The Accounts of Mason Company at the End of the Past

question 13

Short Answer

The accounts of Mason Company at the end of the past year report the following amounts:
$\begin{array}{llcc} \text { Accounts } &\text {Amount } \\ \hline\text { Dividends..................} &\$15,500\\ \text {Revenues............................ } &\$79,000\\ \text {Expenses.................................. } &\$43,800\\ \text { Common stock.............. } &2,000\\\end{array}$

If the beginning equity for the year was $173,000, calculate the ending equity for Mason Company.

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Definitions:

Marginal Cost (MC)

The increase in total cost that results from producing 1 more unit of output. Marginal costs reflect changes in variable costs.

Marginal Cost

The financial increment incurred by the production of an extra unit of a product or service.

Average Total Cost

It refers to the total cost per unit of output, calculated by dividing the total cost of production by the number of units produced.

Efficient Mix

An allocation of resources that maximizes the total utility to society, where no individual can be made better off without making someone else worse off.