The law of diminishing marginal returns holds for a situation in which some inputs are variable and some inputs are fixed.
<h3>What is the law of
diminishing marginal returns?</h3>
The law of diminishing marginal returns states that after some optimal level of capacity is reached in a production process, an additional factor of production would result in a lessening of output (quantity of production).
In this context, we can infer and logically deduce that the law of diminishing marginal returns would only hold for an economic situation in which some inputs are variable and some inputs are fixed.
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Answer:
The journal entries are shown below:
Explanation:
The journal entries are shown below:
On July 15
Purchases (2,100 × $40) $84,000
To Accounts Payable $84,000
(Being the purchase is recorded)
On July 23
Account payable $84,000
To Purchase discount $2,520 ($84,000 × 3%)
To Cash $81,480
(Being the payment is recorded)
On August 15
Account payable $84,000
To cash $84,000
(Being the payment is recorded)
Answer:
$47439.50
Explanation:
For a single tax payer if your taxable income range is $200,000 - $500,000 then your income tax is $45,689.50 + 35% of amount over $200,000 of taxable income.
Income tax liability = $45689.50+{ 205000-200000)×35%}
$45689.50+(5000×35/100)
$45689.50+(5000×0.35)
$45689.50+1750
= $47439.50
The income tax liability will be $47439.50
Answer:
Net Income Bargain Electronics would realize by accepting the special order is - $ 24,000
Explanation:
Bargain Electronics is operating at full capacity, therefore the fixed costs are relevant at this decision.
<u>Incremental Costs and Revenues - Special Order 3000 units</u>
Sales ( 3000 × $25) 75,000
Variable Cost (3000× $20) (60,000)
Fixed Costs (3000× $10) (30,000)
Shipping Costs ( 3000×$3) (9,000)
Net Income -24,000
Answer:
$143137.25
Explanation:
Given that:
The annual gross income = $54000
The monthly gross income = $54000/12
= $4500
Using the PITI guideline, a mandatory expense of 38% of monthly income is applied.
So;
Expense = $4500 × 38% = $1710
Additional Monthly debt = $810
Cost of Prop. Taxes and H.O insurance = $170
Monthly Balance left = $1710 - $(810 + 170) = $730
Mortgage payment factor = 6.00
Monthly mortgage payment = 
= $121666.67
Affordable home purchase price = 
= $143137.25
