A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically they estimate

P = $35.00 - 0.02Q

(P = selling price per unit, Q = quantity sold per year)

On the other hand, management estimates that the average cost of manufacturing and selling the product will decrease as the quantity sold increases

C = $4.00Q + $8000

where C = cost to produce and sell Q per year

The want to maximize profit. What quantity should the decision makers plan to produce and sell each year?

Based on the supply and demand theory, why do medical doctors earn higher wages than child-care workers?

You have collected the company performance data below for acme shoes and brand x

Knight company reports the following costs and expenses in may. factory utilities $17,400 direct labor $70,300 depreciation on factory equipment 13,850 sales salaries 46,700 depreciation on delivery trucks 3,900 property taxes on factory building 3,100 indirect factory labor 53,700 repairs to office equipment 1,500 indirect materials 84,200 factory repairs 2,220 direct materials used 137,700 advertising 15,900 factory manager’s salary 8,700 office supplies used 2,770 from the information: your answer is incorrect. try again. determine the total amount of manufacturing overhead. manufacturing overhead $ 173050 link to text your answer is incorrect. try again. determine the total amount of product costs. product costs $ 208000 link to text your answer is incorrect. try again. determine the total amount of period costs. period costs $ 66870 click if you would like to show work for this question: open show work