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vodka [1.7K]
3 years ago
7

Suppose that for a particular firm the only variable input into the production process is labor and that output equals zero when

no workers are hired. In addition, suppose that the average total cost when 5 units of output are produced is $30, and the marginal cost of the sixth unit of output is $60. What is the average total cost when six units are produceda. $10
b. $25
c. $30
d. $35
Business
1 answer:
antiseptic1488 [7]3 years ago
3 0

Answer:

d. $35

Explanation:

   (1)                            (2)                                              (1) × (2)

No of units          Avg total cost   Marginal Cost   Total Cost  

5 units                      $30                        -                       $150               -                    

6 units                      $35                        $60                 $210      

Total Cost for 6 units = 150$ + $60 (marginal cost) =  $210

Average total cost = $210 ÷ 6 units = $35

Marginal cost is the change in total cost when an additional unit of output is produced.

Average total cost is the total cost per unit of output produced.

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The number of suppliers that enter and leave the market has no effect on the number of goods or services supplied.
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Answer:False

Explanation:

5 0
3 years ago
Read 2 more answers
On March 31, 2019, Brodie Corporation acquired bonds with a par value of $400,000 for $425,800. The bonds are due December 31, 2
icang [17]

Answer:

1. March 31, 2019

Dr Investment in held-to-maturity debt securities

$413800

Dr Interest income $12,000

Cr Cash $425800

2. June 30, 2019

Dr Cash $12,000

Cr Investment in held-to-maturity debt securities

$300

Cr Interest income $11700

3. December 31, 2019

Dr Cash $24000

Cr Investment in held-to-maturity debt securities

$600

Cr Interest income $23400

2. Assets overstated

Profit overstated

Explanation:

1. Preparation of the journal entries for Brodie to record the purchase of the bonds and the first two interest receipts.

1. March 31, 2019

Dr Investment in held-to-maturity debt securities

$413800

Dr Interest income $12,000

(400000*12%*3/12)

Cr Cash $425800

(To record the purchase of held-to-maturity securities)

2. June 30, 2019

Dr Cash $12,000

(400000*12%*3/12)

Cr Investment in held-to-maturity debt securities

$300

[($12,000/10)*3/12]

Cr Interest income $11700

($12,000-$300)

(To record the interest and amortization)

3. December 31, 2019

Dr Cash $24000

(400000*12%*6/12)

Cr Investment in held-to-maturity debt securities

$600

[($12,000/10)*6/12]

Cr Interest income $23400

($24,000-$600)

(To record the interest and amortization)

2. Based on the information given assuming Brodie failed to SEPARATELY RECORD THE INTEREST AT ACQUISITION, the errors that would occur in the company’s financial statements would be OVERSTATED ASSETS in the balance sheet and the PROFIT would as well be OVERSTATED.

6 0
3 years ago
Shoreline Insurance deposited $27,000 in an account paying 4 compounded daily on April 2 and deposited an additional $4,200 in t
nydimaria [60]

Answer:

Balance on balance on July 1 is $31490.67

Explanation:

given data

deposited P =  $27,000

time = April 2  to May 12 = 40 days

rate = 4 % = 0.04

solution

we get here first compound amount that is express as

amount = P × (1+\frac{r}{n})^{nt}     ...................1

put her value

amount = 27000 ×  (1+\frac{0.04}{365})^{(365\times \frac{40}{365})}  

amount = $27118.60

and

now we add here $4,200 in $27118.60 that will be

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and time t = 12 may to July 1 = 50 days

we get here amount that is put value in equation 1 we get

amount = $31318.60 ×  (1+\frac{0.04}{365})^{(365\times \frac{50}{365})}

solve it we get

amount = $31490.67

so that balance on balance on July 1 is $31490.67

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Answer:

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Explanation:

6 0
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