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Chapter 2-7 Homework Solution

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Identify accounts by category and financial statement(s) Listed here are a number of financial statement captions. Indicate in the spaces to the right of each caption the category of each item and the financial statement(s) on which the item can usually be found. Use the following abbreviations:

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Managerial Accounting ACCT 503 Homework Solutions

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10 homework solutions included in this bundle for Managerial Accounting ACCT 503.

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Management Economic EconLab Chapter 7

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Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. The production function for a firm is q = -0.6L 3 + 18L 2K + 10L where q is the amount of output, L is the number of labor hours per week, and K the amount of capital. The wage is $100 and the rental rate is $800 per time period.

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Management Economic EconLab 6-1

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Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. A competitive firm’s cost of producing q units of output is C = 18 + 4q + q 2 . Its corresponding marginal cost is MC = 2q + 4.

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Management Economic EconLab 7-1

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Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. The marketing department of Acme Inc. has estimated the following demand function for its popular carpet deodorizer, Freshbreeze: Q = 100 – 5p, where Q is the quantity of an 8 oz box sold (in thousand units) and p the price of an 8 oz. box

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Management Economic EconLab 8-2

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Use a cell reference or a single formula where appropriate in order to receive full credit. Do not copy and paste values or type values, as you will not receive full credit for your answers. Lucy wants carpets and paintings for her office. Her company has given her a budget of $7,200 for this purpose. Persian carpets of the size that she wants can be purchased for $900 each and paintings from a local Native American artist cost $400 each.

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