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3 years ago

Ensemble Co.

Business

1 answer:

anastassius [24]3 years ago

4 0

Answer:

Ensemble Co.

UNADJUSTED TRIAL BALANCE

ACCOUNT TITLE DEBIT CREDIT

1 Cash 42,900

2 Accounts Receivable 123,500

3 Prepaid insurance 27,000

4 Equipment 300,000

5 Accounts Payable 52,000

6 Salaries Payable 4,800

7 Common Stock 40,000

8 Retained Earnings 137,200

9 Dividends 5,000

10 Service Revenue 1,216,000

11 Salary Expense 660,000

12 Advertising Expense 275,000

13 Miscellaneous Expense 16,600

14 Totals 1,466,600 1,466,600

Explanation:

A Trial Balance is used to check for mathematical accuracy. It is a list of Debits and Credit prepared from Ledger Account.

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Let S represent the amount of steel produced (in tons). Steel production is related to the amount of labor used (L) and the amou

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S = 15 x $L^{0.2}$ x $C^{0.8}$

Total cost, T = wL + rC = 50L + 100C

Total revenue, R = Output price (P) x Quantity = P x 15 x $L^{0.2}$ x $C^{0.8}$

(a)

Optimization problem will be:

Max R = P x 15 x $L^{0.2}$ x $C^{0.8}$

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(b) When S = 50,000

Cost is minimized when (MPL / MPC) = w / r

MPL = $\partial$ R / $\partial$ L = P x 15 x 0.2 x $(C / L)^{0.8}$ = P x 3 x $(C / L)^{0.8}$

MPC = $\partial$ R / $\partial$ C = P x 15 x 0.8 x $(L / C)^{0.2}$ = P x 12 x $(L / C)^{0.2}$

MPL / MPC = (3/12) x (C / L) = 50/100

C / 4L = 1/2

4L = 2C

2L = C

Substituting in production function,

15 x $L^{0.2}$ x $C^{0.8}$ = S

15 x $L^{0.2}$ x $(2L)^{0.8}$ = 50,000

15 x $2^{0.8}$ x $L^{0.2}$ x $L^{0.8}$ = 50,000

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C = 2L = 3,829.00

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Note: This optimization problem can be solved without using Solver too, as shown here.

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3 years ago

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3 years ago

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Benchmarking should not be confused with espionage or competition, so the concepts of best practices and area of interest should be very clear. In this sense, for the organization it becomes an appropriate process, since it allows you to know to what extent it may be convenient to consider the actions against the established norm.

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3 years ago

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