9.26. Suppose that the world market for calcium is perfectly competitive and that, as a first approximation, all existing producers and potential entrants are identical. Consider the following information about the price of calcium: • Between 1990 and 1995,the market price was stable at about $2 per pound. • In the first three months of 1996,the market price doubled, reaching a high of $4 per pound, where it remained for the rest of 1996. • Throughout 1997 and 1998,the market price of calcium declined, eventually reaching $2 per pound by the end of 1998. • Between 1998 and 2002,the market price was stable at about $2 per pound. Assuming that the technology for producing calcium did not change between 1990 and 2002 and that input prices faced by calcium producers have remained constant, what explains the pattern of prices that prevailed between 1990 and 2002? Is it likely that there are more producers of calcium in 2002 than there were in 1990? Fewer? the same number? Explain your answer.

Rediger inc., a manufacturing corporation, has provided the following data for the month of june. the balance in the work in process inventory account was $28,000 at the beginning of the month and $20,000 at the end of the month. during the month, the corporation incurred direct materials cost of $56,200 and direct labor cost of $29,800. the actual manufacturing overhead cost incurred was $53,600. the manufacturing overhead cost applied to work in process was $52,200. the cost of goods manufactured for june was:

Expert computers was started in 2018. the company experienced the following accounting events during its first year of operation: started business when it acquired $40,000 cash from the issue of common stock. purchased merchandise with a list price of $32,000 on account, terms 2/10, n/30. paid off one-half of the accounts payable balance within the discount period. sold merchandise on account for $28,000. credit terms were 1/20, n/30. the merchandise had cost expert computers $16,000. collected cash from the account receivable within the discount period. paid $2,100 cash for operating expenses. paid the balance due on accounts payable. the payment was not made within the discount period. required record the events in a horizontal statements model below. in the cash flows column, use the letters oa to designate operating activity, ia for investing activity, fa for financing activity, or nc for net change in cash. if the account is not affected by the event, leave the cell blank. the first event is recorded as an example. what is the amount of gross margin for the period? what is the net income for the period?

Kubin company’s relevant range of production is 24,000 to 31,000 units. when it produces and sells 27,500 units, its average costs per unit are as follows: