1. George sells pepperoni pizzas at $25 per pizza from a stall on the beach.   George’s pays $30 per hour to rent his stall and pays his worker $10 per hour to make and sell the pizzas. The ingredients cost $15 per pizza. These are George’s only costs.

NOTE: The hourly cost function (and table) are costs per hour. Note, however, that the total costs in any given hour depend on the number of pizzas sold that hour. The function and table should therefore only be a function of one variable, Q, the number of pizzas. But it should, of course, take into account any other hourly fixed costs.

1. (3 points) What is George’s (hourly) total cost function?

2. Fill in the following information in the table below:
   1. (3 points) Total (hourly) costs
   2. (3 points) Marginal costs
   3. (3 points) Total (hourly) revenue
   4. (3 points) Marginal revenue

Santa's Christmas Tree Farm, a private company reporting under ASPE, grows pine, fir, and spruce trees. The company cuts and sells the trees for cash during the Christmas season. Most of the trees are exported to the United States. The remaining trees are sold to local tree lot operators.

It normally takes about 12 years for a tree to grow to a good size. The average selling price for a mature tree is $48. The owner of Santa's Christmas Tree Farm believes that the company should recognize revenue at the rate of $4 a year ($48/12 years) for each tree that it cuts. The biggest cost of this business is the cost of fertilizing, pruning, and maintaining the trees over the 12-year period. These costs average $40 a tree and the owner believes they should also be spread over the 12-year period.

Do you agree with the proposed revenue recognition policy for Santa's Christmas Tree Farm? Explain why or why not. Use the revenue recognition criteria to explain your argument for when the revenue should be recognized for this tree-farming business. Also, explain how the costs of fertilizing, pruning, and maintaining the trees should be recorded.

Q73. the price is 3, the quantity demanded is 8. When the price is 6, the quantity demanded is 4. What is the price elasticity of When demand?      -------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Q74. A perfectly inelastic demand curve will be ---------------- on a graph while a perfectly elastic demand curve will be ------------------on a graph.        a. vertical; horizontal             b. horizontal; vertical           c. vertical; vertical                       d. horizontal; horizontal

Q75. When demand is price-inelastic, a price decrease will result in:

a. an increase in total cost.   b. an increase in total revenue.       c. a decrease in total cost.      d. a decrease in total revenue.

Q76. The practice of charging different prices to different buyers is called:

a. total revenue.             b. price discrimination.                 c. price elasticity.                 d. an increase in demand.

Q77. A percentage change in quantity supplied divided by a percentage change in price is called:

a. income elasticity.              b. price elasticity of demand.            c. price elasticity of supply.        d. elasticity of substitution.

Q78. When governments restrict agricultural production, the supply curve to shifts to the ----------, the equilibrium price ---------------, and the result is --------------------------------- revenue for farmers.

a. right; decreases; higher         b. left; decreases; higher             c. left; increases; lower               d. left; increases; higher

Memo 4 To: Pricing Manager, Tri State Region From: Regional Vice President, Tri-State Region Re: Revenue from EPIX As you are aware, we recently added the EPIX Movie Channels as part of a new tier of programming for our digital video subscribers. The EPIX channels are sold as an add-on package for $9.75 per month, but we would like to potentially increase our contribution margin from our subscriber base. Currently we have 15,059 subscribers, generating monthly revenue of $146,823. In an earlier study, our marketing department generated data on sales quantities at various price levels. In addition, we have included the licensing cost as well as regional expenses. Please provide a recommendation of the profit-maximizing price, and how much our profits will increase if we adjust price to the recommended level. Also, please note whether this will impact our revenue.  

show how all variables are calculated (price, profit, and revenue)

please state if the following is recorded in income statement or balance sheet

1. A large amount of _________ expenses will lead to a low amount of risk since they will _____ with revenues

a. variable; change

b. variable; not change

c. fixed; change

d. fixed; not change

2. Forecasting cash inflows is

a. important since there may be a time gap when a cash inflow from revenue occurs and when expenses must be paid.

b. important since there may be a time gap in when revenue is earned and when cash inflow from revenue occurs

c. not important since revenue forecasting is sufficient for financial forecasts

d. not important since short term cash can always be raised if there is a cash shortfall between cash inflows and cash outflows.

3. which of the following is not true about traditional finance and entrepreneurial finance?

a. they both still use the same techniques to calculate risk measures and returns

b. they both still focus on the areas of investments, financial markets, and financial management

c. they both still use the same techniques to record financial transactions

d. they both still use the same accounting statements

e. all of the above are true about traditional and entrepreneurial finance

1. What yearly cash flows are relevant for this investment decision? Do not forget the effect of taxes and the initial investment amount. Complete the table below using the detail summarized below:
   1. Investment :Initial Investment - $16M 2016, $2M 2017/Working Capital - 10% of Incremental Sales
   2. Operating Savings - $2M 2017, $3.5M 2018-2022
   3. Sales Revenue - $4M 20017, $10M 2018-2022
   4. Expenses - CGS – 75% of Revenue, SG&A - 5% of Revenue
   5. Salvage:Working Capital - recoverable at cost/Initial Investment - 10% or $1.8M before tax, $1.08M after taxes
   6. Depreciation – Straight Line over 6 years, no salvage, start in 2017

Modify the GreenvilleRevenue program so that it uses the Contestant class and performs the following tasks: The program prompts the user for the number of contestants in this year’s competition; the number must be between 0 and 30. The program continues to prompt the user until a valid value is entered. The expected revenue is calculated and displayed. The revenue is $25 per contestant. For example if there were 3 contestants, the expected revenue would be displayed as: Revenue expected this year is $75.00 The program prompts the user for names and talent codes for each contestant entered. Along with the prompt for a talent code, display a list of the valid categories. The categories should be displayed in the following format: The types of talent are: S Singing D Dancing M Musical instrument O Other After data entry is complete, the program displays the valid talent categories and then continuously prompts the user for talent codes and displays the names of all contestants in the category. Appropriate messages are displayed if the entered code is not a character or a valid code.

beginning of c# code:

using System;

using static System.Console;

using System.Globalization;

class GreenvilleRevenue

{

   static void Main()

   {

      // Your code here

   }

}

Trevorrow Corporation manufactures and sells a single product. The company uses units as the measure of activity in its budgets and performance reports. During June, the company budgeted for 5,600 units, but its actual level of activity was 5,560 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for June:

Data used in budgeting:

Actual results for June:

The overall revenue and spending variance (i.e., the variance for net operating income in the revenue and spending variance column on the flexible budget performance report) for June would be closest to:

Multiple Choice

A $6,442 F

B $6,442 U

C $7,002 F

D $7,002 U

PLEASE SHOW STEPS