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Luda [366]
2 years ago
11

Lesson 6 problem-solving practice sales tax, tips, and markup 1. skateboards inez wants to buy a skateboard but she does not kno

w if she has enough money. the price of the skateboard is $80 and the sales tax is 7%. what will be the total cost of the skateboard
Business
2 answers:
notsponge [240]2 years ago
6 0

After you multiply 7% to 80 you will be left with 5.60, then you add 5.60 to 80 to get $85.60. So if she has any more than $85.60 then she will be able to buy the skateboard

Iteru [2.4K]2 years ago
6 0

Answer:

The total cost of the skateboard is $85.6.

Explanation:

The total cost of the skateboard would be $80 plus the sales tax that is 7% of the price. So, you have to multiply $80 for 7% to determine the amount that would be paid as sales tax:

$80*7%=$5.6

Then, you have to add the price of the skateboard with the tax to have the total cost:

$80+$5.6= $85.6

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Consider two products, X and Y, that have identical cost, retail price, and demand parameters and the same short selling season
elena-14-01-66 [18.8K]

Answer: b. stocking quantity of product B is higher.

Explanation:

We are using the Newsvendor model and are told that the products have identical cost, retail price, and demand parameters and the same short selling season.

Using this model, it is important to understand 2 terminologies for this question, Overage cost and Underage costs.

Overage Costs is the cost of unused inventor and is calculated by subtracting Salvage Value from the cost price.

Underage costs are costs arising from unmet Demand. In this scenario they are the same because both products share the same demand.

The Overage costs for the products are,

Overage cost for Product X =100-75

=25%

Overage cost for Product Y = 20%

When deciding which product to stick more of we look at the one with the higher CRITICAL RATIO.

The formula of which is,

= Cu/(Cu+Co)

Where,

Cu is the Underage cost,

Co is the Overage cost

As earlier mentioned, both have the same Underage cost meaning that B will give a higher CRITICAL ratio as it's Co is smaller.

Product B should therefore be stocked more than Product A.

8 0
2 years ago
Read 2 more answers
Hopkins Company has taken a position in its tax return to claim a tax credit of $70,000 (direct reduction in taxes payable) and
Oksi-84 [34.3K]

Answer:

The amount of the additional projected liability that should be recognized is $28,000

Explanation:

For computing the amount of the additional projected liability, we have to apply the formula which is shown below:

= Tax benefit in 20% - Tax benefit in 40%

= $70,000 - $42,000

= $28,000

The other information which is given in the question is irrelevant. So, it is not been considered in the computation part. Hence, it is ignored.

We took the higher value between $42,000 and $14,000.

5 0
2 years ago
Which reference source may be consulted to answer questions regarding the professional engineers act?
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To answer questions regarding the professional engineers<span> act, one must refer to The Professional Engineers Act and the Board Rules. The Professional Engineers Act and the Board Rules </span>contain the laws, rules, and regulations regarding the practice of professional engineering. They can be used for take home examination.<span> </span>
5 0
2 years ago
Glen found three brands of earbuds that have the specifications he wants. The three pairs of earbuds looked a bit different from
34kurt

This is an example of product differentiation. There are many brands and companies, and each of them fight for the best price while making the best profit. The products are similar, but the only difference are the pricing of the product.

3 0
2 years ago
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Lucido Products markets two computer games: Claimjumper and Makeover. A contribution format income statement for a recent month
Scrat [10]

Answer:

See explanations below

Explanation:

1. Overall contribution margin ratio of the company

= (Total contribution margin / Total sales ) × 100

= ( $113,400 / $162,000 ) × 100

= 70%

2 Company's overall break even point in dollar sales.

= Fixed expenses / Contribution margin ratio

= $82,530 / 70%

= $117,900

3. Contribution format income statement

Claim jumper

Sales $108,000/$162,000 = $0.67 × 100

= 67% × $117,900

= $78,993

Makeover

Sales $54,000/$162,000 = $0.33 × 100

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Claim jumper

Variable expenses

= ($68,120 / $108,000) × $39,880

= $25,154

Makeover

Variable expenses

= ($45,280 / $54,000) × $8,720

= $7,312

• Variable expenses at the point of break even sales = (Break even sales / Original sales ) × Variable expense

7 0
2 years ago
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