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2 years ago

A recent income statement of McClennon Corporation reported the following data:

Business

1 answer:

arsen [322]2 years ago

7 0

Answer:

The correct answer is option b.

Explanation:

The number of units of output sold is 8,000 .

The sales revenue is $9,600,000 .

The variable costs are $6,000,000 .

The fixed costs are $2,600,000.

The price of the product

= $\frac{Sales\ Revenue}{Q}$

= $\frac{9,600,000}{8,000}$

= $1,200

The average variable cost is

= $\frac{TVC}{Q}$

= $\frac{6,000,000}{8,000}$

= $750

Profit = TR - TC

Profit = $Price\ \times\ Q - (AVC\ \times\ Q )\ +\ TFC)$

$1,270,000 = $1,200Q - $750Q - $2,600,000

$3,870,000 = $450Q

Q = $\frac{3,870,000}{450}$

Q = 8,600 units

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George works in the accounting department at the Green Goddess Lawn Services, where it is his job to record all transactions int

Sedbober [7]

Answer:

The correct answer is post the information to the ledger.

Explanation:

In accounting, the general ledger is a document where all the transactions of corporations are recorded in chronological order. Each account must have a different book, which must be affected each time the accounts are involved in this process. These records make it possible to know the movements in a more detailed way, since unlike the journal in this case, only a single group of accounts is known and not the whole.

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2 years ago

A rug manufacturer has decided to use 7 compatible colors in her rugs. however, in weaving a rug, only 5 spindles can be used. i

zubka84 [21]

The number of available colors is n = 7.
The number of colors that can be selected at a time among the 7 colors is r = 5.

This means that the number of selections of 5 colors from 7 colors at a time is ₇C₅.
By definition,
$_{7} C_{5} = \frac{7!}{2!5!} = \frac{7.6.5!}{2.1.5!} = \frac{7.6}{2}=21$

Answer: The number of color groupings is 21.

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2 years ago

Read 2 more answers

You are one of 5 identical firms (i.e., you all have the same costs) that sell widgets. Each day you have a fixed cost of $9 to

g100num [7]

Answer:

a. $1.5; b. 10 units; c. $7; d. $6

Explanation:

There are 5 identical firms in a market.

These firms sell widgets.

The fixed cost of each firm is $9.

The marginal cost of your first through fifth widgets are $1, $2, $3, $7, and $8, respectively.

a. The total variable cost for producing two widgets

= $1 + $2

= $3

The average variable cost

= $\frac{TVC}{Q}$

= $\frac{3}{2}$

= $1.5

b. The firms will supply the level of output where the price is able to cover the marginal cost of production.

At the price level $2.5, the marginal cost of producing 2 units i.e $2 is being covered. So the firms will supply 2 units each. The market supply will be 10 units.

c. The equilibrium price will be such that it is able to cover the marginal cost of production and the average variable cost.

The average variable cost

= $\frac{TVC}{Q}$

= $\frac{13}{4}$

= $3.25

That price is $7, so it will be the equilibrium price.

d. In the long run, the equilibrium price will be determined at the point where price equals ATC.

The total variable cost for producing two widgets

= $1 + $2 + $3 + $7 + $8

= $21

The total cost

= TFC + TVC

= $21 + $9

= $30

The average total cost

= $\frac{TC}{Q}$

= $\frac{30}{5}$

= $6

So, the long run price will be $6.

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2 years ago

At Haptic Manufacturing, all employees are required to take safety training every six months. The top executives understand the

AveGali [126]

Answer:

They Developed on-the job training and learning. They used the plant to train their employees at the same time the plant is fully operational and employees are training too.

Explanation:

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2 years ago

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On January 15, Pinkney, Inc., issued 10,000 shares of $10 par value common stock in exchange for land and a building. Five years

MAXImum [283]

Answer:Pinkney Journal $

Date

January 15

Land $ Building. Dr 100,000

Share capital. Cr. 100,000

Narration. Transfer of share for the purchase of land and building.

Explanation:

The firm will record the value of the land and building at the price of shares it has transferred for the purchase not withstanding the price of it's purchase by the seller nor the market fair value on purchase.

The payment of the price of the land & building with shares does not represents a new issue of shares but it's a transfer of share ownership from the firm to the seller and this will be reflected in the share register.

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2 years ago