Homework Answers
a) The average total cost will be = variable cost + fixed cost / quantity, the answer will be 30.30. option "A".
b) "B"
the marginal product will increase at the increasing rate and then increases at a decreasing rate reaches a maximum and then declines.
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Use the following to answer questions 14-16: Costs for Toy-Making Firm ATC AVC AFC MC 8...
Use the following to answer questions 14-16: Costs for Toy-Making Firm ATC AVC AFC MC 8 40 54 66 76 84 91 96 93.75 58.82 46.30 37.50 32.41 30.30 29.61 29.76 30.22 31.25 31.25 29.41 27.78 25.00 23.15 22.73 23.03 23.81 24.73 26.04 62.50 29.41 18.52 12.50 9.26 7.58 6.58 5.95 5.49 5.21 31.25 27.78 25.00 19.23 17.86 20.83 25.00 31.25 35.71 50.00 14. (Table) If the toy-making firm in the table faces a market price of $20 in the...
It says that 4 of the answers are incorrect. Can you tell me what the correct...
It says that 4 of the answers are incorrect. Can you tell me
what the correct answers would be? Thanks!
Question 1 1 pts Another term for normal profit is zero economic profit. O False True Question 2 1 pts Average total cost can be found by: adding fixed cost and variable cost. dividing the change in output by the change in the number of workers. adding average fixed cost and average variable cost together. dividing the change in total...
Use the following image(IF NEEDED) to answer the question below. QUESTION: Cronah has the following normal...
Use the following image(IF NEEDED) to answer the question
below.
QUESTION:
Cronah has the following normal account balances: contributed
capital, $1,000,000; accounts payable, $14,000; property, plant and
equipment, $100,000; revenue, 500,000; wage expense, $10,000;
inventory, $130,000; cash, $850,000; accounts receivable, $250,000,
retained earnings, $326,000; and cost of goods sold, $200,000.
(T of F)
Total assets are $1,330,000
o True
o False
g Goal: Prepare trial balance, generate financial statements using ACCRUAL-basis accounting. 1. Use the template below to indicate how...
Use the following image(IF NEEDED) to answer the question below. QUESTION: The preparation of the trial...
Use the following image(IF NEEDED) to answer the question
below.
QUESTION:
The preparation of the trial balance occurs after to the
preparation of the financial statements.
o True
o False
g Goal: Prepare trial balance, generate financial statements using ACCRUAL-basis accounting. 1. Use the template below to indicate how the following transactions affect the accrual-basis accounting equation: a. Kissimmee, Inc. (a retail store) begins business on January 1, 2015 with a $100,000 cash contribution from the owners. b. On January...
Payable: Use the t-accts below to record the following entries. If you get stuck, carefully revie...
Payable: Use the t-accts below to record the following entries. If you get stuck, carefully review the online and text examples. On September 1t, Geo Inc. borrows $2,400 from State Bank and signs a 10 month short-term note payable. The interest rate on the note is 7%. Even though the note is only for 10 months, the interest rate is an annual rate (see interest calculations below). a) Record the entry to borrow the money from the bank. b) Next,...
Use the following to answer questions 14-16: Costs for Toy-Making Firm ATC AVC AFC MC 8 40 54 66 76 84 91 96 93.75 58.82 46.30 37.50 32.41 30.30 29.61 29.76 30.22 31.25 31.25 29.41 27.78 25.00 23.15 22.73 23.03 23.81 24.73 26.04 62.50 29.41 18.52 12.50 9.26 7.58 6.58 5.95 5.49 5.21 31.25 27.78 25.00 19.23 17.86 20.83 25.00 31.25 35.71 50.00 14. (Table) If the toy-making firm in the table faces a market price of $20 in the...
It says that 4 of the answers are incorrect. Can you tell me
what the correct answers would be? Thanks!
Question 1 1 pts Another term for normal profit is zero economic profit. O False True Question 2 1 pts Average total cost can be found by: adding fixed cost and variable cost. dividing the change in output by the change in the number of workers. adding average fixed cost and average variable cost together. dividing the change in total...
Use the following image(IF NEEDED) to answer the question
below.
QUESTION:
Cronah has the following normal account balances: contributed
capital, $1,000,000; accounts payable, $14,000; property, plant and
equipment, $100,000; revenue, 500,000; wage expense, $10,000;
inventory, $130,000; cash, $850,000; accounts receivable, $250,000,
retained earnings, $326,000; and cost of goods sold, $200,000.
(T of F)
Total assets are $1,330,000
o True
o False
g Goal: Prepare trial balance, generate financial statements using ACCRUAL-basis accounting. 1. Use the template below to indicate how...
Use the following image(IF NEEDED) to answer the question
below.
QUESTION:
The preparation of the trial balance occurs after to the
preparation of the financial statements.
o True
o False
g Goal: Prepare trial balance, generate financial statements using ACCRUAL-basis accounting. 1. Use the template below to indicate how the following transactions affect the accrual-basis accounting equation: a. Kissimmee, Inc. (a retail store) begins business on January 1, 2015 with a $100,000 cash contribution from the owners. b. On January...
Payable: Use the t-accts below to record the following entries. If you get stuck, carefully review the online and text examples. On September 1t, Geo Inc. borrows $2,400 from State Bank and signs a 10 month short-term note payable. The interest rate on the note is 7%. Even though the note is only for 10 months, the interest rate is an annual rate (see interest calculations below). a) Record the entry to borrow the money from the bank. b) Next,...
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