Answer:
$1800; $1700.
Explanation:
The scenario presented is that a customer had a choice between two computers. The client spent much money by opting for the high priced computer, leaving little for other requirements. The options will a high figure comes first in the equation. If the customer could have picked a low-priced computer, somebody would have selected the options that start with a relatively low figure followed by a high
Answer: 1800 1700
Explanation:
A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: Selling price $ 145 Units in beginning inventory 0 Units produced 2,440 Units sold 2,280 Units in ending inventory 160 Variable costs per unit: Direct materials $ 49 Direct labor $ 17 Variable manufacturing overhead $ 17 Variable selling and administrative expense $ 10 Fixed costs: Fixed manufacturing overhead $ 85,400 Fixed selling and administrative expense $ 22,800 The total gross margin for the month under absorption costing is:
Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary fixed manufacturing overhead:
Unitary fixed overhead= 85,400/2,440= $35
Absorption costing income statement:
Sales= 2,280*145= 330,600
COGS= 2,280* (49 + 17 + 17 + 35)= (269,040)
Gross profit= 61,560
Total selling and administrative= 22,800 + (2,280*10)= (45,600)
Net income= 15,960
Which term describes the reliance of different functional areas upon each other? O A. Interpretation B. Independence O C. Inclination D. Interdependence
Answer:
D. Interdependence
Explanation:
Interdependence is a condition of mutual dependence among people or things. It is a situation where two or more individuals, companies, or countries rely on one another in various aspects. A state where multiple parties depend on each other to thrive.
When different functions or departments depend on each other to succeed, they are said to be interdependent. It implies that a function is likely to fail if it opts to operate on its own.
Read the paragraph describing how to write a résumé and correctly fill in the missing information.
When writing your résumé, you need to start by analyzing the job description to determine what relevant experience and qualifications you have for the position. Then, you should list your job history, using ____ to make them easy to read. Review the layout to make sure that it is easy to read and ______.
Answer:
1. Bullet Points
2. Scan
Explanation:
I took the test and got it right. Hope this helps! :)
Answer:
Bullet pointsScanExplanation:
Both of these are important. Bullet points are for short sentences, they make it easier for the reader to read. Scan is right because it is referring to bullet points, which make it easier for a reader to scan the page, and not have to search specifically for any one thing.
Select the correct answer.
To qualify as a business analyst, which degree or certification should you ideally have?
O A.
bachelor's degree in software testing
OB.
bachelor's degree in business administration or information technology
C.
bachelor's degree in quality assurance
D.
master's degree in social sciences
Answer:
B
Explanation:
Just took the test
Economies of scope A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation. B. arise only from strategic fit relationships in the production portions of the value chains of sister businesses. C. are more associated with unrelated diversification than related diversification. D. are present whenever diversification satisfies the attractiveness test and the cost-of-entry test. E. arise mainly from strategic fit relationships in the distribution portions of the value chains of unrelated businesses.
Answer:
A. are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Explanation:
Economies of scope occur when a good is manufactured, the cost of manufacturing a related goods is reduced. It means that there would be reduction in the cost of production of a goods as a result of increase in variety of goods. It is a situation whereby the cost of producing two products is less compare to when that product is produce separately.
It should be noted that economy of scope are cost reductions that flow from cost-saving strategic fits along the value chains of related businesses in the business lineup of a multibusiness corporation.
Start with the beginning balances for these T-accounts: Accounts Receivable, $100,000, Allowance for Uncollectible Accounts, $14,000. Post the following 2018 transactions to the T-accounts: a. Service revenue of $697,000, all on account b. Collections on account, $714,000 c. Write-offs of uncollectible accounts, $8,000 d. Uncollectible-account expense (allowance method), $11,000. What are the ending balances of Accounts Receivable and Allowance for Uncollectible Accounts?
Answer:
T-accounts:
The ending balances of Accounts Receivable and Allowance for Uncollectible Accounts are:
Accounts Receivable = $75,000
and
Allowance for Uncollectible Accounts = $17,000
Explanation:
Accounts Receivable
Accounts Title Debit Credit
Balance $100,000
Service Revenue 697,000
Cash $714,000
Uncollectible written off $8,000
Balance $75,000
Allowance for Uncollectible Accounts
Accounts Title Debit Credit
Balance $14,000
Uncollectible written off $8,000
Uncollectible Expense 11,000
Balance 17,000
Diego Company manufactures one product that is sold for $80 per unit in two geographic regions—the East and West regions. The following information pertains to the company’s first year of operations in which it produced 40,000 units and sold 35,000 units. Variable costs per unit: Manufacturing: Direct materials $ 24 Direct labor $ 14 Variable manufacturing overhead $ 2 Variable selling and administrative $ 4 Fixed costs per year: Fixed manufacturing overhead $ 800,000 Fixed selling and administrative expense $ 496,000 The company sold 25,000 units in the East region and 10,000 units in the West region. It determined that $250,000 of its fixed selling and administrative expense is traceable to the West region, $150,000 is traceable to the East region, and the remaining $96,000 is a common fixed expense. The company will continue to incur the total amount of its fixed manufacturing overhead costs as long as it continues to produce any amount of its only product. Foundational 7-1 Required: 1. What is the unit product cost under variable costing?
Answer:
Total unitary variable production cost= $40
Explanation:
Giving the following information:
Variable costs per unit:
Direct materials $24
Direct labor $14
Variable manufacturing overhead $2
The variable costing method incorporates all variable production costs (direct material, direct labor, and variable overhead).
Total unitary variable production cost= 24 + 14 + 2
Total unitary variable production cost= $40
A recent market study has determined that the probability that a young adult will be willing to try a new online financial service that your company is offering is 50%. In a random sample of 10 young adults, the probability that at least 2 but no more than 3 will be willing to try this new service is _________
Answer:
yo faith are u that one guy in osceola high school
Describe a scenario that forced you to wrestle with your values?
Answer:
To use brainly or to not use brainly. I dont like cheating but sometimes I realy need help.
Explanation:
Vanessa Jones is the assistant chief accountant at IBT Company, a manufacturer of computer chips and cellular phones. The company presently has total sales of $20 million. It is the end of the first quarter and Vanessa is hurriedly trying to prepare a trial balance so that quarterly financial statements can be prepared and released to management and the regulatory agenicies. THe total credits on the trial balance exceed the debits by $1,000.
In order to meet the 4pm deadline, Vanessa decides to force the debits and credits into balance by adding the amount of the difference to the Equipment account. She chose Equipment because it is one of the larger account balances; percentage wise, it will be the least misstated. Vanessa plugs the difference! She believes that the difference is quite small and will not affect anyone's decisions. She wishes that she had another few days to find the error but realizes that the financial statements are already late.
A. Who are the stakeholders in this situation?
B. What ethical issues are involved?
C. What are Vanessa's alternatives?
Answer and Explanation:
The stakeholders include:
1. The rush in preparing the financial statements for the quarter
2. The overstatement of an account by $1000 on either the debit or credit side of the trial balance
Ethical issues:
1. She has been dishonest by plugging a figures $1000 into a wrong account
2. There could be loss of cash as the difference of $1000 could be caused by a liability account
Alternatives:
1. A suspense account could have been opened for the difference of $1000 and plugged into the trial balance
2. An account with the difference $1000 unknown could have been opened
Exhibit 4.1 The balance sheet and income statement shown below are for Koski Inc. Note that the firm has no amortization charges, it does not lease any assets, none of its debt must be retired during the next 5 years, and the notes payable will be rolled over. Balance Sheet (Millions of $) Assets 2019 Cash and securities $4,200 Accounts receivable 17,500 Inventories 20,300 Total current assets $42,000 Net plant and equipment $28,000 Total assets $70,000 Liabilities and Equity Accounts payable $22,509 Accruals 14,391 Notes payable 6,000 Total current liabilities $42,900 Long-term bonds $11,000 Total liabilities $53,900 Common stock $3,542 Retained earnings 12,558 Total common equity $16,100 Total liabilities and equity $70,000 Income Statement (Millions of $) 2019 Net sales $105,000 Operating costs except depreciation 97,650 Depreciation 2,100 Earnings before interest and taxes (EBIT) $5,250 Less interest 1,020 Earnings before taxes (EBT) $4,230 Taxes 1,058 Net income $2,538 Other data: Shares outstanding (millions) 500.00 Common dividends (millions of $) $888.30 Int rate on notes payable & L-T bonds 6% Federal plus state income tax rate 40% Year-end stock price $60.91 Refer to Exhibit 4.1. What is the firm's total debt to total capital ratio? Do not round your intermediate calculations. a. 47.76% b. 51.36% c. 43.14% d. 58.04% 5 points Save Answer Question 19 of 20 Moving to another question will save this response.
Answer:
77%
Explanation:
Total debt to total capital ratio = Total liabilities / Total assets
Total debt to total capital ratio = $53,900 / $70,000
Total debt to total capital ratio = 0.77
Total debt to total capital ratio is the ratio of its total debt to its total capital, its debt and equity combined and it is use to measure a company financial solvency.
The manufacturing overhead budget at Franklyn Corporation is based on budgeted direct labor-hours. The direct labor budget indicates that 3,900 direct labor-hours will be required in January. The variable overhead rate is $7 per direct labor-hour. The company's budgeted fixed manufacturing overhead is $43,230 per month, which includes depreciation of $3,530. All other fixed manufacturing overhead costs represent current cash flows. The January cash disbursements for manufacturing overhead on the manufacturing overhead budget should be:
Answer:
$67,000
Explanation:
Calculation for the cash disbursements for manufacturing overhead
Using this formula
Cash disbursements = Variable + Fixed
Let plug in the formula
Cash disbursements= (3,900*$7) + (43,230 - 3,530)
Cash disbursements= 27,300+ 39,700
Cash disbursements=$67,000
Therefore the cash disbursements for manufacturing overhead will be $67,000
Texteriles Company creates different types of bolts of cloth. These bolts of cloth are made on the same machinery. The textile machines have the capacity of 3,600 hours per month. Texteriles is considering producing three different types of cloth: denim, chenille, and gauze, with contribution margins per bolt of $14, $22, and $9, respectively. Texteriles knows it can sell only a total of 6,000 bolts of denim, 2,000 bolts of chenille, and/or 1,200 bolts of gauze. A bolt of each type of cloth requires a different amount of machine time as follows: denim takes 0.5 machine-hours, chenille takes 1 machine-hour, and gauze takes 0.3 machine-hours. What combination of products will maximize the profits of Texteriles
Answer:
Combination of products shall be:
Denim = 6,000 bolts
Chenille = 240 bolts
Gauze = 1,200 bolts
Explanation:
As provided the machine hours are limited thus, the constraint is machine hours.
Accordingly contribution per machine hour shall be computed.
Denim has contribution of $14 for each 0.5 machine hour, thus, contribution per hour = [tex]\frac{14}{0.5} = 28[/tex]
Chenille has contribution of $22 per machine hour
Gauze has contribution of $9 per 0.3 hours, thus contribution per machine hour = [tex]\frac{9}{0.3}[/tex] = $30
According to contribution per hour, ranking of products shall be
Gauze I
Denim II
Chenille III
Therefore, bolts of gauze to be produced = 1,200 that is maximum
Hours required = 1,200 [tex]\times[/tex] 0.3 = 360
Hours remaining = 3,600 - 360 = 3,240
Bolts of Denim to be produced = 6,000 that is maximum
Hours required = 6,000 [tex]\times[/tex] 0.5 = 3,000
Hours remaining = 3,240 - 3,000 = 240
Bolts of Chenille that can be produced = [tex]\frac{240\ hours}{1\ bolt\ per\ hour}[/tex] = 240 bolts
Total contribution in this case
= (1,200 [tex]\times[/tex] $9) + (6,000 [tex]\times[/tex] $14) + (240 [tex]\times[/tex] $22)
= ($10,800 + $84,000 + $5,280)
= $100,080
Presented here are the components in Oriole Company’s income statement. Determine the missing amounts. Sales Revenue Cost of Goods Sold Gross Profit Operating Expenses Net Income Year 1 $ 72,660 $Enter a dollar amount for year 1 (b) $ 31,100 $Enter a dollar amount for year 1 (d) $13,290 Year 2 $108,500 $72,200 $Enter a dollar amount for year 2 (c) $Enter a dollar amount for year 2 (e) $29,900 Year 3 $Enter a dollar amount for year 3 (a) $73,190 $112,180 $46,690 $Enter a total net income for year 3 (f)
Answer:
Oriole Company
Income Statement
Sales Cost of Gross Operating Net
Revenue Goods Sold Profit Expenses Income
Year 1 $ 72,660 $ 41,560 $ 31,100 $ 17,810 $13,290
Year 2 $108,500 $72,200 $ 36,300 $ 6,400 $29,900
Year 3 $ 185,300 $73,190 $112,180 $46,690 $65,490
Explanation:
Data:
Year 1 $ 72,660 $Enter a dollar amount for year 1
(b) $ 31,100 $Enter a dollar amount for year 1
(d) $13,290 Year 2 $108,500 $72,200 $Enter a dollar amount for year 2
(c) $Enter a dollar amount for year 2
(e) $29,900 Year 3 $Enter a dollar amount for year 3
(a) $73,190 $112,180 $46,690 $Enter a total net income for year 3 (f)
Arrangement:
Sales Cost of Gross Operating Net
Revenue Goods Sold Profit Expenses Income
Year 1 $ 72,660 $ $ 31,100 $ $13,290
Year 2 $108,500 $72,200 $ $ $29,900
Year 3 $ $73,190 $112,180 $46,690 $
The U.S. Senate has 100 members. Suppose there are 54 Republicans and 46 Democrats. A committee of 15 senators is selected at random. What is the expected number of Republicans on this committee? 9.0 7.1 8.1 6.7
Lexington Company engaged in the following transactions during Year 1, its first year in operation: (Assume all transactions are cash transactions.) Acquired $3,200 cash from issuing common stock. Borrowed $2,300 from a bank. Earned $3,200 of revenues. Incurred $2,420 in expenses. Paid dividends of $420. Lexington Company engaged in the following transactions during Year 2: (Assume all transactions are cash transactions.) Acquired an additional $600 cash from the issue of common stock. Repaid $1,370 of its debt to the bank. Earned revenues, $4,600. Incurred expenses of $2,790. Paid dividends of $760. What was the amount of retained earnings that will be reported on Lexington's balance sheet at the end of Year 1?
Answer:
Retained Earnings Balance at end of Year 1 = $360
Explanation:
First we need to determine the profit/loss for the year as part of the retained earnings calculation.
Lexington Company
Income Statement for the year ended - Year 1
Revenue Earned $3,200
Less Expenses ($2,420)
Net Income / (Loss) $780
Then we calculate the Retained Earnings Balance
Retained Earnings Statement
Beginning Retained Earnings Balance $ 0
Add Profit earned during the year $780
Less Dividends ($420)
Ending Retained Earnings Balance $360
tina is the sole owner of tina's lawn mowing, incorporated (TLM). In one year TLM collects $1,000,000 from customers to mow their lawns. TLM equipment depreciates in value by $125,000. TLM pays $600,000 to its workers who pay $140,000 in taxes on this income. TLM pays $50,000 in corporate income taxes and pays Tina a dividend of $150,000. Tina pays taxes of $60,000 on this dividend income. TLM retains $75,000 of earnings in the business to finance future expansion. How much does this economic activity contribute to each of the following
Answer: See explanation
Explanation:
This is the remainder of the question:
How much does this economic activity contribute to GDP, NNP, National income, compensation of employees, Proprietors' Income, corporate profits, personal income, disposable personal income?
a. GDP – $1,000,000
The GDP is the value for the goods and services that a country sells. To loan customers lawns, Tina collects $1,000,000.
b. NNP – $875,000
NNP = GDP - Depreciation
= $1000000 - $125000
= $875000
c. National income – $875,000
d. Compensation of employees- $600,000
This is the amount paid by the company to its workers for work done as wages and salaries.
e. Proprietors’ income – $0
Because it is a Corporation, this will be $0.
f. Corporate profits – $275,000
This will be:
= $50,000 + $150,000 + $75000
= $275000
g. Personal income – $750,000
= NNP + Dividend - Profit
= $875000 + $150000 - $275000
= $750000
h. Disposable personal income – $550000
= $750000 - $60000 - $140000
= $550000
The preemployment stage of organizational socialization would be more effective if Multiple Choice job applicants distorted their resume in order to get the job offered. job applicants did not ask questions during their interview. employees engage in impression management. employers provide only positive information about the job. employers and job applicants gave and received accurate information about each other.
Answer:
Employees and job applicants gave and recieved accurate information about each other.
Explanation:
Organisational socialisation is that stage of employment where the new intakes learn more about the attitudes, knowledge, skills, and expectations of a new role.
This stage will be more successful if both employees and employers give accurate information about themselves.
The employer will know how much to expect of the employee as regards performance and adopting the company culture.
Employees will know what to expect on the job. It will reduce disappointment and tendency of leaving in the near future.
The stock of Pills Berry Company is currently selling at $90 per share. The firm pays a dividend of $2.75 per share. a. What is the annual dividend yield? (Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places.) b. If the firm has a payout rate of 40 percent, what is the firm’s P/E ratio? (Do not round intermediate calculations and round your answer to 2 decimal places.)
Answer:
a. 3.06%
b. 13.04
Explanation:
The computation is shown below:-
a. Annual dividend yield = Annual dividend ÷ Current stock price
= $2.75 ÷ $90
= 3.06%
b. P/E ratio = Market price ÷ Earning per share
= $90 ÷ $6.9
= 13.04
where, EPS = $2.75 ÷ 40%
= $6.9
We simply applied the above formula and the same is to be considered
so that the correct answer could come
Although fiscal policy may theoretically achieve the desired result in an economy, the time it takes for it to be approved and implemented, known as
Answer:
The appropriate answer is "time lag".
Explanation:
The time taken towards enacting a program after it has been accepted is referred to those as time lag. The consequences of interventions are not necessarily recognized throughout the economy due to various time lags. Therefore, although monetary policy, described as time lag, will potentially produce the expected outcome during an economy, the time it would take to be accepted as well as enforced.Multiple Choice Question 57 A company just starting business made the following four inventory purchases in June: Date Number of units purchased Total cost June 1 190 units $ 410 June 10 200 units 580 June 15 200 units 650 June 28 200 units 510 $2150 A physical count of merchandise inventory on June 30 reveals that there are 270 units on hand. Using the LIFO inventory method, the value of the ending inventory on June 30 is
Answer:
Ending inventory cost= $642.4
Explanation:
Giving the following information:
Date Number of units purchased Total cost
June 1 190 units $ 410 ($2.16)
June 10 200 units 580 ($2.9)
June 15 200 units 650
June 28 200 units 510
Ending inventory in units= 270
To calculate the value of ending inventory under the LIFO (last-in, first-out), we need to use the cost of the firsts units incorporated into inventory.
Ending inventory cost= 190*2.16 + 80*2.9
Ending inventory cost= $642.4
You are meeting with your company’s raw materials purchasing agents. As a group, you are discussing when raw materials orders should be placed based on production needs and supplier lead times. You have compiled the following production needs and lead time information: After you place an order for raw materials, the shipment usually arrives at your warehouse five days later. You determined that your production processes use about 300 units of raw materials per day. You want to keep your inventory carrying costs down and your supplier has a 100% on time-delivery rate. As a result, you decide to carry no inventory buffer. Based on the information presented and given your daily raw materials usage and the lead time for raw materials orders, what minimum units of raw materials inventory should your company maintain at all times?
Answer:
this company's reorder point should be 1,500 units of raw materials.
Explanation:
The reorder point is the minimum level that you can hold on inventory before purchasing more materials. It is calculated by multiplying a company's daily needs (300 units per day) x the delivery lead time (5 days) = 1,500 units.
If the company decided to keep a safety stock, then in order to determine the minimum inventory level you would need to add the desired safety stock + 1,500 units.
COSO’s Internal Control Model has five components and 17 principles. Which of the following is(are) principle(s) of the control environment component? (Check all that apply.) A. A commitment to attract, develop, and retain competent individuals in alignment with objectives B. Commitment to integrity and ethics C. Holding individuals accountable for their internal control responsibilities in pursuit of objectives D. Considering the potential of fraud E. Selecting, developing, and performing ongoing or separate evaluations of the components of internal control
Answer:
COSO’s Internal Control Model
Selection of the principle(s) of the control environment component:
A. A commitment to attract, develop, and retain competent individuals in alignment with objectives
B. Commitment to integrity and ethics
C. Holding individuals accountable for their internal control responsibilities in pursuit of objectives
Explanation:
These two are not part of the five principles of the control environment:
D. Considering the potential of fraud
E. Selecting, developing, and performing ongoing or separate evaluations of the components of internal control
Specifically, the COSO framework principles on the control environment are:
1. Commitment to integrity and ethical values
2. Ensuring that the board of directors exercises oversight responsibility
3. Establishment of structures, reporting lines, authorities, and responsibilities
4. Commitment to a competent workforce
5. Holding people accountable
Students, Mark and Sarah, are discussing expectations of warehouses today. Mark says that warehouses are expected to execute more transactions in less time. Sarah says that warehouses are expected to handle and store more items. Which student, Mark or Sarah, is correct?
A. Mark is correct
B. Sarah is correct
C. Both is correct
D. Neither is correct
Don James purchased a new automobile for $19,000. Don made a cash down payment of $4,750 and agreed to pay the remaining balance in 30 monthly installments, beginning one month from the date of purchase. Financing is available at a 24% annual interest rate. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Required: Calculate the amount of the required monthly payment. (Do not round intermediate calculations. Round your final answer to nearest whole dollar amount.)
Answer:
$636.26 ≈ $636
Explanation:
we can use the present value of an annuity formula to determine the monthly payment:
PV = monthly payment x annuity factor
monthly payment = PV / annuity factor
PV = $19,000 - $4,750 = $14,250PV annuity factor, 2%, 30 periods = 22.3965monthly payment = $14,250 / 22.3965 = $636.26 ≈ $636
because most businesses dont have a one-size-fits-all aproach, what do you need to do?
Answer:
Add your creativity to the existing problem and make it unique for it to suit others.
as of December 31, 2020, was as follows: Common stock, par value $2; authorized 20,000 shares; issued and outstanding 10,000 shares $ 20,000 Paid-in capital in excess of par 30,000 Retained earnings 85,000 Total Stockholders' Equity $135,000 On March 1, 2021, the board of directors declared a 15% stock dividend, and accordingly 1,500 additional shares were issued. On March 1, 2021, the fair value of the stock was $6 per share. For the two months ended February 28, 2021, Firm ABC sustained a net loss of $15,000. What amount should Firm ABC report as retained earnings as of March 1, 2021
Answer:
$ 61,000
Explanation:
Calculation for the amount that Firm ABC should report as retained earnings as of March 1, 2021
Retained earnings Balance $ 85,000
Less: Shares issued ($9,000)
(1500 *$6 per share)
Less: Net Loss ($15,000)
Ending Balance $61,000
Therefore the amount that Firm ABC should report as retained earnings as of March 1, 2021 will be $61,000
PLEASE HELPP
Which descriptions offer examples of Professional Support Services workers? Check all that apply.
Milo tutors students outside of normal school hours to help them prepare for exams.
Missy assists a high school science teacher and provides additional instruction.
Gus works in a library and responds to requests from people who need help using services.
Lauren teaches students about business and computing.
Kami advises students to help them make decisions about their education and careers.
Donny creates instructional workbooks and other materials for teachers and students.
Answer:
Gus works in a library and responds to requests from people who need help using services.
Kami advises students to help them make decisions about their education and careers.
Donny creates instructional workbooks and other materials for teachers and students.
The descriptions that offer examples of Professional Support Services workers are options C, E, and F.
This is because Professional Support Service workers are always involved in activities or professions that help people's education, careers, and training operations.
It usually pertains to helping people decide on health goals, academic achievement, career pursuit, etc.
Thus, when Gus works in a library and responds to requests from people who need help using services. This implies professional services in the education line.
Kami advises students to help them make decisions about their education and careers. This implies professional services in the career line.
Donny creates instructional workbooks and other materials for teachers and students. This implies professional services in the education line.
Hence, in this case, it is concluded that the correct answer is option C, E, and F.
Learn more here: https://brainly.com/question/8495876
Mountain Dental Services is a specialized dental practice whose only service is filling cavities. Mountain has recorded the following for the past nine months: Month Number of Cavities Filled Total Cost January 300 $5,100 February 375 5,300 March 625 6,350 April 400 5,200 May 650 6,300 June 600 6,300 July 350 5,000 August 675 6,300 September 550 6,000 Required: 1. Use the high-low method to estimate total fixed cost and variable cost per cavity filled. 2. Using these estimates, calculate Mountain’s total cost for filling 700 cavitie
Answer:
Results are below.
Explanation:
Giving the following information:
Month Number of Cavities Filled Total Cost
January 300 $5,100
February 375 5,300
March 625 6,350
April 400 5,200
May 650 6,300
June 600 6,300
July 350 5,000
August 675 6,300
September 550 6,000
To calculate the fixed and variable cost under the high-low method, we need to use the following formulas:
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (6,350 - 5,000) / (675 - 300)
Variable cost per unit= $3.6
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 6,350 - (3.6*675)
Fixed costs= $3,920
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 5,000 - (3.6*300)
Fixed costs= $3,920
Now, for 700 units:
Total cost= 3,920 + 3.6*700
Total cost= $6,440
State of the Economy Is the Economy in a Recessionary Gap, Inflationary Gap, or Long-Run Equilibrium? Does Equilibrium, a Shortage, or a Surplus Exist in the Labor Market? Will Wages Fall, Rise, or Remain Unchanged? Will the SRAS Curve Shift Right, Left, or Remain Unchanged? Is the Economy Above, Below, or on Its Institutional PPF? QQNQ>QN Q=QNQ=QN
Answer:
Natural GDP is the optimum quantity of goods and services that a country is expected to be producing per year. It is based on the various resources and constraints available in the economy.
Real GDP is the inflation adjusted value of goods and services actually produced in the country in a year.
1. Q < Qn ⇒ Recessionary Gap ⇒ Surplus in labor market ⇒ Wages will fall ⇒ SRAS will shift right ⇒ Below PPF
At this point where Natural GDP is above Real GDP, the nation is underproducing which means it is in a recessionary gap. Many will be unemployed so there will be a surplus in the labor market which makes labor cheap so wages will fall. The SRAS will shift right as input costs will be lower (wages) but the economy is inefficient so it is below its PPF.
2. Q > Qn ⇒ Inflationary Gap ⇒ Shortage in Labor market ⇒ Wages rise ⇒ SRAS shifts left ⇒ Above PPF
Real GDP is higher than the Natural GDP. The economy will be in an inflationary gap as a result and there will be a shortage in the labor market s companies look for more people to produce more which will lead to a rise in wages. With the ride in wages comes a rise in production costs so SRAS will shift left. The country will be above its PPF which is unattainable.
3. Q = Qn ⇒ Long Run Equilibrium ⇒ Labor Market Equilibrium ⇒ Unchanged wages ⇒ Unchanged SRAS ⇒ Producing at PPF boundary
This is the ideal situation where Real GDP equals Natural. Here the economy will be in a long run equilibrium where the labor market will also be in equilibrium which means that wages will not change, SRAS will remain where it is and the economy will be at the Production Possibilities Frontier (PPF) boundary.