The day to day living conditions of today are much different than they were in the 20th century. charlie, doing some web searching with stumbleupon, discovers that more houses today (as compared to houses in the 20th century) have electricity (for his video games), air conditioning (which he is for, since he lives in the sweltering heat of texas) and a car (which allows him to go to cafes to study economics easily, because he is too lazy to ride his bike). what changed between the early twentieth century and present day that allowed this to happen? a. there were no market failures during this time. b. there has been economic growth in our society. c. the invisible hand has guided all nations around the world to this prosperity. d. there have been fewer recessions, allowing americans to prosper and earn more money.

Laval produces lamps and home lighting fixtures. its most popular product is a brushed aluminum desk lamp. this lamp is made from components shaped in the fabricating department and assembled in the assembly department. information related to the 22,000 desk lamps produced annually follows.direct materials $280,000direct labor fabricating department (8,000 dlh × $24 per dlh) $192,000assembly department (16,600 dlh × $26 per dlh) $431,600machine hours fabricating department $15,200mhassembly department $20,850mhexpected overhead cost and related data for the two production departments follow.fabricating assemblydirect labor hours 150,000dlh 295,000dlhmachine hours 161,000mh 128,000mhoverhead cost $400,000 430,000required1. determine the plantwide overhead rate for laval using direct labor hours as a base.2. determine the total manufacturing cost per unit for the aluminum desk lamp using the plantwide overhead rate.3. compute departmental overhead rates based on machine hours in the fabricating department and direct labor hours in the assembly department.4. use departmental overhead rates from requirement 3 to determine the total manufacturing cost per unit for the aluminum desk lamps.