Simmons marketing (sm) has the capacity to produce 10,000 fax machines per year. sm currently produces and sells 7,000 units per year. the fax machines normally sell for $100 each. modem products has offered to buy 2,000 fax machines from sm for $60 each. unit-level costs associated with manufacturing each fax machine are $15 for direct labor and $40 for direct materials. product-level and facility-sustaining costs are $50,000 and $65,000, respectively. what is sm's current profit (net income)?

Suppose that each firm in a competitive industry has the following costs: total cost: tc=50+12q2tc=50+12q2 marginal cost: mc=qmc=q where qq is an individual firm's quantity produced. the market demand curve for this product is: demand qd=160−4pqd=160−4p where pp is the price and qq is the total quantity of the good. each firm's fixed cost is.

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Harwood company uses a job-order costing system that applies overhead cost to jobs on the basis of machine-hours. the company's predetermined overhead rate of $2.50 per machine-hour was based on a cost formula that estimates $240,000 of total manufacturing overhead for an estimated activity level of 96,000 machine-hours. required: 1. assume that during the year the company works only 91,000 machine-hours and incurs the following costs in the manufacturing overhead and work in process accounts: compute the amount of overhead cost that would be applied to work in process for the year and make the entry in your t-accounts. 2a. compute the amount of underapplied or overapplied overhead for the year and show the balance in your manufacturing overhead t-account. 2b. prepare a journal entry to close the company's underapplied or overapplied overhead to cost of goods sold.