QUESTION Under perfect competition, where in the long run firms earn zero economic profit, do sellers have a preference of earning zero economic profit with their product being sold at a higher price or a lower price? ANSWER: REQUEST HELP FROM A TUTOR
Date: September 2nd, 2020
QUESTION Suds & Cuts is a local pet grooming shop owned by Collin Bark. Collin has prepared the following standard cost card for each dog bath given:Standard QuantityStandardRateStandardUnit Cost Shampoo2 oz.$0.10per oz.$0.20 Water20 gal.$0.05per gal.1.00 Direct labor0.75 hr.$9.00per hr.6.75 During the month of July, Collinâs employees gave 360 baths. The actual results were 725 ounces […]
Date: September 2nd, 2020
QUESTION Assgnmt 3.pdfEach identical consumer has the following demand for golf, q = 100-p, where q is the number of rounds of golf played per year and p is the price per round. The only golf course in an isolated town incurs a marginal cost of $10 per round of golf, which is equal to […]
Date: September 2nd, 2020
QUESTION E9-13 Determining Actual Costs, Standard Costs, and Variances [LO 9-3, 9-4]Amber Company produces iron table and chair sets. During October, Amberâs costs were as follows: Actual purchase price$ 2.30 per lb. Actual direct labor rate$ 7.50 per hour Standard purchase price$ 2.10 per lb. Standard quantity for sets produced970,000 lbs. Standard direct labor hours […]
Date: September 2nd, 2020
QUESTION 1. (25 points) A weapons producer sells guns to two countries that are at war with each other. The guns can be produced at a constant marginal cost of $5. The demand for guns from the two countries can be represented as:QA =100-2p QB =80-4p(a) (6 points) Why is the weapons producer able to […]
Date: September 2nd, 2020
QUESTION Acoma, Inc., has determined a standard direct materials cost per unit of $8 (2 feet à $4 per foot). Last month, Acoma purchased and used 4,200 feet of direct materials for which it paid $15,750. The company produced and sold 2,000 units during the month.Calculate the direct materials price, quantity, and spending variances. (Indicate […]
Date: September 2nd, 2020
QUESTION The price level was 145 and the quantity of real GDP supplied was $500 billion. This year, the economy is producing at point B. The price level has fallen to 135 and the quantity of real GDP supplied has fallen to $300 billion. Government officials are confused about why the quantity of output moved […]
Date: September 2nd, 2020
QUESTION When preparing a companyâs flexible budget, which manufacturing cost(s) will change as the volume increases or decreases? (You may select more than one answer. Single click the box with a check mark for correct answers and double click to empty the box for the wrong answers.)Direct LaborVariable Manufacturing OverheadDepreciationFixed Manufacturing OverheadDirect MaterialsWhich manufacturing cost(s) […]
Date: September 2nd, 2020
QUESTION January 11th Received a check in the amount of $55.00 from the Office Shack for return of some of the office supplies purchased for cash on January 9th. Where and what journal would this be recording in accounting? ANSWER: REQUEST HELP FROM A TUTOR
Date: September 2nd, 2020
QUESTION Nick and Jolene are married. Nick is 61 and retired in 2012 from his job withAmalgamated Company. Jolene is 56 and works part-time as a special educationteacher. Nick and Jolene have a substantial amount of investment savings andwould like to reorganize it to achieve the best after-tax return on their investments.They give you the […]
Date: September 2nd, 2020
