Final Exam

If accounting profits are $6000 and explicit cost are $2200 Calculate total revenue

1 If a firm buys a specialized metal stamping machine that will last 4 years for $125,000 and cannot resell it, the sunk cost is $0 $31,250 $125,000 $93,750 2 Variable costs are a production expense that does not vary with output. a production expense that changes with the quantity of output produced. equal to total cost divided by the units of output produced. the amount by which a firm's cost changes if the firm produces one more unit of output. 3 Suppose the total cost of producing T-shirts can be represented as TC 50 + 2q. The marginal cost of the 5th T-shirt is 10 12 60 4 A firm's cost curve is determined by congressional laws. whether the firm hires engineers or not. natural laws. the firm's production function. 5 Isocost lines represent the combinations of inputs that have the same marginal cost. represent the combinations of inputs that have the same total cost. are the inverse of the isoquant lines. represent supply and demand for inputs at a given cost. 6 A cost function has…

Problem1: A summer camp for youngsters has the following data: Charge per camper (selling price) Fixed costs $144 $4800 Variable cost per camper Capacity 1. Write the total revenue equation. 2. Write the total cost equation. 3. Determine the breakeven point in units. 4. Calculate the breakeven point in dollars. 5. If fixed costs decrease 10%, what is the new breakeven point in units and in dollars? 6. What is the profit or loss of the session if the camp operates at 80% capacity? Problem 2: A company is considering a capital cost of $80000 to acquire new machinery. The expected annual revenue is $45000. After 6 years its salvage value will be $15000. An overhaul costing $10000 will be needed in year 3. The operation and maintenance cost (O&M) will be $5000 per year. Complete the corresponding table and cashflow diagram below. a. Cash flow table Year 0 1 2 3 4 5 6 $96 200 campers Capital Cost Annual Revenue b. Cash flow diagram O&M Overhaul Salvage Cost

Lin Corporation has a single product whose selling price is $135 per unit and whose variable expense is $81 per unit. The company's monthly fixed expense is $23,700. Required: 1. Calculate the unit sales needed to attain a target profit of $6,000. (Do not round intermediate calculations.) 2. Calculate the dollar sales needed to attain a target profit of $9,300. (Round your intermediate calculations to the nearest whole number.) 1. Units sales to attain target profit 550| units 2. Dollar sales to attain target profit

If explicit cost equals to $40000 and implicit cost  $ 95,000 and the accounting profit is $23,000 what is the  revenue and the economic profit

Assume you were hired as a Production Engineer in a global Bearing Manufacturer company and given the following inputs: Equipment Maintenance Cost per Month Utilities Cost per Month Material Cost per Unit Labor Cost per Unit Selling Price per Unit S60,000.00 $12,000.00 $12.00 $3.00 $24.00 Calculate Total Fixed Cost per Month = Calculate Total Variable Cost per Unit = Calculate number of Units to be sold to reach Break-Even Point = Calculate number of Units that must be sold to eam profit of $90,000.00 =

number 8 is already solved. I just need help with 9 and 10

A-3

1. Determine the variable cost per unit and the fixed cost using the high-low method.2. What is the equation of the total mixed cost function?3. Prepare the scatter diagram, clearly showing any outliers.4. Using the line of best-fit, determine the company’s fixed cost per month and the variable cost per unit. (Use 0 & 5,000 units.)5. In view of the department’s cost behaviour pattern, which of the two methods appear more appropriate? Explain your answer.

Martinez Company's relevant range of production is 7,500 units to 12,500 units. The unit costs when it produces and sells 10,000 units are provided in the table. If 12,500 units are sold, what is the variable cost per unit sold?   Amount per unit ($) Direct materials 6.00 Direct Labor 3.50 Variable manufacturing overhead 1.50 Fixed manufacturing overhead 4.00 Fixed selling expense 3.00 Fixed administrative expense 2.00 Sales commissions 1.00 Variable adminsitrative expense 0.50

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1. A company in the process industry produces a chemical compound that is sold to manufacturers for use in the production of certain plastic products. The plant that produces the compound employ approximately 300 people. (12 pts) Develop a list of six different cost elements that would be fixed and a similar list of six cost elements that would be variable. FIXED COSTS VARIABLES COSTS 1. 2. 1. 3. 3. 4. 4. 5. 5. 6. 6. 2/345n6

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QUESTION 42   To open a business in Ottawa, Uros needed to move his things from Toronto. Renting a truck costs him $120. An accountant would not include these moving expenses as an explicit or obvious cost.   True   False

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Complete the following table by calculating the contribution to profit and overhead for each of the 10 time periods and prices. Time Period Price Quantity Sold Total Contribution ($) (Million) ($ Million) 1 2,400 0.2   2 2,200 0.2   3 2,000 0.2   4 1,800 0.2   5 1,700 0.2   6 1,600 0.2   7 1,500 0.2   8 1,400 0.2   9 1,300 0.2   10 1,200 0.2     Over the 10 periods, the total contribution to profits and fixed costs from price skimming is    million.

Question a Full explain this question and text typing work only     We should answer our question within 2 hours takes more time then we will reduce Rating Dont ignore this line .

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Total Fixed Total Variable Labor Output (workers) (units per day) (dollars) Cost Cost (dollars) 20 20 20 20 20 20 25 50 75 100 125 2 19 13 4. 16 1S

Output quantity Total variable cost Total cost 0 $0 $250 25   450 50 300 X 75 375   100 600 850 125 X 1125 150 1200 X 175   1875 200 2000 2250

Answer the question on the basis of the following cost data.   Output Total Cost 0 $ 24 1 33 2 41 3 48 4 54 5 61 6 69   The average variable cost of producing 6 units of output is Multiple Choice $7.50. $45. $11.50. $4.00. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

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s) A Company uses normal costing. It allocates manufacturing overhead costs using a budgeted rate per machine-hour. The following data are available for 2014: Budgeted manufacturing overhead costs Budgeted machine-hours Actual manufacturing overhead costs Actual machine-hours $ 5,200,000 200,000 $ 5,000,000 180,000 a. Calculate the budgeted manufacturing overhead rate. b. Calculate the manufacturing overhead allocated during 2014. c. Calculate the amount of under- or overallocated manufacturing overhead.

ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above