The accompanying payoff matrix presents the profits for Firm A and Firm B under two pricing strategiesSuppose both firms have agreed to employ strategies that maximize their combined profits. How will the firms act?

Firm A and B will both set high price. If both firms secretly cheat both firms will make a profit of $79.

Profit is defined in economics as the difference between an economic entity's total cost of inputs and the money it has generated from its outputs. Total income less total expenses, including both direct and indirect expenses, equals total cost. In contrast to accounting profit, which solely refers to costs that are explicitly stated on a company's financial accounts, it also includes implicit costs. The accounting profit of a corporation is determined by deducting simply its explicit costs from its total revenue. An economist takes into account both apparent and implicit expenses when assessing a firm. Therefore, economic profit is lower than financial profit.

To solve the question :

If both the firms aim at maximizing their combined profits, they will both charge high price as it will yield a combined profit of $174 (= $87 + $87). If one firm charge low price, and the other firm charges a high price, combined profit will be $166 (= $113 + $53) and if both the firms charge low price, combined profit will be $158 (= $79 + $79)

Therefore, firm A will set a high price and firm B will set a high price

If firm A secretly cheats and charge a low price, it will earn a profit of $113, while firm B will earn a profit of $53.

Therefore, the additional profit made by firm A when cheating is $26

(= $113 - $87).

If both the firms secretly cheats, both will earn a profit of $79.

Therefore, the fall in the profits of firm A when both are cheating instead of both respecting the collusive agreement is $8 (= $87 - $79).

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On January 5, Barnaby, Inc., purchased a patent costing $100,000 with a useful life of 20 years. The company records its adjusting entries at the end of each year on December 31.
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3 ethical concerns

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B) reject accept
C) accept accept
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Round your answers to the nearest dollar.

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Original Budget Actual Costs
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On June 30, 2018, Streeter Company reported the following account balances:
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Equipment (net) 24,100 Retained earnings (100,000 )
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On June 30, 2021, Princeton Company paid $316,500 cash for all assets and liabilities of Streeter, which will cease to exist as a separate entity. In connection with the acquisition, Princeton paid $12,700 in legal fees. Princeton also agreed to pay $63,800 to the former owners of Streeter contingent on meeting certain revenue goals during 2022. Princeton estimated the present value of its probability adjusted expected payment for the contingency at $20,100.
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It has developed a customer list appraised at $25,200, although it is not recorded in its financial records.
It has research and development activity in process with an appraised fair value of $36,400. However, the project has not yet reached technological feasibility and the assets used in the activity have no alternative future use.
Book values for the receivables, inventory, equipment, and liabilities approximate fair values.
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1. First Entry Record the acquisition of Streeter company.
2. Second Entry Record the legal fees related to the combination.

Park Co. is considering an investment that requires immediate payment of $27,215 and provides expected cash inflows of $8,400 annually for four years. Assume Park Co. requires a 8% return on its investments. 1-a. What is the net present value of this investment

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Diamond Company manufactures two models of cassette recorders: VCH and MTV. Based on the following production data for April, prepare a production budget.

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Desired inventory (units), April 30 6,900 5,250
Expected sales volume (units):
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Midwest zone 19,000 19,800
Western zone 14,500 9,840

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Enter a negative number if the coefficient estimate is negative, and round your response to two decimal places.
lnQ=C ____ + _____ InP+ _____ InM
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What is the amount of the company's accounts receivable?

Assigning manufacturing overhead costs and other indirect costs is called a:

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Required:
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3. Record declaration of property dividend.
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5. Record the payment of the property dividend.

Assume that last year, Cliff Consulting, a firm in Berkeley, CA, had the following contribution income statement:
CLIFF CONSULTING
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Sales revenue $ 1,200,000
Variable costs
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Contribution margin 660,000
Fixed Costs -selling and administrative 440,000
Before-tax profit 220,000
Income taxes (21%) 46,200
After-tax profit $ 173,800
(a) Determine the annual break-even point in sales revenue.
(b) Determine the annual margin of safety in sales revenue.
(c) What is the break-even point in sales revenue if management makes a decision that increases fixed costs by $80,000?
(d) With the current cost structure, including fixed costs of $440,000, what dollar sales revenue is required to provide an after-tax net income of $250,000?
(e) Prepare an abbreviated contribution income statement to verify that the solution to requirement (d) will provide the desired after-tax income.

According to the standard cost card, each helmet should require 0.52 kilograms of plastic, at a cost of $8.00 per kilogram. Required: 1. What is the standard quantity of kilograms of plastic (SQ) that is allowed to make 3,400 helmets? 2. What is the standard materials cost allowed (SQ × SP) to make 3,400 helmets? 3. What is the materials spending variance? 4. What is the materials price variance and the materials quantity variance?

Kim works for a clothing manufacturer as a dress designer. During 2020, she travels to New York City to attend five days of fashion shows and then spends three days sightseeing. Her expenses are as follows:

Airfare $1,800
Lodging (8 nights) 2,340
Meals (8 days) 2,160
Airport transportation 115

Assume lodging/meals are the same amount for the business and personal portion of the trip ($293 per day for lodging and $270 per day for meals).

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a. Presuming no reimbursement, how much can kim deduct as to the trip?
b. Would the tax treatment of Kim's deduction differ if she was an independent contractor (rather than an employee)? Explain.

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Allocated variable overhead 570,000
Allocated fixed cost 230,000
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a. Allocated variable overhead, $570,000
b. Direct labor, $2,450,000
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d. Direct materials used, $680,000.