broadway hotel inc a clendar year corporation purchased land on which to build a small resort in los gatos. the land was purchased on 12-1-10 for 255000. (which included the price of a small shed of the property, 33500, which was torn down in December at a cost of 5000. the company began to build the resort on 12-1-10 paying 852000 to a contractor. further payments to the contractor were on 7-1-11 for 650000 and on 9-1-11 for 710000. on 12-1-11 the resort was ready to be rented out, but the company merely began to advertise the resort and found only a few paying customers to rent it to in 2011. during 2010, the Company had borrowed 3800000 at 8% on 1-1-10 (maturing 2022) specifically for this building project. the company also had a long term bond for 2000000 (liability) on its books from 2006, and due in 2017, which it was paying 9% interest but no other long term liabilities. what is the book value of the land? what is the book value of the building on 12-1-11?
In: Accounting
Four firms in an industry are considering forming a cartel. They meet in a smoke-filled hotel room to discuss the terms of the cartel and to weigh their options. Each firm has marginal cost given by MC=20+2q. Demand for the market is given by Q=400-2p.
1. What is the supply for each firm? For all four firms?
2. Suppose the firms compete. What would be the resulting market prices and quantities under competition? How much would each firm produce and what would be their producer surplus?
3. Now suppose that the firms successfully form a cartel. They agree to divide the cartel quantity equally among the four firms. How much will each firm produce under the cartel? What will be the producer surplus of each firm?
4. One of the firms is considering cheating on the cartel agreement. Discuss how the firm could cheat on the cartel agreement and what benefits the firm gets from cheating. [Hint: show with equations or a graph how the firm’s profits would change, assuming that the other three firms stick to the cartel agreement.
In: Economics
A recreation center would have the estimated value
• $1,000,000 if it has no public swimming pool
• $1,800,000 if it has a public swimming pool with 2 lanes
• $2,200,000 if it has a public swimming pool with 3 lanes
• $2,400,000 if it has a public swimming pool with 4 lanes
The pool costs $400,000 with 2 lanes. Each additional lane would cost $300,000. The city Park & Recreation Board is a bureaucracy that overview the center construction. The Board are the slack maximizer. Use this to answer the following 2 questions.
Answer for each questions are c and b, respectively, Please provide detail explanation ( not in handwriting form which I may not recognize it)
12. According to the Niskanen’s model of slack maximization, the Board will propose
a. to build the center with no swimming pool
b. the swimming pool with 2 lanes
c. the swimming pool with 3 lanes
d. the swimming pool with 4 lanes
13. According to the Niskanen’s model of slack maximization, the Board will request what budget for the pool?
a. $1,000,000 b. $1,200,000 c. $1,800,000 d. $2,200,000
In: Economics
Indicate if the variable is discrete or continuous.
a) Total full-time employees
b) Agency name
c) The movie rating system (viz., G, PG, PG-13, etc.)
d) Health rating (0-100) for a restaurant
e) Hurricane level (1-5)
f) Ground wind speed of a hurricane
g) A final exam score for a class
h) Land use classification (such as residential, commercial, mixed use)
i) Drug treatment center name
j) Building permits filed by year
k) Property tax rate (millage)
l) Amount of lead in drinking water
m) Level of government (local, state, federal)
n) Number of visitors to a state park
o) Degree of a felony charge (1st, 2nd, 3rd)
p) Form of municipal government (commission, mayor-council, council-manager)
q) Management level (front, middle, senior)
r) Highest degree of education
s) Average training cost per employee
t) A state government’s bond rating
u) The inflation rate
v) Federal disaster area designation
In: Math
Part I and Part II are independent. Please answer both parts.
Part I: During a year of operation, a firm collects $450,000 in revenue and spends $100,000 on labor expense, raw materials, rent and utilities. The firm’s owner has provided $750,000 of her own money instead of investing the money and earning a 10 percent annual rate of return.
1A. The accounting costs of the firm are
1B. The opportunity cost is
1C. Total economic costs are
1D. Accounting profits are
1E. Economic profits are
The answers I have for these are:
1A. The accounting costs of the firm are $100,000
The accounting costs of the firm, or the explicit costs were
expressed in the question as $100,000.
1B. The opportunity cost is $75,000
The opportunity cost, or implicit cost is calculated as the owner’s
own money*the rate of return (both expressed in the question).
$750,000*.10=$75,000
1C. Total economic costs are $175,000
The total economic cost is calculated as the implicit cost (1B)
+ the explicit cost (1A).
$75,000+$100,000=$175,000
1D. Accounting profits are $350,000
Accounting profits are calculated as the revenue
(from the question)-explicit cost (1A).
$450,000-$100,000=$350,000
1E. Economic profits are $275,000
Economic profits are calculated as revenue
(from the question)-economic cost (1C).
$450,000-$175,000=$275,000
Part II: Higher personal taxes in the U.S. will affect personal disposable income which in turn will affect the domestic demand for goods and services. Costs of production and inputs however continue declining. What do you expect the U.S. output and prices in the near future. Assume we are moving from the old equilibrium to a new equilibrium. Please state clearly your assumptions and include a graph to support your answer.
In: Economics
Please Answer 1-3 for me
1. Solve the system of linear equations using the Gauss-Jordan elimination method.
| 2x1 | − | x2 | + | 3x3 | = | −16 |
| x1 | − | 2x2 | + | x3 | = | −5 |
| x1 | − | 5x2 | + | 2x3 | = | −11 |
(x1, x2, x3) = ( )
2. Formulate a system of equations for the situation below and
solve.
For the opening night at the Opera House, a total of 1000 tickets
were sold. Front orchestra seats cost $90 apiece, rear orchestra
seats cost $70 apiece, and front balcony seats cost $50 apiece. The
combined number of tickets sold for the front orchestra and rear
orchestra exceeded twice the number of front balcony tickets sold
by 400. The total receipts for the performance were $70,800.
Determine how many tickets of each type were sold.
| front orchestra | |
| rear orchestra | |
| front balcony |
3.
Formulate a system of equations for the situation below and
solve.
Joan and Rick spent 3 weeks (21 nights) touring four cities on the
East Coast—Boston, New York, Philadelphia, and Washington. They
paid $220, $440, $180, and $200 per day for lodging in each city,
respectively, and their total hotel bill came to $6,360. The number
of days they spent in New York was the same as the total number of
days they spent in Boston and Washington, and the couple spent 3
times as many days in New York as they did in Philadelphia. How
many days did Joan and Rick stay in each city?
| Boston | days |
| New York | days |
| Philadelphia | days |
| Washington | days |
In: Advanced Math
Hyundai Automobile U.S.A. is sponsoring a charity golf tournament to raise monies for a children's hospital in Birmingham. Hyundai budgets $5,400 in costs for administration and marketing for the event. The band will cost a fixed amount of $2,100. Tickets to this local community event will be $350 per person. All proceeds from the event will be donated to the children's hospital. There are two possible venues:
RTJ Golf Resort at Prattville, which has a fixed rental cost of $10,220. The hotel provides for meals and waiters and waitresses to serve drinks and finger foods at $65 per person. The green fees and cart for each person will be $40.
Wynlakes Golf & Country Club, which has a fixed rental cost of $2,300 plus a charge of $110 per person for its own catering of meals and serving of drinks and finger foods. The green fees and cart for each person will be $50.
(a) Compute the break-even point for each venue in terms of tickets sold.
The break-even point for tickets sold from RTJ Golf Resort at Prattville is:
A.
68
B.
70
C.
85
D.
73
The break-even point for tickets sold from Wynlakes Golf & Country Club is:
A.
52
B.
45
C.
61
D.
50
(b) At what level of tickets sold will the two venues have the same operating income?
The two venues will have the same operating income with ticket sales at:
A.
146
B.
134
C.
123
D.
144
In: Economics
The catering manager of LaVista Hotel, Lisa Ferguson, is disturbed by the amount of silverware she is losing every week. Last Friday night, when her crew tried to set up for a banquet for 500 people, they did not have enough knives. She decides she needs to order some moresilverware, but wants to take advantage of any quantity discounts her vendor will offer.
follows≻For
a small order
(2 comma 0002,000
pieces or less) her vendor quotes a price of
$1.801.80/piece.
follows≻If
she orders
2 comma 0012,001
to
5 comma 0005,000
pieces, the price drops to
$1.601.60/piece.
follows≻5 comma 0015,001
to
10 comma 00010,000
pieces brings the price to
$1.401.40/piece,
and
follows≻10 comma 00110,001
and above reduces the price to
$1.251.25/piece.
Lisa's order costs are
$200200
per order, her annual holding costs are
55%,
and the annual demand is
44 comma 90044,900
pieces. For the best option (the best option is the price level that results in an EOQ within the acceptable range):
a. what is the optimum ordering quantity? (round to the nearest whole number)
b.what is the annual holding cost? (round to two decimal places)
c. what is the annual ordering cost? ( round to two decimal places)
d. what are the annual costs of the silverware itself with an optimal order quantity? (round to the nearest whole number)
e. what is the total annual cost, including ordering, holding, and purchasing the silverware? (round to two decimal places)
In: Operations Management
Given the following information:
|
Prior Year (Budget and Actual) |
Current Year (Budget and Actual) |
|
|
Beginning Inventory (Units) |
0 |
? |
|
Sales (Units) |
600,000 |
575,000 |
|
Manufactured (Units) |
600,000 |
640,000 |
|
Selling Price ($/unit) |
9.90 |
10.00 |
|
Variable Manufacturing Cost ($/unit) |
4.80 |
5.00 |
|
Total Fixed Manufacturing Costs ($) |
1,560,000 |
1,600,000 |
|
Variable Selling Cost ($/unit) |
1.00 |
1.00 |
|
Total Fixed SG&A Costs ($) |
351,000 |
358,000 |
Other information:
Required:
In: Accounting
Given the following information:
|
Prior Year (Budget and Actual) |
Current Year (Budget and Actual) |
|
|
Beginning Inventory (Units) |
0 |
? |
|
Sales (Units) |
600,000 |
575,000 |
|
Manufactured (Units) |
600,000 |
640,000 |
|
Selling Price ($/unit) |
9.90 |
10.00 |
|
Variable Manufacturing Cost ($/unit) |
4.80 |
5.00 |
|
Total Fixed Manufacturing Costs ($) |
1,560,000 |
1,600,000 |
|
Variable Selling Cost ($/unit) |
1.00 |
1.00 |
|
Total Fixed SG&A Costs ($) |
351,000 |
358,000 |
Other information:
Required:
In: Accounting