Consider the annual expense of a plant in the following table: Types of expensesAmount of money($)
Direct labor 5,000,000
Materials 1,000,000
Factory expense 1,500,000
Corporate expense 4,000,000
a)Determine factory overhead rate, cooperate overhead rate
b)Suppose that this plant will produce 100 products which are ordered from customer with processing time is 150 hours. The total time for processing the parts (including setup and other direct labor) is 100 hr. Direct labor cost is $18.00/hr. The material cost is provided by the customer.
1) Determine the cost of the job.
2) Determine the price should be quoted to the customer if the company uses a 10% markup?

Label each scenario with the term that best describes it. use the midpoint method when applicable. marcel duchamp was a famous artist prior to his death, and was known for his dada artwork, including works such as "soft toilet". all of his original sculptures and paintings go on sale. paul owns a tim horton's, a famous donut and coffee franchise. he is willing to sell as many maple glazed donuts as customers want at a price of $1.00 each, but he refuses to sell any donuts for any price lower than $1.00 . the price of facial tissues rises from $2.85 per box to $3.15 . as a result, p& g increases production from 15 million boxes to 25 million boxes of facial tissue. with the school semester starting for both high school and college, papermate chooses to increase production of pens from 38 million to 42 million after global prices of writing instruments increase from $1.90 a package to $2.10 a package. bright ideas increases its production of lightbulbs by 15% after a 400% increase in the price of fluorescent bulbs.labels: elastic supply; perfectly inelastic supply; perfectly elastic supply; inelastic supply; unit-elastic supply.

Used cars usually have options: higher depreciation rate than new cars lower financing costs than new cars lower insurance premiums than new cars lower maintenance costs than new cars

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.