Concord Company has gathered the following information about its product. Direct materials: Each unit of product contains 3.20 pounds of materials. The average waste and spoilage per unit produced under normal conditions is 0.80 pounds. Materials cost $2 per pound, but Concord always takes the 5.00% cash discount all of its suppliers offer. Freight costs average $0.25 per pound.
Direct labor. Each unit requires 2.10 hours of labor. Setup, cleanup, and downtime average 0.10 hours per unit. The average hourly pay rate of Concord’s employees is $13.20. Payroll taxes and fringe benefits are an additional $2.20 per hour.
Manufacturing overhead. Overhead is applied at a rate of $4.80 per direct labor hour.
Compute Concord’s total standard cost per unit. (Round answer to 2 decimal places, e. g. 1.25.)
Total standard cost per units $ .

According to the u.s. census bureau (), the median household income in the united states was $23,618 in 1985, $34,076 in 1995, $46,326 in 2005, and $57,230 in 2015. in purchasing power terms, how did family income compare in each of those four years? you will need to know that the cpi (multiplied by 100, 1982–1984 = 100) was 107.6 in 1985, 152.4 in 1995, 195.3 in 2005, and 237.0 in 2015

Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations

If a product goes up in price, and the demand for it drops, that product's demand is a. elastic b. inelastic c. stable d. fixed select the best answer from the choices provided