WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for the next month is as follows:
Product X Product Y Product Z
Units produced 1,500 2,000 3,000
Per unit sales value at split-off $ 19.00 $ 21.00 $ 24.00
Added processing costs per unit $ 7.00 $ 7.50 $ 7.00
Per unit sales value if processed further $ 29.00 $ 29.00 $ 30.00
The cost of the joint raw material input is $149,000. Which of the products should be processed beyond the split-off point?
Product X Product Y Product Z
A) Yes Yes No
B) No Yes No
C) Yes No Yes
D) No Yes Yes
1. Choice D
2. Choice A
3. Choice B
4. Choice C
Answers
Answer:
yes yes NO ( A )
Explanation:
products X,Y,Z
units produced : X = 1500 , Y = 2000, Z = 3000
per unit sales value at split-off : X = $19, Y = $21, Z = $24
Added processing costs per unit : X = $7, Y = $7.50 , Z = $7
per unit sales value if processed further : X = $29, Y = $29, Z = $30
COST OF JOINT MATERIAL INPUT = $149000
To check for products to be processed further we apply
(unit sales value if processed further - per unit sales value at split-off ) - ( added processing cost )
for product X = $29 - $19 - $7 = $3
for product Y = $29 - $21 - $7.5 = $0.50
for product Z = $30 - $24 - $7 = - $1 ( negative value )
products to be processed beyond the split of point would be : X Y
because Z has a negative contribution margin
Related Questions
PLEASEEEE HELP at Kwok owns and operates Kwok's Word Processing Service. The accounts used for recording and reporting business transactions are:
1. Pat invested $20,000 in the business to begin operations.
2. Purchased computer equipment for $3,500.
3. Invested computer equipment, valued at $600, in the business.
4. Bought a used cash register, $975, on account from Downey Equipment, Inc.
5. Purchased processing supplies for $739.
6. Paid $600 on account to Downey Equipment, Inc.
7. Purchased paper, ribbons, and other processing supplies for $539, on account, from Gillis Office Supplies.
8. Purchased a desk for $495.
9. Paid Gillis Office Supplies $539 on account.
Answers
Processing Supplies 739 Cash or Accounts Payable 739 for transaction 5.
The purchase of processing supplies is noted in this item.
Accounts Payable 539 for transaction 9
Accounts Receivable or Cash 539
This entry serves as proof of the payment made to Gillis Office items for the items that were first bought on credit.
Because there are no associated revenues or expenses, the aforementioned items only have an influence on the balance sheet. The accounts payable account will increase by $739 for transaction 5 and decrease by $539 for transaction 9, while the processing supplies account will increase by $739. For transactions 5 and 9, the Cash account will be reduced by $739 and $539, respectively.
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when drawing from mcgregor's x-y theory and the carrot and stick approach, which of the following take a more positive approach and show better chances (though never guaranteed) of retaining and motivating employees?
Answers
Answer:Theory Y managers and the carrot approach
Explanation:n.a
Match the descriptions to the letter type they explain.
focuses on how you
would fit with
the company
addresses the job
description and
your qualifications
follows the résumé's
format
not intended for a
specific job
Cover Letter
Letter of Interest
Answers
Answer:
cover letter
follows resume format
addresses the job description and your qualification
letter of interest
not intended for a specific job
focuses on how you would fit with the company
A description is giving details about something. The descriptions of the letter type that explain the cover letter and letter of interest are as follows:
What is a description?A description can be defined as a statement giving details about something or someone.
A cover letter follows the resume format and addresses the job description and qualifications.
A letter of interest is not intended for a specific job and mainly focuses on how you would fit with the company.
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IntelAir Present Value
You are an investment bank intern and your first job is to help with an acquisition project. Your client, Purifier, is an industry leader in the air conditioning business. Recently, Purifier approached your investment bank and expressed its interests in acquiring a start-up called IntelAir. Your project manager assigned you the task of evaluating this acquisition. After one week of research, you gathered the following information about IntelAir.
IntelAir was founded two years ago by a few college dropouts. IntelAir has developed a proprietary temperature sensor antenna and a patented air purifying system. Purifier thinks that acquiring IntelAir will bring valuable economic synergies and expand Purifier’s market share.
IntelAir has signed contracts with several temperature sensor companies to deliver its antenna. The contract specifies that over the next ten years (years 1 to 10), IntelAir would deliver their most up-to-date sensor antennas for $1000/unit. The yearly order volume is 5000 units for a total revenue of $5,000,000. After 10 years, IntelAir anticipates that there will be no more demand for antenna due to landscape changes in the technology space.
The all-inclusive cost of sensor production is $700/unit. However, IntelAir expects that in year 5, there will be a major technology upgrade. IntelAir will incur a one-time upgrading expense in year five, which is not included in the previous all-inclusive cost. The upgrading expense is $800,000.
Also, Purifier intends to sell the air purifying system patent one year after the acquisition (year 1). The patent’s expected selling price is $2,000,000.
Purifier currently uses a discount rate of 10%.
What is the maximum Purifier should pay for IntelAir? (please use two decimal digits in your answer)
Answers
The maximum amount that Purifier should pay for IntelAir is $10,538,700.
Data and Calculations:
Selling price per antenna = $1,000
All-inclusive production cost per unit = $700
Annual net cash inflow per unit = $300/unit ($1,000 - $700)
Number of units to be sold per year = 5,000 units
Total annual net cash inflow = $1,500,000 ($300 x 5,000)
Expected period of revenue generation = 10 years
Discount rate = 10%
The PV annuity factor at 10% for 10 years = 6.145
The Present value of annuity of net cash inflow = $9,217,500 ($1,500,000 x 6.145).
The Present value of patent sale = $1,818,000 ($2,000,000 x 0.909).
The Present value of upgrading expenses = $496,800 ($800,000 x 0.621).
The maximum amount that Purifier should pay for IntelAir is $10,538,700 ($9,217,500 + $1,818,000 - $496,800).
Thus, the maximum amount that Purifier should pay for IntelAir is $10,538,700.
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For this discussion, you should put yourself in the role of a moderator as you:
Answers
Unions are organizations that represent workers in a particular industry or profession. Their primary goal is to protect the rights and interests of workers by negotiating better wages, benefits, and working conditions.
What are the policies of the Union?Unions are organizations formed by workers to protect their interests and rights in the workplace. They advocate for collective bargaining, fair wages and benefits, workplace safety, non-discrimination, job security, training and education, and political advocacy.
What are the labor laws?Labor laws are laws that govern the relationship between employers and employees in the workplace. Examples include minimum wage laws, overtime laws, anti-discrimination laws, health and safety laws, leave laws, unionization laws, and employment contract laws. These laws govern the rights of employees to form and join unions and establish the legal requirements for collective bargaining.
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What are unions? What are their roles and policies?
You are reading product reviews posted online by consumers. Which external information source are you using?
A. company website
B.industry website
industry website
C. social media
D. print media
E consumer report
Answers
Option (e), Reading customer reviews of products that have been put online. The external information source you're employing is called Consumer Report.
What does it mean when something is a "internal source" or a "external source"?Internal data refers to information regarding the business's activities, maintenance, personnel, and finances. Market information that comes from customers and competitors is external. It comprises data like statistics from surveys, polls, research studies, and customer feedback.
Consumer reviews are what kind of information?Customer review data is the sum of consumer ratings and reviews of products, services, and businesses. Customer feedback data looks at how consumers engage with and use a brand's products and services. what consumers think about a business.
Why are consumer product reviews important?Product reviews help businesses choose which products to stock in addition to helping consumers make informed decisions. According to Invsep, 90% of customers check internet reviews before visiting a business, and 88% of them think that these reviews are just as trustworthy as personal recommendations.
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Hill Industries had sales in 2019 of $7,600,000 and gross profit of $1,199,000. Management is considering two alternative budget plans to increase its gross profit in 2020. Plan A would increase the selling price per unit from $8.00 to $8.40. Sales volume would decrease by 10% from its 2019 level. Plan B would decrease the selling price per unit by $0.50. The marketing department expects that the sales volume would increase by 107,000 units. At the end of 2019, Hill has 48,000 units of inventory on hand. If Plan A is accepted, the 2020 ending inventory should be equal to 5% of the 2020 sales. If Plan B is accepted, the ending inventory should be equal to 64,000 units. Each unit produced will cost $1.80 in direct labor, $1.40 in direct materials, and $1.20 in variable overhead. The fixed overhead for 2020 should be $1,767,480.
Prepare a sales budget for 2020 under each plan.
Answers
Answer:
Plan A:
Sales in units= 855,000
Sales revenue= $7,182,000
Plan B:
Sales in units= 1,057,000
Sales revenue= $7,927,500
Explanation:
Giving the following information:
Hill Industries had sales in 2019 of $7,600,000
Plan A:
Selling price= $8.4
Sales= 10% lower
Plan B:
Selling price= $7.5
Sales= 107,000 units higher
First, we need to determine the number of units sold in 2019:
Units sold= 7,600,000/8= 950,000 units
Plan A:
Sales in units= 950,000*0.9= 855,000
Sales revenue= 855,000*8.4= $7,182,000
Plan B:
Sales in units= 950,000 + 107,000= 1,057,000
Sales revenue= 1,057,000*7.5= $7,927,500
______is a diversion tactic to avoid responsibilities.
a. Type A
b. Workaholism
c. Time juggler
d. Procrastinator
Answers
A procrastinator is an individual who employs diversion tactic to avoid reponsibilities rather than facing the activities needed to accomplish the responsibilities.
Who is a procrastinator?A procrastinator is a nonchalant individual that shows an unwillingness to do the needful and the rightful assignment or task at a required time. They do procrastinate by extending the time at which they are to perform a required task that needed to be done presently.
Procrastination is not ideal is a young adult because it makes you not take charge of your daily activities. Procrastination is an undisciplined traits that makes you not be goal oriented and all your day drive itself. It is important not to procrastinate and take charge of your activities.
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What is the difference between a point inside and a point on a PPC?
Answers
Answer:
The Production Possibilities Curve (PPC) is a model that captures scarcity and the opportunity costs of choices when faced with the possibility of producing two goods or services. Points on the interior of the P PC are inefficient, points on the P PC are efficient, and points beyond the PPC are unattainable
Explanation:
q Conflict Consequences 2 Difference between critical and Creative thinking. 3. Positive Use & Teisure time 41m Portance & Self Identity Svalues associated with creative Thinking
Answers
Critical thinking involves analyzing and evaluating information, while creative thinking involves generating new ideas and solutions. Positive use of leisure time includes engaging in activities that promote personal well-being, learning, self-improvement, socializing, and exploring new experiences.
Difference between critical and creative thinking:
Critical thinking is a cognitive process that involves analyzing and evaluating information or arguments in a logical and systematic manner. It focuses on objective analysis, reasoning, and problem-solving. Critical thinking requires the ability to question assumptions, recognize biases, and assess evidence to form well-reasoned judgments or decisions.
On the other hand, creative thinking involves generating new ideas, insights, or solutions. It is a process of divergent thinking, breaking away from conventional thoughts and exploring alternative perspectives.
Creative thinking often involves combining different ideas, making connections, and thinking outside the box. It encourages imagination, flexibility, and the ability to embrace uncertainty.
While critical thinking aims to assess and evaluate existing information or arguments, creative thinking aims to generate new possibilities or approaches. Critical thinking seeks to analyze and deconstruct, while creative thinking seeks to synthesize and construct.
Positive use of leisure time:
Leisure time refers to the period when individuals are free from work or other obligations and can engage in activities of their choice. Positive use of leisure time involves engaging in activities that contribute to personal well-being, growth, and fulfillment. Here are some examples:
Pursuing hobbies and interests: Engaging in activities such as painting, playing a musical instrument, gardening, or sports can provide relaxation, personal enjoyment, and a sense of accomplishment.
Learning and self-improvement: Using leisure time to learn new skills, read books, take online courses, or engage in personal development activities can enhance knowledge, broaden perspectives, and foster personal growth.
Physical and mental well-being: Allocating leisure time for exercise, meditation, yoga, or other wellness activities promotes physical fitness, reduces stress, and enhances overall well-being.
Socializing and building relationships: Spending leisure time with family, friends, or participating in community activities helps foster social connections, build relationships, and strengthen support networks.
Exploring new experiences: Traveling, visiting museums, attending cultural events, or trying new cuisines broadens horizons, provides exposure to different cultures, and creates memorable experiences.
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11. a. Suppose David spends his income M on goods x1 and x2, which are priced p1 and p2, respectively. David’s preference is given by the utility function
(1, 2) = √1 + √2.
(i) Derive the Marshallian (ordinary) demand functions for x1 and x2. (25 marks)
(ii) Show that the sum of all income and (own and cross) price elasticity of demand
for x1 is equal to zero. (25 marks) b. For Jimmy both current and future consumption are normal goods. He has strictly convex and strictly monotonic preferences. The initial real interest rate is positive. If the real interest rate falls, in each of the following cases, argue what will happen to his period 2 consumption level? Clearly illustrate your argument on a graph.
(i) He is initially a borrower. (25 marks)
(ii) He is initially a lender. (25 marks)
Answers
Answer:
Explanation:
D
McBurgers Inc. noticed brown pellets in some areas of
their kitchen. They assume that it is a sign of pest
infestation. What action should they take?
Check all that apply:
Store food away from walls and dispose of trash
regularly.
Change humidity, light, and temperature conditions
in the whole food service area.
Block all entry points to prevent pests from entering
the kitchen or other storage areas.
Sweep the pellets away and clean the floor with
water and a cleaner and apply floor sanitizer.
Submit Answer
Answers
The action that they should take are:
Store food away from walls and dispose of trash regularly.Change humidity, light, and temperature conditions in the whole food service area.Block all entry points to prevent pests from entering the kitchen or other storage areas.Sweep the pellets away and clean the floor with water and a cleaner and apply floor sanitizer.What is pest infestation?Pest Infestation is the state of being invaded or overrun by pests or parasites.
To avoid pest infestation, it is important to keep the house clean.
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PNB Industries has 20 million shares of common stock outstanding with a market price of $18.00 per share. The company also has outstanding preferred stock with a market value of $50 million, and 500,000 bonds outstanding, each with face value $1,000 and selling at 97% of par value. The cost of equity is 15%, the cost of preferred is 12%, and the cost of debt is 8.50%. If PNB's tax rate is 40%, what is the WACC?A. 7.05%B. 9.47%C. 11.31%D. 11.83%
Answers
Answer:
B. 9.47%
Explanation:
Common Stock = 20,000,000*$18 = $360,000,000, so 360,000,000/895,000,000 = 0.4022
Preferred Stock= $50,000,000, so 50,000,000/895,000,000 = 0.0559
Bonds = 500,000*0.97*1000 = $485,000,000, so 485,000,000/895,000,000 = 0.05419
WACC = 0.4022*15% + 0.0559*12% + 0.5419*8.5%* (1 - 0.4)
WACC = 0.06033 + 0.006708 + 0.0276369
WACC = 0.0946749
WACC = 9.47%
Which of the following explains why products made under a command economy are more likely to be low quality?
O A) The workers who make them have little incentive to make them well.
O B) The workers who make them are not given quality-control guidelines.
O C) The workers who make them are left to manage production facilities on their own.
O D) The workers who make them are forced by tradition to use old-fashioned methods.
Answers
Answer:
O A) The workers who make them have little incentive to make them well.
Explanation:
In a command economy, the government does all the production through its agencies and institutions. The government employs all the workers. Public interest is the motive for engaging in commercial activities. Production is not profit-motivated; hence goods and services are availed to customers are low prices. The employees' pay is not high as organizations don't generate a lot of profits. Employee morale is low due to the low pay.
In command economies, there is no business competition. Government institutions are monopolies. Without competition, there is little innovation in the country. Employees are not challenged to develop new products as consumers have no other alternatives.
Alfred E. Old and Beulah A. Crane, each age 42, married on September 7,2017. Alfred and Beulah will file a joint return for 2019. Alfred's Social Security number is 111-11-1109. Beulah's Social Security number is 123-45-6780, and she adopted "Old" as her married name. They live at 211 Brickstone Drive, Atlanta, GA 30304. Alfred was divorce from Sarah Old in March 2016. Under the divorce agreement, Alfred is to pay Sarah $1,250 per month for the next 10 years or until Sarah's death, whichever occurs first. Alfred pays Sarah $15,000 in 2019. In addition, in January 2019, Alfred pays Sarah $50,000, which is designated as being for her share of the marital property. Also, Alfred is responsible for all prior years' income taxes. Sarah's Social Security number is 123-45-6788. Alfred's salary for 2019 is $150,000. He is an executive working for Cherry.Inc. (Federal I.D. No. 98-7654321). As part of his compensation package, Cherry provides him with group term life insurance equal to twice his annual salary. His employer withheld $24,900 for Federal income taxes and $8,000 for state income taxes. The proper amounts were withheld for FICA taxes. Beulah recently graduated from law school and is employed by Legal Aid Society.Inc. (Federal I.D. No. 11-1111111), as a public defender. She receives salary of $42,000 in 2019. Her employer withheld $7,500 for Federal income taxes and $2,400 for state income taxes. The proper amounts were withheld for FICA taxes. Alfred and Beulah had interest income of $500. They received $1,900 refund on their 2018 state income taxes. They claimed the standard deduction on their 2018 Federal income tax return. Alfred and Beulah pay $4,500 interest and $1,450 property taxes on their personal residence in 2019. Their charitable contributions total $2,400 (all to their church). They paid sales taxes of $1,400, for which they maintain the receipts. Alfred and Beulah have never owned or used any virtual currency, and they do not want to contribute to the Presidential Election Campaign. Compute the Old's net tax payable (or refund due) for 2019. Suggested software: ProConnect Tax Online
Answers
To compute the Olds' net tax payable (or refund due) for 2019, we need to gather all the relevant information and calculate their taxable income, apply the appropriate tax rates, deductions, and credits. Since the tax calculation involves various factors and tax laws, it would be best to use tax software such as ProConnect Tax Online or consult with a tax professional. The software will streamline the process and ensure accurate calculations based on the specific tax laws and regulations applicable to the Olds' situation.
Today is also the day on which your manager’s boss is collecting information about your manager’s leadership style so that they can give him a 360-degree appraisal. They assure you that your comments about your manager will remain confidential, but the nature of your thoughts is such that he probably would guess you are the person who made those comments. Specifically, you think that your manager takes offense easily, has a bad temper, and could be more effective in time management. Would you share your thoughts with your manager’s manager?
Answers
The decision to share feedback about a manager should be based on a careful evaluation of the potential impact and one's own personal values and goals.
Sharing negative feedback about a manager can be a delicate situation, especially when it may affect the manager's performance review and future career opportunities. Before deciding whether to share the thoughts with the manager's manager, it is important to consider the potential consequences and benefits of doing so.
If the feedback is constructive and could help the manager improve their leadership skills, it may be worth sharing with the manager's manager in a tactful and respectful manner. However, if the feedback is solely based on personal opinions and could harm the manager's reputation or career prospects, it may be best to keep those thoughts to oneself.
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On the 24th, a shooting incident occurred at a high school in St. Louis, Missouri, my country. A 19-year-old gunman opened fire on the campus, causing 2 deaths and 7 injuries, and was eventually shot dead by the police.
On October 25, St. Louis Mayor Tishaura Jones said that gun violence continues to take the lives of children and children in our country, and its severity is enough to become a "national emergency" and the government should take action. Police said at a news conference that day that the gunman was Orlando Harris, a 19-year-old male who just graduated from the high school last year.
Answers
The deaths at the high school in St. Louis, Missouri, United States show that an argument can indeed be made for tighter gun controls in the country.
Should there be tighter gun controls in the United States?The most recent tragedy that resulted from gun violence in the United States, was the killing of two people at the Central Visual and Performing Arts High School, St. Louis, Missouri, by a previous student of the school.
Over the years, there have been other instances of gun violence in American schools including the shooting at Uvalde, Texas that led to the deaths of 19 children.
The United States has the highest rates of gun ownership in the entire world as well as one of the highest rates for mass shooting. This means that there must be a correlation between the two. Nations that have tighter gun controls have lower rates of mass shooting.
There is therefore a good enough argument that the United States should introduce stricter and tighter gun controls in order to reduce the incidence of mass shootings, especially at schools.
The rest of the question is:
Does this shooting add more evidence for the argument for tighter gun control or less?
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Which of the following describes how farmers use GPS devices?
-to produce insect-resistant plants
-to locate their herds
-to use chemicals more efficiently
-to produce disease-resistant plants
Answers
Answer:
to locate their herds.
Explanation:
it's the only answer that makes sense because a gps would not do anything other than show where something is located
The risk-free rate of return is 4 percent, and the market return is 10 percent. The betas of Stocks A, B, C, D, and E are 0.85, 0.95, 1.20, 1.35, and 0.5, respectively. The expected rates of return for Stocks A, B, C, D, and E are 8%, 9%, 10%, 14%, and 6%, respectively. Which stock should a rational investor purchase?
Answers
Answer:
D
Explanation:
We have to determine the required rate of return
The required rate of return can be determined using the CAPM
Required return = risk free rate + (beta x market risk premium)
Market risk premium = market return - risk free rate = 10% - 4% = 6%
A = 4% + (0.85 x 6%) = 9.1%
B = 4% + (0.95 x 6%) = 9.7%
C = 4% + (1.2 x 6%) = 11.2%
D = 4% + (1.35 x 6%) = 12.1%
E = 4% + (0.5 x 6%) = 7%
Of the 5 stocks, stock D has a higher expected return compared to the required return and a rational investor would purchase this stock
You see me now 4 kkt
Answers
Answer:
ncvbhrdfh
Explanation:
Answer:
hgfjttfgk,jnhlkgfk,hjlhj
Explanation:
How does context influence your communication? Consider the language and culture people grew up with, and the role these play in communication styles?
Answers
Daily communication is highly influenced by the context in which it develops due to the cultural aspects of society.
What is communication?Communication is a process by which an individual or group transmits a message to one or more recipients. Human communication is a complex process influenced by different factors such as:
The cultural context.The thought of the sender.The receiver's interpretation.The cultural context plays a fundamental role in communication because some concepts or expressions have different senses or meanings in different societies.
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. The 14th amendment outlines the path for citizenship in the United States. What are the ways you can be a citizen in this country? (3 points)
*
3 points
completing the naturalization process
immigrating from a different country
Being born on American soil
Being a natural-born child of American citizens
knowing all 50 state capitals
saying the pledge of allegiance
Answers
The 14th Amendment outlines the path to citizenship in the United StatesSome the ways you can be a citizen in this country is
completing the naturalization processBeing born on American soilBeing a natural-born child of American citizensThe United States Constitution's 14th Amendment was approved in 1868. It was passed in response to the post-Civil War citizenship debate involving former slaves.
Being a natural-born citizen of the United States means that you automatically became one when you were born to parents who were both citizens of the country. Being born on american Soil will also give citizenship.
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Suppose a monopolist produces in a market with two distinct segments: market 1, which is denoted as M1 on the graph, and market 2, denoted as M2. The firm's marginal and average costs are $20.
Answers
A monopolist is an individual, gathering, or organization that controls each of the business sectors for a specific decent or administration. The profit in market 1 is $1,600, The profit in market 2 is $450 and Demand is more elastic in market 2
(A) Profit = Total revenue - total cost = P*Q - MC*Q = (P-MC)*Q
Profit in market 1
P1 = $60, Q1 = 40, and MC = $20
So, Profit in market 1 = (60-20)*40 = 40*40 = $1,600
(B) Profit in market 2
P2 = $35, Q2 = 30, and MC = $20
So, Profit in market 2 = (35-20)*30 = 15*30 = $450
(C) Demand is more elastic in market 2 as a monopolist charges a lower price in the more elastic market so as P2 < P1 then market 2 is more elastic.
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This question is not complete, Here I am attaching the complete question: also, attaching the diagram
Suppose a monopolist produces in a market with two distinct segments: market 1, which is denoted as M1 on the graph, and market 2, denoted as M2. The firm's marginal and average costs are $20.
(A) What is the profit of market 1?
(B) What is the profit of market 2?
(C) In which market is demand more elastic?
1. Complete the following financial statements of Omega Company on the basis of the ratios given below.
omega company Income Statement for the year ended June 30 2001
Sales 2000000
Cost of Goods sold 600000
Gross profit 1400000
Operating Expenses. 1190000
Earning Before Interest and Tax. ? Debenture Interest. 10000
Income Tax. ?
Net Profit ?
Omega Company Income Statement For the year ended June 30 2001
Assets liabilities
Cash ? sundry creditors 60000
Stocks ? 10% debentures ?Debiors. ? Total liabilities. ?
total Current Assets ? reserve and surplus ?
Fixed Assets. ? share capital ?
Total Assets total liability and equity ?Additional Information
A. Net Profit to Sale Times 5%
B. Current Ratio. 1.5
C.Return on Net Worth 20%
D. Inventory Turnover 15
E Share Capital to Reserve 4:1
F. Tax Rate 50%
Answers
To complete the financial statements of Omega Company for the year ended June 30, 2001, we can use the provided ratios and additional information.
A. Net Profit to Sales Ratio = 5%
Net Profit = Net Profit to Sales Ratio * Sales
Net Profit = 0.05 * $2,000,000 = $100,000
B. Current Ratio = 1.5
Current Assets = Current Ratio * Total Liabilities
Total Liabilities = $60,000 (sundry creditors)
Current Assets = 1.5 * $60,000 = $90,000
C. Return on Net Worth = 20%
Net Worth = Net Profit / Return on Net Worth
Net Worth = $100,000 / 0.2 = $500,000
D. Inventory Turnover = 15
Cost of Goods Sold = Sales / Inventory Turnover
Cost of Goods Sold = $2,000,000 / 15 = $133,333
E. Share Capital to Reserve Ratio = 4:1
Share Capital = (4 / 5) * Reserve and Surplus
Share Capital = (4 / 5) * Net Worth = (4 / 5) * $500,000 = $400,000
Reserve and Surplus = $500,000 - $400,000 = $100,000
F. Tax Rate = 50%
Income Tax = Tax Rate * Net Profit
Income Tax = 0.5 * $100,000 = $50,000
Now we can complete the financial statements:
Omega Company Income Statement for the year ended June 30, 2001:
Sales: $2,000,000
Cost of Goods Sold: $600,000
Gross Profit: $1,400,000
Operating Expenses: $1,190,000
Earnings Before Interest and Tax: $210,000 (Gross Profit - Operating Expenses)
Debenture Interest: $10,000
Income Tax: $50,000
Net Profit: $100,000 (Earnings Before Interest and Tax - Debenture Interest - Income Tax)
Omega Company Balance Sheet as of June 30, 2001:
Assets:
Cash: To be determined
Stocks: To be determined
Debtors: To be determined
Fixed Assets: To be determined
Total Assets: To be determined
Liabilities:
Sundry Creditors: $60,000
10% Debentures: To be determined
Total Liabilities: To be determined
Equity:
Share Capital: $400,000
Reserve and Surplus: $100,000
Total Liability and Equity: To be determined
Please note that the values for Cash, Stocks, Debtors, Fixed Assets, 10% Debentures, Total Assets, Total Liabilities, and Total Liability and Equity need to be provided in order to complete the financial statements accurately.
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A company purchased $3,300 of merchandise on July 5 with terms 3/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Answers
The correct journal entry would be Debit Accounts Payable $2,300 ; Credit Merchandise Inventory $46 and Credit Cash $2,254.
A bookkeeping method known as the double entry or journal entry involves recording transactions in two or more accounts. The majority of transactions involve two accounts. The difference between the two accounts gets credited to the other. Moreover, both accounts could be credited or debited. More than two entries may be necessary for some transactions. The transactions that have an impact on more than two accounts are those. For instance, things that are discounted or that are partially paid for with credit and partially with cash. Compound entries are used in the journals for these transactions.
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The complete question is: A company purchased $3,200 of merchandise on July 5 with terms 2/10, n/30. On July 7, it returned $900 worth of merchandise. On July 12, it paid the full amount due. Assuming the company uses a perpetual inventory system, and records purchases using the gross method, the correct journal entry to record the payment on July 12 is:
Which of the following statements accurately describes how an event will impact supply? Choose 1 answer: Choose 1 answer: (Choice A) A An increase in costs of production will cause an increase in the supply curve (Choice B) B An increase in demand will cause an increase in supply (Choice C) C An increase in price will cause supply to increase (Choice D) D A decrease in price will cause supply to increase (Choice E) E A decrease in resource costs will cause an increase in the supply curve
Answers
The statement that accurately describes how an event will impact supply is option B An increase in demand will cause an increase in supply.
What happens when supply and demand both rise?If demand and supply both rise, more will be purchased by consumers and more will be produced by businesses. The impact on price will, however, depend on the relative amount of the two changes because consumers place a higher value on each unit while producers are willing to supply each unit at a lower price.
Therefore, With everything else remaining the same, an increase in demand will result in a rise in the equilibrium price and an increase in supply. Reduced demand will result in a drop in the equilibrium price and a reduction in supply.
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A few years ago the British government was considering retiring, or buying back from investors, some outstanding consols that had annual coupons of . A consol is: A. a coupon bond that pays a variable coupon and has a fixed maturity date. B. a coupon bond that pays a fixed coupon rate and does not mature. C. a coupon bond that pays a variable coupon rate and does not mature. D. a coupon bond that pays a fixed coupon rate and has a fixed maturity date. If the yield to maturity on other long-term British government bonds was %, the price the British government is likely to offer investors is £ nothing. (Enter your response to a nearest dollar.)
Answers
Answer:
a coupon bond that pays a fixed coupon rate and does not mature
Explanation:
If the cost of the beginning work in process inventory is $60,000, costs of goods manufactured is $890,000, direct materials cost is $330,000, direct labor cost is $210,000, and overhead cost is $315,000, calculate the ending work in process inventory.a. $350,000
b. $35,000. c. $355,000. d. $45,000. e. $25,000.
Answers
Answer:
Ending WIP= $25,000
Explanation:
To calculate the ending work in process, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
890,000 = 60,000 + 330,000 + 210,000 + 315,000 - Ending WIP
Ending WIP= 915,000 - 890,000
Ending WIP= $25,000
In a paragraph of 250 words or less, please discuss areas of outstanding achievements. Give examples such as scholarships, leadership roles, major projects, work experience, etc. Outstanding achievements will be reviewed by all selected major choices to which you apply.
Answers
Explanation:
Writing a scientific article at the university can be a remarkable and relevant achievement as this article seeks to find solutions to problems faced by today's society. An example is a scientific project in the area of environmental management that seeks to develop explanations and solutions applicable to companies for the implementation of environmental programs and certifications, it is a project that will contribute to the reduction of impacts to the environment and to the valorization of local communities and producers. .
However, it is necessary that the environmental management project presents solutions that benefit both the organization and the environment in fact, as organizations as profitable entities will implement some social and environmental benefit program if it is legally necessary or bring strategic and competitive benefits.
Consider total cost and total revenue, given in the following table:
In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.)
Total Cost Marginal Cost
(Dollars)
Quantity (Dollars)
0
1
2
3
4
5
6
7
5
6
8
11
15
20
26
35
05
06
07
Total Revenue Marginal Revenue
(Dollars)
(Dollars)
0
6
12
18
24
30
36
42
AAAAAAA
Profit
(Dollars)
In order to maximize profit, how many units should the firm produce? Check all that apply.
04
Answers
The solution to the given question when we consider total cost and total revenue, given in the following table:
The Financial TableQuantity | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue | Profit
------- | -------- | -------- | -------- | -------- | --------
0 | 5 | 5 | 0 | 0 | -5
1 | 11 | 6 | 6 | 6 | 1
2 | 17 | 6 | 12 | 6 | 5
3 | 24 | 7 | 18 | 6 | 4
4 | 31 | 8 | 24 | 6 | -7
5 | 39 | 8 | 30 | 6 | -9
6 | 47 | 8 | 36 | 6 | -11
7 | 55 | 8 | 42 | 6 | -13
As you can see, the firm's profit is maximized at quantity 3. This is because the marginal revenue is equal to zero at this point, which means that the firm is not making any additional profit by producing more units. In fact, if the firm produces more units, it will actually start to lose money.
Therefore, the answer to the question is 3.
In summary:
The firm's profit is maximized at quantity 3.This is because the marginal revenue is equal to zero at this point.If the firm produces more units, it will start to lose money.Therefore, the answer to the question is 3.Read more about marginal revenue here:
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