Complete the following table filling in ALL the cells. When you have finished, graph the results on the blank graph provided. Review the completed graph and answer questions 1-4.

Worksheet - Cost and Industry Structure - Monopoly

Please fill in the empty spaces ion this schedule using the data provided for the quantities, prices and costs

.

Using the Schedule above and graph below answer the following questions:

1. What is the Profit maximizing Quantity? ( )

2. What is the Profit maximizing Price? ( )

3. How much are the fixed costs? ( )

4. How much profit will the firm earn at this profit maximizing point? ( )

Match each of the following items to each of the steps 1 through 5 in the revenue recognition process.

Group of answer choices

The price for performing a federal tax return is $200 and a state tax return is $100 if contracted separately.

      [ Choose ]            Step 3            Step 5            Step 2            Step 1            Step 4      

Tax Prep Inc. will prepare the year-end federal tax return and state tax return for Customer Y.

      [ Choose ]            Step 3            Step 5            Step 2            Step 1            Step 4      

The total price for the year-end tax preparation is $300.

      [ Choose ]            Step 3            Step 5            Step 2            Step 1            Step 4      

Customer Y enters into an agreement with Tax Prep Inc for Tax Prep Inc. to prepare Customer Y's federal and state tax returns.

      [ Choose ]            Step 3            Step 5            Step 2            Step 1            Step 4      

The federal and state tax returns are completed and approved by Customer Y.

Popular Toys Inc. sells toys that are in the top 10% of market demand. The two bestselling toys are the Personal Robot and the Smart Bear. The past year’s budget and actual sales and market data for these two products are shown below:

Expected (budget) data                                          Personal Robot                                   Smart Bear

Expected total industry salesin units                                    600,000                                    480,000

Expected company salesinunits                                           38,500                                        45,600

Expected selling price per unit                                                $130                                             $100

Expected variable cost per unit                                                 $75                                               $60

Actual data

Industry sales in units                                          580,000                                          410,000

Company sales in units                                                            36,500                                           42,600

Selling price per unit                                                                 $125                                                 $90

Variable cost per unit                                                               $ 80                                                   $653

.Which of the following is the sum of thesales mix variances for both products?

a)$1,109 F

b)$4,334 F

c)$5,779 F

d)$27,449 F

4.Which of the following is the market share variance for both products?

a)$94,195F

b)$102,681 F

c)$190,791F

d)$208,135F          

Bob makes widgets. Variable costs per unit are $2. Fixed cost per unit (at an output level of 100) are $1 per unit. The normal sales price per unit is $5. A customer approaches Bob offering to buy 40 widgets for $4 each. Assume Bob has excess capacity.

1) What is the effect on operating income if he accepts the order? Additional revenue – additional cost = effect on oper. income. Fixed costs won’t change so additional costs = VC

2) Assume that, to fill the special order, Bob must buy and completely use up (no future use) a special material for $50. What is the effect on operating income if he accepts the order? Consider the special material to be part of the additional cost specific to this order.

3) Assume the need for the special material as in #2. Also, assume there is no excess capacity. What price would Bob need to charge for the special order so that operating income will be the same whether or not he accepts the special order?

How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range is given below. Assume that the population of x values has an approximately normal distribution.

(a) Use a calculator with mean and sample standard deviation keys to find the sample mean price x and sample standard deviation s. (Round your answers to two decimal places.)

(b) Using the given data as representative of the population of prices of all summer sleeping bags, find a 90% confidence interval for the mean price μ of all summer sleeping bags. (Round your answers to two decimal places.)

What is the price of a 10-year, $1,000 bond with a 6% coupon rate and semiannual coupons if the bond’s yield to maturity is 9% (APR with semiannual compounding)?

Consider a project with the following cash flows:

Year                     0                 1                      2                      3                      4

Cash Flow      -10,000         4,000               4,000               4,000               4,000

What is the internal rate of return (IRR) of the above project?

Security:         AAA    AA      A         BBB    BB

Yield (%):       5.0       5.5       6.0       6.4       8.0

A mining company needs to raise $100 million in order to begin open pit mining of a coal seam. The company will fund this by issuing 30-year bonds with a face value of $1,000 and a coupon rate of 6%, with the coupons paid annually. The above table shows the yield to maturity for similar 30-year corporate bonds of different ratings. If the mining company's bonds receive an AAA rating, what will be their selling price?

Exercise 15-15

Grouper Corporation’s charter authorized 1 million shares of $12 par value common shares, and 200,000 shares of 5% cumulative and non-participating preferred shares, with a par value of $100 per share. The corporation made the following share transactions through December 31, 2017: 260,000 common shares were issued for $3.64 million and 9,000 preferred shares were issued for machinery valued at $1,388,000. Subscriptions for 10,500 common shares have been taken, and 25% of the subscription price of $16 per share has been collected. The shares will be issued upon collection of the subscription price in full. In addition, 9,000 common shares have been repurchased for $15 and retired. The Retained Earnings balance is $150,000 before considering the transactions above.

A. Prepare the shareholders’ equity section of the statement of financial position in good form

B. Prepare the shareholders’ equity section of the statement of financial position in good form. Assume that the common shares and preferred shares are no par.

How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range is given below. Assume that the population of x values has an approximately normal distribution. 105 80 45 35 105 65 30 23 100 110 105 95 105 60 110 120 95 90 60 70

(a) Use a calculator with mean and sample standard deviation keys to find the sample mean price x and sample standard deviation s. (Round answers to two decimal places.) x = $ s = $

(b) Using the given data as representative of the population of prices of all summer sleeping bags, find a 90% confidence interval for the mean price μ of all summer sleeping bags. (Round answers to two decimal places.) lower limit $ upper limit $

John’s Weed-B-Gone yard service sprays lawns to rid them of weeds. John mixes the two chemicals, Weed-X and Pest-O, in proportions depending on the climate and the particular weed problems of the season. A standard mix calls for a gallon of the mixture to combine equal parts of Weed-X and Pest-O. Weed-X has a standard cost of $10.00 per gallon and Pesto-O has a standard cost of $24.90 per gallon. Each gallon can treat 100 square yards of lawn. John expects to treat 534,000 square yards of lawn.

For the past season, John treated 658,000 square yards. He used 4,200 gallons of Weed-X and 4,100 gallons of Pest-O. He paid a total of $36,000 for the Weed-X and $97,170 for the Pest-O.

Required:

a. Compute the materials price and efficiency variances for the season.

b. Compute the materials mix and yield variances for the season.

On July 2, 2021, Blossom Company sold to Sue Black merchandise having a sales price of $9,600 (cost $5,760) with terms of 2/10. n/30. f.o.b. shipping point. Blossom estimates that merchandise with a sales value of $810 will be returned. An invoice totaling $100, terms n/30, was received by Black on July 6 from Pacific Delivery Service for the freight cost. Upon receipt of the goods, on July 3, Black notified Blossom that $350 of merchandise contained flaws. The same day, Blossom issued a credit memo covering the defective merchandise and asked that it be returned at Blossom’s expense. Blossom estimates the returned items to have a fair value of $120. The freight on the returned merchandise was $20 paid by Blossom on July 7. On July 12, the company received a check for the balance due from Black.

Prepare journal entries for Blossom Company to record all the events noted above assuming sales and receivables are entered at gross selling price.