Answer:
$5.15
Explanation:
The data given in the question
Total bill amount = $38.80
Each individual paid = $10 for bill
Number of individual = 8
Now if we divide the total bill amount by the number of individual so the amount come is
= Total bill amount ÷ number of individuals
= $38.80 ÷ 8
= $4.85
So each person can get the
= $10 - $4.85
= $5.15
The office of vocational and adult education (OVEA) states that almost all high school students take at least 1 CTE course, and 1 in 4 students take 3 or more courses in a singled programmed area.
Answer:
(a) $3.48 per unit
(b) 64.2%
Explanation:
(a) Anthony’s contribution margin per unit:
= Selling price per unit - Variable cost per unit
= $5.42 - $1.94
= $3.48 per unit
Therefore, the Anthony’s contribution margin per unit is $3.48 per unit.
(b) Anthony's contribution margin ratio:
= (Contribution Margin Per unit ÷ Selling Price per unit) × 100
= ($3.48 per unit ÷ $5.42 per unit) × 100
= 0.6420 × 100
= 64.20%
Therefore, the Anthony's contribution margin ratio is 64.2%.
Answer:
$33
Explanation:
Given that,
Demand function in state 1: Q1 (p1) = 50 - p1
Demand function in state 2: Q2 (p2) = 90 - 1.5p2
Constant Marginal cost (MC) = 10
Inverse demand:
State 1: p1 = 50 - Q1
State 2: p2 = 60 - (2 ÷ 3) × Q2
Market demand (Q) :
= Q1 + Q2
= (50 - p1) + (90 - 1.5p2)
= 140 - 2.5p
This implies p = 56 – 0.4Q
Now, Monopolist equate Marginal revenue = Marginal cost
Total revenue (TR) = p × Q
= (56 -0.4Q)Q
Marginal revenue (MR) = 56 – 0.8Q
Hence, at equilibrium conditions
56 - 0.8Q = 10
Q = 46 ÷ 0.8
= 57.5
P* = 33
Therefore, the profit maximizing price will be $33.
Answer: Physical safeguard & security, Accuracy, Segregation of duties, Handling errors
Explanation:
Internal control could be defined as the process of handling an organization accounting and auditing process with it's specified objectives in compliance with laws, regulations and policies.
Here are the four purpose of internal control;
a) Physical safeguard & security; this is to ensure that physical assets and information have a controlled asses, and it's not easily assessible by anyone.
b) Accuracy: this is to ensure that all transactions are accurate when records are checked with the source of information where the transaction took place and the time it occurred.
c) Segregation of duties; this ensures that one individual cannot have access to the recording of information and processing of transaction.
d) Handling errors; this ensures that errors are checked at any stage with transaction occurred with corrections also made