Process costing typically uses only one Work in Process Inventory account, while job order costing typically uses a separate Work in Process Inventory account for each department.
a. True
b. False

Answers

Answer 1

Answer:

False.

Explanation:

Process costing typically uses only one Work in Process Inventory account, while job order costing typically uses a separate Work in Process Inventory account for each department. This is simply a false statement.

Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.

Job order costing can be defined as a cost accounting method used to determine and accumulation of the cost of manufacturing each product or a single unit of production. Job costing order typically uses only one Work in Process Inventory account for each product.

In conclusion, Process costing typically uses a separate Work in Process Inventory account for each department while job order costing typically uses only one Work in Process Inventory account for each product.


Related Questions

2. The current price of a stock is $50. In 1 year, the price will be either $65 or $35. The annual risk-free rate is 10%. Find the price of a call option on the stock that has an exercise price of $55 and that expires in 1 year. (Hint: Use daily compounding.)

Answers

The awnser is 4$ I am pretty sure

Consider the following information for Maynor Company, which uses a periodic inventory system:
Transaction Units Unit Cost Total Cost
January 1 Beginning
Inventory 29 $ 79 $ 2,291
March 28 Purchase 39 85 3,315
August 22 Purchase 58 89 5,162
October 14 Purchase 63 95 5,985
Goods Available for Sale 189 $ 16,753
The company sold 63 units on May 1 and 58 units on October 28.
Required:
Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. (Round the per unit cost to two decimal places and then round your answer to the nearest whole dollar.)
a. FIFO:
b. LIFO:
c. Weighted Average

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

January 1 Beginning Inventory 29 $79 $2,291

March 28 Purchase 39 $85 3,315

August 22 Purchase 58 $89 5,162

October 14 Purchase 63 $95 5,985

The company sold 63 units on May 1 and 58 units on October 28.

First, we need to calculate the units in ending inventory:

Ending inventory in units= 189 - 121= 68

To calculate the ending inventory under the FIFO (first-in, first-out) method, we need to use the cost of the last units incorporated into inventory.

Ending inventory= 63*95 + 5*89= $6,430

COGS= 29*79 + 39*85 + 53*89= $10,323

To calculate the ending inventory under the LIFO (last-in, first-out) method, we need to use the cost of the first units incorporated into the inventory

Ending inventory= 29*79 + 39*85= $5,606

COGS= 63*95 + 58*89= $11,147

Finally, to calculate the ending inventory using the weighted-average, we need to calculate the weighted average price:

weighted average price= 16,753/189= $88.64

Ending inventory= 68*88.64= $6,027.52

COGS= 121*88.64= $10,725.44

You experiment by offering free warranties for your product in market A but not in market B. Sales in A rise from 240 to 360 units per week while sales in B rise from 410 to 430. The Difference-in-difference estimate of the effect of the free warranty is:

Answers

Answer:

Difference in difference estimate = 50 - 5% = 45 %

Explanation:

a) Data and Calculations:

                           Market A          Market B

Sales                       240                   410

Sales rise                360                   430

Rise difference       120                     20

Percentage of rise  50%                    5%

120/240 x 100 = 50%

20/41 x 100 = 4.878% or 5%

Therefore, the Difference in difference estimate = 50 - 5% = 45 %

One can then say that the free warranties in market A brought about a difference in difference of 45% in Market A when compared to the no warranties in Market B.  This can be seen from the presented data.  Sales in A rose from 240 units to 360 units, an increase of 120 units or 50%.  Sales in market B only rose from 410 to 430, an increase of 20 units or 5%.  This difference in difference estimator shows the effect of the free warranty on market A and market B.  This means that the firm could do better by introducing the free warranties for its product in market B, all things being equal.

According to Debra, the vice president of Theo Chocolate, one of the results of offering simpler products is that people are:

Answers

Answer:

c. less interested in paying a premium for fair trade

Explanation:

Indeed, in this case, according to Debra, who serves as the vice president of Theo Chocolate, one of the results of offering simpler products is that people find it less interesting to pay a premium for fair trade.

Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (7,100 units) $ 227,200 $ 32.00 Variable expenses 134,900 19.00 Contribution margin 92,300 $ 13.00 Fixed expenses 54,800 Net operating income $ 37,500 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 80 units? 2. What would be the revised net operating income per month if the sales volume decreases by 80 units? 3. What would be the revised net operating income per month if the sales volume is 6,100 units?

Answers

Answer:

1. $38,540

2. $37,500

3. $24,500

Explanation:

1. The computation of revised net operating income per month if the sales volume increases by 80 units is shown below:-

Net operating income = Sales - Variable expenses - Fixed expenses

= (71,80 × $32) - (7,180 × $19) - $54,800

= $229,760 - $136,420 - $54,800

= $38,540

2. The computation of revised net operating income per month if the sales volume decreases by 80 units is shown below:-

Net operating income = Sales - Variable expenses - Fixed expenses

= (71,00 × $32) - (7,100 × $19) - $54,800

= $227,200 - $134,900 - $54,800

= $37,500

3. The computation of revised net operating income per month if the sales volume is 6,100 units is shown below:-

Net operating income = Sales - Variable expenses - Fixed expenses

= (61,00 × $32) - (6,100 × $19) - $54,800

= $195,200 - $115,900 - $54,800

= $24,500

A company has net working capital of $2,204, current assets of $6,475, equity of $22,215, and long-term debt of $10,535. What is the company's net fixed assets?

Answers

Answer:

Net fixed assets is $30546.

Explanation:

Given the net working capital = $2204

The current assets of the company = $6475

The equity of the company = $22215

Long term debt of the company = $10535

Net Working Capital = Current Assets – Current Liabilities

2204 = 6475 – current liabilities

Current liabilities  = 6475 – 2204 = 4271

Total assets = Current Liabilities + Long term Debt + Total Equity

= 4271 + 10535 + 22215

= $37021

Total Liabilities and Stockholders Equity = Total Assets

Total assets = $37021

Total Assets = Current Assets + Net Fixed Assets

37021 = 6475 + net fixed assets

Net fixed assets = 37021 – 6475 = $30546

Jack uses his personal vehicle in his sole proprietorship. He keeps no records of any kind regarding his business use of the car and doesn't really know for certain when and where he used the automobile for business. Jack will not be claiming the EITC this year. Which of the following is correct?

Answers

Answer:

To comply with due diligence, every effort should be made to reconstruct Jack's vehicle expenses. If the records cannot be reconstructed then Casey should not claim the EITC this year.

Explanation:

Earned Income Tax credit (EITC) is a refundable tax that is returned to small to medium income earners. It can either reduce your tax of you will get a refund.

Sole proprietors often use their personal vehicles for business purposes. The expense for this is tax deductible. Deduction can be based on true cost of expenses like gasoline bought, or by standard mileage rate.

Vehicle use for personal purposes is not tax deductible.

In this scenario Jack has no records of his vehicle use for business and personal running. There is a need to seperate his use of the vehicle for business purposes.

Every effort should be made to reconstruct Jack's vehicle expenses. If the records cannot be reconstructed then Casey should not claim the EITC this year.

Mercedes, Co. has the following quarterly financial information. 4th Quarter 3rd Quarter 2nd Quarter 1st Quarter Sales revenue $ 913,800 $ 923,300 $ 921,600 $ 929,400 Cost of goods sold 305,100 317,700 317,300 322,500 Operating expenses 248,300 259,700 257,900 262,000 Interest expense 3,900 3,900 3,900 3,800 Income tax expense 84,900 87,800 87,800 90,300 Average number of common shares outstanding 796,030 791,064 792,670 806,000 Stock price when Q4 EPS released $ 24 a. Calculate the gross profit percentage for each quarter. (Do not round your intermediate calculations and round your final answer to 2 decimal places.)

Answers

Answer:

Mercedes, Co.

Gross profit percentage for each quarter:

= Gross profit / Sales x 100

                                4th Quarter    3rd Quarter   2nd Quarter  1st Quarter

Gross profit             $ 608,700       $ 605,600     $ 604,300    $ 606,900

Sales revenue         $ 913,800       $ 923,300      $ 921,600    $ 929,400

Gross profit $            66.61%             65.59%           65.57%        65.30%

Explanation:

a) Data and Calculations:

                                 4th Quarter    3rd Quarter   2nd Quarter  1st Quarter

Sales revenue          $ 913,800       $ 923,300      $ 921,600    $ 929,400

Cost of goods sold     305,100            317,700          317,300       322,500

Gross profit             $ 608,700       $ 605,600     $ 604,300    $ 606,900

Operating expenses 248,300           259,700         257,900      262,000 Interest expense           3,900                3,900              3,900          3,800

Income tax expense   84,900              87,800             87,800       90,300

Average number of common

 shares outstanding 796,030            791,064          792,670     806,000

b) The Gross profit percentage of Mercedes, Co for each quarter is calculated as the gross profit divided by sales revenue, and then multiplied by 100.  To obtain the gross profit, the cost of goods sold is deducted from the sales revenue.  The gross profit represents a financial measure that shows the performance of management in controlling the cost of goods sold in comparison with the sales revenue.  It is from the gross profit that operating expenses, interests, and taxes will be offset to arrive at the net income.

A real estate broker agrees to manage a property for its owner, but only on the condition that when the owner decides to sell, he must list the property with the broker. This would be a violation of the:

Answers

Answer:

Sherman Antitrust Act of 1890

Explanation:

In this specific scenario, the real estate broker would be in violation of the Sherman Antitrust Act of 1890. This is a federal statute that prohibits activities that restrict interstate commerce and competition in the marketplace. Therefore, by telling the owner that he must list the property with his broker, the agent is preventing the other competitors from having a fair shot at obtaining the listing, making this a violation.

A person presently owes $5,000 on a credit card bill. As a penalty, he/she has to pay a uniform amount of $700 per month for a year. The rate of return per month that the credit card company make in a year is closest to: g

Answers

Answer:

The company get $283.33 return per month

Explanation:

Given that the person is to pay $700 per month for one year

Hence after one year elapse he will pay a total of

$700*12= $8,400

The returns the credit card company will get after one year is

yearly return= $8,400-$5,000= $3,400.

The rate of return per month= $3,400/12= $283.33.

Unrealized holding gains and losses on debt securities classified as available-for-sale would have the following effects on accumulated other comprehensive income: Gains Losses a. Increase Increase b. Decrease Decrease c. Decrease Increase d. Increase Decrease

Answers

Answer: d. Increase Decrease

Explanation:

Available - For - Sale securities are accounted for in the Equity section of the balance sheet under Other Comprehensive income (OCI). As the gains cannot be realised until the security is sold, it is accounted for here to show an increase or a decrease in value. When the security gains in value over what it cost, this will increase OCI and when it losses value below what it cost, this will reduce the OCI.

What is the proper preparation sequencing of the following budgets? 1. Budgeted Balance Sheet 2. Sales Budget 3. Selling and Administrative Budget 4. Budgeted Income Statement

Answers

Answer:

1. Sales Budget

2. Selling and Administrative Budget

3. Budgeted Income Statement

4. Budgeted Balance Sheet

Explanation:

First of all the sales budget is prepared in which expected sales are shown and then the selling and administrative budget is prepared which shows expenses related to sale.

The income statement budget is prepared which shows the expected income.

Then at last  Budgeted Balance Sheet  is prepared in which the expected income is transferred.

The order in which they appear is as follows.

1. Sales Budget

2. Selling and Administrative Budget

3. Budgeted Income Statement

4. Budgeted Balance Sheet

The proper preparation sequencing of the budgets includes the Sales Budget, Selling and Administrative Budget, Budgeted Income Statement, and Budgeted Balance Sheet respectively.

 

The preparation of budgeted statement by business helps them to know how to expend funds in the future and plan for changes as well.

The proper preparation sequencing of the budgets includes:

Sales budget which are prepared to estimate the sales and revenue expected for the period

The Selling and administrative budget is prepared estimate the cost of operation

The Budgeted Income Statement is prepared like the Conventional Income statement.

The Budgeted Balance Sheet is prepared like the Conventional Balance sheet.

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You have a portfolio worth $63,500 that has an expected return of 13.3 percent. The portfolio has $16,900 invested in Stock O, $24,700 invested in Stock P, with the remainder in Stock Q. The expected return on Stock O is 18.1 percent and the expected return on Stock P is 11.3 percent. What is the expected return on Stock Q

Answers

Answer:

Return on Stock Q is 11.85%

Explanation:

Investment in Q = ($63,500 - $16,900 - $24700)

Investment in Q =21900

Portfolio return = Respective return * Respective investment weight

13.3= (16900 / 63500 * 18.1%) + ( $24,700 / $63,500 * 11.3% ) + ( $21900 / $63,500 * Return on Q)

13.3 =  4.817165354 + 4.39533071% + (21900 / 63500*Return on Q)

13.3 = 9.21259843% + (21900 / 63500*Return on Q)

Return on Q = (13.3% -9.21259843%) *63500/21900

Return on Q = (4.08740157 * 2.899543379)

Return on Q = 11.85159816%

Return on Q =11.85%

Speedy Auto Repairs uses a job-order costing system. The company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. Speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room.
The company applies all of its overhead costs to jobs based on direct labor-hours. At the beginning of the year, it made the following estimates:
Direct labor-hours required to support estimated output 20,000
Fixed overhead cost $ 350,000
Variable overhead cost per direct labor-hour $ 1.00
Required:
1. Compute the predetermined overhead rate.
2. During the year, Mr. Wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. The following information was available with respect to his job:
Direct materials $ 590
Direct labor cost $ 109
Direct labor-hours used 6
Compute Mr. Wilkes’ total job cost.
3. If Speedy establishes its selling prices using a markup percentage of 40% of its total job cost, then how much would it have charged Mr. Wilkes?

Answers

Answer:

Instructions are below.

Explanation:

Giving the following information:

Direct labor-hours required to support estimated output 20,000

Fixed overhead cost $ 350,000

Variable overhead cost per direct labor-hour $ 1.00

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= (350,000/20,000) + 1

Predetermined manufacturing overhead rate= $18.5 per direct labor hour

Job:

Direct materials $ 590

Direct labor cost $ 109

Direct labor-hours used 6

Total cost= 590 + 109 + 6*18.5

Total cost= $810

Finally, the selling price:

Selling price= 810*1.4= $1,134

A firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55. In the long run, the firm should

Answers

firm sells 300,000 units per week. It charges $ 35 per unit, the average variable costs are $40, and the average costs are $55. In the long run, the firm should a. Shut-down as the firm is making a loss of $15 million per week b. Shut-down as the firm cannot cover the variable costs c. Shut down because the price is lower tha average cost d. None of the above

intext:"The adjusting entry at the end of an accounting period to record the unpaid salaries of employees for work provided is"

Answers

Answer:

A debit to Salaries Expense and a credit to the Salaries Payable Account.

Explanation:

This adjusting entry brings the salary expense account to its accrued balance in line with the accrual concept and matching principle of generally accepted accounting principles.  These state that expenses and revenues should not reflect only the cash basis but the accrual basis, whereby unpaid or prepaid expenses, deferred or unpaid revenues that relate to the accounting period are brought into consideration.

You have just made your first $5,000 contribution to your individual retirement account. Assume you earn an annual return of 10.65 percent and make no additional contributions.

Required:
a. What will your account be worth when you retire in 42 years?
b. What if you wait 10 years before contributing?

Answers

Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment= $5,000

i= 10.65%

To determine future value, we need to use the following formula:

FV= PV(1+i)^n

For 42 years:

FV= 5,000*(1.1065^42)

FV= $350,695

Now, for 32 years:

FV= 5,000*(1.1065^32)

FV= $127,472.17

Assume a budget constraint is given by 10 = x + y For each of the following utility function calculate the utility maximizing x and y and the resulting level of utility.
(a) U x/y
(b) U In(x) + In(y)
(c) U 2x2y

Answers

Answer:

A) y = 0 , x = 10

B) x = 5 = y

c) x = 6.667, y = 3.333

Explanation:

Budget constraint = x + y  = 10

calculate the utility maximizing x and y and the resulting level of utility

attached is the detailed solution

1. Do you think that punishments deter crime? Why or why not? Do you think there is a better way to reduce crime than punishment?

Answers

Explanation:

In my honest opinion i don not think punishment deter crime, but it does to a great extent reduce the rate of crime, if actually punishment deter crime, then there will not be offenders anymore.

Another possible way to reduce crime than punishment is to place a fine for offender to pay and also place offenders on community service, in this way offenders get to move freely in the society while they get to pay a huge sum for the offence they have committed

Answer:

I really believe that punishments reduce crime, if someone has done something wrong they have to be punished because, if not, how are they going to know that what they have done is wrong? So, in this way, some criminals stop committing crimes because they see that what they have done is not good and has consequences.

Punishment is known to be a bad stimulus to reduce crime; instead, education has been much more effective, because in this way criminals learn what they can do to improve their lives.

Explanation:

The bond has a coupon rate of 6.23 percent, it makes semiannual payments, and there are 4 months to the next coupon payment. A clean price of $989 and the par value is $1,000. What is the invoice price?

Answers

Answer:

Invoice price = $999.38

Explanation:

DATA

coupon rate = 6.23%

clean price = $989

par value = $1,000

invoice price = ?

Solution

As mentioned above the interest is paid semi-annually and there are 4 months to the next coupon payment it means that the last coupon payment was made 2 months ago therefore the accrued interest will be paid for 2 months.

Working

6 months coupon payment = $1000 x 6.23% x 6/12

6 months coupon payment = $31.15

Accrued interest for 2 months = $31.15 x 2/6

Accrued interest for 2 months = $10.38

Invoice price = Clean price + Accrued interest

Invoice price = $989 + $10.38

Invoice price = $999.38

On a hot day Alice’s total satisfaction from consuming ice cream and soft drinks is at its maximum when Select one: a. the relative price of ice cream and soft drinks is less than the ratio of the marginal utility of ice cream to the marginal utility of soft drinks b. the relative price of ice cream and soft drinks is equal to the ratio of the marginal utility of soft drinks to the marginal utility of ice cream. c. the relative price of ice cream and soft drinks is greater than the ratio of the marginal utility of ice cream to the marginal utility of soft drinks d. the relative price of ice cream and soft drinks is equal to the ratio of the marginal utility of ice cream to the marginal utility of soft drinks.

Answers

Answer:

im not really sure, i hope you find your answer.

Explanation:

Dodero Company produces a single product which sells for $100 per unit. Fixed expenses total $12,000 per month, and variable expenses are $60 per unit. The company's sales average 500 units per month. Which of the following statements is correct?
a. The company's break-even point is $12,000 per month.
b. The fixed expenses remain constant at $24 per unit for any activity level within the relevant range.
c. The company's contribution margin ratio is 40%.
d. Responses A, B, and C are all correct.

Answers

Answer:

c. The company's contribution margin ratio is 40%.

Explanation:

Contribution margin ratio = contribution margin / revenue

contribution margin = total revenue - total variable cost

$100 - $60 = $40

$40 / $100 = 0.4

Breakeven pont = fixed cost / price - variable cost

$12,000  / $100 - $60 = 300

fixed cost per unit decreases as sales increases and decreases as sales decreases

If people lost confidence in the government what kind of money would have the least value?

Answers

If people lost confidence in the government which would have the least value?

a) fiat money

b) representative money

c) commodity money

d) gold standard

Answer:

Fiat money

Explanation:

Fiat money is a type of money or currency that is used as money because it is issued and backed by the government but it does not have any intrinsic value.

It has no intrinsic value which means that it does not have any value of its own and it is maintained by the government. Therefore, If people lost confidence in the government the kind of money that would have the least value is fiat money

Salary expense was 15.5% of sales this year. If sales this year are $1,300,000 and are forecasted to be $1,500,000 next year, what is forecasted salary expense next year if all expenses maintain a constant percent of sales?

Answers

Answer:

Salary expense next year=$232,500

Explanation:

The ratio of expense to ales is an important which  helps in the management and control overhead.

We can be  predict the Salary expense using the information given about the relationship between salary expense and sales .

If salary expense is 15.5% of sales, then Salary expense this year =

15.5% × 1,300,000=$201,500

Salary expense next year = 15.5% × foretasted sales next year

                                          =  15.5% × 1,500,000 = $232,500

We use 15.5% because the relationship between the expenses and the sales in proportion is expected to remain the same

Salary expense next year=$232,500

Retired utility workers are suing their former employer for knowingly exposing them to asbestos without warning them of the health risks. The retired workers did not learn of the prolonged exposure until long after their retirement because the company engaged in a systematic cover up of the exposure. The retired workers' cause of action is for which of the following?

a. Assault
b. Battery
c. Injurious falsehood
d. Tortious interference

Answers

Answer:

b. Battery

Explanation:

Retired utility workers are suing their former employer for knowingly exposing them to asbestos without warning them of the health risks. The retired workers did not learn of the prolonged exposure until long after their retirement because the company engaged in a systematic cover up of the exposure. The retired workers' cause of action is for battery.

In Business law, battery can be defined as the act of intentionally causing physical harm to an individual or group of people through physical contacts.

Hence, in this case the employers knowingly or intentionally exposed the retired workers to asbestos without warning them of the health risks associated.

Simply stated, a battery in criminal law is completed assault.

On January 1, 20X7, Server Company purchased a machine with an expected economic life of five years. On January 1, 20X9, Server sold the machine to Patron Corporation and recorded the following entry:
Cash 45,000
Accumulated Depreciation 28,000
Machine 70,000
Gain on Sale of Equipment 3,000
Patron Corporation holds 75 percent of Server's voting shares. Server reported net income of $50,000, and Patron reported income from its own operations of $100,000 for 20X9. There is no change in the estimated economic life of the equipment as a result of the intercorporate transfer. Based on the preceding information, in the preparation of the 20X9 consolidated income statement, machine will be what amount and will it be debited or credited in the consolidation entry?

Answers

Answer:

Consolidation entry is given below

Explanation:

Consolidated Entry                     DEBIT    CREDIT

Machinery(w)                             $42,000

Loss on purchase                      $3,000

Cash                                                            $45,000

NOTE: We will record a loss in consolidation entry because the consideration paid is greater than the machinery's carrying value.

Working

Carrying value = Net book value - Accumulated Depreciation

Carrying value = $70,000 - $28,000

Carrying value = $42,000

High-Low Method Ziegler Inc. has decided to use the high-low method to estimate the total cost and the fixed and variable cost components of the total cost. The data for various levels of production are as follows: Units Produced Total Costs 80,000 $25,100,000 92,000 27,206,000 120,000 32,120,000 a. Determine the variable cost per unit a

Answers

Answer:

Variable cost per unit= $175.5

Explanation:

Giving the following information:

Units Produced Total Costs

80,000 $25,100,000

92,000 $27,206,000

120,000 $32,120,000

To calculate the variable cost per unit under the high-low method, we need to use the following formula:

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (32,120,000 - 25,100,000) / (120,000 - 80,000)

Variable cost per unit= 7,020,000 / 40,000

Variable cost per unit= $175.5

It is March 31, 2014. What is EBay’s latest available actual share count? Please provide your answer without comma separator or decimal (Ex: 23456326563)

Answers

Answer:

  1267342622

Explanation:

According to the Form 10-Q filed by eBay Inc. with the SEC for the quarter ending March 31, 2014, ...

  "As of April 25, 2014, there were 1,267,342,622 shares of the registrant's common stock, $0.001 par value, outstanding."

The American car battery industry boasts that its recycling rate now exceeds 95%, the highest rate for any commodity. However, with changes brought about by specialization and globalization, parts of the recycling system are moving offshore. This is particularly true of automobile batteries, which contain lead. The Environmental Protection Agency (EPA) is contributing to the offshore flow with newly implemented standards that make domestic battery recycling increasingly difficult and expensive. The result is a major increase in used batteries going to Mexico, where environmental standards and control are less demanding than they are in the U.S. One in five batteries is now exported to Mexico. There is seldom difficulty finding buyers because lead is expensive and in worldwide demand. While U.S. recyclers operate in sealed, mechanized plants, with smokestacks equipped with scrubbers and plant surroundings monitored for traces of lead, this is not the case in most Mexican plants. The harm from lead is legendary

Answers

The correct answer to this open question is the following.

The question is incomplete. There are parts of the question missing. Indeed, there is no question posted, it is just a statement.

However, we can do research and comment on the following.

We are facing two scenarios here. Both, ethical dilemmas that need to be solved.

1) as an independent auto repair shop owner that tries to safely dispose of a few old batteries each week. (Your battery supplier is an auto parts supplier who refuses to take your old batteries.)

In this case, I would check the original agreement with the supplier to see if there is a clause on old batteries management. If not, I would ask it to help me solve this issue because I am his client and has to take care of me and the environment. Otherwise, I would have to contemplate the option of changing supplier.  

2) I am the manager of a large retailer responsible for the disposal of thousands of used batteries each day.

In this other case, I would follow the Environmental Department rules and regulations to comply with the correct procedures. This means to ask for support and orientation to get all the revisions to work properly. Because I know all the consequences of not recycling correctly or the damage done to humans and the environment. So although it could be more money, and would modernize my equipment to better manage the disposal of batteries. It would be an investment, not an expense.

A firm has explicit costs of $100,000 and implicit costs of $30,000, and generates $150,000 in revenue. How much revenue does it need to have a normal profit

Answers

Answer:

above $130,000

Explanation:

Implicit cost is the opportunity cost that is incurred from the use of a company's resources, while explicit cost are those incurred in the normal running of the business. For example wages, utility payment, and raw material cost.

Total cost = Explicit cost + Implicit Cost

Total cost = $100,000 + $30,000

Total Cost = $130,000

Profit = Revenue - Total cost

So if profit is 0

0 = Revenue - $130,000

Revenue = $130,000

Therefore to get a normal profit that is above 0, the revenue should be above $130,000

Answer:

$130,000

Explanation:

Normal profit occurs when revenues equal explicit and implicit costs.

total revenue = explicit cost + implicit cost

$100,000 + $30,000 = $130,000

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