A dairy farm faces a perfectly competitive market. It sells milk at $6 per liter. Complete the table below to answer the following questions.

a) Find the quantity of output that maximizes the profit for the firm. Also calculate the profit at that level.

b) Find out the break-even quantity for the firm.

c) Find out the shutdown point for the firm.

Notice that the table is partial and doesn't start at 0, and also that it doesn't go in increments of one at a time (so marginal values are approximations rather than exact).

The firm sells its output for P = $6.50. See below:

What will the firm's profits or losses be at the profit-maximizing (loss-minimizing) quantity? Carefully follow all numeric instructions. Indicate profits with a positive number (no sign) and losses with a negative number (with negative sign).

The Pole Division produces poles which can be sold to outside customers or transferred to the Flag Division. The following data are available for last year's activities in the Pole Division:

Capacity in units                     400,000 poles

Outside demand                      380,000 poles

Demand by Flag Division         25,000 poles

Selling price                               $5.00

Variable cost                              $2.75

Total fixed costs                     $200,000
  

On a transfer to the Flag Division, the Pole Division can save $0.65 of the variable costs per unit transferred.  HINT: Figure out the opportuning cost for the 5,000 units and average over the total units transferred.

FIFO and LIFO Costs Under Perpetual Inventory System

The following units of an item were available for sale during the year:

The firm uses the perpetual inventory system, and there are 20 units of the item on hand at the end of the year.

a. What is the total cost of the ending inventory according to FIFO?
$

b. What is the total cost of the ending inventory according to LIFO?
$

I need the step by step solutions

During the gasoline crunch in the mid and late seventies, the price of gas was kept below the market-clearing price. Often this policy resulted in long lines. Assume two possible states of the world:

1) Gas costs $1.00 a gallon with no waiting

2) Gas costs $0.60 a gallon, but requires half an hour wait

Howard Outoluck is unemployed and figures his time is worth nothing. He also has a 20-gallon tank What is the total cost for Howard to fill his gas tank in the two scenarios given above? Which scenario would Howard prefer? *Be sure to consider the total opportunity cost in this example.

big band corporation produces a semiconductor chip used on communications. the direct materials are added at hte start of the production process while conversion costs are added uniformly throughout the production process. big band had no inventory at the start of june. during the month it incurred direct material cost of $935,750 and conversion costs of $4,554,000. big band started 475,000 chips and completed 425,000 of them in june. ending inventory was 50% complete as to conversion costs.

Compute​ (a) the equivalent units of work done in​ June, and​ (b) the total manufacturing cost per chip. Allocate the total costs between the completed chips and those in ending inventory.

Mosaic Company applies overhead using machine hours and reports the following information.

QS 23-18A Total variable overhead cost variance LO P5

Compute the total variable overhead cost variance and classify it as favorable, unfavorable or no variance.

Compute the variable overhead spending variance and the variable overhead efficiency variance and classify each as favorable, unfavorable or no variance.

Kyota Distribution markets CDs of the performing artists. Following information is available for the company.

Requirement: Ending inventory of the company is 12,500 units. Find the Costs of goods sold for the company through FIFO, LIFO and Average method.