7. Goop Inc. needs to order a raw material to make a special polymer. The demand for the polymer is forecasted to be normally distributed with a mean of 250 gallons and a standard deviation of 100 gallons. Goop sells the polymer for $25 per gallon. Goop purchases raw material for $10 per gallon and must spend $5 per gallon to dispose of all unused raw material due to government regulations. (One gallon of raw material yields one gallon of polymer.) If demand is more than Goop can make, then Goop sells only what it has made and the rest of the demand is lost.

How many gallons should Goop purchase to maximize its expected profit?

Prepare beneish corporation's income statement and statement of stockholders' equity for year-end december 31, and its balance sheet as of december 31. there were no stock issuances or repurchases during the year. (do not use negative signs with your answers unless otherwise noted.)

Oerstman, inc. uses a standard costing system and develops its overhead rates from the current annual budget. the budget is based on an expected annual output of 120,000 units requiring 480,000 direct labor hours.(practical capacity is 500,000 hours)annual budgeted overhead costs total $772,800, of which $556,800 is fixed overhead. a total of 119,300 units, using 478,000 direct labor hours, were produced during the year. actual variable overhead costs for the year were $260,400 and actual fixed overhead costs were $555,450.required: 1. compute the fixed overhead spending variance and indicate if favorable or unfavorable.2. compute the fixed overhead volume variance and indicate if favorable or unfavorable.

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.