $2.50)

= 47000 - 50000

= -3000

Material quantity variance:

= (AQ × SP) - (SQ × SP)

= (20,000 × $2.50) - (18,400 × $2.50)

= 50,000 - 46000

= 4000

2. Compute the labor rate and efficiency variances for the month.

Labor rate variance:

= (AH × AR) - (AH × SR)

= ($750 × $19.90) - (750 × $18)

= 14925 - 13500

= 1425

Labor efficiency variance:

= (AH × SR) - (SH × SR)

= (750 × $18) - (800 × $18)

= 13500 - 14400

= 900

Billie Bob purchased a used camera (five-year property) for use in his sole proprietorship in the prior year. The basis of the camera was $2,400. Billie Bob used the camera in his business 60 percent of the time during the first year. During the second year, Billie Bob used the camera 40 percent for business use. Calculate Billie Bob's depreciation deduction during the second year, assuming the sole proprietorship had a loss during the year.

Answers

Answer:

Billie Bob

Depreciation deduction during the second year is:

$192.

Explanation:

a) Data and Calculations:

Property basis value = $2,400

Useful life = 5 years

Depreciable rate per year = $2,400/5 = $480

Depreciation deduction during the second year = $480 * 40% = $192

b) The depreciation deduction for year 2 is limited to the 40% business use.  This implies that Billie Bob cannot claim the 100% depreciation of $480 for the property since he could only use it 40% for his business.

Aikman, Inc., manufactures and sells two products: Product O6 and Product O7.Data concerning the expected production of each product and the expected total direct labor-hours (DLHs)required to produce that output appear below:
The direct labor rate is $17.50 per DLH.The direct materials cost per unit for each product is given below:
The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
The unit product cost of Product O6 is closest to:
A) $637.15 per unit
B) $896.71 per unit
C) $721.00 per unit
D) $661.45 per unit

Answers

Question Completion:

Aikman, Inc., manufactures and sells two products: Product O6 and Product O7.Data concerning the expected production of each product and the expected total direct labor-hours (DLHs)required to produce that output appear below:

                              Expected      DLH         Total DLH

                              Production

Product 06               200            9.00           1,800

Product 07               800           10.00          8,000

Total                      1,000                               9,800

The direct labor rate is $17.50 per DLH.The direct materials cost per unit for each product is given below:

                              Direct Materials

                              Costs / unit

Product 06              $206.50

Product 07              $162.30

The company has an activity-based costing system with the following activity cost pools, activity measures, and expected activity:

Activity               Activity        Estimated   Product 06  Product 07     Total

Pool                   Measure      Overhead

Labor-related     DLHs         $133,770         1,800          8,000          9,800

Product orders   Orders          18,501            400             300             700

Order size          MHs             145,180        3,000           3,100          6,100

Total                                     $297,451

Answer:

Aikman, Inc.

The unit product cost of Product O6 is closest to:

B) $896.71 per unit

Explanation:

a) Data and Calculations:

                                       Product 06     Product 07

Direct Materials costs     $206.50          $162.30

Direct labor costs             $157.50          $175.00

Overhead cost per unit   $532.71          $238.64

Total cost per unit           $896.71          $575.94

                                     Product 06     Product 07

Direct labor costs              1,800              8,000

Direct labor rate               $17.50            $17.50

Total labor costs           $31,500             $140,000

Units of products             200                 800

Labor cost per unit       $157.50            $175.00

Overhead cost Allocation   Product 06   Product 07    Total

Labor-related  ($13.65)        $24,570       $109,200    $133,770

Product orders ($26.43)         10,572             7,929        18,501

Order size ($23.80)                71,400            73,780      145,180

Total                                   $106,542        $190,909  $297,451

Production units                     200                 800

Overhead cost per unit      $532.71          $238.64

Please choose one of following answers that are in quote

What is the opportunity cost in this scenario?
Harry has been very busy at work for the past two weeks. He has been working weekends too. Finally, he is going to get a weekend off. "Originally, he planned to paint his apartment that weekend." "He also considered going fishing for the weekend." "But then his parents called and asked him to come for dinner because it has been a while since they have seen each other."

"Later on, his friend Theo informed him about a surprise birthday party for another friend." Theo plans to reserve a room at a restaurant for the celebration, with the cost to reserve the room split between Theo, Harry, and three other friends.

Now Harry is confused about what he should do over the weekend. He decides that, for him, the most important commitments are going over to his parent's house and attending his friend's birthday party. In the end, Harry decides to see his parents.

Answers

Answer:

it would be better to go the his parents house so it would be cheaper, probably around $10

Explanation:

Based the talk by Alexander Wagner we learn that managers and employees who have protected values will sacrifice monetary advantage so that their efforts are consistent with these values.
A. True
B. False

Answers

Answer:

A) True

Explanation:

Based on some experiments, Alexander Wagner a SFI Professor from University of Zurich stressed on concept of protected values, he explained that an individual that has strong protected values will have less inclination to promote lies he received from others. He reveals individual motivation do comes from certain intrinsic values which is regarded as "protected values". And it has its own consequence in in the sense that individual have a better feeling when money is earned in a manner that suite one's value. It should be noted that Based on the talk by Alexander Wagner it was learnt that managers and employees who have protected values will sacrifice monetary advantage so that their efforts are consistent with these values.

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