Fixed manufacturing overhead was budgeted at $105,000, and 25,000 direct labor hours were budgeted Answer

Gina Production Company uses a standard costing system. The following information pertains to 2009: Actual factory overhead costs ($16,500 is fixed) $40,125 Actual direct labor costs (11,250 hours) $131,625 Standard direct labor for 5,500 units:        Standard hours allowed 11,000 hours      Labor rate $12.00 The factory overhead rate is based on an activity level of…

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If actual fixed manufacturing overhead was $54,000 and there was a $1,300 unfavorable spending variance Answer

If actual fixed manufacturing overhead was $54,000 and there was a $1,300 unfavorable spending variance and a $1,000 unfavorable volume variance, budgeted fixed manufacturing overhead must have been a. $56,300. b. $50,300. c. $53,000. d. $52,700. ANS:  D CALCULATIONS: $54,000 – $1,300 = $52,700    Fixed manufacturing overhead was budgeted at $200,000, and 25,000 direct…

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Present an example of a game with a pure-strategy Nash equilibrium in which each player chooses a weakly dominated strategy Answer

QUESTION 1.  (Nash Equilibrium in Weakly Dominated Strategies) Part I. Present an example of a game with a pure-strategy Nash equilibrium (call it s*) in which eachplayer chooses a weakly dominated strategy. (Two players with two strategies apiece will suffice). Part II. Present an example of a game with two pure-strategy Nash equilibria (call them…

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Are the effects of an increase in aggregate demand in the aggregate demand and aggregate supply model consistent with the Phillips curve Answer

1. Are the effects of an increase in aggregate demand in the aggregate demand and aggregate supply model consistent with the Phillips curve? Explain.  2. Explain the connection between the vertical long-run aggregate supply curve and the vertical long-run Phillips curve. 3. Why and in what way are fiscal policy lags different from monetary policy…

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If there is a $1 per unit tax on tobacco which is collected by sellers then explain whether the buyers or sellers bear the greater burden of the tax Answer

(Supply, demand, elasticity and consumer spending). Use the tobacco elasticity data given below to answers a), b) and c). Own price elasticity of demand = -0.6 Income elasticity of demand = +0.3 Cross price elasticity of demand with respect to food prices = -0.2 Price elasticity of supply = +0.3. a) If there is a…

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