Barr corp. started a long-term construction project in 20x0. the following data relate to this project: contract price $4,200,000 costs incurred in 20x0 $1,750,000 estimated costs to complete $1,750,000 progress billings $900,000 collections on progress billings $800,000 the project is accounted for by the percentage of completion method of accounting. in barr's 20x0 income statement, what amount of gross profit should be reported for this project?

Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was:

One of the scarce resources that constrain our behavior is time. each of us has only 24 hours in a day, and we must allocate our time in a given day among competing alternatives. how do you go about allocating your time in a given day among competing alternatives? how do you go about weighing the alternatives? once you choose a most important use of time, why do you not spend all your time on that activity? a. as more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities rises. b. as less and less time is spent on one activity, the opportunity cost of that activity in terms of other activities rises. c. as more and more time is spent on one activity, the opportunity cost of that activity in terms of other activities falls. d. b and c only.

Using the high-low method, estimate the variable and fixed cost elements of the annual cost of the truck operation. (do not round your intermediate calculations. round the variable cost per kilometer to 3 decimal places and fixed cost answer to nearest whole dollar amount.)