Answer:
$90,139.00
Explanation:
ending Work in process inventory = Beginning WIP + Direct Materials + Direct labor + Material Overhead - Cost of goods manufactured
Beginning Work In Progress = 0
Direct Materials = 0.80*$96,300
= $77,040
Direct labor = $57,300
Material Overhead = indirect labor + other manufacturing head
= $14,900 + $108,300
= $123,200
ending Work-in-Process Inventory
= beginning inventories + direct material + direct labor + material overhead
= (0 + $77,040 + $57,300 + $123,200)*0.35
= 257,540*0.35
= $90,139
Therefore, The value of the ending Work-in-Process Inventory is $90,139.
From the calculation below, the profit-maximizing labor input is 0.0625, and the profit of the firm is 0.125.
<h3>How do we determine profit-maximizing labor input and profit?</h3>
From the question, we can obtain:
R = Revenue = Q*P = L^0.5 * 1 = L^0.5
C = Cost = w * L = 2L
P = Profit = R - C = L^0.5 - 2L
To obtain the profit-maximizing labor input, the first derivative of P is taken, equated to zero, and we solve for L as follows:
P' = 0.5L^-0.5 - 2 = 0
0.5L^-0.5 = 2
L^-0.5 = 2 / 0.5
L^-0.5 = 4
L^(-0.5/-0.5) = 4^(-1/0.5)
L = 0.0625 ----> profit-maximizing labor input
The profit (P) of the firm can now be calculated by substituting L = 0.0625 into the P function as follows:
P = 0.0625^0.5 - (2 * 0.0625) = 0.125 --------> Profit of the firm
Learn more about profit function here: brainly.com/question/16866047.
#SPJ1
Answer:
The answer of the exercise is attached in the microsoft excel document.
Explanation:
There are two images attached. The first one has the answers, and the second one have the operations displayed and necessary to obtain the results demanded.
Answer:
Foreign uncontrollable environmental elements
Explanation:
The unwritten rule is a foreign uncontrollable environmental element that affects the cultural environment of the factory. As a manager, James cannot control or influence this type of events or circumstances, and instead must adapt his facility's operations.
