Park Corporation is planning to issue bonds with a face value of $750,000 and a coupon rate of 7.5 percent. The bonds mature in 4 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Park uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent.
Required:
1. Provide the journal entry to record the issuance of the bonds.
2. Provide the journal entry to record the interest payment on June 30 and December 31 of this year.
3. What bonds payable amount will Claire report on this year's December 31 balance sheet?
Answers
Answer:
Bond issuance
Dr Cash $725,010.82
Dr Discount on bonds payable $ 24,989.18
Cr bonds payable $750,000
30 June :
Dr interest expense 30,812.96
Cr cash 28,125.00
Dr bonds discount 2,687.96
December 31:
Dr interest expense 30,927.20
Cr cash 28,125.00
Dr bonds discount 2,802.20
Bonds payable at 31st Dec: $ 730,500.98
Explanation:
The price on the bonds issue is computed using pv formula in excel as shown below:
=-pv(rate,nper,pmt,fv)
rate is the semiannual market interest of 4.25% i.e 8.5%*6/12
nper is the number of semiannual coupon payments of the bond which is 4 years multiplied by 2=8
pmt is the semiannual coupon payment=$750,000*7.5%*6/12=$ 28,125.00
fv is the face value of $750,000
=-pv(4.25%,8,28125,750000)=$725,010.82
find attached amortization schedule
discount on bonds payable=$750,000-$725,010.82=$24,989.18
Related Questions
Which of the following is not a measure of central tendency?
Answers
Answer:
Standard deviation is not a measure of central tendency
Explanation:
Deviation means change or distance. But change is always followed by a reference. Hence standard deviation is a measure of change from central tendency i.e. mean. It is not itself a measure of central tendency.
Silver Star, a construction company, uses a distinctive seven-pointed star that is part of its brand. This star is an example of a
Answers
A construction company called Silver Star employs a striking seven-pointed star as part of its branding. An illustration of an abstract logo is this star.
What is an abstract logo?Marketing experts claim that businesses employ brand names to help potential buyers remember their names. However, a marketing logos campaign that helps clients recall the companies' names is successful.
A geometrically complex shape that conceptually represents your company instead of an identifiable symbol or image is known as an abstract logo. More crucially, abstract logos can add more meaning to an image, turning yours into a distinctive, lively brand.
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Select the correct answer.
Which sentence is likely to be the opening of a goodwill message?
Answers
Answer:
B. My sincere congratulations on your promotion.
Explanation:
Goodwill is generally done at the beginning of the introduction or providing some value and hopeful information and can include a warm courteous massage of thanks hat is appropriate such as regards. For the new product, service, or any opportunity.10. What happens during a bank run?
The price of gold suddenly increases, which devalues bank deposits.
States charter more banks than needed.
The government orders a bank to close.
Customers attempt to withdraw more money than the bank has on hand.
Answers
The thing which happens during a bank run is:
Customers attempt to withdraw more money than the bank has on hand.What is a Bank Run?This refers to the mass withdrawal of funds by a large number of customers where the banks are unable to pay everyone because they do not have the capacity to make such large withdrawals.
With this in mind, we can see that during a bank run, the main thing which pushes people is the fear of insolvency so that they would not lose their money.
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How many minutes before a job interview should an interviewee arrive where the interview will be conducted? 5 minutes 30 mintues 10 mintues 15 minutes G
Answers
The interviewee has to arrive at least 15 minutes where the interview will be conducted
Why does the interviewee have to arrive ealry?It is generally recommended that an interviewee arrive at least 10-15 minutes before the scheduled interview time. Arriving early allows for any unexpected delays such as traffic or trouble finding the location. It also gives the interviewee time to compose themselves, review their notes or resume, and get mentally prepared for the interview.
However, arriving too early, such as 30 minutes ahead of time, may also be problematic as it can cause inconvenience to the interviewer or create an awkward situation where the interviewee has to wait for an extended period.
On the other hand, arriving too late or right on time can give the impression of being unreliable or unprofessional. Therefore, 5 to 10 minutes before the interview is the minimum acceptable arrival time, while 10 to 15 minutes is generally considered ideal.
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DefineFollowing Term. volume of distribution (vd) =circulatory system =excretion =storage =distribution =
Answers
Volume of Distribution (VD): The VD is a measure of the amount of drug that is distributed throughout the body and is expressed as the volume of a drug that would be needed to contain the total amount of drug in the body.
Circulatory System: The circulatory system is a network of organs, vessels, and cells that transport oxygen, nutrients, hormones, and other substances throughout the body.
Excretion: Excretion is the process by which metabolic waste products and toxins are eliminated from the body.
Storage: Storage is the process by which drugs are stored in the body in order to maintain their therapeutic effects.
Distribution: Distribution is the process by which drugs are moved from one part of the body to another in order to reach the site of action.
Volume of Distribution (VD): The VD, which is represented as the volume of a medication that would be required to contain the entire amount of drug in the body, is a measurement of the amount of drug that is dispersed throughout the body. It is calculated by dividing the total amount of drug in the body by its concentration.
Circulatory System: A network of organs, blood arteries, and cells called the circulatory system carries oxygen, nutrition, hormones, and other materials throughout the body. It consists of the cardiovascular system (heart, blood, and blood vessels) and the lymphatic system (lymphatic vessels and lymph nodes).
Excretion: The two main organs involved in excretion are the kidneys and the liver. The kidneys filter out toxins and waste from the bloodstream and excrete them in the form of urine. The liver is responsible for breaking down toxins to harmless byproducts and excreting them in the form of bile.
Storage: Drugs are usually stored in fat or muscle tissue, allowing them to be slowly released over time. This helps to maintain a constant level of the drug in the body, ensuring that the patient receives the full therapeutic benefit of the drug. In addition, proper storage can help to reduce the risk of drug toxicity.
Distribution: This process is usually accomplished through the use of specialized transport proteins or molecules, which move the drug from one part of the body to another. The main purpose of drug distribution is to ensure that the drug reaches its intended target in an effective and efficient manner.
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Which scenario best reflects the relationship between production and demand in a recession?
O Car dealerships have minimal overstock.
Car dealerships are not restocking.
Car dealerships cannot sell their stock.
O Car dealerships cannot obtain stock.
Od
Answer
Answers
Answer:
C. Car dealerships cannot sell their stock.
Explanation:
QUESTION ONE
ABC Ltd wishes to expand its business. On 31 Dec 2021, the company had
the following existing and proposed capital structures to support the
expansion programme.
1. The existing 8% debt capital has a book value of Ksh 50 000 000 and
matures in 10 years. The market value of debt at the close of business on
31 Dec 2021 was Ksh 40 000 000
2. A ten year loan of Ksh 300 000 000 is to be raised at an interest of 10
percent p.a. A cost of Ksh 20 000 000 will be incurred in raising this loan
3. A 12% preference stock capital stands in the books at Ksh 100 000 000
( 1 000 000 shares) and has a total market value of Ksh 150 000 000.
4. There are 40 000 000 ordinary shares with a current market price of Ksh
1500 each. The firm’s expected earnings per share (EPS) stand at Ksh
200, its growth rate is 6% and has a dividend payout of 60%.
5. The company plans to issue 10 000 000 ordinary shares at a market price
of Ksh 1 500 per share. The cost of floating the shares is estimated at Ksh
10 000 000.
Required:
i) Firm’s current weighted average cost of capital (10 marks)
ii) Firm’s expected weighted average cost of capital after the expansion
programme (i.e. marginal cost of capital) (5 marks)
QUESTION TWO
An investor intends to place Ksh 112,000,000 in the 91 days Treasury bill at a quoted rate/yield of 7.65%
p.a.
Required:
a) Compute the investor’s return, assuming that he is withholding tax-payer
b) Compute the investor’s return, assuming that he is non-withholding taxpayer (6 marks)
Answers
Answer:
rat
Explanation:
Question 1: Critique the case from a leadership, internal and external communication with stakeholders, and barriers to communication point of view.
Answers
A general view from the leadership, internal and external communication with stakeholders has been provided
The leadership, internal and external communication with stakeholdersLeadership:
Efficient leadership necessitates setting a definitive vision, encouraging and motivating personnel, and making judicious decisions when required. A successful leader should succinctly verbalize the vision and objectives of the organization and guarantee that employees comprehend their positions in attaining those aims.
Internal communication with stakeholders:Interior communication with stakeholders pertains to communication within an institution with staff, superior executives, and additional internal stakeholders. Successful internal communication can facilitate aligning the visions and aspirations of the corporation and guaranteeing that everybody is progressing towards common ambitions.
External communication with stakeholders:
External communication with stakeholders alludes to communication with purchasers, vendors, financiers, and other external parties. Effective external communication can promote constructing associations with these stakeholders, embellish the standing of the establishment, and elevate customer gratification.
Barriers to communication:Certain obstructions to productive communication can affect the capability of leaders to communicate effectively with stakeholders. These impediments involve speakers barriers, cultural differences, physical detachment, and technological issues. Other hindrances consist of inadequate trust, deficient listening aptitudes, and indefinite or ephemeral messages.
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Which of the following is the best example of integrity?
OA
Roger's boss takes 2-hour lunches. Roger tells no one.
OB.
Sandra's mistake on a report could be disastrous. She immediately reports the error even
O C.
Don believes it is okay to check his social media accounts at work since no one says it's wr
OD.
Andrea borrows $20 from the company's petty cash fund, which she intends to pay back.
Answers
Integrity is the discipline of being truthful and demonstrating a steadfast and unwavering adherence to high moral and ethical standards. Hence option B is correct .
What is Integrity ?Integrity is defined in ethics as being honest, true, or accurate in one's activities. Being judged by the standards of integrity entails viewing internal consistency as a virtue and recommends that parties holding internally apparent conflicts of values should explain the gap or change their ideas.
This is how integrity can be opposed to hypocrisy. The adjective integer, which means whole or whole in Latin, is where the word integrity first appeared. In this application, integrity refers to the internal sense of "wholeness" derived from traits like honesty and moral rectitude.
An individual is considered to have the virtue of honesty in ethics.if the person acts in accordance with a set of moral standards that are internally consistent. These rules must all consistently follow valid axioms or postulates of logic. When a person's behaviours, beliefs, techniques, measures, and ideals all stem from a single set of fundamental principles, that person is said to have ethical integrity.
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Two key aspects of financial planning are cash planning and profit planning. Cash planning involves the preparation of the cash budget and profit planning involves preparation of pro forma statements. To make cash budget and pro forma statements for a firm, accounting knowledge is needed. Do accounting courses you took before help you better understand how to make cash budget and pro forma income statement and balance sheet? Explain.
Answers
Yes. Accounting courses I took before helps us understand how to make cash budget and pro forma income statement and balance sheet.
Here's how accounting courses can help individuals in creating cash budgets, pro forma income statements, and balance sheets:
Cash Budget: Accounting courses teach students about the importance of cash flow management and how to prepare a cash budget. Pro Forma Income Statement: Accounting courses teach students how to analyze historical financial data and use it to forecast future performance. Balance Sheet: Accounting courses provide a comprehensive understanding of balance sheets and their components. Students learn how to analyze assets, liabilities, and shareholders' equity to assess the financial position of a company.By studying accounting, individuals gain a solid foundation in financial concepts, reporting standards, and analytical techniques. This knowledge equips them with the skills necessary to create cash budgets, pro forma income statements, and balance sheets effectively.
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On January 1, 2018, the Chaucer’s Restaurant decides to invest in Lake Turner bonds. The bonds mature on December 31, 2023, and pay interest on June 30 and December 31 at 4% annually. The market rate of interest was 4% on January 1, 2018, so the $90,000 maturity value bonds sold for face value. Chaucer’s intends to hold the bonds until December 31, 2023.
Required:
a. Journalize the transactions related to Chaucer’s investment in Lake Turner bonds during 2018.
b. In what category would Chaucer’s report the investment on the December 31, 2018, balance sheet?
Answers
Answer:
a)
January 1, 2018
Dr Investment in bonds 90,000
Cr Cash 90,000
June 30, 2018
Dr Cash 1,800
Cr interest revenue 1,800
December 31, 2018
Dr Cash 1,800
Cr interest revenue 1,800
b) This investment must be reported under long term assets since they are classified as Held to Maturity.
under what circumstances might Costco have to start paying its workers less?
Answers
Explanation:
If for some reason Costco was to suffer from a lawsuit then it would have no choice but to cut the pay rates of their employees.Costco would have to pay its workers less if a lawsuit requires them to pay such a huge amount that they lose profitability.
Effects of a law suit Would cost Costco millions of dollars in both settlement and representation costs. Would damage Costco's reputation to some people.As a result of these two things, Costco would lose a lot of money and would be forced to pay workers less to maintain profitability.
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what is the explanation of how 3D printing gives SpaceX a competitive advantage
and
Exploration of how AI could be used to enhance SpaceX's 3D printing capabilities
Answers
3D printing offers your organization a genuinely necessary upper hand. It permits you to create models quicker, decreases the expense of creation, requires less info (HR and gear), and diminishes above.
SpaceX involves 3D printing in their designing and assembling processes, including printing parts for rocket motors, spouts, and primary parts for the Bird of Prey 9 and Hawk Weighty rockets and Mythical serpent shuttle.
The improvement of an ML framework that utilizes PC vision to screen the creation cycle and fix material dealing with shortcomings continuously. The fundamental benefits of 3D printing are diminishing expenses, less waste, decreased time, getting an upper hand, lessening mistakes, classification, and creation on request.
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Which of the following refers to the cost of the pure insurance coverage?
Answers
The premium reflects the cost of obtaining insurance protection and allows the insurance company to cover potential losses, administer claims, and maintain profitability in the insurance industry.
The cost of the pure insurance coverage is referred to as the premium. The premium is the amount of money that an individual or entity pays to an insurance company in exchange for the transfer of risk and the coverage provided by an insurance policy. It represents the cost of obtaining insurance protection against potential losses or damages.
When calculating the premium, insurance companies consider various factors, including the type of insurance coverage, the level of risk associated with the insured entity or individual, the coverage limits, and the probability of a claim being made. Actuaries play a key role in determining the premium by analyzing statistical data, assessing risks, and calculating the expected losses and expenses associated with providing the insurance coverage.
The premium can be paid in different ways, such as annually, semi-annually, quarterly, or monthly, depending on the terms of the insurance policy and the agreement between the insured and the insurance company. The amount of the premium is typically based on the insurer's assessment of the risk involved and is adjusted accordingly.
It's important to note that the premium represents the cost of the insurance coverage itself and does not include additional fees or charges that may be associated with the policy, such as administrative fees or taxes. These additional costs are typically separate from the pure insurance coverage and may vary depending on the insurance company and the specific policy terms.
Overall, the premium reflects the cost of obtaining insurance protection and allows the insurance company to cover potential losses, administer claims, and maintain profitability in the insurance industry.
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Why do we use lampshades and light fixtures?
~to make light speed up
~to create brighter light
~to make light slow down
~to keep light from scattering in all directions
Answers
Answer:
im pretty sure its D.
also hi sis.
assume yourself as a marketing specialist of a company and determine the new product development process by manufacturing a new product for your company ??
anyone have answere ?
Answers
Answer:
The Productisation produce is:
1. Ideation/Conceptualisation
This has to do with the generation of a product or service idea;
2. Research / Concept Testing Stage / Analysis
This stage has to do with the research around the idea to determine the availability of market for the product, size and target segment within the market, Growth Potential, competition analysis and current and potential issues that may arise due to the creation of the product;
As a substage of the research phase, a business analysis of the viability of the product is also carried out. this will entail
Cost-Benefit Analysis Resources Required Capital Expenses Profitability/Margin Anticipated Sales
3. Design/Creation of Prototype/Development
For physical products, this stage will look at on-paper design from which a prototype will be created.
After testing to ensure that the prototype works, it is then sent for development. This stage also involves market tests.
4. Launch
This is the final stage of the product development process.
It entails all the go-to-market activities such as market plan execution, sales/production training, execution of distribution plan.
It is possible at this stage to still collect product-related feedback from the market for consideration in the upgrade version of the product to be launched at a later date.
Cheers!
On November 1, 2019, Davis Company issued $30,000, ten-year, 8% bonds for $28,980. The bonds were dated November 1, 2019, and interest is payable each November 1 and May 1. Davis uses the straight-line method of amortization.
How much is the semi-annual interest expense when the straight-line method of amortization is utilized?
Multiple Choice
$2,298.
$1,251.
$2,502.
$2,349.
Answers
By calculating the semi-annual interest expense when the straight-line method of amortization is utilized, by the given bond value, the correct answer is found out to be $1,251
What is bond value?A bond's current value is calculated by adding the principal that will be repaid at maturity to the sum of the expected future coupon payments.
What is the value of the bond?Bond valuation is a method for figuring out an individual bond's hypothetical fair value. Bond valuation entails figuring out the face value or par value of the bond as well as the present value of the bond's potential interest payments, also referred to as its cash flow or future value.
Given,Bond value = $30,000
Rate = 8%
Period = 10 years
Issue price = $28,980
Bond value × rate : 30,000 × 0.08 = $2400
Semi annually: $2400 / 2 = $1200
(Bond value - issue price) ÷ (period × 2)
($30,000 - $28,980) / (10 × 2)
$1020 ÷ 20 = $51
$1200 + $51 = $1,251
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What's the diffrence between division manager and regional manager? please i need help i don't understand the difference.
Answers
your portfolio has grown from $2500 to $3800 what is the percent of the growth rate
Answers
Answer:
52%
Explanation:
(3800-2500)÷2500×100 = 52% as your growth rate
Write the quadratic equation in standard form that corresponds to the graph shown below.
Answers
The quadratic equation of the graph in standard form is y = x² + 2x - 8
What is a quadratic equation in standard form?A quadratic equation in standard form is given by y = ax² + bx + c
Given the graph below, to write the quadratic equation for the graph in s tandard form, we notice that the graph has two x - intercepts at
(-4, 0) and(2, 0)The x - intercepts are the roots of the quadratic equation.
So, we have that
x = -4 andx = 2So,
x + 4 = 0 andx - 2 = 0So, the factors of the quadratic equation are
x + 4 andx - 2So, multiplying the factors, we have that the equation is
y = (x + 4)(x - 2)
= x² - 2x + 4x + 4 × (-2)
= x² - 2x + 4x - 8
= x² + 2x - 8
So, the quadratic equation is y = x² + 2x - 8
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Han Cho has served in the US Army Reserves for two years. He is currently on active duty, stationed outside of the U.S. and is getting ready to come home. Under US law:
Answers
Answer:
Once Han returns to the US, his civilian employer is required to take him back.
Soldiers who are no longer in active duty and return to civil life again, have the right to return to their previous civilian jobs. Serving in the military is a very important task and soldiers should not be economically hurt because they served their country and employers are required to give them back their old job.
Uniformed Services Employment and Reemployment Rights Act (USERRA) is a law established by the US legislation that assures the employment right for engaged and active army staff.
When Han Cho will return home after he retires from running duty he will be hired back by his company.
The military staff who no longer serve in the army can return to their regular life and can take their routine jobs back.
This act preserves the rights of military employees so that they do not suffer from a financial shortage for serving their nation.
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Which of the following is an example of smart consumer behavior?
A
seeing an item in a store and buying it on impulse
B
buying an item without researching it first
с
looking up how much an item costs from different stores
D
purchasing an item you know you don't really need
It’s a flocabulary
Answers
Learners with a _____ learning style prefer reading, writing, and speaking. naturalistic logical/mathematical verbal/linguistic none of the above
Answers
Answer:
Verbal/linguistic learners prefer learning activities that involve reading, writing, and speaking.
Explanation:
\This dialogue reflects what aspect of communication?
a.
body language
b.
good listening
c.
working together
d.
leadership
Answers
The given dialogue reflects the good listening aspect of communication. Therefore, option B is the correct option.
What is communication?Communication is a process of conveying a message, an opinion, learning, and experience to other people through the means of writing it down, saying it, and so on.
Good communication is a skill in present times where it is valued in every sphere of life. With the help of good communication skills, an individual, can excel in his or her career by getting more contacts. The good communication skills also help in maintaining good relationships in life because one becomes emotionally intelligent, which strengthens the bonds among people.
The dialogue shown demonstrates the importance of effective listening in communication. As a result, choice B is the best one.
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The given question is probably incomplete. The complete question is given below.
Sara: "Tell me all about your weekend! Was it nice to be on the beach?" Rose: "It was awful! It rained the whole time and I didn't get to spend any time on the beach at all. This dialougue reflects what aspect of communication?
body language
good listening
working together
leadership
While Peloton has had a surge in subscriptions due to the COVID-19 pandemic, what are your long-term expectations for this company’s success? Would you buy stock in Peloton? Explain
Answers
A "significant decrease" globally as a result of consumers' price awareness and increased challenger activity Peloton mainly miscalculated the proportion of people who would buy its product after the coronavirus outbreak caused such a surge in demand.
What do you mean by Peloton case?Peloton shares ended Thursday down 23.9% at $24.22, bringing the stock's market value to $7.9 billion. During mercantilism, prices fell to a 52-week low of $23.25. The decline also pushed the stock below $29, where it had been previous to Peloton's original public offering.
Peloton also stated that it has seen poor email capture rates for the upcoming launch of its $495 strength instruction product, Peloton Guide, which has been codenamed "Project Tiger" in internal papers obtained by CNBC.
Email capture rates monitor the number of people who enter their email addresses on Peloton's website in order to obtain product information. According to the company, this is an indication of "a more difficult post-Covid market environment.
Therefore, a "significant decrease" globally as a result of consumers' price awareness and increased challenger activity Peloton mainly miscalculated the proportion of people who would buy its product after the coronavirus outbreak caused such a surge in demand.
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LA 6 Identify an example of a leader who you feel exemplifies effective management in a corporate or business setting. Explain why based on your readings in this unit.
Note: The example can be someone for whom you have worked, or someone from the broader business environment for which you are able to find substantiating information.
Answers
Henry Ford is one of the greatest leaders and entrepreneurs in the world, who was the founder of the Ford Motor Co. He made remarkable reformations with his assembly line production.
Who was Henry Ford?Henry Ford, founded the Ford Motor Company in the year 1903. To bring stability and efficiency in his production factory, he proposed assembly line production techniques.
The workers in his car factory were paid twice as wages, which motivated them to work harder. Furthermore, assembly line ensured faster production, as one worker would do only one job in the factory.
The techniques proposed by him continue to be a case of study for many students who aspire to learn ideal ways of leadership and management.
Hence, it can be stated that the leadership skills and techniques of Henry Ford are widely identified in the world for his contributions to the Ford Motor Company.
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from order Technology plays a major role in how warehouses are managed these days processing right through to inventory keeping and shipping. Do some research on what systems are available and specifically the financial benefits it holds for the user and owner. Write a short essay of no longer than 250 words.
Answers
The purpose of a WMS is to help provide that goods and materials move through warehouses in the most efficient and cost-effective way. A WMS handles many processes that enable these movements, including inventory tracking, picking, receiving and putaway
How does information technology help with warehousing?The real-time information provides accurate, current information to managers, warehouse workers, and operations personnel – all at the identical time – for better decision-making. Besides real-time information, WMS releases the guesswork of where the event is found.
What's the most significant thing in warehouse management?Goods tracking.Selection and packing.Receiving and stowingShipping.ReportingEnable logistical growth.Parcels are processed and shipped faster.To learn more about warehouses, refer
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Sugar Industries manufactures specialized candy dispensers. One of Sugar’s customers ordered 500 candy dispensers, Job 317C. The job cost sheet for Job 317C shows $1,750 in direct materials and 30 direct labor hours at $18 per hour. What amount did Sugar post to Work in Process Inventory?
Answers
Answer:
$2,290
Explanation:
The computation of the amount posted to Work in process inventory is shown below:
= Direct material cost + direct labor cost
where,
Direct material cost is $1,750
And, the direct labor cost is
= 30 direct labor hours × $18
= $540
So, the work in process inventory is
= $1,750 + $540
= $2,290
Hence, the work in process inventory is $2,290
Gilberto is a talented artist who sells hand-crafted goods on his website. Gilberto currently crafts and sells both crochet hats and embroidered sweaters. He spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of his time is spent on each good.
Answers
The circle symbols on the graph that are colored blue indicate the initial production possibilities frontier of Gilberto.
What happens if Gilberto was producing knit caps?If Gilberto dedicates all his time to producing knit caps, he can make up to 8 per day, or he can make up to 20 pillows per day if he solely focuses on making pillows.
Unfortunately, due to his limited working hours of only 8 per day, he is unable to manufacture a total of 8 knitted hats and 20 cushions daily.
The production possibilities frontier (PPF) displays the various pairings of knit caps and pillows that Gilberto is capable of manufacturing within a day.
While boosting the production of knitted caps, Gilberto would have to cut down on the production of pillows. The reason for this is that his work time is restricted. By choosing to produce an additional knit cap, the sacrifice is the ability to produce one less pillow.
The concept of opportunity cost can be better comprehended with the aid of the PPF. This indicates that in order to increase the production of a particular item, we must sacrifice the production of another item. Gilberto would need to sacrifice the production of some pillows if he aims to increase the output of knit caps.
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Gilberto is a talented artist who sells hand-crafted goods on his website. Gilberto currently crafts and sells both knit caps and pillows. He spends 8 hours a day working on crafts. The following table gives different daily output scenarios depending on how much of his time is spent on each good.
Choice
Hours Crafting
Produced
(Knit caps)
(Pillows)
(Knit caps)
(Pillows)
A 8 0 4 0
B 6 2 3 10
C 4 4 2 16
D 2 6 1 19
E 0 8 0 20
On the following graph, use the blue points (circle symbol) to plot Gilberto's initial production possibilities frontier (PPF).
