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3 years ago

Which of the following is NOT a characteristic of long-run equilibrium for a perfectly competitive firm? Select one:

1 answer:

3 0

Answer: "b. Price is greater than long-run average cost." is NOT characteristic of long-run equilibrium for a perfectly competitive firm.

Explanation: In the long term the company will produce the output level at which long-run average cost is at its minimum.

Where the price is equal to the long-run marginal cost and the long-run average cost.

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The production department in a process manufacturing system completed 94,000 units of product and transferred them to finished g

Fofino [41]

Answer:

Weighted Average Method.

a. 110,700 units

b. 106,525 units

c. 82,090 units

FIFO

a. 85,500 units

b. 95,245 units

c. 99,010 units

Explanation:

Calculation of equivalent units of production with respect to direct materials.

FIFO.

a. All direct materials are added to products when processing begins.

Materials

To finish Opening Work in Process 0

Started and Completed 65,800

Closing Work in process (16,700 × 100%) 16,700

Total equivalent units of production 85,500

b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs

Materials

To finish Opening Work in Process (28,200 × 60%) 16,920

Started and Completed (65,800 × 100%) 65,800

Closing Work in process (16,700 × 75%) 12,525

Total equivalent units of production 95,245

c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.

Materials

To finish Opening Work in Process (28,200 × 40%) 11,280

Started and Completed (65,800 × 100%) 65,800

Closing Work in process (16,700 × 30%) 5,010

Total equivalent units of production 82,090

Weighted Average Method.

a. All direct materials are added to products when processing begins.

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 100%) 16,700

Total equivalent units of production 110,700

b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 75%) 12,525

Total equivalent units of production 106,525

c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.

Materials

Completed and transferred (94,000 × 100%) 94,000

Closing Work in process (16,700 × 30%) 5,010

Total equivalent units of production 99,010

8 0

3 years ago

You resent having friends or members of your family tell you what to do

emmainna [20.7K]

Usually I don't mind people telling me thing if they are giving me advice but if they are bossing me around I don't like it. I will listen to them if I have to but I may not do exactly as they say if I don't believe it is the right thing.

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4 years ago

Read 2 more answers

McHale Enterprises has the following incomplete General Journal entry for the most recent pay date:

Andre45 [30]

Answer:pp

Explanation:

4 0

4 years ago

A Nash equilibrium is A. reached when an oligopoly's market demand and supply intersect. B. reached when each player choose the

telo118 [61]

Answer:

B. reached when each player choose the best strategy for himself and for the group.

Explanation:

Nash equilibrium -

It is the type of method for a game , where there is no incentives or perks involved in the game , so that the people do not divert from the main focus, is referred to as nash equilibrium.

This type of game is a type of fair competition , so that each and every person can show their actual potential , without being bias.

Hence , from the given statements the correct statement for nash equilibrium is b.

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4 years ago

What is a partner by estoppel?

Vika [28.1K]

Legally binding partnership that may arise where, in fact, no formal partnership agreement is in effect. A person who by conduct or words represents, or allows him/herself to be represented, as a partner in a firm is liable for the credit or loans obtained by firm on the basis of such representation. Also called presumption of partnership.

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3 years ago