The rental price of capital? The real wage? d. Suppose that a technological advance raises the value of the parameter A by 10 percent. What happens to total output (in percent)? The rental price of capital?
5) Information about Clearwater Company's direct materials cost follows: Standard price per materials ounce $ 100 Actual quantity used 8,700 grams Standard quantity allowed for production 9,100 grams Price variance $ 76,125 F ________________________________________ Required: What was the actual purchase price per gram? (Round your answer to 2 decimal places. Omit the "$" sign in your response.) Actual purchase price $ 91.25 Total grade: 0.0×1/1 = 0% Feedback: Actual Costs = AP × 8,700 Actual Inputs at Standard Price = $100 × 8,700 =$870,000 Price Variance = $76,125 F 8,700 × AP = $870,000 – $76,125 AP = $91.25 ________________________________________ Question 3: Score
2a. What is the shortest loan (36 months, 48 months, 60 months or 72 months) that has a monthly payment within your $500 budget that will allow you to buy the $30,000 car? Answer: Through Bank of America, I found a rate of 2.99% for the 36, 48 and 60 month loans. We are able to put down 20% and will need to finance $24,000. The shortest loan period for the $30,000 car that would be under our $500 limit is the 60 month loan at a rate of $431.13 per month.
2. (10 pts.) Referring to the table below, hiring a driver costs $10. Each machine costs $100. Which method should he use and why?
5.17 | Q1, Q2, Q3Job costing, service sector Consider the following budgeted data for a client job of Bob Crachit’s accounting firm. The client wants a fixed price quotation. Direct professional labor | $20,000 | Direct support labor | 10,000 | Fringe benefits for direct labor | 13,000 | Photocopying | 2,000 | Telephone calls | 2,000 | Computer equipment | 6,000 | Overhead is allocated at the rate of 100% of direct labor cost.REQUIRED: | A. | Prepare a schedule of the budgeted total costs for the client. Show subtotals for total direct labor costs and total costs as a basis for markup.
Solutions to Week 1 HW Chapter 1 E14. [LO 5]. Incremental revenue per day $2,500 Less incremental costs: Labor $700 Parts 500 Transportation 100 Office staff 200 1,500 Incremental Profit per Day $1,000 Opportunity cost = $1,000 per day 52 days = $52,000 Rent and depreciation do not enter into the calculation of the opportunity cost since these costs are not incremental (they will be incurred whether or not Ken decides to stay open on Saturday). P2. [LO 5 and 6].
What is correct here? 26 Which of the following is never negative? 27 If the marginal product of labor is 100 and the price of labor is 10, while the marginal product of capital is 200 and the price of capital is $30, then what should the firm? 28 In a production process, an excessive amount of the variable input relative to the fixed input is being used to produce the desired output. This statement is true for: 29 What method of inventory valuation should be used for economic decision-making problems?
(John A. Lawrence and Jr. Barry A. Pasternack, 2002) 3. The company can not stop producing Super according to the market demand as it might be available to everybody. Also it wants to use the 8-hour shift per day while the spreadsheet indicates that there will be about 5 hours and a half of unused time because linear programming does not take into consideration the time. (John A. Lawrence and Jr. Barry A. Pasternack, 2002) Question 3 Let X1 = Number of SUPER model produced during 8 hour shift. X2 = Number of EXCELLENT model produced during 8 hour shift.
3. For a skewed distribution, which of the following is a better indicator of the central tendency? A Mean B Variance C Standard deviation D Median 4. The cycle time for processing customer checks were analyzed for the last 200 cases. The mean cycle time was 10 minutes and standard deviation 2.5 minutes.
E. the revenue exceeds variable costs, regardless of available capacity. Answer: B The revenues costs that will be considered in case of the special order are – revenues, variable costs and fixed costs (only if incremental fixed costs have to be incurred). If the firm has excess capacity, it need not incur any additional fixed costs to fulfill the order and thus, the only items relevant are revenues and variable costs. 3. Donnelly, a division of Dakota Enterprises, currently makes 100,000 units of a product that has created a number of manufacturing problems.