1. Choose a real or made up example of a company, and describe at least three variable costs the company has. (1-3 sentences. 1.5 points) 2. Choose a real or made up example of a company, and describe at least three fixed costs the company has. (1-3 sentences. 1.5 points)

3. Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is? Why? Explain. (1-3 sentences. 2.0 points)

4. If you were running a company, describe at least two things you would do to improve its productivity. (1-4 sentences. 2.0 points)

5. Describe at least two advantages a large company has over a smaller company. (1-4 sentences. 2.0 points)

6. Choose a good you are familiar with, and analyze its economic utility, using the questions below. NOTE: Choose a good for this exercise, not a service.

a. What type of good did you choose? (1 sentence. 1.0 points)

b. Describe the form utility of the product you chose. What makes its form useful? Can you think of any improvements that could be made to its form utility? (1-3 sentences. 2.0 points)

c. Describe the place utility of the product. Can you think of any improvements that could be made to its place utility? (1-3 sentences. 2.0 points)

d. Describe the time utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)

e. Describe the possession utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)

f. Describe the information utility of the product. Can it be improved at all? (1-3 sentences. 2.0 points)

The starr theater, owned by meg vargo, will begin operations in march. the starr will be unique in that it will show only triple features of sequential theme movies. as of march 1, the ledger of starr showed: cash $3,150, land $22,000, buildings (concession stand, projection room, ticket booth, and screen) $10,000, equipment $10,000, accounts payable $7,300, and owner’s capital $37,850. during the month of march, the following events and transactions occurred. mar. 2 rented the three indiana jones movies to be shown for the first 3 weeks of march. the film rental was $3,600; $1,600 was paid in cash and $2,000 will be paid on march 10.3 ordered the lord of the rings movies to be shown the last 10 days of march. it will cost $200 per night.9 received $4,500 cash from admissions.10 paid balance due on indiana jones movies rental and $2,200 on march 1 accounts payable.11 starr theater contracted with adam ladd to operate the concession stand. ladd is to pay 15% of gross concession receipts, payable monthly, for the rental of the concession stand.12 paid advertising expenses $900.20 received $5,100 cash from customers for admissions.20 received the lord of the rings movies and paid the rental fee of $2,000.31 paid salaries of $2,900.31 received statement from adam ladd showing gross receipts from concessions of $6,000 and the balance due to starr theater of $900 ($6,000 × 15%) for march. ladd paid one-half the balance due and will remit the remainder on april 5.31 received $9,200 cash from customers for admissions.1.) enter the beginning balances in the ledger.2.) journalize the march transactions. starr records admission revenue as service revenue, rental of the concession stand as rent revenue, and film rental expense as rent expense. (credit account titles are automatically indented when the amount is entered. do not indent manually. record journal entries in the order presented in the problem. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)3.) post the march journal entries to the ledger. (post entries in the order of journal entries presented in the previous question.)