You are given the market demand function q = 3400 - 1000p, and that each duopoly firm's marginal cost is $0.28 per unit, which implies the cost function: c (q_i) = 0.28q_i, assuming no fixed costs for i = 1, 2. the cournot equilibrium quantities are q_1 = and q_2 = (enter your responses as whole numbers). the cournot equilibrium price is $ (round to the nearest penny) calculate the cournot profits: firm 1 $ and firm 2 $ (round both responses to the nearest cent).

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.