Answer:
The journal entries are as follows:
(i) On December 31, 2017
Unrealized gain or loss income A/c Dr. $10,800
To estimated purchase commitment liability $10,800
(To record other income and expenses)
Workings:
Unrealized gain or loss income = 36,000 × ($3 - $2.7)
= 36,000 × $0.3
= $10,800
(ii) On January 1, 2018
Raw material A/c (36,000 × $2.7) Dr. $97,200
Estimated purchase commitment liability A/c Dr. $10,800
To accounts payable $108,000
(To record the materials received in January 2018)
density=mass/volume
mass=density *volume
mass of mercury=13.6 *50=680g
mass of bottle when filled with mercury=680 +25=705g
Answer:
The answer is: ALL THE OPTIONS ARE WRONG
Explanation:
A) In the short run, the firm will shut down if the price of its product is < $12.
B) In the long run, the firm will shut down if the price of its product is < $15.
C) The minimum value of variable cost equals the variable cost of producing 1 single unit, not the variable cost of producing 200 units.
D) If the firm's fixed costs are $500, it means that they decreased. According to the question the fixed costs were $690 (230 units x $3 per unit). So if the fixed costs decrease, then the average total cost should also decrease, not increase to $16.