Answer:
Results are below.
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. <u>The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead. </u>
<u>First, we need to calculate the unitary fixed manufacturing overhead:</u>
Unitary fixed overhead= 85,400/2,440= $35
<u>Absorption costing income statement:</u>
Sales= 2,280*145= 330,600
COGS= 2,280* (49 + 17 + 17 + 35)= (269,040)
Gross profit= 61,560
Total selling and administrative= 22,800 + (2,280*10)= (45,600)
Net income= 15,960
Answer: The same as the industry's demand curve
Explanation:
The demand curve faced by a non discriminating pure monopoly is same as the industry demand curve as, the monopoly facing the demand curve of the industry in the form of the downward sloping demand curve so that the monopolist increased its output demand. A non discriminating monopolist determined the demand curved and ultimately determined the price which are willing for pay.
1,000 billion is how much the government would spend to increase outputs
Calculation of Direct Material Budget for the month of July:
Budgeted production (Units) for July 5,000
Material required per unit (pounds) 3
Material requirement for July (pounds) = (5000 units * 3 pounds) 15,000
Add: Ending material inventory (5300 units * 3 pounds* 30%) 4,770
Less: Beginning material inventory 4,500
Direct Material Purchase (Pounds) (15000+4770-4500) = 15,270
Cost per pound of Metrial ($) $6.00
Direct Material Purchase ($) (15270 pounds * $6) = $91,620
Answer:
d. Mexico has nothing to gain from importing United States pork.
Explanation:
The principle of comparative advantage asserts that countries (in this case Mexico) are better off importing certain goods (in this case pork), given that the opportunity cost of importing such goods are less in comparison to the production costs of manufacturing them within the country.
By definition, a country is said to have a <em>comparative advantage</em> over another, when they can produce a certain good or service at a lower marginal or opportunity cost.
