125 S Receipt of cash Devising an Idea 8. 2. Delivery of goods Making purchases (e.g. of inventories) to customers Receipt of orders after completing production 3. Receipt of orders before commencing production 4. Completion of production Commencing production 5. Progressivaly throughout production The operating cycle (Source: AARF, ED 51B) Using the operating cycle provided above, identify in each case at what point in the operating cycle (1-9) the revenue should be recognised. Provide full justification and give basis for your choice. 1. A soft-drink manufacturer 2. A legal firm 3. A theatre that sells season tickets to musical productions 4. A gold-mining company 5. A company which sells houses on an instalment plan: term of payment extending to 20 years: buyers assume all risks of ownership: buyers pay a deposit of 25% pf the sales price 6. A contractor building a bridge for the government

125 S Receipt of cash Devising an Idea 8. 2. Delivery of goods Making purchases (e.g. of inventories) to customers Receipt of orders after completing production 3. Receipt of orders before commencing production 4. Completion of production Commencing production 5. Progressivaly throughout production The operating cycle (Source: AARF, ED 51B) Using the operating cycle provided above, identify in each case at what point in the operating cycle (1-9) the revenue should be recognised. Provide full justification and give basis for your choice. 1. A soft-drink manufacturer 2. A legal firm 3. A theatre that sells season tickets to musical productions 4. A gold-mining company 5. A company which sells houses on an instalment plan: term of payment extending to 20 years: buyers assume all risks of ownership: buyers pay a deposit of 25% pf the sales price 6. A contractor building a bridge for the government

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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1 2 WN 3 4 5 6 7 8 9 WN=86 10 11 12 A B Capital (K) 1 1 1 1 1 1 1 1 1 1 с Labor (L) 1 AWNP 2 3 4 5 6 7 8 9 10 Total Product (TP) 10 Average Product (AP) 10 12.33 12.25 == 10.67 9.57 8.38 5.8 22 37 58 64 67 E 64 F Marginal Product (MP) 10 12 12 9 3 -3 -6 G 13 14 a. Complete the table above (SHOW FORMULAS USING EXCEL) 15 b. Create the graph of Total Product, Average Product, and Marginal Product as a function of Labor (SHOW STEP BY STEP PROCESS USING EXCEL) 16
SHOW FORMULAS ON EXCEL PLEASE STEP BY STEP
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