For example, the lower, left cell shows that if flashfone prices low and pictech prices high, flashfone will earn a profit of $15 million and pictech will earn a profit of $2 million. assume this is a simultaneous game and that flashfone and pictech are both profit-maximizing firms.

if flashfone prices high, pictech will make more profit if it chooses a (high, low) price, and if flashfone prices low, pictech will make more profit if it chooses a(high, price.

if pictech prices high, flashfone will make more profit if it chooses a(high,, and if pictech prices low, flashfone will make more profit if it chooses a (high, low) price.

considering all of the information given, pricing high (is, is not) a dominant strategy for both flashfone and pictech. (note: a dominant strategy is a strategy that is best for a player regardless of the strategies chosen by the other players.)

if the firms do not collude, which strategy will they end up choosing?

flashfone will choose a low price and pictech will choose a high price.

flashfone will choose a high price and pictech will choose a low price.

both flashfone and pictech will choose a low price.

both flashfone and pictech will choose a high price.

true or false: the game between flashfone and pictech is an example of the prisoners' dilemma.

a. true
b. false

Acrosswalk_when there are no pavement markings.

Required information problem 15-1a production costs computed and recorded; reports prepared lo c2, p1, p2, p3, p4 [the following information applies to the questions displayed below. marcelino co.'s march 31 inventory of raw materials is $84,000. raw materials purchases in april are $540,000, and factory payroll cost in april is $364,000. overhead costs incurred in april are: indirect materials, $59,000; indirect labor, $26,000; factory rent, $38,000; factory utilities, $19,000; and factory equipment depreciation, $58,000. the predetermined overhead rate is 50% of direct labor cost. job 306 is sold for $670,000 cash in april. costs of the three jobs worked on in april follow. job 306 job 307 job 308 balances on march 31 direct materials $30,000 $36,000 direct labor 25,000 14,000 applied overhead 12,500 7,000 costs during april direct materials 133,000 210,000 $100,000 direct labor 105,000 150,000 101,000 applied overhead ? ? ? status on april 30 finished (sold) finished in process (unsold) required: 1. determine the total of each production cost incurred for april (direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including the balances from march 31). a-materials purchases (on credit). b-direct materials used in production. c-direct labor paid and assigned to work in process inventory. d-indirect labor paid and assigned to factory overhead. e-overhead costs applied to work in process inventory. f-actual overhead costs incurred, including indirect materials. (factory rent and utilities are paid in cash.) g-transfer of jobs 306 and 307 to finished goods inventory. h-cost of goods sold for job 306. i-revenue from the sale of job 306. j-assignment of any underapplied or overapplied overhead to the cost of goods sold account. (the amount is not material.) 2. prepare journal entries for the month of april to record the above transactions. 3. prepare a schedule of cost of goods manufactured. 4.1 compute gross profit for april. 4.2 show how to present the inventories on the april 30 balance sheet.

Amethod of allocating merchandise cost that assumes the first merchandise bought was the first merchandise sold is called the a. last-in, first-out method. b. first-in, first-out method. c. specific identification method. d. average cost method.