Powell Company manufactures a product that it sells for $20 per unit. For 2020 the company expects to produce 30,000 units and sell 28,000 units. Variable manufacturing costs will be $8 per unit and variable selling expense $4 per unit.
Total fixed manufacturing costs will be $120,000 and total fixed selling & administrative expense $60,000. The company’s tax rate is 20%.

Prepare a budgeted financial accounting income statement for 2020

As a result of a labeling mistake at the chemical factory, a farmer accidentally sprays weedkiller rather than fertilizer on half her land. as a result, she loses half of her productive farmland. if the property of diminishing returns applies to all factors of production, she should expect to seea. a decrease in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. b. an increase in the marginal productivity of her remaining land and an increase in the marginal productivity of her labor. c. an increase in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor. d. a decrease in the marginal productivity of her remaining land and a decrease in the marginal productivity of her labor.