Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March.

Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Elliott Company produces large quantities of a standardized product. The following information is available for its production activities for March.

Prepare a process cost summary report for this company, showing costs charged to production, unit cost information, equivalent units of production, cost per EUP, and its cost assignment and reconciliation. Use the weighted-average method. (Round "Cost per EUP" to 2 decimal places.)

Marvel Cleaning Service, Inc. is a firm that specializes in cleaning business offices, and Marvel enjoys a monopoly position because it is the only firm allowed to provide cleaning service at the TechCenter industrial office park - the monopoly is believed to enhance security. There are 25 equal-sized offices in TechCenter, each one leased to a different company. TechCenter is closed 45 days a year (Sundays plus official federal holidays), which limits the demand for Marvel's cleaning services to a maximum of 320 cleanings per year for each one of the 25 companies leasing offices. Marvel believes it faces an identical demand by each one of the 25 businesses in TechCenter. This demand function is given as P = 80 -0.25Q. Marvel's costs are constant and equal to $30 per office cleaning. The owner of Marvel Cleaning Service is considering uniform pricing

4.1. If Marvel practices uniform pricing, it will charge ________ for an office cleaning and will face a quantity demanded from each of the 25 identical firms of __________ cleanings per year.

4.2. At TechCenter, Marvel's total profit per year is __________ (i.e., the sum of the profits from the 25 businesses in TechCenter). Each one of the businesses enjoys ____________ of consumer surplus under uniform pricing.

4.3. If Marvel Cleaning is able to practice perfect price discrimination, what is the firm’ total profit?

a) The City of Chicago sold bonds in the amount of $5,000,000 to finance the construction of a sports center. The bonds are serial bonds and were sold at par on July1, 2002 the first day of a fiscal year. Shortly thereafter a construction contract in the amount of $4,500,000 was assigned and the contractor commenced work. By year-end, the contractor had been paid in full for all billings to date amounting to $2,000,000. Required: Prepare in general journal form all entries that should have been made during the fiscal year ended June 30, 2003 to record the above information in the capital projects fund(including closing entries) b) Compute the legal debt margin for the City of Huston given the following information regarding its bonded debt 1) The legal debt limit is 10 percent of total assessed valuation 2) Bonds outstanding and bonds authorized are: Face Amounts Description Authorized Outstanding General obligation street construction 12,000,000 12,000,000 Special assessment sidewalk construction 2,000,000 2,000,000 General obligation park acquisition 2,000,000 0 Water Utility Fund revenue 5,000,000 5,000,000 Industrial development revenue 6,000,000 6,000,000 Note: The City has no liability for the revenue bonds or the industrial development bonds. 3) Total assessed valuation of property within the City of Huston is $200,000,000.

Note- after is says answer, those are the answer choices

Scenario:

Tracy Clark just recently completed her first year of full time work. She has no children, is not married, and is enrolled full time in college. Now she needs to complete the W-2 form. She has worked for a full year at the Happy Hotel. She earned a total of $22,000 this year. She knows from looking at her paycheck stubs that she had a total of $432 of federal income withheld. She also noted that she had $500 of social security tax as well as $332 of medicare tax withheld from her paycheck. With this knowledge help Tracy complete her W-2 form.

Directions:

Please complete the W2 form by answering the questions that follow.

1. Wages, tips and and other compensation: Answer 22,000 500 432 none
2. Federal Income Witheld: Answer 432 22,000 500 none 332
3. Social Security Wages: Answer 22,000 432 500 none 332
4. Social Security Tax Witheld: Answer 50043222,000 none 332
5. Medicare Wages and Tips: Answer 22,000 500432none332
6. Medicare Tax Witheld Answer 332 none50022,000432
7. Social Security Tips: Answer none 33243222,000500
8. Allocated Tips: Answer none 33243250020,000

The following partially completed process cost summary describes the July production activities of the Molding department at Ashad Company. Its production output is sent to the next department. All direct materials are added to products when processing begins. Beginning work in process inventory is 20% complete with respect to conversion.

Prepare its process cost summary using the FIFO method. (Round "Cost per EUP" to 2 decimal places.)

Jane's Juice Bar has the following cost schedules:

In the following table, complete the marginal cost, average variable cost, and average total cost columns.

On the following graph, use the orange points (square symbol) to plot the marginal-cost curve for Jane's Juice Bar. (Note: Be sure to plot from left to right and to plot between integers. For example, if the marginal cost of increasing production from 1 vat of juice to 2 vats of juice is $5, then you would plot a point at (1.5, 5).) Then use the purple points (diamond symbol) to plot the average-variable cost curve starting at 1 vat of juice, and use the green points (triangle symbol) to plot the average-total-cost curve also starting at 1 vat of juice.

Marginal CostAverage Variable CostAverage Total Cost01234564035302520151050CostsQuantity (Vats of juice)6, 25

Which of the following statements are true according to the previous graph? Check all that apply.

The marginal-cost curve is below the average-total-cost curve when output is less than four and average total cost is declining.

The marginal-cost curve is below the average-total-cost curve when output is greater than four and average total cost is rising.

The marginal-cost curve lies above the average-variable-cost curve.

If marginal cost exceeds marginal revenue, the firm

A)should reduce its average fixed cost in order to lower its marginal cost.

B)may still be earning a positive accounting profit

C)should increase the level of production to maximize its profit.

D)is most likely to be at a profit-maximizing level of output.

Who is a price taker in a competitive market?

A)both buyers and sellers

B)buyers only

C)sellers only

D)neither buyers nor sellers

For a competitive firm,

A)total cost equals marginal revenue.

B)average revenue equals marginal revenue.

C)total revenue equals average revenue.

D)total revenue equals marginal revenue

In the short-run, a firm's supply curve is equal to the

A)average total cost curve above its marginal cost curve.

B)marginal cost curve above its average total cost curve.

C)average variable cost curve above its marginal cost curve.

D)marginal cost curve above its average variable cost curve.

When marginal revenue equals marginal cost, the firm

A)Should increase the level of production to maximize its profit

B)must be generating positive economic profits

C)should cease producing

D)must be generating positive accounting profits.

Profit maximizing firms in competitive industries with free entry and exit face a price equal to the lowest possible

A)total cost of production.

B)fixed cost of production.

C)marginal cost of production.

D)average total cost of production.

At the profit-maximizing level of output,

A)marginal revenue equals average variable cost.

B)marginal revenue equals average total cost.

C)average revenue equals average total cost.

D)marginal revenue equals marginal cost.

If firms are competitive and profit maximizing, the price of a good equals the

A)fixed cost of production.

B)marginal cost of production.

C)average total cost of production.

D)total cost of production.