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Norma-Jean [14]
3 years ago
5

Rent-A-Reck Incorporated finds that it can rent 60 cars if it charges $40 for a weekend. It estimates that for each $5 price inc

rease it will rent two fewer cars. What price should it charge to maximize its revenue

Business
1 answer:
kipiarov [429]3 years ago
5 0

Answer: $38

Explanation:

Based on the scenario in the question, the equation for the total revenue will be:

= (60 - 2n)(40 + 5n).

It should be noted that the coefficient of increment is represented by n.

Check the attachment for further details.

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The following events took place at a manufacturing company for the current year:(1) Purchased $95,000 in direct materials.(2) In
Rom4ik [11]

Answer:

D $88410

Explanation:

Work in progress includes all the raw materials, direct labour and conversion costs incurred so far excluding cost of goods sold .

WIP= Intial WIP +Manufacturing costs incurred- Cost of goods sold.

The WIP inventory at the begining of the period is given as nil.

WIP during the period = (95000*80%)+56000+13600+107000

=252600(but it was given that 65% of the Process was completedi.e., finished goodswhich are not the part of the WIP inventory ; hence the remaining 35% is the Work in process inventory)

=$ 88410.

Further the remaining raw material 20% = 95000*20% shall not comprise a part of the WIP as it has not been brought into process itself , it shall lie in raw materials inventory itself.It shall be counted into the WIP once it is brought into the manufacturing assembly line.

3 0
3 years ago
Read 2 more answers
A company reports the following information for June: Sales revenue $ 104,000 Income tax expense $ 11,000 Operating expenses 22,
Elodia [21]

Answer:

Gross profit    $39,000

Explanation:

X company

Income statement ( parochial)

For the year ended, June 30 20YY

Sales revenue                                                       $104,000

Less: cost of goods sold                                       $65,000

Gross profit                                                            $39,000

In that case, we do not use Income tax expense, Operating expenses, Deferred revenues, Non-operating revenues because those will be needed when we will calculate the net income.

5 0
3 years ago
Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc.
Lapatulllka [165]

Answer:

Executive Director, Non Executive Director

Explanation:

Landon is a senior manager for the firm Anderssen Inc. Because of his experience, he has been appointed to the board of EEC Inc., even though he doesn't work for this firm. He also serves on the boards of several other companies. Landon is an Executive Director for Anderssen and a Non Executive Director for EEC.

An executive director has operational responsibilities in a firm but a non executive director does not have operational responsibilities in a firm but is involved in planning and policy formation which are strategic activities.

Operational refers to the daily running of a business.

8 0
3 years ago
Read 2 more answers
In the IS–LM model, a decrease in the interest rate would be the result of a(n): increase in government purchases. increase in t
Dmitry [639]

Answer:

Increase in money supply

Explanation:

Option - A: If there is a decrease in the interest rate, government purchases will decrease in the IS-LM model. Therefore, it is not the answer.

<em>Option - B:</em> As the interest rate decreases, people will borrow more money from the bank. The money will be flown quickly; therefore, the money supply will increase. So, it is the answer.

Option - C: There will be an increase in taxes. Therefore, it is not the answer.

Option - D: As there is an increase in the money supply, the opposite will happen with the money demand. Therefore, it cannot be the answer.

5 0
3 years ago
f a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy ___
zlopas [31]

If a price floor of $15 is imposed on this market and the government chooses to purchase the surplus, the government must buy <u>10</u> units of the good and spend a total amount of <u>$150</u> on its purchase.

<u>Explanation</u>:

According to the given figure, a surplus of the good will result if the price is $15. The government has a total amount of $150. If it decides to spend the total amount on purchasing, the government should buy 10 units of goods.

As the price of each good is $15 and the total amount with the government is $150.

On calculating with the given information,

150/15= 10

So the government can buy 10 units of goods for the total amount of $150.

8 0
3 years ago
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