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alexandr1967 [171]
3 years ago
15

A firm can hire six workers at a wage rate of $8 per hour but must pay $9 per hour to all of its employees to attract a seventh

worker. The marginal wage cost of the seventh worker is A. $9. B. $10. C. $15. D. $21.
Business
1 answer:
natulia [17]3 years ago
5 0

Answer:

The correct answer is C. 15$.

Explanation:

The marginal or incremental cost in decision making means effect that company have on its financial statement if the option under consideration is choosen.

In the above question the company will have to pay 9$ dollars to the seventh worker plus it has to increase pay of its six existing workers by 1$ per hour. So marginal wage cost is (9+6)= 15.

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The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the followin
maria [59]

Answer:

a. Merchandise lost by fire value  = $20,760

b. Merchandise lost by fire value  = $25,770

Explanation:

Net sales = $51,000 - $1,100

= $49,900

Net purchase cost = $31,000 + 1,200 - $1,500

= $30,700

a. Gross profit = $49,900 × 40%

= $19,960

Cost of goods sold = $49,900 - $19,960

= $29,940

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $29,940 = $20,000 + $30,700 -  ending inventory

Ending inventory = $20,760

Merchandise lost by fire value  = $20,760

b. Gross profit = $49,900 × 30%

= $14,970

Cost of goods sold = $49,900 - $14,970

= $34,930

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $34,930 = $30,000 + $30,700 - ending inventory

ending inventory = $25,770

Merchandise lost by fire value  = $25,770

5 0
3 years ago
A company reported total equity of $145,000 at the beginning of the year. The company reported $210,000 in revenues and $165,000
Allushta [10]

Answer:

e. $ 282,000

Explanation:

To determine the assets of the company at year end, we need to find the equity at year end, this is calculated as follows:

Opening Equity                                                      $ 145,000

Net Income for the year                                        $ 45,000

Revenues     $ 210,000

Expenses     $ 165,000

Equity at end of year                                            $  190,000

The accounting equation is

Assets = Liabilities + Stockholders' Equity

Assets = $ 92,000 + $ 190,000                           $ 282,000

4 0
3 years ago
Using the midpoints method, calculate the price elasticity of demand of Good X using the following information: When the price o
grin007 [14]

Answer:

Explanation:

In response to the price rise from $50 to $60, the quantity demanded of product X  drops from 400 to 300 units. We know that price elasticity of demand is a measure of the responsiveness of changes in demand as a result of a price change. Thus,

% change in price = \frac{Change in price}{Average of the prices}

          = \frac{60-55}{55} = 0.1818

% Change in Quantity demanded

=\frac{Change in quantity demanded}{Average quantity demanded}

= \frac{300-400}{350}

= -0.2857

Thus,

Price elasticity of demand = \frac{percentage change in quantity demanded}{percentage change in price}

= \frac{-0.2857}{0.1818}

= -1.5715

Therefore, the price elasticity of demand = -1.5715

4 0
3 years ago
The advantages of partnerships include ease of start-up, shared decision making and a larger pool of capital. true or false
iVinArrow [24]
The answer would be: True

4 0
3 years ago
Phionia Phelps has developed a gourmet cat food. Not only is this food eagerly eaten by the most finicky felines, but it is spec
pickupchik [31]

Answer:

Explanation:

a.

Sales budget = $ 250 per case * 100 cases per batch * 6 batches per day * 20 days a month * 6 months

= $ 18,000,000

b. Production budget in units = 100 cases per batch * 6 batches per day * 20 days a month * 6 months

= 72,000 cases

Production budget including 10 percent inventories

= 72000 + 100*6*20*10%

= 73200 cases

c. Direct materials purchases budget in pounds including 5% inventories

Lamb = 5 pounds per case * (73200 cases + 100*6*20*5% cases )

= 369,000 pounds

Rice Lamb = 10 pounds per case * (73200 cases + 100*6*20*5% cases )

= 738,000 pounds

Salmon = 2 pounds per case * (73200 cases + 100*6*20*5% cases )

= 147,600 pounds

Vitamins = 1 pound per case * (73200 cases + 100*6*20*5% cases )

= 73,800 pounds

d. Direct materials purchases budget in dollars = 369000*15 + 738000*1.2 + 147600*24 + 73800*45

= $ 1,328,400

e. Manufacturing labor budget in dollars = 1 hours per batch * 6 batches per day * 20 days per month * 6 months * ($ 18 per hour for ingredient preparation + $ 24 per hour for cooking and canning ) * 2 workers

= $ 60,480

2. The business requires an investment of $ 1,328,400 + 60,480

= $ 1,388,880 over six months.

This translates to monthly investment of $ 231,480

Therefore $ 50,000 investment is too small to begin with.

8 0
3 years ago
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