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ehidna [41]
3 years ago
7

Tim mows neighborhood lawns for extra money. Suppose that he would be willing to mow one lawn for ​$10​, a second lawn for ​$15​

, and a third lawn for ​$24. Also suppose that three neighbors are interested in having their lawns mowed. Mrs. Jones would be willing to pay ​$31 to have her lawn​ mowed, Mr. Wilson would be willing to pay ​$30​, and Ms. Smith would be willing to pay ​$24. If Tim offers to mow lawns for ​$24 ​each, what will be his producer​ surplus? ​$ nothing. ​(Enter a numeric response using an​ integer.)
Business
1 answer:
Leviafan [203]3 years ago
5 0

Answer:

The producer surplus is $23

Explanation:

Producer surplus: The producer surplus show a difference between the producer willing to supply and the received price

In mathematically,

Producer surplus = (willing to supply -  received price by the consumer)

So,

The producer surplus would equal to

= ($24 - $10) + ($24 - $15) + ($24 - $24)

= 14$ + $9 + $0

= $23

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3 years ago
Cost allocation involves:_______.A. Identifying a cost driver for each cost to be allocated. B. Calculating an allocation rate f
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Answer:

d. all of the answers are correct

Explanation:

Cost allocation is being done:

1)  to influence management behavior and thus promote goal and managerial effort,

2) to measure inventory costs and to know of goods sold on a product or project,

3) to justify cost (e.g to justify an accepted bid).

For example, if you are to determine the amount of electricity consumed at a particular period, the number of units consumed determines the total cost to be paid for the electricity consumed. In such an instance, the number of units of electricity consumed is a Cost Driver.

   A cost driver is the most appropriate way of calculating or determining a specific cost.

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4 0
3 years ago
In today's organization, many employers appear to prefer to work for a supervisor with a ________ leadership style.
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3 0
3 years ago
Which two lines intersect at level of output the firm is supplying if that business is earning zero economic profits?
IgorC [24]

The average cost curve and the variable revenue curve are two lines which intersect at level of output when the firm is supplying and that business is earning zero economic profits.

If the price which the  firm is charging from customer is higher than its average cost of production for the quantity of the goods produced, then the firm will earn profits to a large extent.

Conversely, if the price which is charged by the firm is lower than its average cost of production, the firm will suffer losses.

Thus when the cost is equal to the revenue of the firm it means there is no profit at all. At this level the average cost curve will intersect the revenue curve.

To know more about marginal cost curve here:

brainly.com/question/15570401

#SPJ4

4 0
2 years ago
World Company expects to operate at 80% of its productive capacity of 66,250 units per month. At this planned level, the company
Gnom [1K]

Answer:

Overhead volume variance = $3,000 Unfavorable

Overhead controllable variance = $26,500 unfavorable

Explanation:

As per the data given in the question,

a)

Number of units produced = 80% × 66,250

= 53,000  units

Standard = 26,500 hours ÷ 53,000 units

= 0.5 direct labor hour per unit

Particulars                        a                 b               Direct labor hour(a ÷ b)

Variable overhead rate $331,250      26,500        $12.5 per hour

Fixed overhead rate       $53,000       26,500        $2 per hour

Total overhead rate      $384,250                          $15 per hour

The standard hours to produce 50,000 units = 25,000 (50,000 units × 0.50 hours per unit.)

Applied fixed overhead = $2 × 25,000

= $50,000

Overhead fixed volume variance is

= $53,000 - $50,000

= 3,000 unfavorable

Now

b) Standard hour = 50,000 units × 0.5 direct labor hour per unit

= 25,000

Overhead rate(a) Standard hours(b) Applied overhead(a × b) Actual variance

Variable overhead $12.5 25,000 $312,500

Fixed overhead $2 25,000 $50,000

Total overhead $14.5               25,000           $362,500       $389,000

= $362,500 - $389,000

$26,500 unfavorable

If the actual cost is more than the standard one than the variance should be unfavorable and If the actual cost is less than the standard one than the variance should be favorable

6 0
3 years ago
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