Calculate total revenue-marginal revenue-marginal cost, Cost Accounting

Assignment Help:

In the beach city of Santa Barbara, California, there are seven bathing suit stores, each with the same schedule of costs and each facing an identical demand curve. Swim N Style is a typical store:

                                       Suits sold
                                       (per hour)           Price           Total Cost

                                                1                    $68                  $70

                                                2                      66                    80

                                                3                      64                    85

                                                4                      62                    90

                                                5                      60                  100

                                                6                      58                  115

                                                7                      56                  136

                                                8                      54                  164

                                                9                      52                  200

                                              10                      50                  245

a)   Calculate total revenue, marginal revenue, marginal cost and average cost at each level of sales for the store.

b)   If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be?


Related Discussions:- Calculate total revenue-marginal revenue-marginal cost

Requirements of uniform costing, Requirements of Uniform Costing 1. Un...

Requirements of Uniform Costing 1. Uniform costing systems must process the given features as: 2. Cost reports and statements should be organized and laid out in a same for

Prepare the general journal entry to record this requisition, Erlander Comp...

Erlander Company uses a job order cost accounting system. On November 1 2013, $15,000 of direct materials and $3,500 of indirect materials were requisitioned for production. Prepar

Uniform Capitalization rules, Are public service corporations subject to un...

Are public service corporations subject to uniform capitalization rules?

Determine equivalent units of the product, Determine Equivalent Units of th...

Determine Equivalent Units of the Product Let assume there are 4,000 units of a product in ending inventory out of that 60 percent are fully complete whereas the remaining are

Contract account, i want to understand everything about contract account

i want to understand everything about contract account

Straight-line depreciation, Alger Corp wants to buy some construction equip...

Alger Corp wants to buy some construction equipment for $50,000, which has a useful life of 4 years with no salvage value. Alger uses straight-line depreciation. Alger has a tax ra

Calculate cost of goods sold under throughput costing, The follow data rela...

The follow data relates ot year 20XX for Plano Manufacturing Company: Units produced - 2,000 Units sold - 1,800 Selling price - $200 / per unit Direct material costs - $80,000 Dir

Advantages and disadvantages of group bonus plan, Advantages and Disadvanta...

Advantages and Disadvantages of Group Bonus Plan Benefits associated along with group bonus schemes involve i. It encourages teamwork and cooperation among workers ii.

Current funding availability, 1. The Initial Borrowings required are determ...

1. The Initial Borrowings required are determined by the amount required to start  the project less the Cash Invested by the Corporation.  The loans will always be principle & inte

What is the overall purpose to the statement of cash flows, 1.    Provide...

1.    Provide at least three characteristics of a corporation (in your own words).   2.   The date on which a cash dividend becomes a binding legal obligation is known

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd