If total overhead cost is $10,000 and the dollar amount of production material used for all products is $50,000, calculate the overhead cost per material dollar as $10,000/$50,000 = $0.20 per material dollar. 2. Determine the amount of cost driver used in each unit of a product.
Hydrological drought: This is when there is a deficiency of surface water and ground water supply in a region, often as a result of less precipitation, excessive reliance on surface water for farming, energy and other needs. Hydrological drought does not usually occur at the same time as meteorological drought. In a way, this decline in the quantity and quality of surface and sub-surface water is the effect of meteorological drought. Socioeconomic drought: This condition is when some supply of some goods and services such as energy, food and drinking water are reduced or threatened by changes in meteorological and hydrological conditions.
Socioeconomic relates to where / what social and physical environment an individual lives and works. For example: a white-collar worker might live in the suburbs and work in a business district. Socio-economic group might be an affluent middle to upper class 'status' - closely associated with income and education. Further, a blue-collar worker might be viewed as a middle to lower class 'status' - - - get the idea?