Ikerd Company applies manufacturing overhead to jobs on the basis of machine hours used. Overhead costs are estimated to total $347,325 for the year, and machine usage is estimated at 126,300 hours. For the year, $375,125 of overhead costs are incurred and 132,700 hours are used. Required:1. Compute the manufacturing overhead rate for the year. (Round answer to 2 decimal places, e. g. 1.25.)2. What is the amount of under- or overapplied overhead at December 31?3. Prepare the adjusting entry to assign the under- or overapplied overhead for the year to cost of goods sold.

(30 total points) suppose a firm’s production function is given by q = l1/2*k1/2. the marginal product of labor and the marginal product of capital are given by: mpl = 1/ 2 1/ 2 2l k , and mpk = 1/ 2 1/ 2 2k l . a) (12 points) if the price of labor is w = 48, and the price of capital is r = 12, how much labor and capital should the firm hire in order to minimize the cost of production if the firm wants to produce output q = 18?

What criteria does a company have to meet to be considered a monopoly?

Feedback systems do not always involve negative feedback. economic inflation, which is evidenced by continually rising prices, is a positive feedback system. a positive feedback control system, as shown on the right, adds the feedback signal to the input signal, and the resulting signal is used as the input to the process. a simple model of the price-wage inflationary spiral is shown on the right. add additional feedback loops, such as legislative control or control of the tax rate, to stabilize the system. it is assumed that an increase in workers’ salaries, after some time delay, results an increase in prices. under what conditions could prices be stabilized by falsifying or delaying the availability of cost-ofliving data? how would a national wage and price economic guideline program affect the feedback system?