On January 1, year 8 Banks Co. purchased a machine for $500,000 which it intends to use manufacturing one specific product, with production slated to begin October 1, year 8. The machine has no expected salvage value at the end of its 8-year useful life. To best represent the machine’s pattern of use, Banks elects the units of production method for depreciating it. At the time of purchase, expected production was 10,000 units for year 8 and 90,000 units in later years. At December 31, year 8, actual production has been 7,000 units and Banks expects to produce 113,000 more units in later years. What amount of depreciation expense should Banks report for the machine on its income statement for the year ending December 31, year 8?

Which economic system could be characterized by the "iron fist", meaning a central authority figure has control over most of the economy? market economy command economy traditional economy free enterprise economy

When a shortage or a surplus arises in the loanable funds market a. the supply of loanable funds changes to return the economy to its original real interest rate b. the nominal interest rate is pulled to the new equilibrium level c. the demand for loanable funds changes to return the economy to its original real interest rate d. the real interest rate is pulled to the new equilibrium level

Magic realm, inc., has developed a new fantasy board game. the company sold 15,000 games last year at a selling price of $20 per game. fixed expenses associated with the game total $182,000 per year, and variable expenses are $6 per game. production of the game is entrusted to a printing contractor. variable expenses consist mostly of payments to this contractor.required: 1-a. prepare a contribution format income statement for the game last year.1-b. compute the degree of operating leverage.2. management is confident that the company can sell 58,880 games next year (an increase of 12,880 games, or 28%, over last year). given this assumption: a. what is the expected percentage increase in net operating income for next year? b. what is the expected amount of net operating income for next year? (do not prepare an income statement; use the degree of operating leverage to compute your answer.)