Peter's Pans sells cooking pans for $30 each. The company
1 answer:
The value of the VMP are 600, 570, 540, 510, 480, 450. The total workers to be hired are 4 workers because MRL > wage.
<h3>How to solve for the VMP</h3>= MP * selling price
- 20 * 30 = 600
- 19 * 30 = 570
- 18 * 30 = 540
- 17 * 30 = 510
- 16 * 30 = 480
- 15 * 30 = 450
This has been computed in the excel file that I have attached to the question.
2. A competitive firm is going to have to hire when the wage is equal to MRPL or MRPL is greater than the wage
based on this the labor of the firm would be at 4 units.
3. Four workers are going to be hired based on the fact that the marginal revenue of the added labor is more than the wage that was paid for the work done.
Read more on marginal revenue here:
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Answer:
<u>Bethesda Mining</u>
<u>Common-size Balance Sheets for as at </u>
2018 2019
% %
Assets
Current Assets
Cash 5.91 7.23
Accounts Receivable 7.00 8.96
Inventory 13.67 20.27
Total 26.58 36.46
Fixed Assets
Net Plant and Equipment 73.41 63.54
Total Assets 100.00 100.00
Liabilities and Owners` Equity
Current Liabilities
Accounts Payable 21.13 21.23
Notes Payable 9.43 14.66
Total 30.55 35.90
Long term debt 26.32 18.61
Owners` Equity
Common Stock and Paid in surplus 24.43 23.60
Accumulated Retained Earnings 18.70 21.89
Total 43.12 45.48
Total Liabilities and Owners` Equity 100.00 100.00
Explanation:
<em>Hi, I have attached the full question as an image below.</em>
In a Common Size Statement of Financial Position, each item is expressed as a percentage of Total Assets.
So, the first step is to determine the Total Assets for the Period you want work with. Next, express each item as a percentage of the Total Sales
