Jake loaned elwood $5,000 for one year at a nominal interest rate of 10 percent. after elwood repaid the loan in full, jake complained that he could buy 4 percent fewer goods with the money elwood gave him than he could before he loaned elwood the $5,000. from this, we can conclude that the rate of inflation during the year was

Which are the best examples of costs that should be considered when creating a project budget?

Increases in output and increases in the inflation rate have been linked to

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget.the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead.a total of 119,300 units, using 478,000 direct labor hours, were produced during the year.actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.