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NISA [10]
3 years ago
6

Trust Construction builds custom houses for individual buyers. On April 1, it had one job, started with a beginning Work-in-Proc

ess of $70,000. During April the job was finished and sold. Direct labor for the job in April was $90,000 and direct materials used were $66,000. Overhead is computed at a rate of 55% of direct labor. There is a markup of 40% on all sales. What was the selling price of the house?
Business
1 answer:
RideAnS [48]3 years ago
7 0

Answer:

$385,700

Explanation:

Based on the information provided within the question we can say that the selling price of the house was that of $385,700 . This can be calculated by adding up all the prices provided plus the direct labor and markup like so.

Direct Labor: $90,000 * 0.55 = $49,500

Markup: 40% / 100 = 0.40 (percent to decimal) + 1 (to make it as an additional value) = 1.40

Price Before Markup: $70,000 + $90,000 + $66,000 + $49,500 = $275,500

Adding Markup: $275,500 * 1.40 = $385,700

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

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marusya05 [52]

The reason that the elasticity of demand is 0.62 for business and 0.12 for economy is because the economy class is more elastic than that of the business.

When the flight ticket of those flying business class is raised, they would not be affected much because they are rich and can afford it. They do not care much about the raise in price.

For the average flyer using the economy flight, raising the price of the ticket would affect him and he may end up reducing his demand for it.

Read more on brainly.com/question/10423637?referrer=searchResults

5 0
3 years ago
On the basis of the following data for Garrett Co. for Years 1 and 2 ended December 31, prepare a statement of cash flows using
Liono4ka [1.6K]

Answer:

Garrett Co. cash flows from operating activities is $61,000.

Explanation:

Garrett Co.

Statement of cash flows (extract)

Net income                                                    $56,000

Add Loss on disposal of equipment                5,000

Cash flows from operating activities            $61,000

Loss on disposal of the equipment was calculated as Proceeds - net book value, that is $15,000 - $20,000.

Note that purchase of equipment belongs to investing part of the cash flows while proceed from stock issuance and dividend payment belong to financing part of the cash flows

4 0
2 years ago
Determining Amounts to be Paid on Invoices Determine the amount to be paid in full settlement of each of the following invoices,
Svetlanka [38]

Answer: a) $30,400

b)$10,394

c)$16,830

d)$8,015

e)$76,626

Explanation:

When a credit term such as 2/10, n/30 is given, it means that the buyer is liable for a 2% discount if they pay within 10 days otherwise they must pay within 30 days.

Discounts are applied AFTER returns are subtracted.

Also any freight charges are charged to the buyer.

With that said, let's calculate this with gusto

a) No discount. Returns of $1,600

= 32,000 - 1,600

= $30,400 is amount to be paid.

b) Freight charges of $300. 2% discount. Returns of $2,500

= (1-0.02)*(12,800 - 2500) + 300

= $10,394 is amount to be paid.

c)Discount of 1%. Returns of $4,000.

= (21,000-4000) * ( 1 - 0.01)

= $16,830 is amount to be paid.

d) Freight charges of $175. Returns of $1,000 and discount of 2%.

= (9,000 - 1,000) * (1 - 0.02) + 175

= $8,015 is amount to be paid.

e) Discount of 1%. No returns.

= 77,400 ( 1 - 0.01)

= $76,626 is amount to be paid.

8 0
3 years ago
Sunk costs and decision making Rajiv has plans to go to a play and already has a $50 nonrefundable, nonexchangeable, and nontran
NikAS [45]

Answer: b.Correctly ignored a sunk cost

Explanation:

Sunk costs are those that are already incurred and should not have any influence on the decision to be made.

The cost of the ticket to the play has already been incurred and could not be sold, exchanged or transferred so was a sunk cost. By going to the concert with Simone, Ravi decided to ignore a sunk cost and he was correct to do so.

3 0
3 years ago
An advertising agency conducted a research to analyze the effects of advertising on the buying behavior of consumers. It was fou
Feliz [49]

Answer:

There is a positive linear relationship between the frequency of advertising and the sales of the advertised product.

Explanation:

A linear relationship is stablished between 2 quantitative variables that have constant proportionality. In this case, the variables are directly proportional to eachother as they move in the same direction. In addition, they are both increasing. So, we can conclude these variables have a positive linear relationship.

8 0
3 years ago
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