If bridget is paid $5,500 in one year on a $5,000 loan made today, then her annual interest rate is:

One car rental agency rents a mid dash size car at a daily rate of $36.95 plus 36 cents per mile. Another company rents a mid d

maw [93]

Answer:

80 miles

Explanation:

Data provided in the question:

Rental of the first agency = $36.95 + 36 cents per mile

or

= $36.95 + $0.36 per mile [as $1 = 100 cents ]

Rental of the second agency = $44.95 + 26 cents per mile

or

= $44.95 + $0.26 per mile

now,

let the mileage be 'x' miles

therefore,

the cost for the first agency will be = $36.95 + ( 0.36 × x ) ............(a)

and,

the cost for the second agency will be = $44.95 + ( $0.26 × x ) ........(b)

for the equal mileage, equating (a) and (b)

$36.95 + ( 0.36 × x ) = $44.95 + ( $0.26 × x )

or

( $0.36 - $0.26 ) × x = $44.95 - $36.95

or

0.1x = 8

or

x = 80 miles

4 0

3 years ago

Pick Industries produces plastic toothpicks that it sells to distributors in the Southwest. During the early 1990s, the price of

Cerrena [4.2K]

Answer:

Other things equal, the fall in the price of plastic would shift Pic's marginal cost curve to the right. To maximize profits, Pic should increase its output. Since other firms in the industry do not enjoy the reduction in marginal costs, the market supply curve would not change and the market price of toothpicks would remain unchanged. Pic Industries would enjoy higher profits in the short-run

4 0

3 years ago

The Polishing Department of Marigold Company has the following production and manufacturing cost data for September. Materials a

vfiekz [6]

Answer and Explanation:

According to the scenario, computation of the given data are as follow:-

A).Total Process Unit = Opening Inventory + Started Units During the Period

= 1,740 + 46,900

= 48,640

Transferred Unit Out = Total Process Unit - Closing Inventory Units

= 48,640 - 7,800

= 40,840

Particulars Material cost Conversion cost

Transferred unit out 40,840 40,840

Add: Work in process 7,800 × 100% = 7,800 7,800 × 10% = 780

Equivalent units of production 48,640 41,620

b).Total Material Cost = Opening Inventory of Material Cost + Material Cost Added in Polishing

= $22,100 + $221,100

= $243,200

Material Cost Per Unit =Total Material Cost ÷ Material Cost Equivalent Units of Production

= $243,200 ÷ 48,640

= $5

Opening inventory cost for conversion = $37,103

During September added cost = $127,100 + $258,240 = $385,340

Total Conversion Cost = During September Added Cost + Opening Inventory Cost for Conversion

= $385,340 + $37,103

= $422,443

Conversion Cost Per Unit =Total Conversion Cost ÷ Conversion Cost Of Equivalent Units Of Production

= $422,443 ÷ $41,620

= $10.15

c. ) Unit Transferred Out in Process = Transferred Units Out × (Material Cost Per Unit + Conversion Cost Per Unit)

= 40,840 × ($5 + $10.15)

= $40,840 × $15.15

= $618,726

Material cost work in process = 7,800 × $5 = $39,000

Conversion cost work in process = 780 × $10.15 = $7,917

Total cost of work in process = $46,917

3 0

3 years ago

Flint Corporation purchased from its stockholders 5,200 shares of its own previously issued stock for $254,800. It later resold

Marizza181 [45]

Answer:

The journal entries are as follows:

(i) Cash A/c(1,825 × $52) Dr. $94,900

To Treasury stock(1,825 × $49) $89,425

To paid in capital from Treasury stock(1,825 × $3) $5,475

(To record the purchase at $52)

(ii) Cash A/c(1,825 × $47) Dr. $85,775

paid in capital from Treasury stock(1,825 × $2) A/c Dr. $3,650

To Treasury stock(1,825 × $49) $89,425

(To record the purchase at $47)

(iii) Cash A/c(1,550 × $41) Dr. $63,550

paid in capital from Treasury stock A/c Dr. $1,825

Retained earnings A/c (1,550 × $8) Dr. $10,575

To Treasury stock(1,550 × $49) $75,950

(To record the purchase at $41)

3 0

3 years ago

Lynn Bernerd, Inc., manufactures and sells reclining furniture. The company currently operates in the United States but wishes t

xeze [42]

Answer:

E) Trading company

Explanation:

In international trade, trading companies are basically wholesalers that work at an international level. They usually purchase products from different businesses and then resell them to local retail businesses or sometimes final consumers (less common). Trading companies generally enter a exclusive distribution agreement with the manufacturer per region or country that they operate in.

3 0

3 years ago