Answer:
$750
Explanation:
Since Iba's estimate of returned products is 20 units for both year 1 and 2, and only 10 units have been returned by the end of year 1, they must record a refund liability = 10 units x selling price = 10 units x $75 per unit = $750
Refund liability should represent the total amount that Iba considers that its clients are entitled to receive.
Answer:
a. c+b≤360....equation 1
b. 2 c+1.5 b≥500.... equation 2, where c and b are the number of cans and bottles of water respectively.
c. The number of water bottles to be sold have to be equal to or more than 142 to cover the cost of renting costumes.
Explanation:
a.
<em>Step 1: Determine maximum number of cans and bottles</em>
As indicated, the number of cans and bottles can not exceed a certain value. This means that the number of cans and bottles can be either equal to or less than that value. The maximum number of cans and bottles can be represented in the following expression;
c+b≤m
where;
c=unknown
b=unknown
m=360
replacing;
c+b≤360....equation 1
b.
<em>Step 2: Determine total amount needed to raise $500</em>
Since $500 dollars is the minimum amount needed, the sales have to be $500 and more. This can be expressed as;
(C×c)+(B×b)≥T
where;
T=total amount needed
C=price per can of lemonade
c=number of cans sold
B=price per bottle of water
b=number of bottles sold
In our case;
T=$500
C=$2
c=unknown
B=$1.50
b=unknown
replacing;
(2×c)+(1.5×b)≥500
2 c+1.5 b≥500.... equation 2
c.
<em>Step 3: Determine least number of bottles of water that must be sold</em>
The least number of bottles of water that must be sold to cover the cost of renting costumes can be solved using equation 2 above;
2 c+1.5 b≥500
where;
c=144
b=unknown
replacing;
(2×144)+1.5 b≥500
288+1.5 b≥500
1.5 b≥500-288
1.5 b≥212
b≥212/1.5=141.33=142
b≥142, meaning the number of water bottles to be sold have to be equal or more than 142 to cover the cost of renting costumes.
Answer:
Following are the solution to the given questions:
Explanation:
Please find the complete question in the attached file.
In this question, the Stinsons would prefer the most profitable alternative
Formula:
In point A:
![\to Profit = (70 \times \$3.5) - \$140](https://tex.z-dn.net/?f=%5Cto%20Profit%20%3D%20%2870%20%5Ctimes%20%5C%243.5%29%20-%20%5C%24140)
![= \$245 - \$140\\\\ = \$105 \ / \ acre](https://tex.z-dn.net/?f=%3D%20%5C%24245%20-%20%5C%24140%5C%5C%5C%5C%20%3D%20%5C%24105%20%5C%20%2F%20%5C%20acre)
In point B:
![\to Profit = (50 \times \$2.5) - \$150](https://tex.z-dn.net/?f=%5Cto%20Profit%20%3D%20%2850%20%5Ctimes%20%5C%242.5%29%20-%20%5C%24150)
![= \$125 - \$150\\\\ = - \$25 \ / \ acre \ (Loss)](https://tex.z-dn.net/?f=%3D%20%5C%24125%20-%20%5C%24150%5C%5C%5C%5C%20%3D%20-%20%5C%2425%20%5C%20%2F%20%5C%20acre%20%5C%20%28Loss%29)
In point C:
![\to Profit = \$80 - \$35=\$45 \ / \ acre](https://tex.z-dn.net/?f=%5Cto%20Profit%20%3D%20%5C%2480%20-%20%5C%2435%3D%5C%2445%20%5C%20%2F%20%5C%20acre)
Answer:
A. Automotive Industry
3. Oligopoly
few sellers, many buyers
B. ACME Light and Power
4. Monopoly
Generally only one per city
C. Airline Industry
3. Oligopoly
high barriers to entry
D. Soda Industry
3. Oligopoly
Coke and Pepsi control most of the market
E. Beet Industry
1. Perfect Competition
many sellers, many buyers
F. Cable Television Industry
4. Monopoly
Generally only one per city, or at most 2
G. Agricultural Commodities
1. Perfect Competition
many sellers, many buyers
H. Athletic Shoe Industry
2. Monopolistic Competition
differentiated products
Answer:
a. 3 cases
Explanation:
Given that
Number of cases sell in a week = 4 cases
Together the cases sold is 7 cases in a week
Based on the information, the atul marginal product is 3 cases as the marginal product refers to the additional per unit to the extra labor hired
The three cases is come from
= Together cases sold - Number of cases sell in a week
= 7 cases - 4 cases
= 3 cases