Howard cooper, the president of glacier computer services, needs your . he wonders about the potential effects on the firm’s net income if he changes the service rate that the firm charges its customers. the following basic data pertain to fiscal year 2019: standard rate and variable costs service rate per hour $ 60.00 labor cost 32.00 overhead cost 5.76 selling, general, and administrative cost 3.44 expected fixed costs facility maintenance $ 320,000 selling, general, and administrative 120,000 required prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 30,000 hours of services in 2019. a marketing consultant suggests to mr. cooper that the service rate may affect the number of service hours that the firm can achieve. according to the consultant’s analysis, if glacier charges customers $56 per hour, the firm can achieve 38,000 hours of services. prepare a flexible budget using the consultant’s assumption. the same consultant also suggests that if the firm raises its rate to $64 per hour, the number of service hours will decline to 25,000. prepare a flexible budget using the new assumption.

Hanna intends to give her granddaughter, melodee, her antique hat pin. this heirloom has been kept under lock and key in the wall vault in the library of hanna's house in virginia. the hat pin is currently the only item in the vault. when hanna is visiting melodee in connecticut, hanna gives melodee the only key to the vault. melodee is grateful for the present and excitedly accepts. in this situation has there been a completed gift?

During january 2018, the following transactions occur: january 1 purchase equipment for $20,600. the company estimates a residual value of $2,600 and a five-year service life. january 4 pay cash on accounts payable, $10,600. january 8 purchase additional inventory on account, $93,900. january 15 receive cash on accounts receivable, $23,100 january 19 pay cash for salaries, $30,900. january 28 pay cash for january utilities, $17,600. january 30 firework sales for january total $231,000. all of these sales are on account. the cost of the units sold is $120,500. the following information is available on january 31, 2018. depreciation on the equipment for the month of january is calculated using the straight-line method. the company estimates future uncollectible accounts. at the end of january, considering the total ending balance of the accounts receivable account as shown on the general ledger tab, $4,100 is now past due (older than 90 days), while the remainder of the balance is current (less than 90 days old). the company estimates that 50% of the past due balance will be uncollectible and only 3% of the current balance will become uncollectible. record the estimated bad debt expense. accrued interest revenue on notes receivable for january. unpaid salaries at the end of january are $33,700. accrued income taxes at the end of january are $10,100

(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?