Jake's Big N Sporting Goods sells sporting goods and clothes in Omaha, On September 18, Jake (the owner) purchased $50,000 of merchandise from Chicago Wholesale Distributors fob shipping point, credit terms 3/10,n/30. On September 19, Jake purchased $45,000 of sporting goods and clothes from the Cincinnati Sports Wholesalers fob destination, credit terms 2/10,n/30. Both vendors hired KC Trucking Company to deliver the goods. The trucks carrying these goods collided on the Missouri river bridge between Omaha and Council Bluffs. Both drivers were "fished" out of the river and were not hurt. However, all of the merchandise was destroyed. Both suppliers have sent Jake's Big N Sporting Goods invoices and are expecting payment. The date is September 25. Advise Jake on what he should do and how much he should pay. Show your work. Explain your answer.

Exercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2

[The following information applies to the questions displayed below.]

References

Section BreakExercise 14-8 Cost of goods manufactured and cost of goods sold computation LO P1, P2

4.

value:
3.12 points

Required information

Exercise 14-8 Part 1

A hypothetical economy produces two goods: Capital goods and Consumer good. Provide its resource limit, the economy is able to produce any of the following combinations of capital ad consumer goods.

1. Using the data above, graph the PPC
2. Comment on the nature of opportunity cost (i.e. Increasing, decreasing, or a constant opportunity cost?)
3. Depict the inefficient, unattainable and efficient points of production for this economy.
4. What is the opportunity cost of producing 500 units of capital goods?
5. Consider the economy’s production possibility capacity for the combinations of capital goods (K) and Consumer goods ( C) is given by: C=10-X³/4. Give this, draw the Production Possibility Frontier for this economy and identify if the economy is operating an increasing, decreasing or constant opportunity cost. Support your argument with proof

Total Demand for Private Goods vs Public Goods.

Consider the following individual demand functions:

Q₁ = 10 – P               Q₂ = 8 – P                  Q₃ = 7 - P

Rival & Excludable

1. Complete the following table assuming the product is rival and excludable:

WTP= willing to pay

Nonrival & Nonexcludable

2. If the above product becomes a public good, calculate the total demand for the product and complete the following table:

Are luxury good inferior goods? Why lower price luxury goods will not attract people? Can you use graph to explain?

Choice leads for developing new business are randomly assigned to 58 employees who make up the direct sales team. Half of the sales team is male, and half is female. An employee can receive at most one choice lead per day. On a particular day, five choice leads are assigned.

a. Are the events [first lead is to a female] and [second lead is to a female ] dependent or independent?

b. If the first four leads all go to women, what is the probability that the fifth lead also goes to a woman?

c. What is the probability that all five leads go to women if you know that at least four of the leads go to women?

1. Predict which element would have the largest difference between the first and second ionization energies

a) Sodium b) Phosphorus c) silicon d) magnesium

2. Arrange the elements Li, Ne, Ar, and Na in increasing order of the energy required to remove the first electron from their respective atoms

a) Na < Li < Ar < Ne b) Na < Li < Ne < Ar c) Li < Na < Ar < Ne d) Ar < Ne < Na < Li

3. Which pair of elements has the most similar chemical properties?

a) C and F b) Li and Be c) P and As d) As and Se