The short-run average total cost (ATC) curve of a firm will tend to be U-shaped because Group of answer choices larger firms always have lower per-unit costs than smaller firms. at low levels of output, AFC will be high, while at high levels of output, MC will be high as the result of diminishing returns. diminishing returns will be present when output is small, and high AFC will push per-unit cost to high levels when output is large. diseconomies of scale will be present at both small and large output rates.

Answers

Answer 1

Answer:

at low levels of output, AFC will be high, while at high levels of output, MC will be high as the result of diminishing returns.

Explanation:

In Economics, the law of diminishing marginal utility states that as the unit of a good or service consumed by an individual increases, the additional satisfaction he or she derives from consuming additional units would start decreasing or diminishing as the units of good or service consumed increases.

The short-run average total cost (ATC) curve of a firm will tend to be U-shaped because at low levels of output, average fixed cost (AFC) will be high, while at high levels of output, marginal cost (MC) will be high as the result of diminishing returns.

This ultimately implies that, the average fixed cost (AFC) will be high at small (low-level) output rates while marginal cost (MC) will be high at large (high-level) output rates due to diminishing marginal returns.

As a result of the law of diminishing marginal returns, a business firm would experience some rising per unit costs in the short-run.

In conclusion, an increase in the level of output for a business firm will eventually lead to an increase in average total cost (ATC) and marginal cost (MC) due to the law of diminishing marginal returns.


Related Questions

An abundance of utility-focused blogs exist, posting negative information about utilities in general and even about ABC Utility. Which of the following is NOT a wise response to control the negative blogs?

a. Repost the negative blogs that appear in other places, and argue against the content.
b. Create a company sponsored blog and post blogs with useful information.
c. Monitor the blogs to gather information about public perception.
d. Ask the CEO to frequently write a blog post regarding the values and vision of the organization.

Answers

Answer:

a

Explanation:

Blogs are a good medium that can be used by firms to disseminate information about their goods and services.

Blogs are also a good way to gather information about the perception of consumers to a company's goods and services

A company can make use of blogs to disseminate positive information about their goods and services by creating a company sponsored blog and post blogs with useful information. It would be and advantage if key personals in the firm frequently write a blog post about the firm e.g.  the values and vision of the organization.

Pontchartrain Company issues $20,000,000, 7.8%, 20-year bonds to yield 8% on January 1, 2017. Interest is paid on June 30 and December 31. The proceeds from the bonds are $19,604,145. The company uses effective-interest amortization. Interest expense reported on the 2017 income statement will total

Answers

Answer:

$1,568,498

Explanation:

First calculate the Amont of discount

Discount on the bond = Face value - Proceeds from the bond = $20,000,000 - $19,604,145 = $395,855  

Now prepare the bond amortization

The Bond Amortization schedule is attached with this answer, please find it.

Now calculate the interest expense for 2017

Interest Expense 2017 = $784,165.80  + $784,332.43

Interest Expense 2017 = $1,568,498.23

Interest Expense 2017 = $1,568,498

Your sister is thinking about starting a new business. The company would require $300,000 of assets, and it would be financed entirely with common stock. She will go forward only if she thinks the firm can provide a 13.5% return on the invested capital, which means that the firm must have an ROE of 13.5%. How much net income must be expected to warrant starting the business

Answers

Answer: $40,500

Explanation:

The company would be expected to make a net income of 13.5% of the amount invested in assets.

ROE = Net income / Equity

Net income = ROE * Equity

Assets are the same as equity in this scenario because the company is entirely funded by equity.

= 13.5% * 300,000

= $40,500

You are an employee of an U.S. firm that produces personal computers in Thailand and then exports them to the U.S. and other countries for sale. The personal computers were originally produced in Thailand to take advantage of relatively low labor costs and a skilled workforce. The U.S. government decides to impose punitive 100% ad valorem tariffs on imports of computers from Thailand to punish the country for administrative trade barriers that restrict U.S. exports to Thailand. How do you think your firm should respond

Answers

Answer:

Circumventing Punitive Tariffs on Imports

The firm should respond with some of these approaches:

1. Consider all low-cost countries with skilled workforce to relocate production facilities.

2. Export the computers to Canada from Thailand.

3. Reduce the price of the computers to make them attractive to the U.S. market.

4. Lobby the governments of Thailand to remove trade barriers with U.S.

5. Lobby the U.S. government to reconsider or reduce the ad valorem impunitive tariffs.

Explanation:

Firms have always circumvented trade barriers by using any of the above legal approaches, favoring it.  It is always beneficial to consider production destinations with low labor costs and the availability of skilled workforce when locating certain production centers.  The U.S. firm can take advantage of the economic climate of Hong Kong and Malaysia vis-a-vis Thailand for its production center.  The best decision should be driven by economic indexes and not political sentiments.

a. Sold merchandise for cash (cost of merchandise $28,797). $ 51,200 b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) for cash refund (original cost of merchandise $360). 600 c. Sold merchandise (costing $4,750) to a customer on account with terms n/60. 10,000 d. Collected half of the balance owed by the customer in (c). 5,000 e. Granted a partial allowance relating to credit sales the customer in (c) had not yet paid.

Answers

Answer:

I guess that you need the journal entries:

a.

Dr Cash 51,200

    Cr Sales revenue 51,200

Dr COGS 28,797

    Cr Inventory 28,797

b.

Dr Sales revenue 600

    Cr Cash 600

Dr Inventory 360

    Cr COGS 360

c.

Dr Accounts receivable 10,000

    Cr Sales revenue 10,000

Dr COGS 4,750

    Cr Inventory 4,750

d.

Dr Cash 5,000

    Cr Accounts receivable 5,000

e.

Dr Sales allowances

    Cr Accounts receivable

A researcher is asked to determine whether or not a productivity objective (in dollars) of better than $75,000 per employee is possible. A productivity test is done involving 20 employees. What conclusion would you reach

Answers

Answer:

Hence the null hypothesis is not rejected.

We conclude that productivity objective (in dollars) is not better than $75,000 per employee.

Explanation:

Single sample t-test ( upper tail test)

[tex]H_0: \mu = 75000\\H_1: \mu > 75000[/tex]

N=20

Mean =75500

Sd=18968.117

[tex]t = \frac { (\bar x - \mu)} {\frac {s} {\sqrt{n}}}\\\\t = \frac{(75500-75000)}{\frac{18968.117}{\sqrt{20}}}\\t=0.1179[/tex]

DF= 20-1=19

Table value of t at 0.05 level of significance =1.7291

Calculated t=0.1179 < table value 1.7291

The null hypothesis is not rejected

We conclude that productivity objective (in dollars) is not better than $75,000 per employee

The neoclassical view holds that long-term expansion of potential GDP due to _______________________ will determine ____________________. Group of answer choices

Answers

Answer:

economic growth; the size of the economy.

Explanation:

Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.

Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country. Also, Gross Domestic Products (GDP) is a measure of the production levels of any nation.

Basically, the four (4) major expenditure categories of GDP are consumption (C), investment (I), government purchases (G), and net exports (N).

The new classical theory also known as the neoclassical economic theory is one that repudiates and tends to restructure the John M. Keynes theory of macroeconomics, popularly referred to as the Keynesian Macroeconomics theory.

The new classical theory argues that efficient demand and supply is the most important feature or key behind the level of output, pricing, and consumption of goods and services by the people at a specific period of time in a country. Also, the new classical theory assumes that the wages of the employees in a country is flexible in contrast to the Keynesian macroeconomic theory.

The neoclassical view posits that long-term expansion of potential Gross Domestic Products (GDP) due to economic growth will significantly determine the size of a country's economy.

However, the economy cannot sustain production above its potential Gross Domestic Products (GDP) in the long run.

A distinguishing characteristic of the neoclassical view from other economic theory such as the Keynesian Macroeconomics theory, is flexibility of wages and prices over time.

Producer surplus directly measures a. the well-being of buyers and sellers. b. the well-being of society as a whole. c. the well-being of sellers. d. sellers' willingness to sell.

Answers

Answer:

c. the well-being of sellers.

Explanation:

A surplus is the amount by which the quantity supplied of a good exceeds the quantity demanded of the good.

Producer surplus is the amount a buyer is willing to pay for a good minus the cost of producing the good.

On the other hand, consumer surplus is the amount a buyer is willing to pay for a good minus the amount the buyer actually pays for it.

Hence, an export subsidy will increase producer surplus.

In conclusion, producer surplus directly measures the well-being of sellers.

MC Qu. 131 At Midland Company's break-even point... At Midland Company's break-even point of 9,000 units, fixed costs are $180,000 and variable costs are $540,000 in total. The unit sales price is:

Answers

Answer:

selling price per unit = $80

Explanation:

Giving the following information:

Company's break-even point of 9,000 units

Fixed costs are $180,000

Total variable costs= $540,000

First, we will calculate the unitary variable cost:

Unitary variable cost= 540,000 / 9,000

Unitary variable cost= $60

Now, the unitary selling price, using the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

9,000 = 180,000 / (selling price per unit - 60)

9,000selling price per unit - 540,000 = 180,000

9,000selling price per unit = 180,000 + 540,000

9,000selling price per unit = 720,000

selling price per unit = 720,000/9,000

selling price per unit = $80

Answer:

$80

Explanation:

The first step is to find the variable cost

= 540,000/9000

= 60

Therefore the unit sales price can be calculated as follows

= 180,000/90,000+60

= 20+60

= $80

Hence the unit sales price is $80

importance of settlement​

Answers

Answer:

The function of a settlement helps to identify the economic and social development of a place and can show its main activity. Most large settlements have more than one function though in the past one function was maybe the most important in defining the success and growth in importance of the settlement.

The function of a settlement helps to identify the economic and social development of a place and can show its main activity. Most large settlements have more than one function though in the past one function was maybe the most important in defining the success and growth in importance of the settlement.

Explanation:

The main functions of a settlement are:

Market town – where farmers will buy and sell their goods and materials

Mining town – where minerals and fuel might be extracted

Industrial town – where raw materials will be processed into manufactured products

Port – a place where goods can be imported and exported

Route centre – a place where several important roads/ transport links will meet

Service centre – a place that will provide for the main needs and services for people living in a particular area

Cultural/ Religious centre – a place that will welcome people from different places for learning or religious observance

Administrative centre – where government offices and departments will be located

Residential town – a place where people will live but will travel to work somewhere else

Tourist resort – where people visit to relax and enjoy themselves

When the macroeconomy is experiencing a higher than natural rate of unemployment, it must be because

Answers

Answer:

wages cannot adjust downward quickly and easily.

Explanation:

In a situation where the macroeconomy is experiencing a higher than the natural rate of unemployment, it must be because "wages cannot adjust downward quickly and easily."

Given that wages are arguably the most significant aspect to entice employees or people to work and get paid. Hence, where the wages are not enough to cause for the employees, there tends to be a situation where wages cannot adjust downward quickly and easily. And therefore, people would not want to work where there is low pay, and eventually, unemployment increases.

The number of people employed in one country is 230 million, with a total number of unemployed people at 40 million. The total population for the country is 500 million. What is the unemployment rate? Group of answer choices

Answers

Answer:

Unemployment rate = 14.81 %

Explanation:

Unemployment is defined as the number of people that are willing and able to work in an economy but that are not able to get employment.

If is used as a measure of the level of economic growth of a country.

Mathematically:

Unemployment rate = (Unemployed) ÷ (Economically active people) *100

Economically active people are employed plus unemployed.

That is 230 million + 40 million = 270 million

Therefore

Unemployment rate = (40/270) * 100

Unemployment rate = 14.81 %

Swifty Corporation has 46,500 shares of $13 par value common stock outstanding. It declares a 15% stock dividend on December 1 when the market price per share is $18. The dividend shares are issued on December 31. Prepare the entries for the declaration and issuance of the stock dividend. (

Answers

Answer:

Common stock dividend distributable = Par * Number of shares * % dividend

= 13 * 46,500 * 15%

= $90,675

Stock Dividend = Number of shares * market price * % dividend

= 46,500 * 18 * 15%

= $125,550

Date          Account Title                                                 Debit               Credit

Dec, 1        Stock Dividend                                          $125,550

                 Common Stock Dividend Distributable                            $90,675

                  Paid in Capital in excess of Par-                                       $34,875

                  Common stock

Date          Account Title                                                 Debit               Credit

Dec, 31      Common Stock Dividend Distributable     $90,675

                 Common Stock                                                                  $90,675

How do systems serve different management groups in a business and how do systems that link the enterprise improve organizational performance

Answers

Answer:

In simple words, Enterprise apps are created to bring together a variety of activities and procedures. To facilitate coordination and decision-making, enterprise systems combine a company's major internal business operations into an unified software platform . Supply chains administration software assists a company in managing its relationships with vendors in order to improve product planning, procurement, production, and supply of commodities. 

If a nail salon hires an additional worker, that worker can service 8 additional customers per day. The average nail service fee is $30. The most the salon would be willing to pay that groomer is

Answers

Answer:

Therefore, the salon will pay = $240

Explanation:

Below is the given values:

Service additional worker per day = 8 customers per day

Average fee = $30

The firm would like to pay the groomer up to the amount that is generated by them so the amount generated 30 x 8 = $240

Therefore, the salon will pay = $240

Materials cost per yard: standard, $1.90; actual, $2.04 Standard yards per unit: standard, 4.69 yards; actual, 5.03 yards Units of production: 9,400 Calculate the direct materials price variance. a.$1,316.00 unfavorable b.$6,619.48 unfavorable c.$6,619.48 favorable d.$6,172.04 favorable

Answers

Answer:

b.$6,619.48 unfavorable

Explanation:

Calculation to determine the direct materials price variance

First step is to calculate the Total number of actual quantity used

Total number of actual quantity used = 9400×5.03

Total number of actual quantity = 47,282

Now let determine the Material price variance

Using this formula

Material price variance = ( Standard price - Actual price ) × Actual quantity used

Let plug in the morning

Material price variance= ( $1.90 - $2.04 ) × 47,282

Material price variance=-0.14×47,282

Material price variance = -$6,619.48 unfavorable

Therefore the direct materials price variance is

-$6,619.48 unfavorable

1. Define equilibrium.​

Answers

Answer:

In chemistry:

Chemical equilibrium is defined as the condition in the course of a reversible chemical reaction in which no net change in the amounts of reactants and products occurs

In physics:

Equilibrium is defined as the condition of a system when neither its state of motion nor its internal energy state tends to change with time.

A simple mechanical body is said to be in equilibrium if it experiences neither linear acceleration nor angular acceleration; unless it is disturbed by an outside force, it will continue in that condition indefinitely.

EquilibriumExplanation :-

the condition of a system when neither its state of motion nor its internal energy state tends to change with time is called equilibrium.

Hope it is helpful to you

3.How does the theory of efficient production apply to managers of government bureaus or departments that are not run for profit

Answers

Answer:

The theory of efficient production applies to managers of government bureaus or departments that are not run for profit in the following way:

1. The theory helps them to ensure that production resources are optimally allocated to generate value.

2. The theory emphasizes that wastages must be minimized.

3. Efficiency also ensures that processes, policies, and programs are carried out at the right time on each occasion.

Explanation:

Government bureaus or departments require to make decisions about the resources that they require for government services and the value of the output of these services to the public.  The managers ensure that costs are not so much greater than the value created from deploying scarce resources. The best allocation of resources must always be decided to achieve value for money.

One advantage of countercultures is that they:_____.
a. ensure that corporate mergers occur without any culture clashes.
b. prevent organizations from developing a corporate culture.
c. maintain surveillance over and critically review the company's dominant culture.
d. rarely exist in real organizations.

Answers

Answer:

c. maintain surveillance over and critically review the company's dominant culture.

Explanation:

Counterculture is a sociopolitical term that represent the dissent point lies between the dominant and alternative value system in order to develop the collective voice for considering the minority

Also the employees who have the counter culture belief so it shows the goods source for checking out over and above to the dominant one

Therefore the option c is correct

Ông Nguyễn Văn Thịnh, hiện là hiệu trưởng Trường THPT Nguyễn Gia Thiều, TP Hồ Chí Minh. Ông Thịnh có số tiền 500 triệu đồng, ông Thịnh đem đi đầu tư vào công ty cổ phần Thịnh Long Phát. Với phần vốn góp này ông Thịnh được bầu vào HĐQT và giữ chức Chủ tịch HĐQT. Theo anh chị: Ông Thịnh có được đầu tư vào công ty Thịnh Long Phát không. Vì sao? Việc giữ chức danh Chủ tịch HĐQT của công ty là đúng hay sai. Vì sao?

Answers

Answer:

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Explanation:

anchijdcnhcnUIcfuidshcnld cdusiahnc

Correll Company, which operates a mail-order clothing business, is physically located in State L. This year, the firm shipped $18 million of merchandise to customers in State R. State R imposes a 6 percent sales and use tax on the purchase and consumption of retail goods within the state.

Required:
a. Do State R residents who purchased Firm L merchandise owe use tax on their purchases?
b. If State R could legally require Firm L to collect a 6 percent tax on mail-order sales made to residents of the state, how much additional revenue would the state collect? Explain the reasoning behind your answer.

Answers

Answer:

Correll Company

a. Yes State R residents who purchased Firm L (out-of-state) merchandise owe use tax on their purchases.

b. State R would collect $1,080,000 additional revenue ($18 million * 6%) if Correll was required to collect the use tax at the point of sale and then remit the tax collected to State R.

Explanation:

a) Data and Calculations:

Cost of merchandise to customers in State R = $18 million

State R's sales and use tax on the purchase and consumption of retail goods within the state = 6%

Amount that Correll could collect for State R = $1,080,000 ($18 million * 6%)

b) Note that Correll (Firm L) collecting the State R use tax does not affect State R residents' legal liability to pay the use tax.  Unfortunately, not many people actually remit their self-assessed use tax.

You want to have $5 million in real dollars in an account when you retire in 20 years.
The nominal return on your investment is 10 percent and the inflation rate is 3 percent.
What is the real amount you must deposit each year to achieve your goal?

Answers

Answer:

The real amount that you must deposit each year to achieve your goal is:

= $54,662.78.

Explanation:

a) Data and Calculations:

Required amount in real dollars = $5 million

Nominal return on investment = 10%

Inflation rate = 3%

Real return on investment = 13% (10 + 3)

From an online financial calculator:

N (# of periods)  20

I/Y (Interest per year)  13

PV (Present Value)  0

FV (Future Value)  5000000

Results

PMT = $54,662.78

Sum of all periodic payments $1,093,255.61

Total Interest $3,906,744.3

MC Qu. 96 K Company estimates that overhead costs... K Company estimates that overhead costs for the next year will be $3,700,000 for indirect labor and $960,000 for factory utilities. The company uses direct labor hours as its overhead allocation base. Of 125,000 direct labor hours are planned for this next year, what is the company's plantwide overhead rate

Answers

Answer:

37.28

Explanation:

Calculation to determine the company's plantwide overhead rate

Plantwide overhead rate = (3,700,000+960000)/125000

Plantwide overhead rate =4,660,000/125,000

Plantwide overhead rate = 37.28

Therefore the company's plantwide overhead rate is 37.28

Nieto Company’s budgeted sales and direct materials purchases are as follows.
Budgeted Sales Budgeted D.M. Purchases
January $250,600 $32,200
February 238,100 45,300
March 299,600 38,300
Nieto’s sales are 30% cash and 70% credit. Credit sales are collected 10% in the month of sale, 50% in the month following sale, and 36% in the second month following sale; 4% are uncollectible. Nieto’s purchases are 50% cash and 50% on account. Purchases on account are paid 40% in the month of purchase, and 60% in the month following purchase.
A) Prepare a schedule of expected collections from customers for March
B) Prepare a schedule of expected payments for direct materials for March.

Answers

Answer:

Nieto Company

A) Schedule of expected collections for March:

30% Cash Sales                     $89,880

Credit Sales                          $167,307

Total collections for March $257,187          

B) Schedule of expected payments for direct materials for March:

40% month of purchase     $15,320

60% ffg month                    $27,180

Total expected payments $42,500

Explanation:

a) Data and Calculations:

                                            January    February     March      Total

Budgeted sales                 $250,000  $238,100  $299,600

Cash collections:

30% Cash                            $75,000     $71,430     $89,880

70% Credit                         $175,000  $166,670   $209,720

Cash collections from credit sales:

Month of sale, 10%              $17,500    $16,667     $20,972

Following month, 50%                           87,500       83,335

Second month, 36%                                                 63,000

Total collections for March (credit sales)             $167,307

Budgeted D.M. Purchases $32,200   $45,300     $38,300

Cash payments:

40% purchase month         $12,880     $18,120      $15,320

60% ffg month                                      $19,320     $27,180

Total payments                  $12,880     $37,440    $42,500

Selected sales and operating data for three divisions of different structural engineering firms aregiven as follows: Division A Division B Division C Sales $ 6,900,000 10,900,000 10,000,000 Average operating assets 1,725,000 5,450,000 2,500,000 Net operating income 414,000 1,090,000 325,000 Minimum required rate of return19.00 % 20.00 % 16.00 % A. Compute the return on investment (ROI) for each division using the formula stated in terms of margin and turnover. B. Compute the residual income (loss) for each division.

Answers

Answer and Explanation:

The computation is shown below:

A.

Return on investment = Margin × Turnover

Now

= (Net operating income ÷Sales) × (Sales ÷ Average operating assets)

Division A = ($414,000 ÷ $6,900,000) × ($6,900,000 ÷ $1,725,000)

= 6% × 4

= 24.00%

Division B = ($1,090,000 ÷ $10,900,000) × ($10,900,000 ÷ $5,450,000)

= 10% × 2

= 20.00%

Division C = ($325,000 ÷ $10,000,000) × ($10,000,000 ÷ $2,500,000)

= 3.25 × 4

= 13.00%

B.  

Residual Income = Net operating income - (Minimum required rate of return × Average operating assets)

Division A = $414,000 - (19% × $1,725,000)

= $414,000 - $327,750

= $86,250

Division B = $1,090,000 - (20% × $5,450,000)

= $1,090,000 - $1,090,000

= $0

Division C = $325,000 - (16% × $2,500,000)

= $325,000 - $400,000

= ($75,000)

Maria is an employee at Lyric Inc. Her colleagues describe her as friendly and gregarious. She is a good team player and is always willing to help others. She also likes socializing with her colleagues outside of work. In the context of David McClelland's three needs theory, Maria is most likely driven by a need for _____.

Answers

Answer:

affiliation

Explanation:

An employee can be defined as an individual who is employed by an employer of labor to perform specific tasks, duties or functions in an organization.

In this scenario, Maria is an employee at Lyric Inc. and she's described by her colleagues as being friendly and gregarious (sociable or welcoming). Also, Maria is a good team player who is always willing to help her team members and she likes socializing with her colleagues outside of work.

David Clarence McClelland was an American psychologist who was born on the 20th of May, 1917 in New York, United States of America and he died on the 27th of March, 1998 in Massachusetts, United States of America. David was famously known for his work "McClelland Theory of Motivation" in his book (1961) titled "The Achieving Society" where he talked about people's need for achievement and identified the three (3) motivators by all humans;

I. Need for power (N-Pow).

II. Need for achievement (N-Ach).

III. Need for affiliation (N-Affil).

The aforementioned driving motivators are not inherently possessed but instead are developed through human culture and individual life experiences.

Hence, the performance, effectiveness and motivation of an employee working in an organization is influenced by the three needs theory.

An employee with a high need for affiliation (N-Affil) requires having a harmonious relationship with his or her colleagues, a significant personal relationship, cooperative work environment and need to feel accepted by their colleagues.

In the context of David McClelland's three needs theory, Maria is most likely driven by a need for affiliation.

__________ consist(s) of right and wrong and the morality of choices.

a.)
Ethical decisions

b.)
Consequences

c.)
Business culture

d.)
Ethics

Answers

Answer:

d.) Ethics are the standard of what is right and wrong, and they are based on our values. Being ethical requires a moral judgement, and that's not always easy. Ethical behavior takes courage and has to be practiced.

The correct option is D. Ethics consist of right and wrong and the morality of choices. Ethics are built on our values and serve as the benchmark for what is good and wrong. Making a moral decision is a requirement of ethics, yet it's not always simple.

What are ethics and values?

Values are essential and fundamental ideas that direct or inspire behaviors. They assist us in deciding what matters to us. Human acts and the decisions made in making those actions are the subject of ethics. Ethics assesses those deeds as well as the underlying principles.

Ethics, according to Richard William Paul and Linda Elder, is "a set of concepts and rules that help us decide whether action helps or damages sentient animals." In terms of rights, obligations, advantages to society, justice, or particular virtues, ethics refers to established rules of right and wrong that specify what people should do.

Learn more about Ethics here:

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Which of the following is an example of a functional structure? Multiple Choice Fred owns a diner and has three employees. Borrowit Lending has a business division and a consumer division. Shelter Semiconductors has offices in Berlin, Tokyo, Chicago, and London. Leopard Industries has a plastics group, an electronics group, and a transportation group. At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.

Answers

Answer: At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.

Explanation:

Functional structures refer to the grouping of company departments based on what the labor involved do for the company i.e. their functional expertise.

Mark's company is therefore using a functional structure because it groups its workforce by their functional expertise with carpenters in one group and upholsters in another.

Most companies follow this strategy which is why companies have departments such as accounting, human resources, marketing and production.

If there are external benefits associated with the consumption of a good or service, Group of answer choices the market demand curve will be the vertical summation of the individual demand curves. consumers are paying for all these benefits. the market demand curve will underestimate the social demand curve. the market demand curve will overestimate the true demand curve.

Answers

Answer: the market demand curve will underestimate the social demand curve.

Explanation:

The good or service in question, having an external benefit means that it benefits third parties as well as those who actually bought the good or service. This means that it has a higher social benefit than other goods.

The market demand curve would not cater for the demand for this good adequately because it would only adjust for the private benefits. The social demand curve on the other hand, would be adjusted for the external benefits to show that more people want this good or service.

The market demand would therefore underestimate the social demand curve because it would not adjust for the extra demand that comes with the external benefits.

Ice Cream Corporation uses the weighted-average method in its process costing system. Data concerning the first processing department for the most recent month are listed below: Beginning work in process inventory: Units in beginning work in process inventory 2,400 Materials costs $ 14,500 Conversion costs $ 6,600 Percent complete with respect to materials 75 % Percent complete with respect to conversion 20 % Units started into production during the month 11,100 Units completed and transferred to the next department during the month 10,000 Materials costs added during the month $ 173,600 Conversion costs added during the month $ 243,600 Ending work in process inventory: Units in ending work in process inventory 3,500 Percent complete with respect to materials 90 % Percent complete with respect to conversion 30 % The cost per equivalent unit for materials for the month in the first processing department is closest to:

Answers

Answer:

Ice Cream Corporation

The cost per equivalent unit for materials for the month in the first processing department is closest to:

= $14.30.

Explanation:

a) Data and Calculations:

                                                  Units       Materials        Conversion

Beginning work in process     2,400      $ 14,500           $ 6,600

Percentage of completion

Beginning work in process                        75%                   20%

Started into production          11,100

Units in production               13,500

Completed and transferred 10,000

Ending work in process         3,500         90%                  30%

Costs added during the month             $173,600       $243,600

Total costs of production

Beginning work in process          $ 14,500           $ 6,600

Costs added during the month    173,600          243,600

Total costs of production            $188,100        $250,200

Equivalent units of production:

Completed and transferred 10,000   10,000 (100%)   10,000 (100%)

Ending work in process         3,500     3,150 (90%)       1,050 (30%)

Equivalent units of production            13,150                11,050

Cost per equivalent unit:

Total costs of production            $188,100        $250,200

Equivalent units of production        13,150              11,050

Cost per equivalent unit                 $14.30            $22.64

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