Mr. jernigan owns a piece of land on which he grows corn. corn production annually requires $2,000 in seed, $7,000 in fertilizer, and $6,000 in pesticides. mr. jernigan uses his own labor to grow the corn and therefore hires no workers. if mr. jernigan did not use his time to grow corn, he would instead be able to sell insurance, earning $25,000 per year. suppose another farmer has just offered to pay mr. jernigan rent of $15,000 per year for use of the land. if mr. jernigan refuses to rent the land to another farmer, then what will be his accounting costs from farming corn himself on his land? what will be his economic costs? mr. jernigan's accounting costs will be

Manipulation manufacturing's (amm) standards anticipate that there will be 5 pounds of raw material used for every unit of finished goods produced. amm began the month of maymay with 8,000 pounds of raw material, purchased 25,500 pounds for $ 15,300 and ended the month with 7,400 pounds on hand. the company produced 4,9004,900 units of finished goods. the company estimates standard costs at $ 1.10 per pound. the materials price and efficiency variances for the month of maymay were:

Arecession is defined as a period in which

Required information lansing company’s 2017 income statement and selected balance sheet data (for current assets and current liabilities) at december 31, 2016 and 2017, follow. lansing company income statement for year ended december 31, 2017 sales revenue $130,200 expenses cost of goods sold 53,000 depreciation expense 17,500 salaries expense 29,000 rent expense 10,100 insurance expense 4,900 interest expense 4,700 utilities expense 3,900 net income $7,100 lansing company selected balance sheet accounts at december 31 2017 2016 accounts receivable $6,700 $8,000 inventory 3,080 2,090 accounts payable 5,500 6,800 salaries payable 1,100 810 utilities payable 440 270 prepaid insurance 370 500 prepaid rent 440 290 required: prepare the cash flows from operating activities section only of the company’s 2017 statement of cash flows using the indirect method. (amounts to be deducted should be indicated with a minus sign.)