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Andru [333]
3 years ago
15

Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue curve and total cost curve

are given as follows:
Q = 160 - 4P TR = 40Q - 0.25Q2 MR = 40 - 0.5Q TC = 4Q MC = 4
The price of her product will be ________.
Business
1 answer:
andrey2020 [161]3 years ago
4 0

Answer:

22

Explanation:

A monopoly will maximize profit at MR = MC ( marginal revenue = marginal cost)72

MR =MC

40 -0.5 Q = 4

-0.5 Q = 4 - 40 = -36

Q = -36 / -0.5 = 72

The price of the her product

Q = 160 - 4P

4P =  160 - 72 = 88

P = 88 / 4 = 22

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Pasadena Candle Inc. budgeted production of 785,000 candles for January. Each candle requires molding. Assume that six minutes a
yarga [219]

Answer:

$2,414,125

Explanation:

Preparation of a cost of goods sold budget for Pasadena Candle Inc

Pasadena Candle Inc. COST OF GOODS SOLD BUDGET For the Year Ending December 31

Finished goods inventory, January 1 $200,000

Work in process inventory, January 1 $41,250

DIRECT MATERIALS:

Direct materials inventory, January 1 $19,840

Direct materials purchases $60,4035

Cost of direct materials available for use $62,3875

Direct materials inventory, December 31 $15,500

Cost of direct materials placed in production $608,375

Direct labor $1,413,000

Factory overhead $300,000

TOTAL manufacturing costs $2,321,375

Total work in process during period $2,362,625

($41,250+$2,321,375)

Work in process inventory, December 31 $28,500

Cost of goods manufactured $2,334,125

($2,362,625-­$28,500)

Cost of finished goods available for sale $2,534,125

($2,334,125+$200,000)

Finished goods inventory, December 31 ­$120,000

COST OF GOODS SOLD $2,414,125

($2534125-­$120,000)

Therefore The cost of goods sold budget for Pasadena Candle Inc will be $2,414,125

8 0
3 years ago
In 2015, a former Google engineer, Erica Baker, made a spreadsheetshowing pay disparities at the company. She shared the informa
Studentka2010 [4]

Answer:

b. Organizational justice.

Explanation:

In reacting to the allegations that Google engages in "systematic compensation disparities against women" and the request of payroll records by the U.S. Department of Labor in 2017.

Google annually reviews pay levels and denies any disparities against women. In reviewing pay levels, Google's management is focused on organizational justice. The concept of organizational justice was first introduced by Greenberg in the year 1987.

Organizational justice is an organizational concept that describes an employee's perception of decisions, fairness, behaviors and actions with respect to how these employees are affected or influenced both psychologically and other wise at work.

Organisational justice deals with all workplace related activities, ranging from salary to relationships between superiors and their subordinates, equal rights, gender equality and even access to training and promotion.

For the purpose of trust, loyalty and progressive work attitudes, it is very important that organizations prioritize organizational justice.

Hence, if Google focuses on organizational justice, it will help to build trust and address the issue of pay level disparities among its employees.

6 0
3 years ago
Prepare the journal entry to record Regis’s employer payroll taxes resulting from the January 8 payroll. Regis’s state unemploym
Vilka [71]

Answer:

1a.

FICA-Social Security 5,369.20

FICA-Medicare 1,255.70

FUTA 519.60

SUTA 4,676.40

1B.

Dr Office salaries expense 25,760.00

Dr Sales salaries expense 60,840.00

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr Employee fed. inc. taxes payable 12,760.00

Cr Employee medical insurance payable 1,440.00

Cr Employee union dues payable 780.00

Cr Salaries payable 64,995.10

2.

Dr Payroll taxes expense 11,820.90

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr State unemployment taxes payable 4,676.40

Cr Federal unemployment taxes payable 519.60

Explanation:

1a. Calculation for the amounts for each of these four taxes of Regis Company.

REGIS Company’s:

Tax January 8 earnings

Subject to tax ×Tax Rate= Tax Amount

FICA-Social Security

86,600× 6.20%= 5,369.20

FICA-Medicare 86,600×1.45%= 1,255.70

FUTA 86,600×0.60%=519.60

SUTA 86,600× 5.40% =4,676.40

1B. Preparation of the journal entry to record Regis Company's January 8 employee payroll expenses and liabilities

Jan 8

Dr Office salaries expense 25,760.00

Dr Sales salaries expense 60,840.00

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr Employee fed. inc. taxes payable 12,760.00

Cr Employee medical insurance payable 1,440.00

Cr Employee union dues payable 780.00

Cr Salaries payable 64,995.10

2. Preparation of the journal entry to record Regis's employer payroll taxes resulting from the January 8 payroll

Jan 8

Dr Payroll taxes expense 11,820.90

(5,369.20+1,255.70+4,676.40+519.60)

Cr FICA—Social sec. taxes payable 5,369.20

Cr FICA—Medicare taxes payable 1,255.70

Cr State unemployment taxes payable 4,676.40

Cr Federal unemployment taxes payable 519.60

Calculation for the amount Subject to tax

Office salaries $25,760

Sales salaries $60,840

Subject to tax=$86,600

4 0
3 years ago
Which utility applies to a company that educates customers about its products’ features? A. form utility B. knowledge utility C.
grandymaker [24]

Answer:

C. possession utility

Explanation:

The explanation can be justified by the definition of these terms.

<em>Possession utility </em>is a term used to refer the value that the company offers to the consumers if they purchase or use the product in the way that the company made it for - similar with the feature of products. In general, it is the perceived value from the products.

Meanwhile: Knowledge utility is created from the increase in knowledge of the consumers about the product. This applies to the customers. Form utility is created when there is change in the shape or forms of products. Place utility is about making goods and services accessible to the potential consumers. And price utility is about making products affordable with customers and reasonable with the value it offers.

3 0
3 years ago
After evaluating Null Company’s manufacturing process, management decides to establish standards of 2 hours of direct labor per
Arisa [49]

Answer:

Explanation:

The computation is shown below:

For October month:

The computation of the direct labor price variance is shown below:  

= Actual Hours × (Actual rate - standard rate)  

= 11,500 × ($180,550 ÷ 11,500 hours - $15.50 per hour)  

= 11,500 × ($15.70 - $15.50)

= $2,300 unfavorable

The computation of the direct labor efficiency variance is shown below:  

= Standard Rate × (Actual hours - Standard hours)  

= $15.50 per hour × (11,500 hours - 6,100 units × 2 hours)  

= $15.50 per hour × 700 hours

= $10,850 favorable

The computation of the total direct labor cost variance is shown below:

= Direct labor rate variance + direct labor efficiency variance

=  $2,300 unfavorable  +  $10,850 favorable

= $8,550 favorable

For November month:

The computation of the direct labor price variance is shown below:  

= Actual Hours × (Actual rate - standard rate)  

= 22,500 × ($355,500 ÷ 22,500 hours - $15.50 per hour)  

= 22,500 × ($15.80 - $15.50)

= $6,750 unfavorable

The computation of the direct labor efficiency variance is shown below:  

= Standard Rate × (Actual hours - Standard hours)  

= $15.50 per hour × (22,500 hours - 6,500 units × 2 hours)  

= $15.50 per hour × 9,500 hours

= $147,250 favorable

The computation of the total direct labor cost variance is shown below:

= Direct labor rate variance + direct labor efficiency variance

=  $6,750 unfavorable  +  $147,250 favorable

= $140,500 favorable

3 0
3 years ago
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