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12345 [234]
3 years ago
10

A trading firm ABC, Inc. has been in continuous existence for the past 20 years. In the year 2004 it purchased 2000 baseball bat

s for $ 6 each and sold 1700 of these for $10 each. What was the profit or loss of the firm in 2004
Business
1 answer:
OlgaM077 [116]3 years ago
5 0

Answer: $6,800

Explanation:

Profit (loss) = Revenue - Cost of goods sold

Cost of goods sold = Purchases - closing stock

= (2,000 * 6) - (300 * 6)

= $10,200

Total Revenue:

= 1,700 * 10

= $17,000

Profit = Revenue - cost of goods sold

= 17,000 - 10,200

= $6,800

<em />

<em>(closing stock is 300 because 1,700 units were sold)</em>

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What is equilibrium wage?
slavikrds [6]

Answer:

This means that the equilibrium wage rate and employment will be determined by the intersection of the horizontal labour supply curve, and the downward sloping MRP (D) curve. The wage rate is determined by the whole market, and this sets the wage rate for all firms in the market.

Explanation:

hi :)

3 0
1 year ago
Read 2 more answers
What's the present value of a perpetuity that pays $250 per year if the appropriate interest rate is 5%
KengaRu [80]

Answer:

PV of Perpetuity = $5000

Explanation:

A perpetuity is a series of cash flows that are constant, occur after equal intervals of time and are for infinite period of time or are perpetual. Thus, it is like and annuity but with an infinite time period. The formula for the present value of of perpetuity is,

PV of Perpetuity = Cash Flow  /  r

Where,

  • r is the required rate of return

PV of Perpetuity = 250 / 0.05

PV of Perpetuity = $5000

3 0
3 years ago
Jobs Inc. has recently started the manufacturer of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks
trapecia [35]

Answer:

Jobs Inc.

1. The offer should not be accepted.

2. The offer should be accepted.

Explanation:

a) Data and Calculations:

Units of Tri-Robos to be manufactured = 21,300

Costs of manufacturing:

Direct materials                                        $1,086,300

Direct labor ($39 per robot)                         830,700

Variable overhead ($5 per robot)                106,500

Allocated fixed overhead ($28 per robot) 600,000

Total                                                        $2,623,500

Unit cost = $123.17 ($2,623,500/21,300)

Price from Tiench Inc per unit = $113

Total offer price = $2,406,900 ($113 * 21,300)

                               Make           Buy     Net Income Increase (Decrease)

Direct materials    $1,086,300    $ $

Direct labor                830,700

Variable overhead     106,500

Fixed overhead          195,000

Purchased price                          2,406,900

Totals                    $2,218,500  $2,406,900 $188,400 Decrease

                                                                      Make           Buy    

Direct materials                                        $1,086,300

Direct labor ($39 per robot)                         830,700

Variable overhead ($5 per robot)                106,500

Allocated fixed overhead ($28 per robot) 600,000

Total                                                        $2,623,500 $2,406,900

Opportunity cost                                          375,000

Total                                                        $2,998,500 $2,406,900 $591,600

8 0
3 years ago
Greece can produce either 100 bushels of oranges or 20 bushels of tomatoes using all of its available resources, and Turkey can
lakkis [162]

Answer:

100 bushels of oranges

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

for Greece

opportunity cost of producing oranges = 20 / 100 = 0.2

opportunity cost of producing tomatoes = 100/ 20 = 5

For turkey

opportunity cost of producing oranges = 30 / 40 = 0.75

opportunity cost of producing tomatoes = 40 / 30 = 1.33

Greece has a comparative advantage in the production of oranges. If it specialises in the production of oranges, it would produce 100 bushels

8 0
3 years ago
Tariffs refer to
viva [34]

Answer:  government taxes on products or services entering a country that primarily serve to raise prices on imports.

Explanation:

Tariffs are known to be taxes which the government of a particular country charges on goods and services which are imported into the country from other countries. It is a form of trade protection which the government uses in protecting local companies. Thus, the government imposes taxes on imported goods in order to make the prices of the goods high so that citizens can buy local or domestic goods and as a result encourage domestic companies to produce more of the local goods.

5 0
3 years ago
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