Question : Figure 10-4 8) Refer to Figure 10-4. What the marginal rate : 1387722

Economics

Figure 10-4

8) Refer to Figure 10-4. What is the marginal rate of substitution between g and h?

A) cookie.

B) cookie.

C) 2 cookies.

D) 3 cookies.

9) Refer to Figure 10-4. What is the marginal rate of substitution between h and j?

A) cookie.

B) cookie.

C) 2 cookies.

D) 4 cookies.

10) The absolute value of the slope of the budget constraint is equal to

A) the marginal rate of substitution between the two goods in question.

B) the price of good on the vertical axis divided by the price of the good on the horizontal axis.

C) the price of good on the horizontal axis divided by the price of the good on the vertical axis.

D) quantity of the good on the vertical axis divided by the quantity of the good on the horizontal axis.

11) A consumer’s utility-maximizing combination of goods is given by the bundle that corresponds to the point on

A) the indifference curve that intersects the horizontal axis.

B) the indifference curve that intersects the vertical axis.

C) an indifference curve that is tangent to the budget constraint.

D) the budget constraint where it intersects one of the axes.

Figure 10-5

12) Refer to Figure 10-5. The consumer can afford consumption bundles

A) r, s, t and u.

B) r, s, v and u.

C) s, v and u only.

D) s, v, t and u.

13) Refer to Figure 10-5. Which of the following statements is true?

A) The consumer gets more utility from bundle r than from bundle v.

B) The consumer gets less utility from bundle w than from bundle v.

C) Bundles r, s, t and u all cost the same.

D) Bundles r and w are not affordable.

14) Refer to Figure 10-5. Suppose the price of pizza increases while the price of hamburger remains constant. Then, the consumer’s

A) indifference curve becomes more concave away from the origin.

B) indifference curve becomes straighter.

C) budget constraint moves inward toward the origin on the pizza axis while the hamburger intercept remains the same.

D) budget constraint moves outward away from the origin on the pizza axis while the hamburger intercept remains the same.

15) Aisha and Debbie both purchase milk and bread at the same Quik Mart. They have different tastes for milk and bread and different incomes. They both buy some milk and some bread, but they buy considerably different quantities of the two goods. Which of the following statements is true, given that Aisha and Debbie are utility-maximizers?

A) In equilibrium, their marginal rate of substitution between milk and bread is the same.

B) In equilibrium, their marginal rate of substitution between milk and bread is higher for the person with the higher income.

C) In equilibrium, the marginal rate of substitution between milk and bread is greater for the person who prefers milk more than bread.

D) No statement can be made about their respective marginal rates of substitution without their budget constraint/indifference curve diagrams.

Figure 10-6

16) Refer to Figure 10-6. A change in income is shown in

A) Panel A.

B) Panel B.

C) Panel C.

D) none of the above panels.

17) Refer to Figure 10-6. A change in the price of candy only is shown in

A) Panel A.

B) Panel B.

C) Panel C.

D) none of the above panels.

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July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

July 1, 2023

135.Use the following data to determine the cost of goods manufactured.

Beginning finished goods inventory$10,800

Direct labor30,600

Beginning work in process inventory7,200

General and administrative expenses13,500

Direct materials used40,500

Ending work in process inventory9,000

Indirect labor6,300

Ending finished goods inventory9,500

Indirect materials13,500

Depreciation—factory equipment7,500

A.$102,000.

B.$110,100.

C.$96,600.

D.$113,700.

E.$100,200.

136.Use the following data to compute total factory overhead costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

137.Use the following data to compute total manufacturing costs for the month.

Sales commissions10,800

Direct labor39,600

Indirect materials15,200

Factory manager salaries7,200

Factory supplies9,000

Indirect labor6,300

Depreciation—office equipment5,000

Direct materials40,500

Corporate office salaries42,500

Depreciation—factory equipment7,500

A.$141,100.

B.$125,300.

C.$45,200.

D.$84,800.

E.$58,300.

138.Use the following information to compute the cost of goods manufactured:

Beginning raw materials$5,500

Ending raw materials4,000

Direct labor12,250

Raw material purchases7,400

Depreciation on factory equipment6,500

Factory repairs and maintenance3,300

Beginning finished goods inventory10,200

Ending finished goods inventory8,900

Beginning work in process inventory5,700

Ending work in process inventory6,300

A.$36,650.

B.$30,950.

C.$30,650.

D.$30,350.

E.$31,650.

139.The following information pertains to the Packer Corporation. Calculate the cost of goods sold for the period:

Beginning Raw Materials$30,000

Ending Raw Materials$70,000

Beginning Work in Process Inventory$40,000

Ending Work in Process Inventory$46,000

Beginning Finished Goods Inventory$72,000

Ending Finished Goods Inventory$68,000

Cost of Goods Manufactured for the period$246,000

A.$250,000.

B.$290,000.

C.$242,000.

D.$258,000.

E.$246,000.

140.The following information pertains to the Frameworks Corporation for May. Calculate the cost of goods sold for the period:

Beginning Finished Goods Inventory$19,500

Ending Finished Goods Inventory$18,000

Cost of Goods Manufactured$126,800

A.$164,300.

B.$126,800.

C.$125,300.

D.$146,300.

E.$128,300.

141.Using the information below, calculate the cost of goods manufactured for the period.

Beginning Raw Materials Inventory$25,000

Ending Raw Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$553,000.

B.$536,000.

C.$549,000.

D.$527,000.

E.$525,000.

142.Using the information below, calculate gross profit for the period.

Beginning Raw Materials Inventory$25,000

Ending Direct Materials Inventory$30,000

Beginning Work in Process Inventory$55,000

Ending Work in Process Inventory$64,000

Beginning Finished Goods Inventory$80,000

Ending Finished Goods Inventory$67,000

Cost of Goods Sold for the period$540,000

Sales revenues for the period$1,254,000

Operating expenses for the period$232,000

A.$714,000.

B.$482,000.

C.$1,022,000.

D.$187,000.

E.$727,000.

143.Using the information below, calculate cost of goods sold for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

144.Using the information below, calculate gross profit for the period.

Sales revenues for the period$1,304,000

Operating expenses for the period$239,000

Finished Goods Inventory, January 136,000

Finished Goods Inventory, December 3141,000

Cost of goods manufactured for the period$540,000

A.$774,000.

B.$769,000.

C.$530,000.

D.$535,000.

E.$448,000.

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Question : Figure 10-4 8) Refer to Figure 10-4. What the marginal rate : 1387722

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