If Real GDP Per Capita in Ireland Is Estimated to Be

question 140

Multiple Choice

If real GDP per capita in Ireland is estimated to be $7,400 in 2012, what will real GDP per capita be in 2017 if real GDP per capita grows at an annual rate of 2.8%?

• A)$7,607
• B)$8,496
• C)$9,472
• D)$20,720
• E)$21,375

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Definitions:

FOH Volume Variance

A financial metric that measures the difference between the budgeted fixed overhead and the applied fixed overhead based on actual production volumes.

FOH Budget Variance

The difference between the budgeted factory overhead costs and the actual factory overhead incurred during a period.

Variable Manufacturing Overhead

Costs in manufacturing that vary with the level of production output, such as utilities or raw materials, excluding direct labor and materials.

Work in Process Inventories

Inventories that include all partially completed goods or materials that are in the process of being manufactured.