Book Title
10th Edition
ISBN: 9781337605656
Author: CROSS
Publisher: CENGAGE L
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Question
Chapter 3, Problem 2RE
Summary Introduction
Case summary: The plaintiff RM’s son died due to the swallowing of a toy block made by the defendant company P on which there was no warning. The plaintiff filed a suit of negligence against the defendant. The defendant applied for summary judgment contending that the hazard was foreseeable.
To Explain: The manner in which plaintiff’s attorney would have served the process (the summons and complaint ) on the defendant.
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General accounting
Pinecrest Industries, Inc., has collected the following data on one of its products. The
actual cost of the direct materials used is:
Direct materials standard (4 lbs. @ $3/lb) = $12 per finished unit
Total direct materials cost variance (unfavorable) = $18,000
Actual direct materials used = 120,000 lbs.
Actual finished units produced = 30,000 units
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- Nonearrow_forwardConsider a firm facing conventional production technology. The short run Production Function has a small range of increasing marginal product (increasing marginal returns) and then is subject to the Law of Diminishing Marginal Product (diminishing marginal returns). A. Putting quantity on the horizontal axis and dollars on the vertical axis, depict three important curves: Fixed Cost (FC), Variable Cost (VC), and Total Cost (TC). (Note that we are not asking you to depict average cost functions!) B. Please clearly indicate on this graph the range of quantities where the firm is experiencing (1) increasing marginal product and (2) diminishing marginal product. C. In a few sentences, please justify why you've made this specific classification of increasing/diminishing marginal product in part (b).arrow_forwardPlease provide problem with accounting questionarrow_forward
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