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kati45 [8]
3 years ago
11

Maria is going to rent a truck for one day. There are two companies she can choose from, and they have the following prices. Com

pany A charges an initial fee of $55 and an additional 90 cents for every mile driven. Company B charges an initial fee of $90 and an additional 40 cents for every mile driven. For what mileages will Company A charge less than Company B?
Business
1 answer:
Darya [45]3 years ago
8 0

Answer:

for mileage less than 70 miles Company A will charge less than Company B

Explanation:

Data provided in the question:

initial fee of Company A = $55

additional cents for every mile driven for company A = 90 = $0.90

initial fee of Company B = $90

additional cents for every mile driven for company B = 40 = $0.40

let the minimum miles for which Company A charge less than Company B be 'x' miles

Now,

The Total rent function for company A

= Initial fees + charges for total miles driven

= $55 + $0.90x  .....................(1)

and,

The Total rent function for company B

= Initial fees + charges for total miles driven

= $90 + $0.40x     ................(2)

for the condition Company A charge less than Company B

equation 1 < equation 2

or

$55 + $0.90x < $90 + $0.40x

or

$0.90x - $0.40x < $90 - $55

or

$0.50x < $35

or

x < 70 miles

hence,

for mileage less than 70 miles Company A will charge less than Company B

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TransactionsUnitsUnit Cost a. Inventory, Beginning 4,000 $24 For the year: b. Purchase, March 5 10,000 25 c. Purchase, September
Komok [63]

Answer:

Explanation:

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Cost of goods available for sale = Beginning Cost of inventory + Cost of Purchase, March 5 + Cost of Purchase, September 19 = 4,000×24 + 10,000×25 + 6,000×27 = 96,000+250,000+162,000 = $508,000

2. Number of units in ending inventory = Number of units available for sale - Number of units sold = 20,000-4,200-9,000 = 6,800 units

3.  Calculations are attached

4.

Income statement FIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($326,000)

Gross profit  $611,800

Less Operating expense $602,000

Net income $9,800

Income statement LIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($342,000)

Gross profit  $595,800

Less Operating expense $602,000

Net loss $($6,200)

Income statement LIFO:

Sales $937,800 (4,200×69 + 9,000×72)

Less: Cost of Goods Sold ($334,092)

Gross profit  $603,708

Less Operating expense $602,000

Net income $1,708

**Cost of goods sold:-

Under FIFO = 96,000+5,000+225,000 = $326,000

Under LIFO = 105,000+162,000+75,000 = $342,000

Under weighted average method = 103,782+230,310 = $334,092

6. LIFO method minimize taxes

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Answer:

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Rida, Inc., a manufacturer in a seasonal industry, is preparing its direct materials budget for the second quarter. It plans pro
Ksivusya [100]

Answer:

Purchases (in pounds)= 92,550

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Explanation:

Giving the following information:

Budgeted production:

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Beginning inventory= 74,400 pounds

Each unit requires 0.60 pounds of raw material

Buying price= $183 per pound.

Desired ending inventory= 50% of next quarter’s budgeted materials.

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Purchases (in pounds)= 92,550

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