8. award: 1 out of 1.00 point How many units are in ending work in process inventory in the first processing department at the end of the month? 500 6,800 900 300 Units in ending
3. Question : (TCO 1) The financial statement that summarizes the changes in retained earnings for a specific period of time is the _____. 4. Question : (TCO 1) Pinson Company began the year with retained earnings of $210,000. During the year, the company recorded revenues of $300,000, expenses of $228,000, and paid dividends of $24,000.
The sum of the market or appraised values of identifiable assets acquired less the fair value of liabilities assumed exceeded the cost to Easton. After revaluing noncurrent assets to zero, there was still some “negative goodwill.” Proper accounting treatment by Easton is to report the amount as A. part of current income in the year of combination. B. a deferred credit and amortize it. C. an extraordinary gain. D. paid-in capital.
Explain your answers. a. If a firm in the industry wishes to increase total sales revenue (ignoring cost considerations), will it raise or lower its selling price? Why? The selling price would only increase because the absolute value of -2.5 is 2.5 which are greater than 1 meaning it is elastic and an increase in price leads to a reduction in total revenue.
Problem #6, p. 221 in text. (You do not need to “derive” the Cournot equilibrium. Just solve for the values using the appropriate formulas.) Market demand: P = 400 – 2Q Unit cost production = 40 a. Firm’s quantity in equilibrium is : q1 = (a-c)/3b = (400-40)/(3*2)= 60 unit = q2 Firm’s revenue: P= 400 – 2 * (2*60) = $160 Firm’s profit = (60*160) – (60*40) = $7200 b. Monopoly output: MR=400-4q MC=40 MR=MC 400 – 4q = 40 then q=90 unit The reason that producing on half the monopoly output (90*1.5 = 135) a Nash equilibrium outcome is that it will exceed the market demand of Nash equilibrium ($160).
Data Case CH8. Q1. R&D expense for 2012: 1926 mln Revenue for 2012: 13 788 mln Q2. Total costs research facility: 24 mln. depreciation over 3 years Depreciation costs per year: 24/3= 8 mln per year.
Watson's product requires 30 minutes of direct labor time. Each hour of direct labor costs $7. Instructions: a. Rounding computations to the nearest dollar, prepare the following for January through March: 1) Sales budget 2) Schedule of cash
Conversely, if the test statistic does not fall in the rejection region, then we cannot reject the null hypothesis (H0) stating that there is insufficient evidence (McClave, p. 325). The Average (mean) annual income was less than $50,000 Summary The null and alternative hypotheses from Appendix A are H0: µ =50 and Ha: µ <50. The Minitab results from Appendix B bii, shows a z test statistic of -3.02, and a p value of 0.001. The p value actually represents the “probability that our test statistic will be as extreme, or more extreme, than one observed by chance alone, if the null hypothesis H0, is true; or the probability of wrongly rejecting the null hypothesis if it is in fact true” (Easton & McColl). In hypothesis testing, the smaller the p value the more important it is.
Question: (TCO 2) ABC Manufacturing Company has the following total job cards. Job A $6,500 Job B $5,630 Job C $3,825 Job D $3,800 Job E $6,300 Job F $4,200 Jobs A and B were in Finished Goods Inv. at the beginning of the month. Jobs C and D were in Work-in-Process at the beginning of the month. Jobs E and F were started during the month.
| Selected Answer: | False | Correct Answer: | False | | Question 2 2 out of 2 points | | | In general, an increase in price increases the break even point if all costs are held constant. Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 3 2 out of 2 points | | | Fixed cost is the difference between total cost and total variable cost. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 4 2 out of 2 points | | | Parameters are known, constant values that are usually coefficients of variables in equations.Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 5 2 out of 2 points | | | P(A | B) is the probability of event A, if we already know that event B has occurred. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 6 2 out of 2 points | | | A binomial probability distribution indicates the probability of r successes in n trials. Answer | | | | | Selected Answer: | True | Correct Answer: | True | | | | | Question 7 2 out of 2 points | | | A continuous random variable may assume only integer values within a given interval.Answer | | | | | Selected Answer: | False | Correct Answer: | False | | | | | Question 8 2 out of 2 points | | | A bed and breakfast breaks even every month if they book 30 rooms over the course of a month.