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Viktor [21]
3 years ago
13

Smith company is a perfectly competitive firm. the market price of its output is $10. the firm is currently producing 100 units

of output. at this level of output, the firm’s average total cost is $10 per unit, its average variable cost is $9 per unit, and its marginal cost is $10 per unit. on the basis of this information, what can we say?
Business
1 answer:
Andreas93 [3]3 years ago
6 0
<span>Suppose that a firm has only one variable input, labor, and firm output is zero when labor is zero. when the firm hires 6 workers the firm produces 90</span>
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Lemony Company made sales of $ 32 comma 200 million during 2018. Cost of goods sold for the year totaled $ 12 comma 880 million.
Aleksandr [31]

Answer:

Gross profit is 60%

Inventory turnover is 4.6 times

Explanation:

The formula to compute the gross profit percentage is shown below:

= (Gross profit ÷ sales) × 100

where,

Gross profit = Sales - the cost of good sold

                   = $32,200 million ÷ $12,880 million

                   = $19,320 million

And, the sales is $32,200 million

Now put these values to the above formula  

So, the percentage would equal to

= ($19,320 million) ÷ ($32,200 million) × 100

= 60%

The formula to compute the inventory turnover is shown below:

= (Cost of goods sold) ÷ average inventory

where,

Average inventory = (Beginning inventory + ending inventory) ÷ 2

                               = ($1,200 million + $1,600 million ) ÷ 2

                               = $900 million

And, the cost of good sold is $12,880 million

Now put these values to the above formula  

So, the turnover would equal to

= $12,880 million ÷ $2,800 million

= 4.6 times

7 0
3 years ago
Fulbright Corp. uses the periodic inventory system. During its first year of operations, Fulbright made the following purchases
Firlakuza [10]

Answer:

The correct answer is B.

Explanation:

Giving the following information:

Purchases:

40 units at $100·

70 units at $80·

170 units at $60

Sales for the year totaled 270 units, leaving 10 units on hand at the end of the year.

First, we need to calculate the average purchase cost.

Average cost= (100*40 + 80*70 + 60*170)/280= $70.7

Now, we can calculate the value of ending inventory:

Inventory= $70.7*10= $707

7 0
3 years ago
While the four Ps help us remember the basics components of the __________, they don't reveal all the components in the marketin
nata0808 [166]

Despite that 4Ps helped to remember the basics components of the <u>marketing mix</u>, they do not reveal all the components in the marketing process.

<h3>What is Marketing 4Ps?</h3>

The Marketing 4Ps is an economic model that enhances the components of a firm "marketing mix", that is, they enhance the way firm take a new product or service to market.

The Marketing 4Ps includes price, product, promotion and place.

However, the marketing mix does not reveal all the components in the marketing process.

Read more about Marketing 4Ps

<em>brainly.com/question/859394</em>

3 0
2 years ago
Suppose that Marie is buying bananas. She decides that she would like to purchase three bananas at the price of $0.25 per banana
navik [9.2K]

Answer:

Marginal thinking

Explanation:

The economic foundation of marginal thinking requires decision-makers to evaluate whether the benefit of one more unit of something is greater than its cost. And according to this principle, Marie´s benefits of the first three bananas is higher than its cost, but the fourth banana will provide less benefit than the third and this is less than it cost.

7 0
3 years ago
Village Bank has $310 million worth of assets with a duration of 12 years and liabilities worth $248 million with a duration of
vitfil [10]

Answer:

2129  futures contracts to be sold

Explanation:

Asset worth = $310 million

Asset duration = 12 years

liabilities = $248 million

Liabilities duration = 5 years

T-bond futures contracts = 104-20 (30nds)

% of assets = 310 / 248 =

<u>Determine how many futures contracts Village Bank will sell to fully hedge the balance </u>

Number of Contracts = -[Assets * (Asset Duration – (Liabilities Duration * % of Assets) / (Duration * Contract Value)]

 = - [ 310 * ( 12 - ( 5 * (310/248)) / ( 8 * ( 104 + ( 20/30)) ]

= - [ 310 * ( 12 -  6.25 ) / ( 8 * 104.6667 ) ]

= - [ 310 * 5.75 / 837.3336 ]

= - 2.12878 * 1000

= 2128.78 ≈  2129 ( number of futures contracts to be sold )

5 0
3 years ago
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