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2 years ago

A dealer bought some tires for 6500. the tires were sold for 9500. making 50 on each tire. how many tires were involved?

1 answer:

6 0

Cost price = 6,500
Selling price + profit = 9500
Profit gained = 9,500 - 6,500 = $3000
Number of tires bought = 3000/50 = 60
The dealer bought 60 tires.

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The Meyers CPA firm has the following overhead budget for the year: Overhead Indirect materials $ 370,000 Indirect labor 1,705,0

Veseljchak [2.6K]

Answer:

Instructions are listed below

Explanation:

Giving the following information:

Total manufacturing overhead= $ 2,986,000

The firm estimates total direct labor cost for the year to be $1,866,250.

The firm uses direct labor cost as the cost driver to apply overhead to clients.

1) Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base= 2986000/1866250= $1.6 per direct labor $

2) the firm worked for many clients; data for two of them follow: Gargus account Direct labor $ 3,200

Feller account Direct labor $ 9,200

Allocated MOH= Actual amount of allocation base*Estimated manufacturing overhead rate

Gargus overhead= 3200*1.6= 5120

Feller= 9200*1.6= 14720

3) Total cost Gargus= 3200 + 5120= $8,320

TC Feller= 14720 + 9200= $23,920

4 0

2 years ago

Suppose Orange Inc. sells MP3 players and initially has monopoly power because there are only a few close substitutes available

blsea [12.9K]

Answer:

More Elastic ; Lerner Index Decline

Explanation:

Elasticity denotes the responsive change in a product's demand, due to change in its price. Higher the elasticity, the more quantity change due to price change, vice versa.

Lerner Index depicts the market power a firm has. Higher elasticity means consumers have many close alternatives & L is small, signify less market power. And, Vice versa case for low L.

Orange Inc players has monopoly i.e sole seller privileges in the MP3 players market, with few close substitutes. As, more types of players are introduced in the market :

Orange Inc has more competitors & close substitute goods providers, now in the market. So, increase in substitute availability will increase the Elasticity of Orange' demand
Increase in Elasticity means implies that consumers have many options, market power of Orange & its representative L index falls.

5 0

2 years ago

Baldwin, Inc. had the following balances and transactions during 2019: Beginning Merchandise Inventory as of January 1, 2019 1

harkovskaia [24]

Answer:

$18,500

Explanation:

The first in first out (FIFO) inventory system assumes that It is the first purchased inventory that is the first to be sold.

Total inventory sold = 175 + 50 = 225 units

The first 50 units would be taken from the beginning inventory which costs $80. Total cost of 50 units of inventory would be $80 × 50 = $4,000

This leaves 75 units of the beginning inventory.

The 175 units sold would be taken from the remaining 75 units of the beginning inventory and the 270 units purchased

75 × $80 = $6,000

100 x $85 = $8500

Total cost of goods sold = $6,000 + $8500 + $4,000 = $18,500

I hope my answer helps you

4 0

2 years ago

During January, 7,000 direct labor hours were worked at a standard cost of $20 per hour. If the direct labor rate variance for J

igor_vitrenko [27]

Answer:

$17.50

Explanation:

Given that,

Direct labor hours = 7,000

Standard cost = $20 per hour

Direct Labor Rate Variance = $17,500 Favorable

(Standard Rate - Actual Rate) × Actual Hours = $17,500 Favorable

(20 - Actual Rate) × 7,000 = $17,500 Favorable

140,000 - 7,000 Actual Rate = $17,500 Favorable

Therefore,

7,000 Actual rate = (140,000 - $17,500)

Actual rate = 122,500 ÷ 7,000

= $17.50

8 0

2 years ago

Your investment has a 40% chance of earning a 15% rate of return, a 50% chance of earning a 10% rate of return, and a 10% chance

soldi70 [24.7K]

Answer:

5.139%

Explanation:

P(Xi) = Probability of event Xi

E(X) = Expected value of X

The expected value of this investment is the weighted average of the possible returns:

$E(X) = 0.40*0.15+0.50*0.10+0.10*(-0.03)\\E(X) = 0.107$

The standard deviation of this investment is:

$S=\sqrt{\sum P(X_i)(X_i-E(X))^2}\\S=\sqrt{0.40*(0.15-0.107)^2+0.50*(0.10-0.107)^2+0.10*(-0.03-0.107)^2} \\S=0.05139=5.139\%$

This investment has a standard deviation of 5.139%.

6 0

2 years ago