Answer:
Must be exactly 8,000 people per hour.
Explanation:
Flow rate or throughput is the rate at which customers, goods, or services flow though a business process. It is usually measured as an average number of units that pass through a process per unit time.
In this scenario the people that entered the NASCAR venue were 8,000 people per hour.
So when people are coming out of the NASCAR venue average rate of flow out must be 8,000 people per hour.
The rate of units entering a business process must be equal to rate of units coming out per unit time.
Range for marginal cost = $20 to $50
Since at the price of $60 total Marginal revenue on demand curve two = $20
Total Marginal revenue on demand curve on =$50
Hence $60 for the product is optimum for the range of marginal cost from $20 to $ 50.
Since the optimum level of price is where marginal cost is equal to marginal revenue.
The marginal cost of production includes all costs that vary with that level of production. For example, if a company needs to build an entirely new factory to produce more goods, the cost of building the factory is the marginal cost.
Marginal Cost = Change in Total Cost / Change in Quantity. Change in Total Cost = Total Cost of Manufacturing Including Additional Units – Total Cost of Manufacturing Regular Units. Quantity Change = Full Quantity Product with Additional Units - Full Quantity Product in Regular Units.
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Answer:
(C) $26,000.
Explanation:
The debit to Finished Goods Inventory to record the completion of Job XX4 is the total cost for Job XX4 completion;
The job cost sheet showed $8,000 in direct labor at a rate of $20 per direct labor hour, then the total labor hour taken is 400 hours (= $8,000/ $20)
Factory overhead is applied at $30 per direct labor hour, then the total overhead is $12,000 (= 400 hours x $30 per hour)
The total cost = direct materials + direct labor + overhead = $6,000 + $8,000 + $12,000 = $26,000
Answer:
C. decreasing output would increase the firm's profit.
Explanation:
The marginal concept explain the benefit or the cost that a company or firm gets of produce and additional unit of their product. In this case the marginal costs exceeds the marginal revenue, It means that the actual level of revenue isn't producing the optimum profit that could reach if the company decrease the output, for example
Marginal Cost= $1.20
Marginal revenue =$1
Difference = $1 - $1.20
= -$0.20
It means that the revenue of the firm increase but not at the same level that the marginal cost, that in this case is higher, it means that every additional unit affects negative the profitability of the company.