Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after the decimal.
1a. What is the total cost when producing zero units?
total cost: $
1b. What is the marginal cost for the first unit?
marginal cost: $
1c. What is the average total cost when producing three units?
average total cost: $
1d. What is the average variable cost when producing four units?
average variable cost: $
Answers
The total cost when producing zero units is $20.
The marginal cost for the first unit is $50.
The average total cost when producing three units is $65.67.
The average variable cost when producing four units is $98.
What are cost functions?Fixed cost is cost that remains constant regardless of the output produced. It remains constant regardless the level of output. An example of fixed cost is rent. Average fixed cost is fixed cost divided by total output.
Variable cost is the cost that increases with the level of output. It increases the more output is produced. An example of variable cost is wages paid to labor. the average variable cost when producing four units. Average variable cost is variable cost divided by total output.
Total cost is the sum of fixed cost and variable cost. Average total cost is total cost divided by total output.
Marginal cost is the change in total cost.
Total cost of producing zero units = fixed cost + variable cost
$20 + 0 = $20
Marginal cost of the first unit = (total cost of the first unit - total cost of the zero unit) / (2 - 1)
total cost of the first unit = (average variable cost x total output) + fixed cost
$20 + 50 = $70
Marginal cost = (70 - 20) / (2 - 1) = $50
The average total cost when producing three units = Total cost / total units
Total cost of three units = marginal cost of three units + total cost of two units
Total cost of two units = 105 + 92 = $197
The average total cost = $197 / 3 = $65.67
The average variable cost when producing four units = (412 - 20) / 4 = $98
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Related Questions
The inventory costing method that has the advantages of assigning an amount to inventory on the balance sheet that approximates its current cost, and also follows the actual flow of goods for most businesses is: Multiple Choice FIFO. Weighted average. LIFO. Specific identification. Lower of cost or market.
Answers
The inventory costing method that has the advantages of assigning an amount to inventory on the balance sheet that approximates its current cost is FIFO.
What is FIFO?
FIFO means first in, first out. It is an inventory cost method that assigns the cost of goods sold to the inventory that is first purchased. Ending inventory which is recorded in the balance sheet is made up of the inventory purchased the latest.
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Shawn has $2,500 invested at a guaranteed rate of 4.35 percent, compounded annually. What will his investment be worth after five years
Answers
Based on the information given his investment be worth after five years is: $3,093.16.
Future valueUsing this formula
FV (5) =Principal×(1+Rate)^ Time
Where:
Principal=$2,500
Rate=4.35%
Time=5 years
Let plug in the formula
FV (5) = $2,500 x( 1+.0435)^5
FV (5) = $2,500 x( 1.0435)^5
FV (5) = $3,093.16
Inconclusion his investment be worth after five years is: $3,093.16.
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U.S. oil and gas producers have asked for tariffs to be placed on imported oil in an effort to boost the domestic oil industry, which is facing stiff competition from foreign oil producers. This is an example of
Answers
The efforts of U.S. oil and gas producers to request the imposition of tariffs on imported oil in order to boost the domestic oil industry is an example of b. protectionism.
What is trade protectionism?Trade protectionism is an economic policy that restricts imports from other oil producing countries by imposing tariffs on imported oil. Other methods of practicing trade protectionism are import quotas and other government regulations.
Answer Options:a. free trade
b. protectionism
c. comparative advantage
d. global marketing
Thus, the efforts of the U.S. oil and gas producers is not an example of free trade, comparative advantage, or global marketing but protectionism.
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After successfully rehabbing the Peace Cross and beautifying the area around it, Brady and Roger received an influx of business inquiries. New customer calls came in for them to build, renovate and make beautiful spaces. With each new customer, contracts were required. One day a new client came in to inquire about the building of a state of the art castle. It was an unusual request, but Roger felt they could meet the customer's goals. Their business is based in Pocomoke City, Maryland, which is about 20 minutes from the client's prospective home.
The customer's name is Elsa Winters. She lives in Loveville, Maryland. But, she wants Brady and Roger of Old Time Restorations to build her a castle in Arendelle, Maryland. She wants the castle to resemble ice. Obviously, ice would melt in Maryland summers, but she has a vision of floor to ceiling windows that shimmer in the sun. She wants the castle built in the mountains, overlooking the Chesapeake Bay. Assume that all permits, engineering studies, and licenses have been approved. The plans for the castle are complete. She wants the house to be a deep blue on the outside, filled with ship lap, lots of windows, and solar lights. She wants white and blue to be the interior colors. She wants radiant heat floor heating, water sourced from the bay, an indoor pool, and an indoor herb garden. She also wants a room that is sound proof with marble flooring so she can work on her ice making skills without bothering other people in the castle. Of particular importance, she wants a large white cross in the center of her ballroom. She says it needs to look like the Peace Cross because she had family members who served in that war. It is important that her parents' names are engraved on the cross. Roger and Brady are confident that they can make this cross happen because of their recent renovation and repair of the cross.
The jurisdiction is Maryland. The project must be completed in 9 months. The complete price for the project is $2.5 million. The contract date is December 13, 2019 and completion must be made by September 13, 2020. For each day that the project is not completed, $1,000.00 is reduced from the contract. It doesn't matter if weather, delivery or technology prevents completion. However, an act of God would not cause this clause to kick in. Time is of the essence because Elsa's sister, Anna, is marrying her beloved Sven and the new castle will be the venue. Any customizations or changes to Elsa's wishes must be put in writing. If there is any dispute, the parties have agreed to use binding arbitration.
This Agreement is made between ____________________ ("Client") with a principal place of business at __________________ and _______________ ("Contractor"), with a principal place of business at ____________________________.
Answers
This Agreement is made between _Elsa Winter_ ("Client") with a principal place of business at _Loveville, Maryland__ and _Old Time Restorations_ ("Contractor"), with a principal place of business at __Pocomoke City, Maryland__.
The above is an example of a legally enforceable and valid contract.
What is a contract?A contract is a legally enforceable agreement, usually between two or more parties, that creates, defines, and governs the mutual rights and obligations among the contracting parties.
A valid enforceable contract must meet these conditions:
OfferAcceptanceMeeting of the MindsConsiderationCapacityLegality.Thus, the agreement is between Elsa Winter as the client and Old Time Restorations with both principal office and residence in Maryland.
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At the Horizons Company, Paul is an intermediary in the global market, and he assumes all ownership risks and sells globally for its own account. Paul serves as _______
Answers
Paul serves as a buyer of export because as an intermediary, he assumes all ownership risks and sells globally for its own account.
Who is a buyer of export?A buyer of export means an individual or entity that sell goods or services or ship goods to a foreign country or countries.
In conclusion, here, paul serves as a buyer of export because as an intermediary, he assumes all ownership risks and sells globally for its own account
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Consumer Protection Acts on Marketing Functions
Answers
Answer:
Marketing must not be misleading or deceptive, for example, suppliers must not: give untrue characteristics about themselves, or their goods or services; or. ... A supplier must advertise goods or services only if they are available and can be supplied.
A company makes bikes from recycled metal. For a recent job lot of 200 bikes, the company incurred direct materials costs of $6,000 and direct labor costs of $2,000. Factory overhead applied to this job is $9,000. What is the cost per bike
Answers
Based on the number of bikes produced and the costs incurred, the cost per bike would be $85 per bike.
First find the total cost of producing all the bikes.
Total cost of production= Direct materials + Direct labor + Factory overhead
= 6,000 + 2,000 + 9,000
= $17,000
What is the cost per Bike?= Total cost of production / Number of bikes
= 17,000 / 200
= 85 bikes
In conclusion, it was $85 per bike.
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Table 101.22
Production Capability
Containers of Laptops Containers of Synthetic Grass
390 containers/unit
125 containers/unit
China has 1200
production units:
Australia has 1200
production units:
150 containers/unit
100 containers/unit
Refer to Table 101.22 If each country specialises in their production with China producing only laptops and Australia producing
only synthetic grass, at a trading rate of two laptops per synthetic grass, how many synthetic grass and laptops will be
available to be consumed in China if they trade 170,000 laptops to Australia?
O a. 298,000 laptops and 85,000 synthetic grass
Ob 29.800 laptops and 8,500 synthetic grass
c. There is not enough information to answer this question.
O d. 300,000 laptops and 618,000 synthetic grass
Next page
Answers
At a trading rate of two laptops per synthetic grass, the number of synthetic grass and laptops that will be available to be consumed in China, if they trade 170,000 laptops to Australia is a. 298,000 laptops and 85,000 synthetic grass.
What is the trading rate?The trading rate is the exchange rate that is used by two countries to exchange goods and services based on the value of their currencies.
In this case, the agreed trading or exchange rate between China's Laptops and Australia's Synthetic Grass is two laptops per synthetic grass.
Data and Calculations:Table 101.22
Production Capability Containers of Containers of
Laptops Synthetic Grass
China's production 390 containers/unit 125 containers/unit
China has 1,200 units 234,000 75,000
(390 x 1,200/2) (125 x 1,200/2)
Australia's production 150 containers/unit 100 containers/unit
Australia has 1,200 units 90,000 60,000
(150 x 1,200/2) (100 x 1,200/2)
Production with specialization:
China produces Laptops only 468,000 (1,200 x 390) 0
Australia will produce Grass only 120,0000 (1,200 x 100)
Trade Exchange (170,000) (85,000) (170,000/2)
Available for consumption after trade 298,000 35,000
(468,000 - 170,000) (120,000 - 85,000)
Thus, at a trading rate of two laptops per synthetic grass, the number of synthetic grass and laptops that will be available to be consumed in China, if they trade 170,000 laptops to Australia is a. 298,000 laptops and 85,000 synthetic grass.
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An expense resulting from failing to take advantage of cash discounts when using the net method of recording purchases is called: Discounts earned. Purchases discounts. Discounts lost. Sales refund payable. Sales discounts.
Answers
The account that an expense is recorded in when a cash discount is not taken advantage of is known as Discounts lost.
What is the Discounts lost account?It is an account found in the general ledger that shows the amount that a company lost when it failed to pay within a certain period that would have allowed it to take advantage of discounts offered.
As it is an expense account, its normal balance will be a debit and will increase when discounts are lost.
In conclusion, option C is correct.
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Synopsis of money banking and financial markets fourth edition.
Answers
If a business has received cash in advance of services performed and credits a liability account, the adjusting entry needed after the services are performed will be:
Answers
If a business should record a liability for cash received in advance for services performed, the adjusting entry would be to debit unearned revenue and credit service revenue.
Why is this the adjusting entry?The liability created is called the Unearned revenue account and because it is being reduced, it will be debited as all liability accounts are when they are reduced.
Service revenue will then be credited because revenue is credited when it increases. The cash becomes revenue because it has now been recognized for the services performed.
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Angelina and Sophia attended a professional development retreat at Ferncliff Camp. They met at a downtown location and traveled to the camp by bus. After three days of team-building exercises, Angelina and Sophia returned on the bus to their respective cars. When Angelina arrived at home, she discovered the camp employee who unloaded the bus had given her Sophia’s luggage by mistake. She called the camp to explain what happened and hopefully get her luggage back. Angelina can be charged with the crime of: ___________
a. theft, because she took Sophia’s suitcase without permission.
b. nothing, because she did not have the mental state required to commit a crime.
c. theft by receiving, because the suitcase was handed to her by a camp employee.
d. conversion.
Answers
Angelina can be charged with the crime of nothing, because she did not have the mental state required to commit a crime.
Is the mental state that a person intended to commit a crime?In a lot of cases, an act is a crime when the person committing it is said to have intended to do something that is wrong as stated by the state legislature or Congress.
It is said to be criminal intent but the case with Angelina is different because she did not have the mental state to do so as it was a mistake.
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what is breakeven in dollars and units
Answers
Answer:
Explanation:
Break even point in accounting and economics is the point at which the total cost of producing goods and total revenue are equal i.e the point a business does not experience either loss or gain.
Break even Analysis is basically used in determining the number of units or dollars of revenue needed to cover total costs.
from the above analysis we are asked to find breakeven in dollars and units.
to find Breakeven in units = FIXED COSTS / (SALES PRICE PER UNIT - VARIABLE COSTS PER UNITS)
fixed costs remains the same = $27, 136
the company enacted 10% increase in the
new sales price per unit will be ( 100 + 10% = 110% 1.1
( 1.1 x 130 ) = 141.
new variable price per unit = ( 1.1 x 98) = 107.8
breakeven in units = 27,136 / ($141 - $107.8)
27,136/ 33.2 = $817.349 , to nearest whole number = 817.35
breakeven in dollars = Fixed price / Contribution Margin
since, 10% increment has been enacted, our contribution margin would change too.
we then calculate contribution margin with the formula
(Sale price per dollar– Variable costs per dollar)
sale price = 1.1 x 124800 = 137,800
variable cost per dollar = 1.1 x 94080 = 103,488
contribution margin = 137800 - 103488 = 34,312.
break even in dollar = fixed price / contribution margin
27136/ 34312 = $0.790
what is the meaning of Accounting?
Answers
Accounting is the process of recording financial transactions pertaining to a business.
Answer:
The meaning of accounting is the action of dealing with money like a bank for a example.
Codes of ethics:
Group of answer choices
deal only with the employees’ relationships with customers and with no other group
contain common ethical dilemmas and provide the appropriate resolutions to employees
are typically informal information about how to recognize and deal with ethical problems
deal only with external ethical issues and not with internal issues
may be influential in determining a person’s decision-making behavior
Answers
It should be noted that codes of ethics are typically informal information about how to recognize and deal with ethical problems.
What are ethics?Ethics can be regarded as the rules that is required to be followed by the employee as well as the members of the organization in their profession.
Therefore, codes of ethics are typically informal information about how to recognize and deal with ethical problems.
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Answer: may be influential in determining a person’s decision-making behavior
Explanation: Thats's the correct answer on the test or quiz. The answer above by the "expert" is wrong.
A firm is considering leasing. The firm can borrow at 9 percent, and the marginal corporate tax rate is 21 percent. What is the discount rate for valuing the lease
Answers
Based on the rate at which the firm can borrow and the marginal corporate tax rate, the discount rate for the lease would be 7.11%.
What would be the discount rate?The discount rate is the after tax borrowing rate.
It can be found as:
= Borrowing rate x ( 1 - tax rate)
Solving gives:
= 9% x ( 1 - 21%)
= 7.11%
In conclusion, the discount rate is 7.11%.
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What is sub-optimization and what organizational characteristics tend to lead to larger sub-optimization problems?
Answers
An organizational characteristics that tend to lead to larger sub-optimization problems is continuous focus on optimizing a unit of a business rather than the results of the entire business
What is Sub-optimization?In a firm. the term "Sub-optimization" occurs when there is reduced level of output as a result of an an inefficient or ineffective process or system.
The problem associated with Sub-optimization is that when there is an optimization of outcome for a subsystem, it may not generally optimize the outcome for the system as a whole.
In conclusion, the organizational characteristics that tend to lead to larger sub-optimization problems is continuous focus on optimizing a unit of a business rather than the results of the entire business
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Krista Lee can purchase a service contract for all of her major appliances for $180 a year. If the appliances are expected to last for 10 years and she earns 5 percent on her savings, what would be the future value of the amount Krista will pay for the service contract
Answers
The future value of the amount Krista will pay for the service contract is: $2,264.
Future valueUsing this formula
FV=Annual payment × Future value annuity factor
Where:
Annual payment =$180
Future value annuity factor=(10 years;5%)=12.5779
Let plug in the formula
FV=$180× (10 years;5%)
FV=$270 × 12.5779
FV=$2,264
Inconclusion the future value of the amount Krista will pay for the service contract is: $2,264.
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Rene is a new Processing Technician. You are explaining where she would find specific information in the EHR for her various work duties. Since one of her areas is R-ADT productivity, she will have access to the MPI and DSS but not the CIS. Identify the function that does not fall under the CIS.
Group of answer choices
A. Quality improvement
B. surgery
C. nursing
D. pharmacy
Answers
B. Surgery
Hope this helps you
The function that does not fall under the CIS or Clinical Information System for the new Processing Technician focused on R-ADT productivity is C. nursing.
What is nursing?Nursing involves all the healthcare activities of nurses in the promotion of health, prevention of illness, and the care of ill, disabled, and dying patients.
Nursing also promotes a safe environment, conducts research, participates in shaping health policy and patient and health systems management, and education.
On the other hand, R-ADT productivity deals with the recording, admission, discharge, and transfer activities in the clinical information system.
Thus, the function that does not fall under the CIS or Clinical Information System is C. nursing.
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The Balance Sheet Identity is:
A. The value of the Owners Equity
B. The same as the Net Working
C. Capital The Sum of all assets minus the liabilities
D. Assets=Liabilities Owners Equity
E. Assets Liabilities = OwnersEquity
Answers
Answer: D
Explanation: Assets = Liabilities + Owners Equity
Suppose that you have purchased a 3-year zero-coupon bond with face value of $1000 and a price of $850. If you hold the bond to maturity, what is your annual return?
Answers
Answer:
Explanation: In this situation, our profits would be $150 ($1000-$850). The total return on investment is 17.65% ($150/$1000) for the life of the bond.
Therefore, the annual return, is simply 1/3 of 17.65%, which equals 5.88%.
If you have purchased a 3-year zero-coupon bond with face value of $1000 and a price of $850 and if you hold the bond to maturity, the annual return is simply 1/3 of 17.65% ,which equals 5.88%
What is zero-coupon bond?A zero-coupon bond is a bond that pays no interest and trades at a discount to its face value. It also called a pure discount bond or deep discount bond.
A zero-coupon bond is also known as accrual bond.
U.S. Treasury bills are an example of Zero-Coupon bond.
What is face value? Face value is an actual value of the digit in a number.Face value is the price that is printed on something.What is bond to maturity?A bond to maturity, is usually set when it is issued. Bond maturities can range from one day to 100 years, but the majority of bond maturities range from one to 30 years. Bonds are often referred to as being short-, medium- or long-term.
What is annual return?The annual return is the return that an investment provides over a period of time. it's a record of publicly available information about your company that appears on the Companies Register.
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What is the correct ICD-10-CM code for Myasthenia gravis in crisis ?
Answers
Answer:
01 is a billable ICD code used to specify a diagnosis of myasthenia gravis with (acute) exacerbation ? G70. 01.
A bank account pays interest at a nominal annual rate of 8.4%, compounded monthly. The account initially contains $100 and no new deposits are made, but any interest earned is kept in the account. To the nearest cent, what is the balance in the account after six years? (A) $108.73
Answers
Answer:
The ballance after six years will be $108.72 when rounded off to the nearest cent
You are repairing an HP notebook that uses several types of electronic repair tapes. What should you be sure to do when servicing products that use adhesives and tapes? Select the correct response.
Answers
The thing to do when making a repair of a HP notebook with several types of electronic repair is to:
Replace the tape if it does not provide adequate adhesion. What is Laptop Repair?This refers to the diagnosis and the solution to a laptop or PC problem using a set of tools.
With this in mind, we can see that when making a repair of a HP notebook which has electronic repair tapes, we would have to replace the tape if it does not provide adequate adhesion with the tapes.
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Under what conditions is the current organizational structure of Dropbox most likely to be effective
Answers
When there is a single business mission, the current organizational structure of Dropbox is most likely to be effective. Option (A) is correct.
What is organizational structure?A company's functions, teams, and personnel are outlined hierarchically in an organizational structure. Organizational structures outline the duties of employees, who they answer to, and how corporate decisions are made. Your organizational structure must at the very least incorporate fundamental hierarchies and staff titles.
When you launch a business, your business plan often includes a mission statement. It explains the reason behind your business' existence and serves as a method for the public to learn about it. By keeping you on target, developing your goal statement aids in business unification and potential business blunders.
Therefore, Option (A) is correct.
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Your question is incomplete, the complete question will be;
Under what conditions is the current organizational structure of Dropbox most likely to be effective?
A) When there is a single business mission
B) When the organization is following a product development strategy
C) When following an unrelated diversification strategy
D) When following a related diversification strategy for the business
Respond to the following in a minimum of 175 words: Most schools and businesses require some standard style of documentation for written reports. Discuss why that might be. What disadvantages, if any, might there be to insisting that all reports conform to a certain style?
Answers
I believe that most schools and businesses require the knowledge of standard styles of documentations, because it plays as an extremely important role in communication. In grade school we all learn the basics of writing in English courses. There’s a difference in styles and expectations when it comes to college level writing. The type of writing I’ve been required to complete APA style most college courses go by this template. With following proper guidelines with APA there’s certain grammatical punctuation needed, citations, references, which type of paper is being written ( ex:argumentative) . There’s usually a minimum word count to be met. Being able to write and produce good documents also show the intelligence of how well the information given to you is reciprocated. How well you can share information off to others. Some disadvantages would be the time it takes to make sure the guideline are being met. Creating rough drafts, doing research, and etc. Some people may only be familiar with certain types of writing styles and not open to creating things a different way. Being that’s what they’re used to.
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The reason most schools and businesses require some form of standard formate is to be precise and clear for the reader. When filing government documents, they are formatted in certain ways for filing and researching all the important information. When using these formats, the writer needs to be aware of everything on the page. This includes font style, font size, margins, letter head and references. The reference page was designed to make it as easy as possible for the person reviewing the paper to find all the sources without issues and for fact checking. With these different formats it provides the students practice for entering into the career world. It also builds professionalism and credibility when they are able to properly site the references used.
The disadvantage of using these different formats is that they follow very strict guild lines. If you were to turn in a paper for college missing one or several thing; you can be docked points off your grade. There are also many things that can be missed and are very specific that if the right person was looking at it could find them in a matter of minutes. It's also discouraging for inexperienced student who haven't used it before to use because they feel like they're going to make a mistake throughout the entire paper. I definitely feel this way when writing any important documents for school or work.
The reason most schools and businesses require the same style for written reports is for, precision, accuracy, and making the reports clear for the person reading.
What is a writing style?This is the style that has been adopted by a given organization or faculty in how to present their scholarly works and other forms of literature.
The different types are
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ACTIVITY 3 TOTAL:86 3.1 Distinguish between BEE and BBBEE.
Answers
The ( BEE ) means black economic empowerment. in this the policies is while BEE sought to write the wrongs of the past,where the (BBBEE) board - based black economic empowerment. in BBBEE the aims at distributing the wealth of the nation across all acres races and gender
Explanation:
What is the difference between BEE and B-BBEE? BEE refers to the government's policy, B-BBEE is the implementation of the policy. Both refer to the same strategic framework that seeks to right the wrongs of the past and to distribute the wealth of nation across all races and genders
Company A is considering whether or not to expand into another segment. It currently has an ROA (return on assets) measure of 5%. The proposed expansion involves spending $1m on new assets and will increase annual profits (after taxes) by $1,000. The expansion will:
Answers
As a result of the expansion described, the effect will Decrease Company A’s overall ROA.
Effect on Company A ROAThe ROA is found by the formula:
= Net profit / Total assets
If the new project goes through, it will increase assets by $1 million while only increasing net profits by $1,000.
This means that the denominator of total assets will increase much more than the numerator of Net profit. This will lead to a lower ROA in general because a larger denominator leads to a smaller product when the numerator is divided.
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How was the statis decisis doctrine used in case with digital enterprises
Answers
Answer:
that is the answer
look at it
Explanation:
please follow
What role will sustainability methods and techniques in the area of Manufacturing for companies in the future?
Answers
Answer:
Sustainable manufacturing aims to produce goods with minimum use of energy and natural resources, maximum profit, while ensuring societal health and safety throughout the product life cycle.
Explanation: