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2 years ago

8

Your catering business sells luncheons and dinners. Luncheons are $1,000 each, and dinners are $2,000 each. You sold 300 meals i

n total for revenue of $460,000. How many of each did you sell?

1 answer:

Jet001 [13]2 years ago

7 0

Answer:

140 luncheons, 160 dinners

Explanation:

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Erickson Air is a large airline company that pays a customer relations representative $8,000 per month. The representative, who

Andreas93 [3]

Answer:

So total cost of processing Costumers in January is $7200

And total cost of processing Costumers in February is $6000

Explanation:

Total cost of Representative for the whole year = 8000×12 = $96,000

Total number of customers complaints processed in a year = 40,000

Therefore, cost of Processing per customer complaints = $\frac{96000}{40000}=$2.4$ per costumer complaint

Calculation of total cost of processing customer complaints:

Month Allocated Cost

So allocated cost in January = $2.4 ×3000 = $7200

And allocated cost in February = $2.4×2500 = $6000

5 0

2 years ago

On February 1, 2021, Arrow Construction Company entered into a three-year construction contract to build a bridge for a price of

leva [86]

Answer:

1. 2021 2022 2023

revenue 2912973 3399745 2197282

costs 2170000 2670000 3970000

gross profit 742973 729745 -1772718

2a. Debit Contract account 2912973, Credit revenue 2912973

Debit Bridge in progress 2170000 credit various accounts 2170000

Debit Accounts Receivable 2670000, Billing on CIP 2670000

Debit Bank 2420000, credit Accounts receivables 2420000

2b. Debit Contract account 3399745, Credit Revenue 3399745

debit work in progress 2670000, credit Various accounts

debit Accounts receivables 2920000, Billing on CIP 2920000

Debit bank 2645000, credit accounts receivables 2645000

3a. BALANCE SHEET 2021

current assets

accounts receivables 250000

Liabilities

billing 2670000

3b. current Assets

Accounts receivables 275000

Liabilities

Billing 2920000

Explanation:

percentage of completion = cost incurred for start to date/ total estimated costs

percentation of completion

2021 2022 2023

34.23% 74.18% 100

Revenue to be recognised = total revenue * percentage completed

current period revenue = revenue to be recognise - prior revenue

4 0

2 years ago

A certain movie star's salary for each film she makes consists of a fixed amount, along with a percentage of the gross revenue t

umka2103 [35]

Salary relationships usually have behaviors that can be expressed through mathematical equations, for this case we must locate the information they give us, according to which the salary of the movie star $S$ is equal to a fixed basic remuneration $b$ plus a percentage $x$ of the gross income $g$ , that is:

$S = b + gx$

With this equation and the data they give us, we can solve the request so :

$\boldsymbol{1)} \; 32 = b + 100x\\\boldsymbol{2)} \; 24 = b + 60x$

We clear the basic remuneration $b$ from the second equation and replace in the first:

$\boldsymbol{2)} \; 24 = b + 60x\\24-60x = b\\\boldsymbol{1)} \; 32 = b + 100x\\32 = (24-60x) + 100x\\32-24=100x-60x\\8=40x\\\frac{8}{40} =x\\\boldsymbol{x=0,2}\\b=24-60x\\b=24-60(0,2)\\b=24-12\\\boldsymbol{b=12}$

Thus, with the fixed basic remuneration and the percentage of gross income calculated, we can estimate how much the following film should obtain so that the movie star obtains at least $40$ millions salary:

$40 = g (0.2) +12\\40-12 = g (0.2)\\\frac{28}{0.2y} = g\\\boldsymbol{g = 140}$

Answer

The <em>minimum amount</em> of gross income that the next film should generate is $\$ 140$ <em>millions</em>

3 0

2 years ago

Read 2 more answers

Highly Suspect Corp. has current liabilities of $401,000, a quick ratio of 1.50, inventory turnover of 3.70, and a current ratio

Scrat [10]

Answer:

$3,115,770

Explanation:

Given:

Current ratio = 3.60

Current liabilities = $401, 000

Quick ratio = 1.50

Inventory turnover = 3.70

Current ratio is calculated by dividing your current assets by your current liabilities.

$Current\ ratio = \frac{Current\ Assets}{Current\ Liabilities}$

$3.60 = \frac{Current\ Assets}{401, 000}$

Current Assets = 3.60 × 401,000

= $1,443,600

$Quick\ ratio = \frac{(Current\ Assets\ -\ Inventory)}{Current Liabilities}$

$1.50 = \frac{1,443,600\ -\ Inventory}{401,000}$

1.50 × 401,000 = 1,443,600 - Inventory

601,500 = 1,443,600 - Inventory

Inventory = 1,443,600 - 601,500

= $842,100

$Inventory\ Turnover = \frac{Cost\ of\ Goods\ Sold}{Inventory}$

$3.70 = \frac{Cost\ of\ Goods\ Sold}{842,100}$

Cost of Goods Sold = 3.70 × 842,100

= $3,115,770

8 0

2 years ago

How much cash MUST a buyer furnish in addition to a $2,500 deposit if the lending institution grants a 90% loan on an $80,000 pr

Lostsunrise [7]

Answer:

$5,500

Explanation:

The computation of the cash required is shown below:

= Loan amount on property × remaining percentage - additional deposit

= $80,000 × 10% - $2,500

= $8,000 - $2,500

= $5,500

The remaining percentage would be

= Percentage - given percentage

= 100% - 90%

= 10%

The difference which comes is the cash requirement after considering the loan amount and the additional deposit

3 0

2 years ago