________ is the extent to which a firm's internal activities encompass one, some, many, or all activities that make up an indust
1 answer:
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Answer:
Following are the solution to this question:
Explanation:
In point a:
Journal Entry :
Account Dr Cr.
Goods completed
Processing work
Complete total labour costs
In point b:
Uncompleted jobs cost:
Answer:
TC = $1,700 + $20x
P = $20x - $1,700
x = 85
Explanation:
Develop a mathematical model for the total cost of producing x pairs of shoes.
The total cost of producing x pairs is given by the fixed cost of $1700 added to a variable cost of $20 per pair. For x pairs:
Let P indicate the total profit. Develop a mathematical model for the total profit realized from an order for x pairs of shoes.
Total profit is given by Revenue from sales minus total costs (found on the previous item). Revenue is $40 per pair. The profit function is:
How large must the shoe order be before O'Neill will break even?
The break-even point occurs when profit is zero:
The shoe order must be at least 85 pairs.