<span>Fair market value should include as gross income in Lyles return for the receipt of these samples. It is the estimate of the market value of a property when the buyer and seller are knowledgeable and unpressured. Precedent or extrapolation helps in finding the Fair market value estimate.</span>
Answer: (i) $20 per model
(ii) $27 per model
(iii) Ginny has a comparative advantage in building models.
Explanation:
A country or a firm has a comparative advantage in producing a commodity if the opportunity cost of producing that commodity in terms of other commodities is lower than the other country or firm.
Opportunity cost is the benefit that is foregone for an individual by choosing one alternative over other alternatives available to him.
If the opportunity cost is lower for an individual then this will benefit him whereas if the opportunity cost is higher then this will not benefit the individuals.
Therefore,
Ginny's Opportunity cost of producing one model = 
= $20 per model
Eric’s opportunity cost of building models = $20 + 35% of $20
= $20 + $7
= $27 per model
Hence, Ginny has a comparative advantage in building models because Ginny's opportunity cost of building model is lower than Eric's opportunity cost.
Answer:
Cost of purchase= $1,014,300
Explanation:
Giving the following formula:
Production:
August= 22,600
September= 21,300
Ending inventory= 20% of the following month's production needs.
Beginning inventory= 10,800 kg
The cost of Jurislon is $18.00 per kilogram.
One Miniwarp requires 2.5 kilograms of the raw material Jurislon.
<u>First, we need to calculate the purchases in kg required using the following formula:</u>
Purchases= production + desired ending inventory - beginning inventory
Purchases= (2.5*22,600) + (2.5*21,300)*0.2 - 10,800
Purchases= 56,350kg
<u>Now, the total cost of purchase:</u>
Cost of purchase= 56,350*18= $1,014,300
Corporate culture is important as it guides how the workers in a company act and think.
<h3>What is corporate culture?</h3>
It should be noted that corporate culture simply means the behaviors that determine how the employees of a company interact.
In this case, corporate culture is important as it guides how the workers in a company act and think.
Learn more about culture on:
brainly.com/question/25010777
#SPJ1
Answer:
a. What is the MRP? What is the MRC? Should the firm add this delivery vehicle?
marginal revenue product = marginal product of labor x marginal revenue per output unit
MRP = 1,500 packages x $0.10 per package = $150
marginal resource cost (MRC) = $100 (the cost of renting the delivery truck)
The company should add the delivery truck because MRP is higher than MRC.
b. Now suppose that the cost of renting a vehicle doubles to $200 per day. What are the MRP and MRC in this situation?
MRP = $150 (doesn't change from question a)
MRC = $200 (the cost of renting the delivery truck)
The company should not add the delivery truck because MRP is less than MRC.
c. Next suppose that the cost of renting a vehicle falls back down to $100 per day, but, due to extremely congested freeways, an additional vehicle would only be able to deliver 750 packages per day. What are the MRP and MRC in this situation? Would adding a vehicle under these circumstances increase the firm's profits?
MRP = 750 packages x $0.10 per package = $75
MRC = $100
The company should not add the delivery truck because MRP is less than MRC.
