The production of agricultural products like wheat is one of the few examples of a perfectly competitive industry. This question analyzes results from a study released by the U. S. Department of Agriculture about wheat production in the United States in 2016.
A. The average variable cost per acre planted with wheat was $107/ per acre. Assuming a yield of 50 bushels per acre, calculate the AVC per bushel.
B. The average price of wheat received by farmers in 1998 was $ 2.65/ per bushel. Do you think the average farm would have exited the industry in 1998? Explain.
C. With a yield of 50 bushels of wheat per acre, the ATC per farm was $3.80/per bushel. The harvested acreages in the US for rye (a particular kind of wheat) fell from 418,000 acres in 1998 to 274,000 in 2006. Use the information on prices and costs here and In parts (a) and (b) to explain why this might have happened.

White company has two departments, cutting and finishing. the company uses a job-order costing system and computes a predetermined overhead rate in each department. the cutting department bases its rate on machine-hours, and the finishing department bases its rate on direct labor-hours. at the beginning of the year, the company made the following estimates: department cutting finishing direct labor-hours 6,000 30,000 machine-hours 48,000 5,000 total fixed manufacturing overhead cost $ 264,000 $ 366,000 variable manufacturing overhead per machine-hour $ 2.00 " variable manufacturing overhead per direct labor-hour " $ 4.00 required: 1. compute the predetermined overhead rate for each department. 2. the job cost sheet for job 203, which was started and completed during the year, showed the following: department cutting finishing direct labor-hours 6 20 machine-hours 80 4 direct materials $ 500 $ 310 direct labor cost $ 108 $ 360 using the predetermined overhead rates that you computed in requirement (1), compute the total manufacturing cost assigned to job 203. 3. would you expect substantially different amounts of overhead cost to be assigned to some jobs if the company used a plantwide predetermined overhead rate based on direct labor-hours, rather than using departmental rates?

Put each of them in order. you are a young entrepreneur with a startup business. you now seek credit from the bank to expand it. what are the steps you will have to take? 1. you support your loan application with relevant documents. 2. you fill out the loan application form at the bank 3. you get an approval for the loan and the money is disbursed to your business account 4. you use the credit to further your business plan. 5. you have an interview with the loan officer and you explain your business plan.

Need true or false 1 2 3 4 5 6 7 8