Answer:
Total Contribution Margin= $50,388
Explanation:
Giving the following information:
Sales (3,400 units) $ 88,400
Variable expenses 43,316
We need to calculate the selling price and unitary variable cost:
Selling price= 88,400/3,400= $26
Unitary variable cost= 43,316/3,400= $12.74
Now, we can calculate the total contribution margin for 3,800 units.
Sales= 26*3,800= 98,800
Variable cost= 12.74*3,800= (48,412)
Contribution margin= 50,388
Agreed to work together to control the price of domestic steel.
The chief executive officers of the major U.S. steel makers would most likely be prosecuted under the antitrust laws if they agreed to work together to control the price of domestic steel.
<h3>What are the objectives of antitrust law?</h3>
The Sherman Act, the nation's first antitrust statute, was enacted by Congress in 1890 as a "comprehensive charter of economic liberty designed to maintain open and unhindered competition as the rule of commerce." The antitrust laws generally prohibit unauthorized mergers and business practices, leaving it to the courts to determine which ones are prohibited based on the specific facts of each case.
From the era of horses and buggies to the modern digital era, courts have applied antitrust rules to evolving marketplaces. Nevertheless, for more than a century, the antitrust laws have had the same fundamental goal: to safeguard the competitive process for the benefit of consumers, by ensuring that there are strong incentives for businesses to operate effectively, keep prices low, and keep quality high.
<h3>The three core federal antitrust laws:</h3>
- Any "monopolization, attempted monopolization, conspiracy, or combination to monopolize" is prohibited by the Sherman Act, as is "every contract, combination, or conspiracy in restraint of trade."
- The Sherman Act has harsh penalties that can be applied. The Sherman Act is a criminal law as well, and although the majority of enforcement actions are civil, anyone or any company that violates it may face legal action from the Department of Justice.
- "Unfair techniques of competition" and "unfair or deceptive activities or practices" are prohibited by the Federal Trade Commission Act.
Learn more about antitrust laws here:
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Answer:
$10,000
Explanation:
Depreciation of an asset is the systematic allocation of estimated cost to an asset over time. It is added over the years to get the accumulated depreciation that is netted off the cost to get the net book value.
It is given as
Depreciation = (Cost - Salvage value)/Estimated useful life
Depreciation expense for Year 1 (the first year of the asset's life) under the straight-line method would be
= ( $60,000 - $10,000 ) / 5
= $50,000/5
= $10,000
Because of those issued transaction, Edwards Co. must provide the disclosure about the stock issuance in the footnotes included with the December 31, Year 1 financial statements
A Footnote is a section for financial disclosure that shows how the numbers in the statement of financial position and cash flow statements were determined.
- Here, there are various stocks in Edward Company which were issued in the accounting year.
Hence, because of those issued transaction, Edwards Co. must provide the disclosure about the stock issuance in the footnotes included with the December 31, Year 1 financial statements
Read more about Footnote
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