Alpha Electronics manufactures and sells a line of music. Unfortunately, Alpha Electronics suffered serious fire damage at its home office. As a result, the accounting records for October were partially destroyed-and completely jumbled. Alpha Electronics has hired you to help figure out the missing pieces of the accounting puzzle. Assume that the Raw Materials Inventory contains only direct materials Before we can determine the missing amount for ending Finished Goods Inventory, we will first need to calculate the Cost of G appropriate column.) Beginning work in ess inventory 0 Direct materials used S 8,700 Direct labor 3,400 Manufacturing overhead 6,000 18,100 Revenu Total manufacturing costs to account for 18,100 Work in Ending work in process inventory 1,200 Raw ma 16,900 Cost of goods manufactured Direct lai Manufact Now determine the Ending Finished Goods Inventory. Work in p Finished Direct mat Cost of goods available for sale Gross prof Ending finished goods inventory Purchases Choose from any list or enter any number in the input fields Requirement Find the following amounts: a. Cost of Goods Sold in October b. Beginning Raw Materials Inventory c. Ending Finished Goods Inventory to calculate the Cost of Goods Manufactured

Suppose that fixed costs for a firm in the automobile industry (start-up costs of factories, capital equipment, and so on) are $5 billion and that variable costs are equal to $17,000 per finished automobile. because more firms increase competition in the market, the market price falls as more firms enter an automobile market, or specifically, , where n represents the number of firms in a market. assume that the initial size of the u. s. and the european automobile markets are 300 million and 533 million people, respectively. a. calculate the equilibrium number of firms in the u. s. and european automobile markets without trade. b. what is the equilibrium price of automobiles in the united states and europe if the automobile industry is closed to foreign trade? c. now suppose that the united states decides on free trade in automobiles with europe. the trade agreement with the europeans adds 533 million consumers to the automobile market, in addition to the 300 million in the united states. how many automobile firms will there be in the united states and europe combined? what will be the new equilibrium price of automobiles? d. why are prices in the united states different in (c) and (b)? are consumers better off with free trade? in what ways?