Homework Answers
Number of widgets produce by machine A in 3 hours=435
Number of widgets produce by machine A in 1 hours= 435/3= 145
Therefore,
Number of widgets produce by machine A in 7 hours = 7×145
=1015
Hence, number of widgets produce by machine A in 7 hours=1015
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Question 4 (5 points) Machine A can produce 435 widgets in 3 hours. At this rate,...
Question 4 (25 points) if the total cost for producing widgets can be represented by TC...
Question 4 (25 points) if the total cost for producing widgets can be represented by TC 8,000 2X, where X is the number of widgets produced and total revenue can be represented by TR = 4X, what is the breakeven value for number of widgets produced? a) 2462 b) 3763 c) 1684 d) 2000
Question 3 4 pts Acme Products manufactures widgets. It has two machines which produce widgets. It...
Question 3 4 pts Acme Products manufactures widgets. It has two machines which produce widgets. It is desirable that both machines produce widgets of the same dimensions. At regular time intervals Acme's quality control tests the widgets from both machines. The last test produced the following results. In this context sM is the sample mean. SM1 = 5.61 S1 = 1.07 n1 = 100 SM2 = 5.89 S2 = 1.26 n2 = 100 Do the machines produce different sized widgets?...
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The table shows how Widgets R Us can use different combinations of labor and capital to...
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1. A machine is needed to produce parts at the rate of 60 per hour. The operator to run the machine will be paid $1...
1. A machine is needed to produce parts at the rate of 60 per hour. The operator to run the machine will be paid $11.47 per hour. The parts cost $.47 each and will be sold for $.93 each after this operation. This operation is expected to be needed for 7 years. SOYD depr will be used and 10% salvage is assumed. Assume that revenues, labor, and material costs flow uniformly and continuously throughout the year, and that the machine...
Suppose the following is how many widgets workers can produce: P=$10. How much is MRP of...
Suppose the following is how many widgets workers can produce: P=$10. How much is MRP of each worker? L TP w MP MRP TE ME 0 0 10 1 12 20 2 22 30 3 30 40 4 36 50 5 40 60 6 42 70 a. Using the above information, solve for the MP, MRP, and TE, ME for each worker. Assume the price of output is p=$10. b. If there is no minimum wage, how many workers should the firm hire? c. If the...
Suppose that labor (worker hours) and capital (machine hours) are perfect substitutes in the production of...
Suppose that labor (worker hours) and capital (machine hours) are perfect substitutes in the production of widgets. Each widget can be produced in 20 minutes by a worker or in 15 minutes by a machine. The price of labor is $20 per hour, and the price of capital is $30 per hour. Derive the equation for long-run total cost. a. ???? = 60? b. ???? = 170? / 12 c. ???? = 120? d. ???? = 20? / 3 e....
Question 2 (ahswer requirements a, b and c) (4 points for part a, 4 points for part b, 4 points f...
Question 2 (ahswer requirements a, b and c) (4 points for part a, 4 points for part b, 4 points for part c) Management believes that their electrical cost is a mixed cost that depends on machine-hours. Machine- Electrical Cost Hours 413 506 435 486 499 461 467 458 March April May une $7,371 $7,740 $7,447 Required: a. Use the high-low method to estimate the variable and fixed components of this cost. $7,704 August b. What is the cost estimation...
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Alison can produce 1 pair of shoes and 3 cookies in one hour, Stan can produce 3 pairs of shoes and 1 cookie in one hour. If each worker has 2 hours, which of the following points (shoes, cookies) does NOT lie on the production possibility frontier? a. (8 pairs of shoes, O cookies) b. (7 pairs of shoes, 3 cookies) c. (6 pairs of shoes, 6 cookies) d. (5 pairs of shoes, 9 cookies) 57. 2. In one hour,...
D | Question 7 2 pts machine hours is an allocation base for pre determined rate...
D | Question 7 2 pts machine hours is an allocation base for pre determined rate calculations O True O False DI Question 3 pts the pre determined rate is based upon which of the following as it relates to the type of data used. O actual data estimates O hybrid O none of the above
Question 4 (25 points) if the total cost for producing widgets can be represented by TC 8,000 2X, where X is the number of widgets produced and total revenue can be represented by TR = 4X, what is the breakeven value for number of widgets produced? a) 2462 b) 3763 c) 1684 d) 2000
Question 3 4 pts Acme Products manufactures widgets. It has two machines which produce widgets. It is desirable that both machines produce widgets of the same dimensions. At regular time intervals Acme's quality control tests the widgets from both machines. The last test produced the following results. In this context sM is the sample mean. SM1 = 5.61 S1 = 1.07 n1 = 100 SM2 = 5.89 S2 = 1.26 n2 = 100 Do the machines produce different sized widgets?...
The table shows how Widgets R Us can use different combinations of labor and capital to produce its widgets. 2 22 3 30 1 2 3 Units of capital Workers 4 3 8 I 49 68 1 10 15 18 5 46 57 82 6 50 64 94 7 48 70 104 29 41 34 52 If the firm uses 2 workers and 2 units of capital, how many widgets can it produce? widgets bers privacy policy terms of use...
1. A machine is needed to produce parts at the rate of 60 per hour. The operator to run the machine will be paid $11.47 per hour. The parts cost $.47 each and will be sold for $.93 each after this operation. This operation is expected to be needed for 7 years. SOYD depr will be used and 10% salvage is assumed. Assume that revenues, labor, and material costs flow uniformly and continuously throughout the year, and that the machine...
Question 2 (ahswer requirements a, b and c) (4 points for part a, 4 points for part b, 4 points for part c) Management believes that their electrical cost is a mixed cost that depends on machine-hours. Machine- Electrical Cost Hours 413 506 435 486 499 461 467 458 March April May une $7,371 $7,740 $7,447 Required: a. Use the high-low method to estimate the variable and fixed components of this cost. $7,704 August b. What is the cost estimation...
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D | Question 7 2 pts machine hours is an allocation base for pre determined rate calculations O True O False DI Question 3 pts the pre determined rate is based upon which of the following as it relates to the type of data used. O actual data estimates O hybrid O none of the above
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