Answer:
S/n General Journal Debit Credit
a. Office supplies $36,000
Account payable $36,000
b. Work in process $22,509
Office supplies $22,509
c. Manufacturing overhead $7,550
Office supplies $7,550
d. Work in process $32,503,220
Wages payable $32,503,220
e. Manufacturing overhead $574,327
Wages payable $574,327
f. Manufacturing overhead $957,320
Utilities payable $957,320
g. Work in process $3,250,322
Manufacturing overhead $3,250,322
Answer:
A) Marginal private cost= 50
B) Total Marginal social cost to society = 70
Explanation:
A) In order to find the marginal private cost we will use the firms production cost formula as it is the private cost that the firm is enduring and is only relevant to the firm's cost and not the society's cost.
In order to find the marginal unit cost of the 10th unit produced will will replace Q in the formula by 10 as it represents quantity.
MC= 10 + 4Q
MC= 10 + 4(10)
MC= 10 +40 = 50
B) In order to find the marginal cost to society we will add the marginal external cost of the 10th unit to its private cost. We already know the marginal private cost is 50 now we need to find the marginal external cost to it to find the total marginal cost.
Marginal external cost = 2Q
Q= 10
Marginal external cost = 2*10 =20
The total Marginal cost to society= 50 + 20= 70
Answer:
File tab in Microsoft Word is a section that gives you access to file functions like open, save, close, word options, and recent file documents. Open, Save options, and the author of the document can be found right after you click the file tab.
Explanation:
Hope it helps
Answer: Option C : $300; Negative $100
Linda's accounting profit = $300
Economic Profit= -$100
Explanation:
Total money generated = cost price x number of units = $100 x 10 = $1000
Profit = Total revenue generated - Cost of production = $1000 - $700 = $300
Linda's accounting profit = $300
Economic Profit = $300 - ($20 x 20hours)
Economic Profit= $300 - $400 = -$100
Answer:
a) Received a $795 deposit from a customer who wanted her piano rebuilt in February.
Account Debit Credit
Cash $795
Unearned Revenue $795
b) Rented a part of the building to a bicycle repair shop: $545 rent received for January.
Account Debit Credit
Cash $545
Rent Revenue $545
c) Delivered five rebuilt pianos to customers who paid $14,425 in cash.
Account Debit Credit
Cash $14,425
Service Revenue $14,425
d) Delivered two rebuilt pianos to customers for $7,600 charged on account.
Account Debit Credit
Accounts Receivable $7,600
Service Revenue $7,600
e) Received $6,400 from customers as payment on their accounts.
Account Debit Credit
Cash $6,400
Accounts Receivable $6,400
f) Received an electric and gas utility bill for $750 for January services to be paid in February.
Account Debit Credit
Utilities Expense $750
Utilities Payable $750
g) Ordered $1,140 in supplies.
Account Debit Credit
Supplies Expense $1,140
Supplies Payable $1,140
h) Paid $3,400 on account in January.
Account Debit Credit
Cash $3,400
Accounts Payable $3,400
i) Paid $16,900 in wages to employees in January for work done this month.
Account Debit Credit
Cash $16,900
Wage Expense $16,900
j) Received and paid cash for the supplies in (g).
Account Debit Credit
Cash $1,140
Supplies Payable $1,140
