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rusak2 [61]
3 years ago
15

The night owl restaurant expects to sell 6,000 meals during the upcoming month with an average variable cost per meal sold of $6

. if total fixed costs are expected to be $24,000, what would the average selling price per meal sold be at the breakeven point?
a. $6
b. $8
c. $10
d. $12
Business
1 answer:
hodyreva [135]3 years ago
3 0
The breakeven point is that when the total revenue is equal to the total cost of production. If we let x be the average selling price, the total revenue would be,
   
    6000x

Given the conditions above, the total cost would be,
  
    (6000)(6) + 24000

At breakeven,

   TR = TC

Substituting,

     6000x = (6000)(6) + 24000

The value of x from the equation is 10

Answer: $10
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Outdoor Gear Corporation manufactured 1,000 coolers during October. The following variable overhead data relates to October: Var
yanalaym [24]

Answer:

$1,482 unfavorable

Explanation:

Calculation to determine the variable overhead flexible-budget variance

Using this formula

Variable overhead flexible-budget variance=Variable overhead spending variance Unfavorable + Variable overhead efficiency variance Unfavorable

Let plug in the formula

Variable overhead flexible-budget variance=$1,300 (U) + $182 (U)

Variable overhead flexible-budget variance= $1,482 (U)

Therefore the variable overhead flexible-budget variance is $1,482 unfavorable

8 0
3 years ago
Wyzard Corporation is a shipping container refurbishment company that measures its output by the number of containers refurbishe
muminat

Answer:

Wyzard Corporation

The revenue variance in the Revenue and Spending Variances column of a performance report comparing actual results to the flexible budget for July would have been closest to: ________

$1,800 F

Explanation:

a) Data and Calculations:

                                            Fixed Element  Variable Element   Actual Total

                                                per Month      per Container       for February

                                                                        Refurbished

Revenue                                                              $3,800                 $123,400

Employee salaries and wages  $40,000            $1,100                  $73,800

Refurbishing materials                                          $700                   $21,800

Other expenses                        $29,700                                         $28,800

Revenue variance

Budgeted revenue (flexible) = $121,600 ($3,800 * 32)

Actual revenue                          123,400

Variance                                       $1,800

4 0
3 years ago
Technoid Inc. sells computer systems. Technoid leases computers to Lone Star Company on January 1, 2013. The manufacturing cost
Taya2010 [7]

Answer:

b. $3,115,234

Explanation:

Opening Balance as on 01.01.2013                        $21,000,000

Less: Payment of First Instalment on 01.01.2013   <u>$3,002,038</u>

Net Balance as on 01.01.2013                                 $17,997,962

Add: Interest at 9% up to 30.06.2013                    $1,619,816

Less: Payment of 2nd instalment on 30.06.2013  <u>$3,002,038</u>

Balance as on 01.07.2013                                      $16,615,740

Interest at 9% up to 31.12.2013                                $1,495,417

Total interest revenue to be reported on the lease during the calendar year 2013 = $1,619,816 + $1,495,417 = $3,115,234

7 0
3 years ago
On January 1, Year 1, the Diamond Association issued bonds with a face value of $300,000, a stated rate of interest of 6 percent
lara31 [8.8K]

Answer:

A) $21,068

B) $1,525.24

C) $280,457.24

Explanation:

The amount of the discount = face value - market value = $300,000  - $278,932 = $21,068

Amount of interest recognized on December 31, year 1 = ($278,932 x 7%) - ($300,000 x 6%) = $19,525.24 - $18,000 = $1,525.24

Carrying value of the bond liability = $278,932 + $1,525.24 = $280,457.24

6 0
3 years ago
Significant investment features for the purchaser of municipal bonds include all of the following EXCEPT: A interest is currentl
makvit [3.9K]

Answer: the correct answer is C interest is currently state and local tax exempt.

Explanation:

A municipal bond is a debt obligation issued by a non-profit organization.

The option C. offers regular or common features that's why it is the correct answer (they are not significant).  

5 0
3 years ago
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