BUS 2083 Introduction to Managerial Accounting Learning Activity 2 Due Date: January 20, 2020 Time: 2:09 Problem 1: Insight Inc, deals in four different products with different manufacturing process, and specifications You, as the production head, has been asked to prepare a cost sheet specifying the minimum number of units that the company must produce and sell in the upcoming year to ensure that the company does not run into losses. You asked the production manager of each product to provide you with relevant information regarding there respective products, and they came up with the following dala Budgeted production in units) Total fixed cost of the company $950.000 Also, compule the margin of safety sales if the actual sales of the company came out to be 55000.00

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Q23. At 50% working raw material cost increases by 2% and selling price falls by 2% at the 80% working, raw material cost increases by 5% and selling price falls by 5%. At 50% capacity working the product costs rs. 180 Per unit and is sold at rs. 200 Per unit. The unit cost of rs. 180 Is made up as follows: material labour factory overhead administrative overhead Q24. Following are the ratios to trading activities of national traders Itd. Debtors velocity 3 months stock velocity 8 months creditors velocity 2 months gross profit ratio 25 % gross profit for the year ended 31st?dec. 2007 Amounts to rs. 400000. Closing stock of the year is rs. 10000 Above the opening stock. B/r amounts to rs. 25000 And b/p to rs.ia 10000. Calculate, sales, debtors,closing stock, creditors.

Question One:

Define the following terms Average fixed cost Average total cost Average variable cost Total Cost Total fixed cost Total variable cost

Question Two: Game theory Payoff matrix/table Nash equilibrium

2b

Explain how these are useful in the world of business using a real world actual business

Question Three Expected utility Expected value rule Explain when these rules are used in the business

Question Four

Describe a product or service you are familiar with that is a natural monopoly and explain why it is a natural monopoly It is economically efficient to allow this monopoly to continue or is there a better solution for this product? Explain your answer

Leases On January 1, Lorraine, Inc., entered into a lease contract. The lease contract was a ten-year lease for a computer with $16,000 annual lease payments due at the end of each year. Lorraine took possession of the computer on January 1. The present value of the lease payments under the lease contract is $117,761. The lease contract is a finance lease. Prepare the journal entry for this lease on January 1 Description Debit Credit $ Cash Interest expense Bonds payable Discount on bonds payable Lease liability Premium on bonds payable Right-of-use asset LA LA

ABC Corporation reported the following in its 2018 and 2017 incomestatements. 2018 2017 Net sales $            100,000                  120,000 Cost of goods sold                    46,000                     62,000 Operating expenses                    26,000                     34,000 Income tax expense                       7,000                        6,000 Net income $               28,000 $                18,000

Determine the company's gross profit rate and profit margin for each year.2018 2017 Gross profit rate Profit margin