Original price: 24 times 300 = 7200
Making money: 0.25*(2/3)24*300 = 1200
Loss: 0.3*(1/3)24*300 = 720
Profit overall = 120–720 = $480
A good that is commonly accepted as a medium of economic exchange is money. It serves as the main determinant of wealth and the medium through which prices and values are expressed. It is used as a medium of exchange since it can move anonymously from one person to another and from one country to another.
The primary function of money is to enable a trade to occur without the dreaded double coincidence of barter by enabling the distinction between buying and selling.
Theoretically, credit may fulfil this need, but the supplier would need to know the probability of repayment before extending credit. In contrast to using money, this requires far more information on the customer and involves informational and verification fees.
Learn more about money here:
brainly.com/question/22984856
#SPJ4
Answer: $12
Explanation:
The reasonable production cost for a backpack in this segment will be calculated as 50% multiplied by the average retail price which will be:
= 50% × $24
= 50/100 × $24
= 0.5 × $24
= $12
Answer:
$7,650
Explanation:
Ending work in progress = Beginning Work in progress + Units started - Units completed and transferred
= $22,000 + $90,000 - $97,000
= $15,000
Equivalent units = Units completed and transferred + Ending work in progress
= $97,000 + $15,000
= $112,000
Total cost = Material cost (Beginning) + Material cost during the month
= $11,000 + $46,100
= $57,100
Cost per equivalent unit = $57,100 ÷ $112,000
= $0.51
Materials cost of the work in process inventory at March 31 = Ending work in progress × Cost per equivalent unit
= $15,000 × $0.51
= $7,650
The type of contract that Will and Kendrick have is an unenforceable contract. Since the law states all transactions over $500 must be in writing, this voids any agreement that they have made. So, if the car is not bought, there is nothing a court of law can do.
Answer:
$7,500,000
Explanation:
Assume this process continues, with each successive loan deposited into a checking account and no banks keeping any excess reserves. Under these assumptions, the $1,500,000 injection into the money supply results in an overall increase of $7,500,000 in demand deposits
From the stated assumptions in the question,we will use the money multiplier to calculate the eventual effect of the $1,500,000 injection into the money supply.
Money multiplier can be calculated using this formula 1/r (r is the required reserve ratio)
Therefore, the resulting change in demand deposits is as follows:
Change in Demand Deposits = Change in Fresh Reserves ×1/r
= $1,500,000×1/0.20
= $7,500,000
