Answer:
Uncollectible Accounts = $9,950
Explanation:
Uncollectible Accounts in :
Not yet due = $30,000 * 4% = $1,200
1-60 days = $15,000 * 25% = $3,750
more than 60 days due = $10,000 * 50% = $5,000
Total = $9,950
Answer:
The old machine should be replaced.
Explanation:
Note: See the attached excel file for the the analysis showing whether the old machine should be retained or replaced.
From the attached excel file, the following calculation are made:
Variable Manufacturing cost of Retain = Initial Variable Manufacturing cost * remaining useful life of old machine = $592,600 * 5 = $2,963,000
Variable Manufacturing cost of Replace = New Variable Manufacturing cost * Remaining useful life of new machine = $505,500 * 5 = $2,527,500
From the attached excel, it can be observed that the total cost of Retain is $32,200 higher than the total cost of Replace. This therefore implies that the old machine should be replaced.
Answer:
Long-run equilibrium.
Explanation:
When all firms earn zero economic profits producing the output level where P=MR=MC and P=AC and there is no incentive to leave or join the market, the market is in long-run equilibrium.
In a perfectly competitive market in long-run equilibrium, a long-run equilibrium avails firms the opportunity to adjust all inputs and all fixed costs are maximized. Also, it's characterized by free entry and exit, as such there isn't a fixed number of firms. This simply means that, since the number of firms in a long-run equilibrium can change, a firm must exit the market as a result of losses i.e when the firm is unable to cover its fixed costs in the long-run while new firms are allowed entry into the market when it anticipates potential profits or gains.
However, the firms always strive to maximize profits by increasing their level of output, such that P = MC. Also, the firms wouldn't be willing to leave or enter into the market because they are not making any profit, such that P=AC.
<em>In a nutshell, in the long run equilibrium P=MR=MC and P=AC.</em>
<em>Where, P represents the price. </em>
Answer:
c. Mischaracterized expense reimbursements
Explanation:
Note: I<u>t appears that the given question is incomplete. For reference purpose, a similar question has been attached and the question has been solved accordingly.</u>
Mischaracterized expense reimbursement refers to a type of fraud wherein a person claims personal expenses as business or office expenses. The expenses are actually incurred for personal purpose but shown and claimed as business expense. For e.g when an employee is on a business tour abroad, the expenditure incurred by him on entertainment being claimed as if the same was incurred for business purpose.
Reimbursement of personal travel as business expense is an example of Mischaracterized expense reimbursement scheme.