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mote1985 [20]
3 years ago
6

On August 1, 1958, first-class postage for a 1-ounce envelope was 4 cents. On August 1, 2007, a first-class stamp for the same e

nvelope cost 41 cents. What was the annual compound increase in the cost of first-class postage during the 49-year period?
Business
1 answer:
Andrej [43]3 years ago
3 0

Answer:

4.86%

Explanation:

Given that,

First-class postage for a 1-ounce envelope = 4 cents

On August 1, 2007

A first-class stamp for the same envelope cost = 41 cents

Period, n = 49 years

F=P(1+i)^{n}

41=P(1+i)^{49}

\frac{41}{4}=(1+i)^{49}

10.25\ cents=(1+i)^{49}

1.0486=(1+i)

i = 1.0486 - 1

 = 0.0486 or 4.86%

Therefore, the interest rate is 4.86%.

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Suppose you manage a convenience mart and are in charge of ordering products but do not set the price. The home office provides
lakkis [162]

Answer:

c) 10% more peanut butter on the shelves

Explanation:

Since peanut butter has a negative income elasticity of demand (-0.5) with a decrease in income, there should be an increase in the demand. This is usually true for cheaper goods or goods with low added value. The change in demand (D) is represented as follows:

D=20\% * 0 .5\\D=10\%

As a result, you should stock 10% more peanut butter on the shelves.

The answer is c).

5 0
3 years ago
Lindsey Company uses activity-based costing. The company has two products: A and B. The annual production and sales of Product A
natita [175]

Answer:

Results are below.

Explanation:

<u>First, we need to calculate the activities rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Activity 1= 24,000 / 1,000= $24 per activity unit

Activity 2= 36,900 / 900= $41 per activity unit

Activity 3= 63,000 / 1,800= $35 per activity unit

<u>Now, we can allocate costs to product A:</u>

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

Activity 1= 24*200= $4,800

Activity 2= 41*750= $30,750

Activity 3= 35*1,000= $35,000

Total allocated costs= $70,550

<u>Finally, the unitary cost:</u>

Unitary cost= 70,550 / 5,000= $14.11

3 0
3 years ago
What is secondary product?
vampirchik [111]
A secondary product is a product that comes out of a production process in addition to the main product. A secondary product can be directly consumed, used as an input in another production process, disposed of or recycled. A secondary product can be a by-product, a co- product or a residue.
3 0
3 years ago
Riva crafts and sells hard cider as a part-time job. She can bottle and sell four cases in a week. She is considering hiring her
Dovator [93]

Answer:

3 cases

Explanation:

Marginal product refers to change in the total output when an additional input is employed. For example, output is 5 units when 2 laborers are employed. When another unit of input i.e 3rd laborer is employed, the output rises to 9 units. In this case marginal product of the 3rd unit of labor would be 9 - 5 i.e 4 units.

In the given case, before Atul is hired, the production was 4 cases per week. After his being hired, it rose to 7 cases per week. Thus Atul's marginal product in the given case would be 7 - 4 i.e 3 cases.

8 0
3 years ago
Nash's Trading Post, LLC uses the percentage of receivables basis to record bad debt expense and concludes that 3% of accounts r
skelet666 [1.2K]

Answer:

(a) Prepare the adjusting journal entry to record bad debt expense for the year with Allowance for Doubtful Account of $ 3,041

Dr Bad Debt Expenses                      $10,150

  Cr Allowance for doubtful debt      $10,150

(b) Prepare the adjusting journal entry to record bad debt expense for the year with Allowance for Doubtful Account of $ 918

Dr Bad Debt Expenses                      $14,109

  Cr Allowance for doubtful debt      $14,109

Explanation:

The Allowance for Doubtful Account will have the Balance of : 439,700 x 3% = $13,191

(a): Bad Debt Expenses needs to be recorded: 13,191 - 3,041 = $10,150

(b): Bad Debt Expenses needs to be recorded: 13,191 + 918 = $14,109

3 0
3 years ago
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