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3 years ago

If the market price is $10, what is the firm's total cost?

1 answer:

3 0

Answer: Profit per unit is equal to price minus average total cost. Since this is a perfectly competitive firm, it takes the market price as given; thus the firm's price is $10 per unit. At its current level of output, this firm's average total cost is $8 per unit. Thus this firm's profit per unit is $(10 â€“ 8) = $2 per unit

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Which statement is true of all transactions?

AnnZ [28]

I’m pretty sure it’s D

5 0

3 years ago

Read 2 more answers

On November 1, Alan Company signed a 120-day, 10% note payable, with a face value of $57,000. Alan made the appropriate year-end

just olya [345]

Answer:

Amount paid to record is $58,900

Explanation:

In this question, we are asked to state the Journal entry as of March 1.

Please check attachment for tabular explanation

Kindly note that 360 is used as the number of days in a year

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3 years ago

The following selected transactions were completed by Capers Company during October of the current year:

Zarrin [17]

Answer:

Date Accounts title and explanations Debit$ Credit$

1-Oct Merchandise inventory 15458

Accounts payable - Sabol imports 15458

3-Oct Merchandise Inventory 9850

Accounts payable- Saxon Co. 9650

Cash account 200

4-Oct Merchandise Inventory 13550

Accounts payable- Schnee Co. 13550

6-Oct Accounts payable -Schnee Co 4350

Merchandise inventory 4350

13-Oct Accounts payable-Saxon Co 9650

Cash account 9457

Merchandise inventory 193

(9650*2%)

14-Oct Accounts payable-Schnee Co 9200

Cash account 9016

Merchandise inventory 184

(9200*2%)

19-Oct Merchandise inventory 27270

Accounts payable - Southmont Co 27270

19-Oct Merchandise inventory 375

Cash account 375

20-Oct Merchandise inventory 21400

Accounts payable -Stevens 21400

30-Oct Accounts payable-Stevens 21400

Cash account 21186

Merchandise inventory 214

(21400*1%)

31-Oct Accounts payable-Sabol imports 15458

Cash account 15458

31-Oct Accounts payable -Southmont Co 27270

Cash account 27270

7 0

3 years ago

The number of compounding periods in one year is called compounding frequency. The compounding frequency affects both the presen

Anastasy [175]

Answer:

1. a. 4.081%

2. c. $23,536.36

Explanation:

1. Periodic rate=(4.4%/4) = 1.1%

EAR=(1+APR/m)^m-1

where m=compounding periods

= (1+0.044/4)^4-1

= 1.011^4 - 1

= 1.04473133864 - 1

= 0.04473133864

= 4.47%

EAR=(1+APR/m)^m-1

where m=compounding periods

=(1+0.04/365)^365-1

= (1+0.00010958904)^365 - 1

= 1.00010958904^365 - 1

= 1.04080849272 - 1

= 0.04080849272

= 4.081%

2. A=P(1+r/365)^365*n

where A=future value, P=present value, r=rate of interest, n=time period.

= 22000*(1+9%/365)^(9/12*365)

= $23,536.36

3 0

3 years ago

Countertops Unlimited, a manufacturer of kitchen and bath countertops, had the following information for production last period:

Mrac [35]

Answer:

Countertops Unlimited Manufacturing Account for the year ended

Particulars Amount

Beginning material inventory $16,000.00

Less Closing Work in progress $30,000.00

(WIP) Inventory

Ending material inventory -$14,000.00

Factory Overhead Cost

Material purchased $205,000.00

Direct labor $65,000.00

Indirect labor $20,000.00

Indirect material used $55,000.00

Factory rent $35,000.00

Utilities $15,000.00 395,000,000

Total Manufacturing Costs $381,000.00

3 0

3 years ago