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.
| Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
|---|---|---|---|---|---|---|---|
| 0 | --- | --- | --- | --- | |||
| 1 | $45.00 | ||||||
| 2 | $64.00 | ||||||
| 3 | $85.00 | ||||||
| 4 | $20.00 | $400.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
In: Economics
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.
| Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
|---|---|---|---|---|---|---|---|
| 0 | --- | --- | --- | --- | |||
| 1 | $50.00 | ||||||
| 2 | $64.00 | ||||||
| 3 | $105.00 | ||||||
| 4 | $30.00 | $360.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
In: Economics
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.
| Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
|---|---|---|---|---|---|---|---|
| 0 | --- | --- | --- | --- | |||
| 1 | $45.00 |
| 2 | $72.00 |
| 3 | $95.00 |
| 4 | $20.00 |
| $360.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
In: Economics
1). Which of the following is an explicit cost in Jim’s business venture?
2). The cost that a firm pays in money to hire a resource is referred to as a________ cost.
3).
Frank owns a hotdog stand. His variable costs for producing different quantity of hotdogs is displayed above. What is the average cost if he produces 30 hotdogs?
4). The cost that does not change as output changes is
5).
Paulette owns a pizza parlor. Her total cost schedule is in the above table. Her average total cost for producing 5 pizza is
6). A cost incurred in the production of a good or service and for which firm does not make a monetary payment, is referred to as_________ cost.
7).
Paulette owns a pizza parlor. Her total cost’s schedule is in the above table. Her marginal cost of producing a fifth pizza is
8). An insurance agent rents a building and has a three-year lease. An increase in the rent for the building increases the agent’s
9). Chuck owns a factory that produces leather footballs. His total fixed cost equaled $86,000 last year. His total cost equaled $286,000 last year. Hence chuck’s
10). The primary goal of a firms is to
In: Economics
Careen owns a condominium near Newport Beach in California that she rents out part of the year. This year, she incurs the following expenses in connection with her rental condo:
|
Mortgage Interest |
$9,490 |
|
Property Taxes |
6,570 |
|
Insurance |
3,220 |
|
Repairs and maintenance |
1,610 |
|
Utilities |
3,703 |
|
Depreciation |
11,270 |
During the year, Careen rented the condo for 112 days, receiving
$17,600 of gross income. She personally used the condo for 49 days.
Assuming Careen uses the court method of allocating
expenses to rental use of the property.
In addition to expenses listed above, she paid the following
amounts:
|
home mortgage interest on her personal residence |
$7,100 |
|
property taxes on her personal residence |
5,200 |
|
state income taxes |
8,700 |
|
charitable contributions |
2,900 |
Determine how much depreciation she is allowed to deduct. Then determine her net rental income (loss), her total amount of “for AGI” deductions, and her total amount of itemized deductions (from AGI). Include and fill in the following table within your Excel worksheet:
|
Depreciation Deducted |
|
|
Net Rental Income (Loss) |
|
|
Total for AGI Deductions |
|
|
Total Itemized (from AGI) Deductions |
EXPLAIN!
In: Accounting
E3-13 (1 goal) determination of the cost of assets [5 to 10 min yesterday Furniture Co.He bought a piece of land and paid $95, effective 000en over a note payable of $270,000.In addition, yesterday paid a property tax arrears by $2,000, property insurance at a cost of $2,500, and $3,000 to level the playing field and demolish the unwanted building.The company then built a building of offices at a cost of $550,000.It also paid $52,000 for a fence around the property, $17,000 by a notice near the entrance and $4,000 for a special batch lighting.Required 1.Determinar the cost of the land, as well as the mejoramicntos of the land and the building, 2.Which of these assets yesterday you depreciate? (Learning 1 goal) Global purchase of active [(10 a 15 min) Maplewood Propertics bought three lots in a subdivision for an inclusive price.]An expert independent valued batches as follows: Maplewood paid $240,000 in cash.E9-14 Lake value of appraisal batch 1 = 90 000, lot 2 = 60 000, lot 3 = 100,000 register the purchase at the newspaper, identifying the cost of each lot in an account separate from land.Round decimals to three places and use their calculated percentages.
In: Accounting
1. Suppose the total cost equation of a firm is
TC(Q)=5,000+2,000Q?10Q2+0.25Q3
Where Q is the level of output.
What is the firm’s total fixed cost?
2. What is the equation for the firm’s total variable cost?
3. Calculate the firm's total cost for Q=10.
4. What is the equation for the firm's average total cost? Calculate average total cost for Q=10.
In: Economics
The Sandhill Hotel opened for business on May 1, 2022. Here is
its trial balance before adjustment on May 31.
| SANDHILL
HOTEL Trial Balance May 31, 2022 |
||||||
|---|---|---|---|---|---|---|
|
Debit |
Credit |
|||||
|
Cash |
$ 2,523 | |||||
|
Supplies |
2,600 | |||||
|
Prepaid Insurance |
1,800 | |||||
|
Land |
15,023 | |||||
|
Buildings |
72,400 | |||||
|
Equipment |
16,800 | |||||
|
Accounts Payable |
$ 4,723 | |||||
|
Unearned Rent Revenue |
3,300 | |||||
|
Mortgage Payable |
38,400 | |||||
|
Common Stock |
60,023 | |||||
|
Rent Revenue |
9,000 | |||||
|
Salaries and Wages Expense |
3,000 | |||||
|
Utilities Expense |
800 | |||||
|
Advertising Expense |
500 |
|||||
|
$115,446 |
$115,446 |
|||||
Other data:
| 1. | Insurance expires at the rate of $300 per month. | |
| 2. | A count of supplies shows $1,190 of unused supplies on May 31. | |
| 3. | (a) Annual depreciation is $3,240 on the building. | |
| (b) Annual depreciation is $2,640 on equipment. | ||
| 4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
| 5. | Unearned rent of $2,600 has been earned. | |
| 6. |
Salaries of $770 are accrued and unpaid at May 31. |
Prepare an adjusted trial balance on May 31.
|
SANDHILL HOTEL |
||
|---|---|---|
|
Debit |
Credit |
|
|
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|
In: Accounting
|
The Utah Mining Corporation is set to open a gold mine near Provo, Utah. According to the treasurer, Monty Goldstein, “This is a golden opportunity.” The mine will cost $905,000 to open and will have an economic life of 11 years. It will generate a cash inflow of $165,000 at the end of the first year, and the cash inflows are projected to grow at 3 percent per year for the next 10 years. After 11 years, the mine will be abandoned. Abandonment costs will be $120,000 at the end of year 11. (a) What is the IRR for the gold mine? (Round your answer to 2 decimal places. (e.g., 32.16)) (b) The Utah Mining Corporation requires a 15 percent return on such undertakings. Should the mine be opened? Yes or No? |
In: Finance
Zues Sporting Goods is a manufacturer of falconry equipment.
Zues is analyzing the purchase of a new piece of equipment. The
cost savings from the equipment would result in an annual increase
in cash flow of $205,000. The equipment will have an initial cost
of $950,000 and have a 6-year life. There is no salvage value for
the equipment. If the hurdle rate is 7%, what is the approximate
net present value? Ignore income taxes.
1. $950,000
2. $27,132
3. $977,132
4. $316,667
Robolo Aviation manufactures flight simulators to train new pilots. Robolo is debating the purchase of a new piece of equipment. The cost savings from the equipment would result in an annual increase in cash flow of $200,800. The equipment will have an initial cost of $901,200 and have a 6-year life. There is no salvage value for the equipment. If the hurdle rate is 10%, what is the internal rate of return? Ignore income taxes.
1. Between 6% and 8%
2. Between 8% and 10%
3. Between 10% and 12%
4. less than zero
Daniel's Theme Park is a family favorite destination. To keep up
with other theme parks, Daniel is thinking of investing in a new
piece of equipment. The cost savings from the equipment would
result in an annual increase in cash flow of $108,000. The
equipment will have an initial cost of $450,000 and have a 5-year
life. The salvage value of the equipment is estimated to be
$80,000. If the hurdle rate is 12%, what is the approximate net
present value? Ignore income taxes.
1. Positive $80,000
2. Positive $450,000
3. Zero
4. Negative $15,290
In: Accounting