Answer:
1) total cost $3,209,909
<u><em>journal entries:</em></u>
copper deposit 3,209,909 debit
cash 2,800,000 credit
restoration liability 409,909 credit
Explanation:
mine deposit: 2,000,000 land
+ 800,000 extraction
<u> + 409,909</u> restoration cost
3,209,909 total cost
expected monetary value of the restoration cost:
![\left[\begin{array}{cccc}$Electrical&Return&Probability&Weight\\$One&500,000&0.25&125,000\\$Second&600,000&0.4&240,000\\$Third&800,000&0.35&280,000\\$Total&&1&645,000\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bcccc%7D%24Electrical%26Return%26Probability%26Weight%5C%5C%24One%26500%2C000%260.25%26125%2C000%5C%5C%24Second%26600%2C000%260.4%26240%2C000%5C%5C%24Third%26800%2C000%260.35%26280%2C000%5C%5C%24Total%26%261%26645%2C000%5C%5C%5Cend%7Barray%7D%5Cright%5D)
<em><u>preset value of restoration cost:</u></em>
Maturity $645,000.00
time 4.00
rate 0.12000
PV 409,909.1606
Answer:
4. Weighted-average equivalent units will be equal to FIFO equivalent units.
Explanation:
Equivalent units of production is been applied to the work-in-process inventory when an accounting period comes to an end. It can be regarded as expression that gives amount of work done which was recorded by a manufacturer over a units of output which was partially completed after an accounting period. For instance, if there are 100 units that are in process, then 40% of processing cost is expended , then we can say there are 40 equivalent units of production. It should be noted that the if beginning work in process is zero, the equivalent units of production computed using fifo versus weighted average will have a relationship in such a way that Weighted-average equivalent units will be equal to FIFO equivalent units.
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<u>Business Management and Administration</u>: general manager and executive secretary
<u>Finance</u>: accountant, loan officer
<u>Marketing, sales, and service</u>: survey researcher and purchasing agent
<u>Transportation, distribution, and Logistics</u>: storage and distribution manager and cargo and freight attendant
If the government takes this approach, consumer surplus would increase.
A monopoly is when there is only one firm operating in an industry. A natural monopoly occurs when there is a high start-up cost associated with opening a business or a firm enjoys economies of scale.
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good. As the price of a good declines, consumer surplus increases. P2 is lower than P1, this means that if price is regulated to P2, consumer surplus would increase.
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