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Alex787 [66]
3 years ago
11

A group of friends decided to divide the $800 cost of a trip equally among themselves. when two of the friends decided not to go

on the trip, those remaining still divided the $800 cost equally, but each friendâs share of the cost increased by $20. how many friends were in the group originally?
Business
1 answer:
s344n2d4d5 [400]3 years ago
6 0
Total cost for the trip = $800.

Let x  =  original number of friends.
Therefore the equally shared cost of the trip for each friend is $800/x.

After 2 friends drop out, the cost for each friend increases to $800/(x-2).
The increase in cost for each remaining friend is $20, therefore
\frac{800}{x-2} - \frac{800}{x} =20
Divide through by 20.
\frac{40}{x-2} - \frac{40}{x} =1\\ \\\frac{40x-40(x-2)}{x(x-2)} =1 \\ \\ \frac{80}{x(x-2)} =1
Cross multiply.
x(x - 2) = 80
x² - 2x - 80 = 0
(x + 8)(x - 10) = 0
x = -8 or 10
Reject x = -8 because we cannot have a negative number for friends.
x = 10

Answer: There were 10 friends in the original group.
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Answer:

For complete understanding lets first make EPU (Equivalent Production Unit)

                                                             Direct Material     Conversion

Units completed &transferred out         6,800                      6,800

Closing WIP                                               500                        100(500*20%)

Total units                                                7,300                       6,900

Closing WIP units = Opening WIP +During the year - units completed

                              = 700                 +     6,600           - 6,800

                              =500 units

On the basis of weighted average method following will be cost per unit:

Total Direct material cost/unit = (70,000 + 633,600)/7,300  = 96.3835

Total conversion cost/unit =(4,410+53,520+80,280(53,520*150%))/6,900=20.0304

Therefore, following would be the entries

WIP                      767,400

Material                               633,600

Conversion                          133.800 (53,520+80,280)

Finished goods    791,615 (96.3838+20.0304)*6,800

WIP                                        791,615

Working for closing unit

Material (500*96.3835) = 48,191

Conversion (500*20%*20.0304) = 2003.043

3 0
3 years ago
Suppose that Spain and Sweden both produce fish and wine. Spain's opportunity cost of producing a bottle of wine is 4 pounds of
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Answer:

A) 9 Pounds of Fish Per Bottle of Wine

Explanation:

A few things should be explained

1. Opportunity Cost - this is the benefit or value of the next best choice that has to be sacrificed when a choice is made between several alternatives.

2. Comparative Advantage: This describes the advantage when a business, individual or even a nation is able to maunfacture a good or offer a service at an opportunity cost that is lower than other competitors in the business. It simply means the ability to produce a good or service at a cost cheaper than one's competitors.

Step 1: By comparing the opportunity cost of producing wine in the two countries, you can tell that Spain (ability to produce a bottle for 4 pounds of fish as compard to 10 pounds by Sweden) has a comparative advantage in the production of wine

Also Comparing the opportunity cost of wine as well, Sweden has the comparative advantage in the production of fish (10 pounds of fish as compared to 3 pounds that can be produced by Spain for a bottle of while).

Step 2: The Trading of wine and fish between Spain and Sweden

a) as long as Spain is able to get more than 4 pounds of fish (what it can produce) for every exported bottle of wine, then it can gain from a trade with Sweden.

b) Also , as long as Sweden is able to receive more than 1/10 bottles of wine for each pound of fish it exports to Spain, it can gain from the specialization and trade.

Step 3: Prices of trade (of wine in terms of fish) will allow both Sweden and Spain gain from Trade.

The correct answer is 9 Pounds of Fish per bottle of Wine. This is correct because Spain can get more than the minimum 4 pounds of fish it needs and Sweden can receive more than 1/10 the bottles of wine it needs to make a gain.

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true

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Answer:

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Answer:

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The rate of return is referred to as the annual return if the time period is typically a year.

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