Presented below is information related to Carla Enterprises.

Jan. 31 Feb. 28 Mar. 31 Apr. 30

Inventory at cost $16,350 $16,459 $18,530 $15,260

Inventory at LCNRV 15,805 13,734 17,004 14,497

Purchases for the month 18,530 26,160 28,885

Sales for the month 31,610 38,150 43,600

Required:

1. From the information, prepare (as far as the data permit) monthly income statements in columnar form for February, March, and April. The Inventory is to be shown in the statement at cost; the gain or loss due to market fluctuations is to be shown separately (using a valuation account). (Enter negative amounts using either a negative sign preceding the number e. g. -45 or parenthesis e. g. (45).)

Martha is the head of the accounts department in a small manufacturing company. the company follows the accrual-basis method of accounting. it recently purchased raw materials worth $5,000 from its vendors. however, the company paid only $3,000 to its vendors. it plans to pay the remaining amount after three months. considering this information, which entry should martha record in the company’s accounts? a. $5,000 as accounts receivable b. $3,000 as accounts payable c. $2,000 as accounts payable d. $2,000 as accounts receivable

Define the marginal rate of substitution between two goods (x and y). if a consumer’s preferences are given by u(x, y) = x3/4y1/4, compute the consumer’s marginal rate of substitution as a function of x and y. calculate the mrs if the consumer has chosen to consumer 48 units of x and 16 units of y. show your work. (use the back of the page if necessary.

Suppose there are three types of consumers who attend concerts at your university’s performing arts center: students, staff, and faculty. each of these groups has a different willingness to pay for tickets; within each group, willingness to pay is identical. there is a fixed cost of $1,000 to put on a concert, but there are essentially no variable costs. for each concert: i. there are 140 students willing to pay $20. (ii) there are 200 staff members willing to pay $35. (iii) there are 100 faculty members willing to pay $50. a) if the performing arts center can charge only one price, what price should it charge? what are profits at this price? b) if the performing arts center can price discriminate and charge two prices, one for students and another for faculty/staff, what are its profits? c) if the performing arts center can perfectly price discriminate and charge students, staff, and faculty three separate prices, what are its profits?