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3 years ago

Suppose demand is given by q = 80 - 0.5p. what is the price elasticity of demand when p = 40?

1 answer:

8 0

<span>I believe the answer to this question is: the price elasticity of demand is 60. q = 80 - 0.5(40) is the equation I used. Half of 40 is 20, and 80 minus 20 is 60.</span>

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Digger Inc. sells a high-speed retrieval system for mining information. It provides the following information for the year.

kozerog [31]

Answer:

Predetermined overhead rate=$19.5/machine hour

The company applied $877500 to the units produced.

Explanation:

a) Pre-determined overhead rate= <u>Budgeted overhead manufacturing cost</u>

Estimated number of machine hours

=975000/50000=$19.5/machine hour.

b)Applied overhead = Pre-determined overhead rate * Actual machine hours

= 19.5 * 45000

=$877500.

In traditional costing we use as base for calculating overhead rate is machine hours or labor hours but in activity based costing we identify activity that consume resources,identify cost driver of each activity,compute cost rate per cost driver unit and finally assign cost to products by multiplying cost driver rate.

Predetermined overhead rate= estimated overhead/Estimated base (cost driver).

7 0

3 years ago

Hulse Company had the following transactions pertaining to stock investments. Feb. 1 Purchased 600 shares of Wade common stock (

kicyunya [14]

Answer:

(a)

Dr. Cr.

Feb 1

Investment $7,200

Cash $7,200

Jul 1

Cash $600

Dividend Income $600

Sep 1

Cash $4,300

Gain on sale $700

Investment $3,600

(b) Dividend will be shown as other income in the revenue section of Income statement. Gain on sale of common share will be reported on income statement after operating profit.

Explanation:

Per Share Purchase Price = 7200 / 600 = $12

300 Shares Purchase Price = $12 x 300 = 3,600

8 0

3 years ago

holton is the manager at a small restaurant. What can he do to ensure the workplace offers a safe environment for employees?

Bogdan [553]

A safe environment includes the safety of workers doing there jobs and could be to protect them if something bad occurred. In a restaurant, have a first aid kit, have an eyelash station if chemicals are used to clean, have a list of all important phone numbers available, depending on the neighborhood; a panic button to alert police, a system to ensure employees are safe in the parking lot; to and from work, have the workers in the kitchen wear non slip shoes, tie hair back, there are so many things that need to be considered.

5 0

3 years ago

Read 2 more answers

The budget director for Kanosh Cleaning Services prepared the following list of expected selling and administrative expenses. Al

Harrizon [31]

Answer:

Kanosh Cleaning Services

a. Schedule of Cash Payments for S&A Expenses

October November December

Equipment lease expense $7,500 $7,500 $7,500

Prior month’s salary expense, 100% 0 8,200 8,700

Cleaning supplies 2,800 2,730 3,066

Insurance premium 7,200 0 0

Depreciation on computer 0 0 0

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total disbursements for operating expenses $19,900 $20,830 $21,666

b. Salaries payable = $9,000

c. Prepaid insurance = $3,600

Explanation:

a) Data and Calculations:

October November December

Budgeted S&A Expenses

Equipment lease expense $7,500 $7,500 $7,500

Salary expense 8,200 8,700 9,000

Cleaning supplies 2,800 2,730 3,066

Insurance expense 1,200 1,200 1,200

Depreciation on computer 1,800 1,800 1,800

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total operating expenses $23,900 $24,330 $24,966

Schedule of Cash Payments for S&A Expenses

October November December

Equipment lease expense $7,500 $7,500 $7,500

Prior month’s salary expense, 100% 0 8,200 8,700

Cleaning supplies 2,800 2,730 3,066

Insurance premium 7,200 0 0

Depreciation on computer 0 0 0

Rent 1,700 1,700 1,700

Miscellaneous expenses 700 700 700

Total disbursements for operating expenses $19,900 $20,830 $21,666

b. Salaries payable = $9,000

c. Prepaid insurance = $3,600 ($7,200 - $3,600)

6 0

2 years ago

On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four useful

Ymorist [56]

Answer:

$10,000

Explanation:

Depreciation is charged to every asset based on the life and usage of such asset.

Straight line depreciation method charges equivalent depreciation each year of the useful life of the asset.

Here, as provided straight line depreciation = $\frac{Cost\ of\ asset\ - Salvage\ value}{Life\ of\ asset}$

Here, cost of asset = $48,000

Salvage value = $8,000

Thus, numerator in fraction = $48,000 - $8,000 = $40,000

Useful life of the asset = 4 years

Therefore, depreciation expense for each year = $\frac{40,000}{4\ years} = 10,000$

It will be same for each year, therefore, depreciation expense for year 2 = $10,000

3 0

3 years ago