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3 years ago

What is brad's opportunity cost of producing one pound of beef?

Business

1 answer:

arlik [135]3 years ago

3 0

Answer:

ΔBrad /ΔBeef

Explanation:

Opportunity Cost is the cost of next best alternative forgone while making a choice. Eg : If a school teacher is Rs 20000, he / she could have taken coaching classes & earned Rs 15000, the opportunity cost of school teaching is coaching earnings i.e Rs 15000.

Marginal Opportunity Cost is the quantity of a good sacrifised to gain an additional quantity of another good .

MOC = Δ good sacrifised /Δ good gained.

MOC (Brad for a Beer) = ΔBrad /ΔBeef

{∵beef = good sacrifised , brad = good gained}

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Michael's Machine Shop reports the following information for the quarter.

m_a_m_a [10]

Answer:

Results are below.

Explanation:

First, we need to calculate the variable cost per unit:

Variable cost per unit= Materials + Labor + Plant supervision + Selling and administrative

Variable cost per unit= 18 + 15 + 8 + 9

Variable cost per unit= $50

Now, the fixed cost:

Fixed costs= Selling and administrative + Production

Fixed costs= 47,620 + 142,860

Fixed costs= $190,480

To calculate the break-even point in units, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 190,480 / (70 -50)

Break-even point in units= 9,524

Finally, the expected sales:

expected sales= 23,810*70

expected sales= $1,666,700

3 0

3 years ago

A company produces a single product. Variable production costs are $13.10 per unit and variable selling and administrative expen

nikitadnepr [17]

Answer:

Value of the ending inventory is $ 16,340

Explanation:

The variable costing method is also known as the marginal costing method, under this method production units and inventories are valued using the variable cost per unit.

Variable cost per unit = D. Material cost+ Direct labour cost + Variable Overhead

To value the closing inventory of the company, we follow the steps below:

Step 1

Calculate the variable cost per unit

= $13.10 + $4.10 = $17.2

Step 2

Calculate the closing inventory

Closing inventory = Opening Inventory + purchases - Sales

= 0 + 5,100 -4,150 = 950 units

Step 3

Value the closing inventory

= VC/unit × units

= $17.2 × 950

= $ 16,340

Value of the ending inventory is $ 16,340

7 0

3 years ago

Using the plant Oenothera lamarckiana, or Evening Primrose, Hugo de Vries discovered stable new variants in multiple generations

DENIUS [597]

Answer:

Mutation

Explanation:

De Vries, following his discovery of stable new variants in several generations when the Oenothera lamarckiana is planted, coined the word mutation. In his observation, the original plant occasionally bears offspring that vary significantly in their phenotypic features such as leaf shape, which remains stable and can be passed on to the next generation. He referred to these dramatic variants as mutation.

De Vries is said to be the father of Mutation. He is best known for propounding the Mutation Theory.

3 0

3 years ago

Identify the correct definition of an asset. Multiple choice question. An asset is an amount owed to a creditor. An asset is a r

Genrish500 [490]

The correct definition of an asset is B. An asset is a resource that a business owns or controls.

<h3>What is an Asset?</h3>

This refers to the commodity that a person owns that generates money over a period of time.

Hence, we can see that from the given answer choices, there are different definitions, but the correct definition is found in option A because it states that it is a resource that a business owns or controls.