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(3) 17. Derek's company can produce baseball bats at a cost of $25 apiece. If is...
Suppose Jim and Tom can both produce baseball bats. If Jim's opportunity cost of producing baseball...
Suppose Jim and Tom can both produce baseball bats. If Jim's opportunity cost of producing baseball bats is lower than Tom's opportunity cost of producing baseball bats, then Select one: a. Jim must have an absolute advantage in the production of baseball bats. b. Tom has a comparative advantage in the production of baseball bats. C. Tom must have an absolute advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats....
10. A manufacturer can produce sunglases at a cot of $4 apiece. Supose the demand curve...
10. A manufacturer can produce sunglases at a cot of $4 apiece. Supose the demand curve is given by p=24- , where p is in dollars (6) (a) At what price the manufacturer should well the sunglasees so that tbe profit is maximzed? Round the answer to two decimal place, State the answer in a complete sentence. ind the elasticity of demand. Is the demand elastic, inelastic, or of unit elasticity the price when profit is maximized? You may refer...
More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has...
More Hits Company manufactures aluminum baseball bats that it sells to university athletic departments. It has developed the following per unit standard costs for 2019 for each baseball bat: Direct Materials Direct Labor Manufacturing Overhead Standard quantity 2 pounds (Aluminum) ½ hour ½ hour Standard Price $4.00 $10.00 $6.00 Unit standard cost $8.00 $5.00 $3.00 In 2019, the company planned to produce 120,000 baseball bats at a level of 60,000 hours of direct labor. Actual results for 2019 are presented...
17. Abel Company produces three versions of baseball bats: wood, aluminum, and hard rubber. A con...
17-20
17. Abel Company produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statement for a recent period follows: Wood Aluminum Hard Rubber Total Sales Contribution margin Fixed expenses Net income (loss) S 65,000 $765,000 Variable expenses 325.000 140,000 000 23,000 242,000 22,000132,000 (15.000) S110.000 500,000 $200,000 175,000 75,000 35.000 60,000 7,000 S100,000$25.000 Assume none of the fixed expenses for the hard rubber line are avoidable. What will be total net income if the...
1. Sales Mix and Break-Even Sales Dragon Sports Inc. manufactures and sells two products, baseball bats...
1. Sales Mix and Break-Even Sales Dragon Sports Inc. manufactures and sells two products, baseball bats and baseball gloves. The fixed costs are $468,000, and the sales mix is 60% bats and 40% gloves. The unit selling price and the unit variable cost for each product are as follows: Products Unit Selling Price Unit Variable Cost Bats $60 $50 Gloves 150 90 a. Compute the break-even sales (units) for both products combined. units b. How many units of each product,...
A bookstore can obtain an atlas from the publisher at a cost of $12 per copy...
A bookstore can obtain an atlas from the publisher at a cost of $12 per copy and estimates that init sells the atlas forx dollars per copy, approximately 24(26 - x) copies will be sold each month. Express the bookstore's monthly profit from the sale of the atlas as a function of price, graph this function, and use the graph to estimate the optimal selling price. Part 1 out of 3 The bookstore's monthly profit as a function of price...
3. The East Company and the West Company are the only two firms that produce and...
3. The East Company and the West Company are the only two firms that produce and sell a specialized type of machinery. The market demand curve for the machinery is as follows: P 25-0.0005 a In this equation, P is the price of the machinery in dollars and Q is the total amount demanded. The total cost function for the East Company is as follows: TCEast 4Q+0.001 Q?East In this equation, TCEast is total cost in dollars and QEast is...
A company Inc. finds that it costs $200 to produce each motorized scooter and that the...
A company Inc. finds that it costs $200 to produce each motorized scooter and that the forced costs are $1,000 per day yielding the cost function C(x) = 200x + 1,000 The price is given by p=600 - 5x, where p is the price in dollars at which exactly x scooters will be sold. Find the quantity of scooters that the company Inc. should produce and the price it should charge to maximize profit. Find the maximum profit How many...
Problem 3: Standard Cost Variances - 40 Points Rawlings Company produces a baseball called the Cutter....
Problem 3: Standard Cost Variances - 40 Points Rawlings Company produces a baseball called the Cutter. The company has recently established a standard cost system to help control costs and established the following standards for the Cutter baseball: Direct materials Direct labor 7 ounces per baseball at $0.33 per ounce 1.3 hours per baseball at $7.00 per hour During April, the company produced 5,300 Cutter baseballs. Actual production data for the month follow: Direct materials Direct labor 38,000 ounces were...
1. Diamond Ltd makes 2 types of baseball bat the “Jonny Bench (JB)” and the “Mickey...
1. Diamond Ltd makes 2 types of baseball bat the “Jonny Bench (JB)” and the “Mickey Mantles (MM)”. The standard costs for these items are shown below: Standard cost JB MM Price £100.00 £55.00 Variable costs Wood –maple 1.5 metres @ £3 per metre 4.50 4.50 Varnish- £12 per litre 6.00 4.00 Labour (variable) @ £15 per hour 45.00 22.50 Variable overhead based on labour hours 15.00 7.50 Total variable cost 70.50 38.50 Standard contribution £29.50 £16.50 Budgeted fixed overheads...
Suppose Jim and Tom can both produce baseball bats. If Jim's opportunity cost of producing baseball bats is lower than Tom's opportunity cost of producing baseball bats, then Select one: a. Jim must have an absolute advantage in the production of baseball bats. b. Tom has a comparative advantage in the production of baseball bats. C. Tom must have an absolute advantage in the production of baseball bats. d. Jim has a comparative advantage in the production of baseball bats....
10. A manufacturer can produce sunglases at a cot of $4 apiece. Supose the demand curve is given by p=24- , where p is in dollars (6) (a) At what price the manufacturer should well the sunglasees so that tbe profit is maximzed? Round the answer to two decimal place, State the answer in a complete sentence. ind the elasticity of demand. Is the demand elastic, inelastic, or of unit elasticity the price when profit is maximized? You may refer...
17-20
17. Abel Company produces three versions of baseball bats: wood, aluminum, and hard rubber. A condensed segmented income statement for a recent period follows: Wood Aluminum Hard Rubber Total Sales Contribution margin Fixed expenses Net income (loss) S 65,000 $765,000 Variable expenses 325.000 140,000 000 23,000 242,000 22,000132,000 (15.000) S110.000 500,000 $200,000 175,000 75,000 35.000 60,000 7,000 S100,000$25.000 Assume none of the fixed expenses for the hard rubber line are avoidable. What will be total net income if the...
A bookstore can obtain an atlas from the publisher at a cost of $12 per copy and estimates that init sells the atlas forx dollars per copy, approximately 24(26 - x) copies will be sold each month. Express the bookstore's monthly profit from the sale of the atlas as a function of price, graph this function, and use the graph to estimate the optimal selling price. Part 1 out of 3 The bookstore's monthly profit as a function of price...
3. The East Company and the West Company are the only two firms that produce and sell a specialized type of machinery. The market demand curve for the machinery is as follows: P 25-0.0005 a In this equation, P is the price of the machinery in dollars and Q is the total amount demanded. The total cost function for the East Company is as follows: TCEast 4Q+0.001 Q?East In this equation, TCEast is total cost in dollars and QEast is...
A company Inc. finds that it costs $200 to produce each motorized scooter and that the forced costs are $1,000 per day yielding the cost function C(x) = 200x + 1,000 The price is given by p=600 - 5x, where p is the price in dollars at which exactly x scooters will be sold. Find the quantity of scooters that the company Inc. should produce and the price it should charge to maximize profit. Find the maximum profit How many...
Problem 3: Standard Cost Variances - 40 Points Rawlings Company produces a baseball called the Cutter. The company has recently established a standard cost system to help control costs and established the following standards for the Cutter baseball: Direct materials Direct labor 7 ounces per baseball at $0.33 per ounce 1.3 hours per baseball at $7.00 per hour During April, the company produced 5,300 Cutter baseballs. Actual production data for the month follow: Direct materials Direct labor 38,000 ounces were...
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