Advanced company reports the following information for the current year. all beginning inventory amounts equaled $0 this year.

units produced this year 25,000 units

units sold this year 15,000 units

direct materials $9 per unit

direct labor $11 per unit

variable overhead $75,000 in total

fixed overhead $137,500 in total

93. given advanced company's data, compute cost of finished goods in inventory under absorption costing.

a. $285,000

b. $712,500

c. $427,500

d. $230,000

e. $345,000

94. given advanced company's data, compute cost of finished goods in inventory under variable costing.

a. $285,000

b. $712,500

c. $427,500

d. $230,000

e. $345,000

95. given advanced company's data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under absorption costing.

a. $55,000

b. $67,500

c. $80,500

d. $122,500

e. $205,000

96. given advanced company's data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under variable costing.

a. $55,000

b. $67,500

c. $80,500

d. $122,500

e. $205,000

If the demand for a pair of shoes is given by 2p + 5q = 200 and the supply function for it is p − 2q = 10, compare the quantity demanded and the quantity supplied when the price is $90. quantity demanded pairs of shoes quantity supplied pairs of shoes will there be a surplus or shortfall at this price? there will be a surplus. there will be a shortfall.

Which of the following is a problem for the production of public goods?

The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u. s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.