Ball, Inc. renewed its only insurance policy for two years by paying $9,600 on March 1, 2010, the effective date of the policy. At March 31, 2010, Ball's unadjusted trial balance showed a balance of $300 for Prepaid Insurance and Insurance Expense in Ball's financial statements for the three months ended March 31, 2010? a. Prepaid Insurance, $9,500; Insurance Expense, $400
b. Prepaid Insurance, $9,500; Insurance Expense, $700
c. Prepaid Insurance, $9,200; Insurance Expense, $400
d. Prepaid Insurance, $9,200; Insurance Expense, $700

An important application of regression analysis in accounting is in the estimation of cost. by collecting data on volume and cost and using the least squares method to develop an estimated regression equation relating volume and cost, an accountant can estimate the cost associated with a particular manufacturing volume. consider the following sample of production volumes and total cost data for a manufacturing operation. production volume (units) total cost ($) 400 4000 450 5000 550 5400 600 5900 700 6400 750 7000 compute b 1 and b 0 (to 2 decimals if necessary). b 1 b 0 complete the estimated regression equation (to 2 decimals if necessary). = + x what is the variable cost per unit produced (to 1 decimal)? $ compute the coefficient of determination (to 4 decimals). note: report r 2 between 0 and 1. r 2 = what percentage of the variation in total cost can be explained by the production volume (to 2 decimals)? % the company's production schedule shows 500 units must be produced next month. what is the estimated total cost for this operation (to 2 decimals)? $

Suppose farmer lane grows and sells cotton in a perfectly competitive industry. the market price of cotton is $1.64 per kilogram, and his marginal cost of production is $1.44 per kilogram, which increases with output. assume farmer lane is currently earning a profit. can farmer lane do anything to increase his profit in the short run? farmer lane: a. cannot do anything to increase his profit. b. may or may not be able to increase his profit. c. can increase his profit by raising his price. d. can increase his profit by producing more output. e. can increase his profit by shutting down.

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak