A firm that has implemented JIT had the following transactions: Materials were purchased on account for $40,000. Materials were placed into production. Actual direct labor costs were $6,000. Actual overhead costs were $40,000. Conversion costs applied were $42,000. All work was completed for the month. All completed work was sold. The variance is recognized. What will be the entry to record material purchases using the traditional approach

Gdp has grown in a country at 3% per year for the last 20 years. the labor force has grown at 2% per year and the quantity of physical capital has grown at 4% per year. a 1% increase in average physical capital per worker (other things equal) raises productivity by 0.3%. average education has not changed. how much has growing physical capital per worker contributed to productivity growth in this country? choose the correct answer from the following choices, and then select the submit answer button. answer choices 0.3% 0.6% 3.0% 6.0%