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Roman55 [17]
3 years ago
6

Determine the amount of producer surplus generated in the following situation. So­Hee advertises her car for sale in the used­ca

r section of the student newspaper for $2,000, but she is willing to sell the car for any price higher than $1,500. The best offer she gets is $1,200, which she declines. The amount of So­Hee's producer surplus is _____.
Business
1 answer:
abruzzese [7]3 years ago
6 0

Answer:

The answer is: $0

Explanation:

Producer surplus is the difference between the maximum price a suppler is willing and able to sell its product and the price of the product.

SoHee was willing to sell her car for at least $1,500, but she wasn't able to do so since the fair market price is $1,200. So, producer surplus is $0.

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Coffman Company sold bonds with a face value of $1,080,000 for $1,020,000. The bonds have a coupon rate of 9 percent, mature in
Neko [114]

Answer:

Coffman Company

Journal Entries:

January 1 - Sale of Bonds

Debit Cash Account with $1,020,000

Debit Bonds Discount with $60,000

Credit Bonds Payable with $1,080,000

To record the sale of 9% bonds at a discount.

June 30:

Debit Interest on Bonds with $48,600

Credit Cash Account with $48,600

To record payment of interest on June 30.

Explanation:

1. Bonds as a financing source can be issued at par value, premium, or discount.  It is issued at a discount when the interest rate is less than the market rate.  The purpose of issuing them at a discount is to attract investors to purchase the bonds, which will be repaid at the par value.

2. Interest for the half-year was calculated as follows: $1,080,000 x 9%/2 since the interest is payable semiannually.  This implies that the effective semiannual interest rate is 4.5%.

3 0
3 years ago
Classical economists are more likely than keynesian economists to focus more on _____.
nadezda [96]

classical economists are more likely than Keynesian economists to focus more on unemployment. This is further explained below.

<h3>What is unemployment?</h3>

Generally, unemployment is simply defined as unemployed persons who are looking for employment and are prepared to start work immediately.

In conclusion, Unemployment is an issue that receives greater attention from classical economics than from Keynesian economists.

Read more about unemployment

brainly.com/question/14227610

#SPJ12

7 0
2 years ago
Production costs chargeable to the Finishing Department in June in Waterway Company are materials $16,524, labor $21,602, overhe
d1i1m1o1n [39]

Answer:

Cost Per Equivalent Unit Materials 0.81    Conversion 2.14

Completed Units Costs $ 53690

Ending Work In Process Costs  $ 4136

Total Costs  $ 57826

Explanation:

<u>Waterway Company</u>

<u>Finishing Department </u>

                                                           Materials        Conversion

Costs                                                   $16,524,        $21,602 + $19,700

                                                                                       $ 41302

Equivalent units of production        20,400                   19,300

Cost Per Equivalent Unit          16524/20400= 0.81      41302/19300= 2.14

We find the Cost per Equivalent unit and then multiply with the completed units and Ending work in process units to get their costs.

<u>Completed Units Costs $ 53690</u>

Materials = 18200* 0.81 = 14742

Conversion= 18200 * 2.14= 38948

Total Costs     $ 53690

<u>Ending Work In Process Costs  $ 4136</u>

Materials = 2200* 0.81 = 1782

Conversion= 2200 * 50 % * 2.14= 2354

Total Costs     $ 4136

Total Costs Accounted For = Completed Units Costs $ 53690 + Ending Work In Process Costs  $ 4136= <u>$ 57826</u>

Total Costs Added  During the process =   Materials + Conversion = $16,524,+ $ 41302=

<u>$ 57826</u>

4 0
3 years ago
Simone is working to establish her reputation at Alpha Assemblies as part of her internship opportunity. She is looking for a wa
Tpy6a [65]

Complete question:

Alpha Assemblies produces a wide variety of products in their central Nebraska facility. Many of these products fit within a line of standard truck and trailer parts. Within this is a set of hitches that can be made in two sizes (1-1/4 and 2) and three strengths (light duty, medium duty, and heavy duty). All of the hitches in this line have "natural" finishes so no additional steps are necessary after they are cast. The machine used to cast these six hitch variations is available for 2000 hours per year. Operators are paid $15.00 per hour including benefits.

Simone is working to establish her reputation at Alpha Assemblies as part of her internship opportunity. She is looking for a way to improve the operations. She has been working on the hitch project and is looking at possible ways to cut costs. At this point she has studied the processes and their associated costs, and completed forecasts for the next year's demand.

Hitch A is the 1-1/4 inch, light duty, natural hitch. Simone has forecast the demand for this hitch at 5,656 units for the next year. It takes one operator 5.4 hours to perform a setup to produce a batch for this hitch and no other setup costs are incurred when setting up the machine. In addition, the holding costs for this item are $4.39 per unit per year. This hitch has a current batch size of 1,500 units per production run.Simone has determined that traditional EOQ is applicable for this problem. Determine the order quantity (EOQ) Simone should use if this determination is correct.

Don't round any numbers in the middle of the problem. Provide your answer to two (2) decimal places.

Answer:

EOQ = 323.05 units

Explanation:

Given the following:

Demand, D = 5656 units

Holding cost, H= $4.39 per unit per yr

Time for setup = 5.4 hours

Payment per operator = $15.00 per hour

Calculate for setup cost:

Set up cost, S = Setup time * payment

5.4 * $15 = $81

Find the order quantity, EOQ.

Take the expression

EOQ = \sqrt{\frac{D*S}{H}}

= \sqrt{\frac{5656 * 81}{4.39}

\sqrt{104358.997}

EOQ = 323.05 units

5 0
2 years ago
Read 2 more answers
True or False? Effective leaders have to be good managers or be supported by effective managers.
xz_007 [3.2K]
I think false because it they dont really have to be
3 0
3 years ago
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