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3 years ago

Economic studies have generally found that professional sports players have salaries that

Business

1 answer:

Rudiy273 years ago

4 0

Answer:

should be equal to their marginal revenue product.

Explanation:

This applies to basically all employees that work in competitive markets, their salaries should equal their marginal revenue product.

An employee's salary = the market value of hiring the employee = marginal revenue product

The formula for calculating marginal revenue product = marginal physical product x marginal revenue

where:

marginal physical product = extra units produced by the employee
marginal revenue = price of the units produced

For example, a new employee can produce 100 units per day and each unit is sold at $0.75, therefore the employee's marginal revenue product = 100 units x $0.75 per unit = $75 per day

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Kelly Company sells its only product for $250 per unit. It has variable costs of $90 per unit. Annual fixed operating costs amou

zhuklara [117]

Answer:

the break even point in units is 120,000 units

Explanation:

The computation of the break even point in units is shown belwo:

= Annual fixed operating cost ÷ (Selling price per unit - variable cost per unit)

= ($19,200,000) ÷ ($250 per unit - $90 per unit)

= $19,200,000 ÷ $160 per unit

= 120,000 units

hence, the break even point in units is 120,000 units

We simply applied the above formula so that the correct value could come

And, the same is to be considered

4 0

3 years ago

Question 19 A company just starting in business purchased three merchandise inventory items at the following prices. First purch

Lunna [17]

Answer:

Answer is A. USD 80/-

Explanation:

Using FIFO costing, we get:

<u>Gross Profit = Sales - Cost of Goods Sold </u>

COGS (Cost of Goods Sold) for two units,

COGS = First purchase + Second purchase

COGS = $70 + $80

COGS = $150

Sales = $230

<u>Calculating the Gross Profit: </u>

GP (Gross Profit) = Sales - Cost of Goods Sold

GP = $230 - $150

GP = $80

7 0

3 years ago

Read 2 more answers

Mary begins an internship at a small company that makes touchscreens for imported smartphones. Her first assignment is to estima

vova2212 [387]

Answer:

Mary should answer that more than half of the boxes not be rejected.

Explanation:

Probability:

Box has one defective screen = 0.6

Box has three defective screen = 0.4

no. of screens in a box = 8

The box is rejected if both of the inspected screens are defective.

Probability of rejecting a box:

$=0.6\times\frac{1}{8}\times\frac{0}{7} + 0.4\times\frac{3}{8}\times\frac{2}{7}$

= 0.04286

Only 4.286% of the boxes will be rejected.

Therefore, Mary should answer that more than half of the boxes not be rejected.

6 0

2 years ago

At the end of the current year, using the aging of receivable method, management estimated that $28,500 of the accounts receivab

lyudmila [28]

Answer:

Adjusting entry the company made to record its estimated bad debts expense:

Bad Debts Expense 29,300

Allowance for Doubtful Accounts 29,300

Explanation:

The company uses the aging of receivable method to estimate uncollectible.

Estimated uncollectible would be $28,500

Before year-end adjustments, the Allowance for Doubtful Accounts had a debit balance of $800

Bad debts expense = $28,500 + $800 = $29,300

Adjusting entry the company made to record its estimated bad debts expense:

Bad Debts Expense 29,300

Allowance for Doubtful Accounts 29,300

3 0

2 years ago

Aimee is a salaried nonexempt employee who earns an annual salary of $56,000 for a 43-hour workweek, paid biweekly. The employer

Alika [10]

Answer:

the compensatory time that would be received is 13.5 hours

Explanation:

The computation of the compensatory time that would be received is as follows:

Actual hours worked 95

Less: Regular working hours 86 (43 hours × 2)

Overtime hours worked 9

Now

Compensatory time 13.5 (9 hours × 1.5)

Hence, the compensatory time that would be received is 13.5 hours

7 0

3 years ago