For a monopoly, profit per unit of output is?
A-marginal revenue minus marginal cost
B-price minus average total cost
C-average total cost minus marginal revenue
D-price minus marginal revenue
E-total revenue minus total cost
In: Economics
High-Low and Cost Formula
Harrison Company has accumulated the following total manufacturing overhead costs for two levels of activity (within the relevant range):
| Low | High | |
|---|---|---|
| Activity (direct labor hours) | 90,000 | 130,000 |
| Total manufacturing overhead | $484,000 | $628,000 |
The total overhead cost includes variable, fixed, and mixed costs. At 130,000 direct labor hours, the total cost breakdown is as follows:
| Variable cost | $286,000 |
| Fixed cost | 85,000 |
| Semi-mixed cost | $257,000 |
a. Using the high-low method of cost analysis, determine the variable portion of the semi-variable cost per direct labor hour. Determine the total fixed cost component of the mixed cost.
Isolate mixed costs:
Do not use negative signs with your answers.
| Low | High | |
|---|---|---|
| Total cost | Answer | Answer |
| Less: Variable cost | Answer | Answer |
| Fixed cost | Answer | Answer |
| Total mixed cost | Answer | Answer |
High-Low Analysis:
Round variable portion per unit to two decimal places, if
applicable.
| Direct Labor Hours | Total Mixed Cost | - | Variable Portion | = | Fixed Portion | ||
|---|---|---|---|---|---|---|---|
| High | Answer | Answer |
- |
Answer |
= |
Answer | |
| Low | Answer | Answer | Answer | Answer | |||
| Difference | Answer | Answer |
Variable portion per unit: $Answer
b. What should the total planned overhead cost be at 115,000 direct labor hours?
| Variable Cost Per Unit | Fixed Costs | |
|---|---|---|
| Variable cost | Answer | |
| Fixed cost | Answer | |
| Mixed: | ||
| Variable portion | Answer | |
| Fixed portion | Answer | |
| Totals: | Answer | Answer |
Total planned overhead for 115,000 direct labor hours $Answer
In: Accounting
High-Low and Cost Formula
Adams Company has accumulated the following total manufacturing overhead costs for two levels of activity (within the relevant range):
| Low | High | |
|---|---|---|
| Activity (direct labor hours) | 30,000 | 50,000 |
| Total manufacturing overhead | $270,000 | $362,000 |
The total overhead cost includes variable, fixed, and mixed costs. At 50,000 direct labor hours, the total cost breakdown is as follows:
| Variable cost | $200,000 |
| Fixed cost | 90,000 |
| Semi-mixed cost | $72,000 |
a. Using the high-low method of cost analysis, determine the variable portion of the semi-variable cost per direct labor hour. Determine the total fixed cost component of the mixed cost.
Isolate mixed costs:
| Low | High | |
|---|---|---|
| Total cost | $Answer | $Answer |
| Less: Variable cost | Answer | Answer |
| Fixed cost | Answer | Answer |
| Total mixed cost | $Answer | $Answer |
High-Low Analysis:
Round variable portion per unit to two decimal places, if
applicable.
| Direct Labor Hours | Total Mixed Cost | - | Variable Portion | = | Fixed Portion | ||
|---|---|---|---|---|---|---|---|
| High | Answer | $Answer |
- |
$Answer |
= |
$Answer | |
| Low | Answer | Answer | Answer | Answer | |||
| Difference | Answer | $Answer |
Variable portion per unit $Answer
b. What should the total planned overhead cost be at 40,000 direct labor hours?
| Variable Cost Per Unit | Fixed Costs | |
|---|---|---|
| Variable cost | $Answer | |
| Fixed cost | $Answer | |
| Mixed: | ||
| Variable portion | Answer | |
| Fixed portion | Answer | |
| Totals: | $Answer | $Answer |
Total planned overhead for 40,000 direct labor hours $Answer
In: Accounting
A company produces at an output level where marginal cost is
equal to marginal revenue and has the following revenue and cost
levels:
Total revenue = $1,450
Total cost = $1,500
Total variable cost = $1,300
What would you suggest?
| shut down |
| continue to produce because the loss is less than the total fixed cost |
| increase production to lower the marginal cost |
| reduce output to lower the marginal cost |
| raise the price |
In: Economics
|
(1) |
(2) |
(3) |
(4) |
(5) |
(6) |
(7) |
(8) |
|
0 |
$200 |
$0 |
|||||
|
1 |
200 |
30 |
|||||
|
2 |
200 |
50 |
|||||
|
3 |
200 |
60 |
|||||
|
4 |
200 |
65 |
|||||
|
5 |
200 |
75 |
|||||
|
6 |
200 |
95 |
|||||
|
7 |
200 |
125 |
|||||
|
8 |
200 |
165 |
|||||
|
9 |
200 |
215 |
|||||
|
10 |
200 |
275 |
2. If Price = $20, quantity = 400 units, unit cost = $15, implicit costs = $4,000.
What does economic profit equal?
In: Economics
Given the following table of grades:
|
Grades |
A |
B |
C |
D |
F |
Totals |
|
Males |
17 |
8 |
14 |
11 |
3 |
53 |
|
Females |
12 |
11 |
13 |
6 |
5 |
47 |
|
Totals |
29 |
19 |
27 |
17 |
8 |
100 |
a. What is the probability that a randomly selected student got an A or B?
b. What is the probability that if a student was female that they got a passing grade?
c. What is the probability of a female student given that they got a “B”?
4. The Edward’s Theater chain has studied its movie customers to determine how much money they spend on concessions. The study revealed that the spending distribution is approximately normally distributed with a mean of $4.11 and a standard deviation of $1.37. What percentage of customers will spend less than $3.00 on concessions? Use the Z-tables in the textbook.
In: Statistics and Probability
1. What are the hopes for economic integration in the Americas among those who advocate free trade agreements?
2. Do you think that such hopes can come to fruition in the near future? Why?
In: Economics
In: Chemistry
Q: zero intrest rate may result volatility in currency markets, what may happen to the US dollar vs other currencies in the near future, explain your answers with details necessary
In: Finance
The closest distance a book can be read from a pair of reading eyeglasses (Power = 2.06 dp) is 27.5 cm. What is the near distance? (Assume a distance between the eyeglasses and the eyes to be 3.00 cm)
In: Physics