Given the following:

a. Calculate the cost of ending inventory using the FIFO (ending inventory shows 52 units).

b. Calculate the cost of goods sold using the FIFO (ending inventory shows 52 units).

Given the following:

a. Calculate the cost of ending inventory using the weighted-average method (ending inventory shows 61 units). (Round the "average unit cost" and final answer to the nearest cent.)

b. Calculate the cost of goods sold using the weighted-average method. (Round your intermediate calculations and final answer to the nearest cent.)

Five identical vehicles which cost $500,000 (total) are acquired on April 1, 2018. Their estimated residual value is $20,000 and expected life is eight years. These assets are Class 10 with a maximum CCA rate of 30%. The company has a December 31 year end. Required Calculate the depreciation expense/CCA (to the nearest dollar) by each of the following methods:

1. Straight-line for 2018

2. Double declining-balance for 2019

3. Maximum Capital cost allowance for 2019

Update: Total cost is provided see below. We have to calculate Marginal Revenue numbers and others.

Please advise,

The chart below shows the demand curve for dog food at Charlie’s dog food factory and the total cost of producing various quantities:

Fill in the rest of the chart.

b. How much dog food should Charlie sell, and what price should he charge? Answer first using Method I and then using Method II.

c. If Charlie is required to pay a $5 annual license fee to operate his dog food factory, what happens to his total cost numbers? What happens to his marginal cost numbers? What happens to the amount of dog food he sells and the price he charges?

d. If Charlie is required to pay an excise tax of $6 per pound of dog food, what happens to his total cost numbers? What happens to his marginal cost numbers? What happens to the amount of dog food he sells and the price he charges?

Nova Company’s total overhead cost at various levels of activity are presented below: Month Machine- Hours Total Overhead Cost April 49,000 $ 212,110 May 39,000 $ 186,210 June 59,000 $ 238,010 July 69,000 $ 263,910 Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 39,000 machine-hour level of activity is: Utilities (variable) $ 58,500 Supervisory salaries (fixed) 70,000 Maintenance (mixed) 57,710 Total overhead cost $ 186,210 Nova Company’s management wants to break down the maintenance cost into its variable and fixed cost elements. Required: 1. Estimate how much of the $263,910 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $263,910 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.) 2. Using the high-low method, estimate a cost formula for maintenance in the form Y = a + bX. 3. Express the company’s total overhead cost in the form Y = a + bX. 4. What total overhead cost would you expect to be incurred at an activity level of 44,000 machine-hours?

Question 5.

2.

4.

What total overhead cost would you expect to be incurred at an activity level of 48,000 machine-hours?

1) In November 2017, a cost accountant estimates next year’s total manufacturing overhead at $790,000. She is experimenting with 3 possible bases or denominators to calculate the overhead rate. The three possible overhead bases for 2018 are: 27,000 direct labor hours, $505,000 direct labor dollars, and 3,800 machine hours.

At the end of the year, the actual amounts were: $810,000 overhead, 28,000 direct labor hours, $515,000 direct labor cost, and 4,000 machine hours.                                                                                                                                          Required: a) calculate the three overhead rates.                                                                                                   b) By using the three different overhead rates, calculate overhead applied by each rate. c) For each overhead rate, calculate the over or under applied overhead at year end.

Nova Company’s total overhead cost at various levels of activity are presented below:

Assume that the total overhead cost above consists of utilities, supervisory salaries, and maintenance. The breakdown of these costs at the 38,000 machine-hour level of activity is:

Nova Company’s management wants to break down the maintenance cost into its variable and fixed cost elements.

Required:

1. Estimate how much of the $250,000 of overhead cost in July was maintenance cost. (Hint: to do this, it may be helpful to first determine how much of the $250,000 consisted of utilities and supervisory salaries. Think about the behavior of variable and fixed costs.)

2. Using the high-low method, estimate a cost formula for maintenance in the form Y = a + bX.

3. Express the company’s total overhead cost in the form Y = a + bX.

4. What total overhead cost would you expect to be incurred at an activity level of 43,000 machine-hours?

A monopolist has a total cost given by 9Q^2+18Q+21 and faces a demand curve given by -4Q+120.

What is the profit-maximizing quantity the monopolist supplies the market? (Answer is 51/13, how did they get this?)

What is the profit-maximizing price the monopolist sets in this market? ((Answer is 1356/13, how did they get this?)

Suppose instead of a monopoly, the market is served by a bunch of perfectly competitive firms each with the same cost structure as the monopolist

What is the profit-maximizing quantity these firms supply the market? (Answer is 84, how did they get this?)

What is the profit-maximizing price in this market? (Answer is 9, how did they get this?)

What is the dead weight loss from having a monopoly versus a perfectly competitive market? (Answer is 3816, how did they get this)