Corporation A sells coffee bottles to all, starbursts, locations in the United States. Corporation B sells dinner paper plates to Olive Garden. Corporation A charges $1 for a pack of 100 bottles and Corporation B charges $3 for 1 dinner paper plate. Tell us exactly what information you would need to determine whether Corporation A or Corporation B has higher annual revenue and explain how you would calculate these two figures.

Put your name on the first line in camelCase. Write a JavaScript function to calculate the revenue for blocks sales. Input the number of wooden blocks, the number of plastic blocks and the number of rubber blocks. Wooden blocks are $5. Plastic blocks are $2 and rubber blocks are $4. Calculate the cost for each type of block. Calculate the total cost. Display the four outputs on the page. Label the inputs and the output on your page. Change the title to "Study Hard for the Test!!".

■Machine A

–Initial Cost = $150,000

–Pre-tax operating cost = $65,000

Expected life is 8 years

■Machine B

–Initial Cost = $100,000

–Pre-tax operating cost = $57,500

–Expected life is 6 years

The machine chosen will be replaced indefinitely and neither machine will have a differential impact on revenue. No change in NWC is required.

The required return is 10%, the applicable CCA rate is 20% and the tax rate is 40%.

Which machine should you buy?

Crane Computer Company, in addition to its retail sales, conducts night classes in computer technology. Crane has provided you the following information:

Construct a contribution margin format income statement.

Net income is $40,000 raw materials Nov 1 $ 17,000 Nov 30? WIP Nov 1 $14,00 Nov 30 12,000 Finished goods Nov 1 ? Nov 30 9,000 sales revenue 102,000 Direct labor 10,000 Manufacturing OH 12,000 selling expenses 14,000 Administrative expenses 16,000 Cost of goods manufactured 40,000 raw materials purchased 10,000 What is ending raw material? What is beginning finished goods?

Cigarettes in Australia have long been subject to excise tax – a per cigarette tax levied on the suppliers of cigarettes. (The tax applies to all tobacco products, however for the purposes of this question assume cigarette and tobacco consumption are the same thing). In 2016 the federal government announced that the excise tax rate for cigarettes would rise by 12.5% a year for the next 4 years. Over this period tax revenue collected from the sale of cigarettes has increased considerably. Legal cigarette consumption has fallen to an all-time low in Australia due to a combination of the tax on cigarettes, and public health initiatives such as plain packaging, health warnings and banning advertisements.

Part (a) Consider the following two policies aimed at reducing cigarette smoking:

(i) A tax on the suppliers of cigarettes, and

(ii) The public health campaign initiatives.

Illustrate both of these policies separately using a fully labelled and explained demand and supply diagram for each of parts (i) and (ii). Do not use actual numbers; this is intended as a theoretical exercise.

Compare and contrast the impact on equilibrium price and quantity of cigarettes of each of these policies, explaining your answer with reference to the diagrams. Consider the impact of each policy on government revenue. Explain your answer. Can the impact on government revenue be illustrated on either of your diagrams? If so, indicate and explain the area on the diagram/s that represents government revenue.

Part (b) Consider the following quotation: “When a tax is levied on a good, a share of it is paid by both the consumer and producer. In the case of cigarettes however much more of the burden of the tax is paid by consumers, even though the tax is levied on the suppliers of cigarettes.”

Why might this be the case? In your answer explain both parts (sentences) of this statement. If the price of a packet of cigarettes increased by 10%, and in light of your explanation of the quotation, would you expect the quantity of cigarettes consumed to increase or decrease, and by more or less than 10%? Explain your answer.

Part (c) Taxation of cigarettes is often justified on the grounds that cigarette smoking creates externalities. What is meant by the term “externalities” in this context? Give two examples of externalities created by cigarette smoking and explain how a tax on cigarettes could potentially address both of these. Using a fully labelled and explained diagram explain how a tax can increase efficiency in the cigarette market. What size tax should be levied to maximise efficiency in this market? (Indicate the efficient tax size on your diagram – no actual number required).

Part (d) Is a tax on cigarettes a regressive tax or a progressive tax? Explain your answer, including a definition of both terms.

Part (e) Australia’s police forces and border forces have warned that rapid rises in the tax on cigarettes have had unintended consequences of encouraging illegal activity such as smuggling, with proceeds funding other criminal activities. Explain why this might be the case. In your answer refer to the role that elasticity of demand plays in making illegal activity more profitable.

M6 In the short run, a firm should expand the use of a variable input until a. Its marginal product is zero. b. Its marginal revenue product is zero. c. Its marginal revenue product is at a maximum. d. Its marginal revenue product equals the input’s marginal cost. e. None of the above answers is correct. M7 Firm X sells output at P = $4 per unit and pays labor a wage of $20 per hour. The marginal product of labor is given by: MPL = 30 - .1L. The profit-maximizing quantity of labor is: a. L = 100 hours. b. L = 180 hours. c. L = 250 hours. d. L = 300 hours. e. L = 320 hours. M8 In the long run, do firms face trade-offs in how they produce? f. No, they have fully adjusted to all relevant factors; there are no more trade-offs. g. No, their options to modify production are limited. h. Yes, but the trade-offs only involve fixed inputs. i. Yes, because they have the maximum flexibility to trade off inputs. j. Yes, but only when there is a major change in technology. M9 In the long run, the firm produces a given level of output at least cost by a. Equating the ratios of marginal products to input prices across all inputs. b. Ensuring equality of marginal products across inputs. c. Using a greater proportion of the cheaper input. d. Intensively applying more and more labor to its fixed plant. e. None of these answers is correct. M10: Which of the following is likely to be a cause of increasing returns to scale? a. A change to production methods not feasible at low levels of output. b. Increased specialization of labor. c. A one-time fall in labor costs. d. Answers a and b are both correct. e. Answers a, b, and c are all correct. M11 Under constant returns to scale, a. A given percentage change in one input implies an equal change in total output. b. A given percentage change in all inputs implies constant marginal products for all inputs. c. A given percentage change in all inputs causes an equal percentage change in output. d. The production function varies linearly with all inputs. e. A constant level of output is achieved with various combinations of inputs. M12 In the long-run, a profit-maximizing firm produces such that a. The marginal products of all inputs are zero. b. The ratios of marginal products to input prices are equal across all inputs. c. Each input’s marginal revenue product equals the input’s marginal cost. d. Marginal products are equal for all inputs. e. Both b and c are correct. M13 The slope of an isoquant is referred to as the a. Marginal efficiency of production. b. Marginal product of each input. c. Marginal rate of technical substitution. d. Marginal rate of factor efficiency. e. Ratio of input prices.

M6 In the short run, a firm should expand the use of a variable input until a. Its marginal product is zero. b. Its marginal revenue product is zero. c. Its marginal revenue product is at a maximum. d. Its marginal revenue product equals the input’s marginal cost. e. None of the above answers is correct. M7 Firm X sells output at P = $4 per unit and pays labor a wage of $20 per hour. The marginal product of labor is given by: MPL = 30 - .1L. The profit-maximizing quantity of labor is: a. L = 100 hours. b. L = 180 hours. c. L = 250 hours. d. L = 300 hours. e. L = 320 hours. M8 In the long run, do firms face trade-offs in how they produce? f. No, they have fully adjusted to all relevant factors; there are no more trade-offs. g. No, their options to modify production are limited. h. Yes, but the trade-offs only involve fixed inputs. i. Yes, because they have the maximum flexibility to trade off inputs. j. Yes, but only when there is a major change in technology. M9 In the long run, the firm produces a given level of output at least cost by a. Equating the ratios of marginal products to input prices across all inputs. b. Ensuring equality of marginal products across inputs. c. Using a greater proportion of the cheaper input. d. Intensively applying more and more labor to its fixed plant. e. None of these answers is correct. M10: Which of the following is likely to be a cause of increasing returns to scale? a. A change to production methods not feasible at low levels of output. b. Increased specialization of labor. c. A one-time fall in labor costs. d. Answers a and b are both correct. e. Answers a, b, and c are all correct. M11 Under constant returns to scale, a. A given percentage change in one input implies an equal change in total output. b. A given percentage change in all inputs implies constant marginal products for all inputs. c. A given percentage change in all inputs causes an equal percentage change in output. d. The production function varies linearly with all inputs. e. A constant level of output is achieved with various combinations of inputs. M12 In the long-run, a profit-maximizing firm produces such that a. The marginal products of all inputs are zero. b. The ratios of marginal products to input prices are equal across all inputs. c. Each input’s marginal revenue product equals the input’s marginal cost. d. Marginal products are equal for all inputs. e. Both b and c are correct. M13 The slope of an isoquant is referred to as the a. Marginal efficiency of production. b. Marginal product of each input. c. Marginal rate of technical substitution. d. Marginal rate of factor efficiency. e. Ratio of input prices.

Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Account Title Debits Credits Cash 31,400 Accounts receivable 40,200 Supplies 1,600 Inventory 60,200 Notes receivable 20,200 Interest receivable 0 Prepaid rent 1,000 Prepaid insurance 6,200 Office equipment 80,800 Accumulated depreciation 30,300 Accounts payable 31,200 Salaries payable 0 Notes payable 50,200 Interest payable 0 Deferred sales revenue 2,100 Common stock 61,400 Retained earnings 29,000 Dividends 4,200 Sales revenue 147,000 Interest revenue 0 Cost of goods sold 71,000 Salaries expense 19,000 Rent expense 11,100 Depreciation expense 0 Interest expense 0 Supplies expense 1,200 Insurance expense 0 Advertising expense 3,100 Totals 351,200 351,200 Information necessary to prepare the year-end adjusting entries appears below. Depreciation on the office equipment for the year is $10,100. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $800. On October 1, 2021, Pastina borrowed $50,200 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. On March 1, 2021, the company lent a supplier $20,200 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. On April 1, 2021, the company paid an insurance company $6,200 for a one-year fire insurance policy. The entire $6,200 was debited to prepaid insurance. $500 of supplies remained on hand at December 31, 2021. A customer paid Pastina $2,100 in December for 800 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. On December 1, 2021, $1,000 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $500 per month. The entire amount was debited to prepaid rent. rev: 09_14_2019_QC_CS-180268, 10_11_2019_QC_CS-184133 4. Prepare an income statement and a statement of shareholders’ equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $4,200 in cash dividends were paid to shareholders during the

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Prepare the income statement for the year ended December 31, 2021. (Other expenses should be indicated with a minus sign.)