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Where would an REA diagram for the production cycle store information for the standard time to make a product? (Check all that apply.)
A. In the machine operations list table
B. In the work in process table
C. In the bill of materials table
D. In the job operations list table
Where would an REA diagram for the production cycle depict the list of ingredients for making a product?
A. In the bill of materials table
B. In the raw materials table
C. In the work in process table
D. In the finished goods table
What are the benefit associated with low cost of production?
1) The Cobb-Douglas production function is
y=z1αz2β
, with
α>0
and
β>0
. Show that
MP1=αy/z1
,
MP2=βy/z2
. What is the
MRTS21
? How does it vary with: (a) y; (b)
z2/z1
.
2) Show that the cost function for a firm with the constant returns Cobb-Douglas production function
y=Az1αz21−α
is given by
C(p,y)=yp1αp21−αB
, where B is a function of A and
α
only. Derive the conditional input demands
In a certain region, demand for construction equipment is downward-sloping and elastic with respect to price, while supply is upward-sloping and relatively inelastic. If the state government imposes a tax on the sale of construction equipment, which of the following statements would be true about the effect of the tax?
More of the tax burden falls on consumers than on producers
More of the tax burden falls on producers than on consumers
Total consumer and producer surplus will be reduced by an amount equal to the tax revenue generated
None of the above
All of the above
Consider some of the most important ways in which developing countries may differ in their economic, social, and political structures
consider a consumer with income rupees hundred there are two commodities 1 and 2 to choose from if the consumer spends all his income on good one he can buy 5 units of it if he spent all his income on good to he can buy 20 units of it is based on the given information attempt the following
consider a consumer with income rupees hundred there are two commodities 1 and 2 to choose from if the consumer spends all his income on good one he can buy 5 units of it if he spent all his income on good to he can buy 20 units of it is based on the given information attempt the following
Sonja Cc is a small firm that makes outfits for customers tailored for their functions, in May 2021 she was ordered for a baby shower (BS)
The details for the Job BS are as follows:
Direct materials: 12 units at N$124.
Direct labour: 20 hours for department A at N$25 per hour.
10 hours for department B at N$30 per hour
12 hours for department C at N$27.50 per hour
The firm allocates manufacturing overheads budgeted at N$2500 in department A, N$2000 in department B and N$3000 in department C.
The firm expects a profit of 55% on the total cost of BS
Required:
a)Calculate the cost of the baby shower BS
b)Calculate the selling price of a baby shower (BS)
c)If the number of outfits are the same for each type of function, which function should Sonja choose to produce and why?
